Why start saving at early age?

 

Scenario 1:

Do school teacher starts teaching when exams are around?  The simple answer is NO, in fact they take special classes to cover pending syllabus when exams are near to finish syllabus. Usually they follow timetable with discipline to cover all chapters of all subjects to ensure they teach everything before exams begin. 

 

Scenario 2:

What happen to students if they study 1 month before exam after wasting whole year? Obvious answer is he may fail or score low marks for the academic year. So everyone knows that students have to start preparing early to score high marks and not at the end.

 

Have you noticed run rate in cricket?

Scenario 3:

What happens If cricketers who chase target and don’t maintain steady run rate from beginning of innings and try scoring higher in the slog overs? Obviously pressure builds with higher required run rate touches like 30 runs/over and they try hitting sixers and lose wickets one after other and lose match. This is something we watched in many matches.

 

If you maintain a steady Run rate of 4 runs/over it is fine to score at the end, or else if run rate increases like 30 runs/over, will you be able to make it? obviously you will lose match.

 

There is not much of difference between saving money for purpose and above 3 scenarios.

 

If you don’t start saving small amount very early then you can’t collect bulk amount for events like marriage, education, building house, buying car, retirement, medical emergency so on. When the run rate increases then you will end up in opting for loan and pay interest for it and it becomes pain in your life.

 

But if you opt for saving for long term the power of compounding will help you to achieve your targeted goals OR at least it reduces your burden with contribution with savings.

 

I have seen that LIC of India is the one institution which makes people to save with discipline so that people are able to save substantial amount of money for their needs at every stages of life. It’s highly recommended to start planning early in life as money needs time to grow.

Don’t ignore and keep postponing which may cost you a lot like money, peace of mind and financial security.  

Call us for appointment to plan right today and cater your needs so that you live with peace of mind.

Call us @ 9901422522, Bengaluru.  Mail id: Swetha.Tejasvi@gmail.com