So Do You Need Financial Planning

So Do You Need Financial Planning



So, Do You Need Financial Planning?
Well do you need Financial Planning? in​ this article, I ​ will show you how you can answer this question.
Immediately after we complete our college education, we automatically participate in​ a​ race call rat race.
Everyone started the race with a​ cart. in​ this cart, we have personal bills, loans and our allowance. as​ we are single, everything is​ good and manageable. We can spend what we earn without worry.
Then we meet our partners and get married. Thus we begin our next chapter in​ life. Our cart becomes heavier and we now worry about our spouses bills and loans and kids allowance. Some of​ us must support our parents too. We may even need to​ bring our family to​ vocation. as​ we grow older, our carts get heavier and heavier. Do you have enough savings to​ meet these expenses?
As we know, life is​ never a​ straight and smooth path. We will encounter obstacles. Some of​ these obstacles may set us back in​ terms of​ our financial standing . If we do encounter a​ big obstacle e. g. critical illness, operation, surgery, business failure and need a​ huge sum of​ money to​ recover, Do you have enough money to​ meet this expense? What if​ the big obstacle results in​ us being permanently bedridden or​ out of​ work for a​ long time, what is​ going to​ happen to​ our cart? Do you have enough money to​ support yourself and family if​ that happens?
Many may say, well we have friends and relatives to​ turn to​ for help. But our friends and family have their own carts to​ pull too. if​ they help push our cart, who is​ going to​ push theirs?
We will all retire from work eventually. From then on till we all rest in​ peace, we do not have regular income but our life must still go on. We still need to​ pay our bills and we still need to​ eat. Do you have enough money to​ support yourself during retirement?
At old age, our body is​ no longer working as​ well as​ they used to. Our health conditions deteriorate, as​ we get older. We will need to​ seek medical help frequently. We may even need to​ employ a​ person to​ take good care of​ us. Do you have enough money to​ spend on these medical expenses?
So do you need Financial Planning? if​ you answer ‘Yes’ to​ all the above questions, then you are safe and need not worry about Financial Planning. Otherwise, I ​ suggest you start thinking about it.




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