What is the Most Important Question to Answer When Investing? It’s not the How, it is the Why!
Learn the Basics. Attend our FREE FINANCIAL COACHING
Fely and I had started to invest in the 90’s. We invested in real properties, in stocks but we failed to achieve our goal? Why? Because we did not define clearly our PURPOSE for investing, WHY are we investing? What is the investment for, how much should we accumulate, and what is the target date? In investing, the PURPOSE or GOAL defines the Investment Vehicle to use.
In the past we simply invest for no particular reason. When we learned right investing, Fely and I now invest for a purpose or a particular financial goal.
Foremost of these purpose for investing are what we term as HIDEE.
H is for the Healthcare needs: Both the Short Term and Long Term Healthcare needs. I is for the Income Replacement at retirement. D is for Debt Payments, E for Education and the last E is for Estate Preservation. We need to do some calculations on this.
There are other Goals that needs to be planned for. Buying a new house, supporting you parents, travelling abroad or having a Pilgrimage. All these needs to be defined first.
This is what we found: The investment Goals or Purpose, will define what Investment Vehicles to ride. Without a purpose, we can invest but this is like creating a travel plan without an itinerary. Imagine planning for a pilgrimage to nowhere? How do we know what is the appropriate vehicle to use? That is exactly the same in investing. When we are clear with the WHY, the HOW and WHAT just follows…
If you need to know your complete Financial Strategies, contact me NOW at 0920-902-1217 or eMail me at richbenj.santiago@gmail.com
For more information, you can opt to register here too: https://bit.ly/retirehappilynow
Coach Benj Santiago
Head Coach and Founder
Truly Rich Makers
Author of Debt Destroyer
No comments:
Post a Comment