A lot of people have ambitious dreams that they would love to fulfill but hardly get a chance to do it, majorly due to financial constraints. There are different ways you could use to make your money grow and fulfill your ambitious dreams without having any financial worries. There is something called as dream planning investment to help accumulate the desired corpus. Here are some avenues where you can start saving –
- Mutual funds
- Recurring and fixed deposits
- Investing in stocks
- Real estate
Some more tips:
- Savings account for emergencies only
- Following the 50% need, 30% want, and 20% savings rule on income
- Keep a track of your assets
Dreams worth saving for
Some work hard their entire lives to achieve their dreams and yet end up with nothing more than a meagre pension plan. In contrast, others work and travel at the same time.
Millennials come with the attitude of saving money for the dream they’ve envisioned. Though unconventional, some are worth the savings.
So, here are some dreams worth your time and money:
- Taking a break from work
Taking a one or two-year break from work is something that you could indulge in to explore other things you could be good at. Breaks also provide a healthy space to reassess your professional and personal life.
2. Don’t wait for retirement
Sixty is the age the system has set as the culmination for your savings. But that can change because you can dictate your financial freedom. Set an age when you can peak before retirement so you can focus on other life plans.
3. Upgrading your skills
You’re young, so why not aim towards investing in yourself by learning new skills? Investing in learning skills can not only boost your current profession but is also an overall winner for your future endeavours.
4. Trying your hand at farming
How about breaking free from your corporate life and indulging in farming? You could buy land and start investing in tools and equipment you would need to give shape to your farming dream.
5. Starting a business
A self-owned business could fill the gap if a conventional job doesn’t fare well with your life expectations. Though businesses may take longer to boost, it could come with personal job satisfaction and, eventually, financial independence.
6. Social work
Corporate Social Responsibility (CSR) is always an option for those earning and investing. Doing charitable work for the marginalised has always been a dream for many. You could build a corpus specifically for such charitable works.
7. Purchasing your dream automobile
By saving your money at an early stage, you are one step closer to purchasing a long-term goal of buying your desired automobile.
8. World tour for family
With the right approach to savings and investing, even a world tour could be within your reach.
Looking to fulfill some other ambitious dream? Get started today!
Learning how to save from the start is a great way to achieve your long-term goals and dreams. Be it something as basic as renovating your house to something as extravagant as a luxurious trip to some exotic place, financial planning and management could go a long way to help you realise these dreams. One way to inch closer towards fulfilling your financial goals is to explore your options with the help of an expert and making smart investment decisions.
Reach out to one today!