Goal Based Financial Planning Case Study

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This post has been written by taking all young bachelors and couples, who have taken courageous step to follow the goal based financial planning. Goal based financial planning depends on various milestone in personal life, remember we are talking about financial milestone. As you start young the picture ahead is not quite clear and questions like this put hurdles in planning for goals:
When I will get married? When We will have children? When we’ll have our own house? When children will go to college? When children will get married?
So, if you are a couple in late 30’s and early 40’s, your children might already have started going to school, so picture is quite clear and dates too. But how should a young couple with no children plan for such goals? I remember, in my workshops, I used to take the youngest participants as volunteer to make a live financial plan, and on the spot, we’ll deliver a baby or two for goal calculation. It might be hasty in that situation but you have time to think, you should decide when you are ready to take the responsibility of other person in your life be it your spouse or the children.
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This should not be seen or taken as advice given in personal capacity, it’s just an elaboration of goal setting for young individuals or couples.
So here I am taking a case of young girl in her early 20’s, recently got a job in MNC and doing well in terms of her career. She decided to opt for goal based financial planning and started working on inputs. As she is a strong independent woman, she would like to work 5 more years before getting married as she has certain position in her mind which she would like to achieve before settling

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