Gen Z seeking financial help from an experienced financial planner should first share their Wishlist with the financial planner and expect from the planner to provide a well thought of comprehensive financial plan breaking it into segments relating them to the Wishlist of Gen Z which can be achieved or fulfilled in Near Term, Short Term, Medium Term and Long Term. Gen Z while sharing Wishlist may or may not be aware of the following:
1. Whether it is achievable or not?
2. Whether it is within the law of the land? (Ignorance of law is not an excuse)
3. Whether it will be turning into payment of higher tax at a later stage?
4. Whether it is compared with other similar options?
5. Whether due to lack of knowledge, it is turning to an over-conscious / conservative or highly aggressive situation?
For better planning and helping Gen Z in achieving the Wishlist/Goal, a good planner will help them to guide on the above required parameters and align them while planning for the Gen Z. Planner should also provide the practical/actual work path to implement their plan and review the same periodically so that the Plan is not over hyped / anxious or due to poor practical knowledge, the plan is not able to give the required result. The best option typically to plan for Gen Z is to combine human expertise with digital convenience. Keeping all this in mind, we thought of creating an on-line platform combining human expertise with digital convenience which will guide the Gen Z instantly step by step to their financial planning on-line and for any specific requirements arranging meetings/consultations with experts with a very nominal fee.
To navigate through the Comprehensive Financial Planning Solution curated for Gen Z, “Please Explore”:
The first and foremost thing to do is to jot down and calculate the judicious regular Monthly Expenses which is to be kept aside in the bank account having Sweep-in, Sweep-out facility, so that financing the immediate requirement of monthly expenses will be achieved instantly and there will not be any idle money for this as it will also earn interest similar to FDs. If you are a very good planner, then incur your day-to-day expenditure through a Credit Card which provides 50 days to 60 days credit facility and on or before the expiry of the credit period, pay the amount to credit card company. This will help you achieving two things, one you got credit of 50 to 60 days free of cost and secondly you earned interest on the swipe-in amount for the expenses incurred on Credit Card for the same period. For Help in opening Salary Account with Sweep-in, Sweep-out facility and other attractive facilities, Click Here.
Calculate the total monthly earning from all sources to know your financial capabilities. After calculating the total monthly earnings, deduct the total Monthly Expenses to find the Excess Earning which can be spared without disturbing the day-to-day life. Since this Excess Earning will keep on adding every month, first it will be advisable to keep the same in little more higher income financial product/instrument than the swipe-in swipe-out income. Till the time you are not finding any such higher income instrument, keep the same in your bank account with swipe-in swipe-out facility so that it will earn at least @ FD rate of 6% or so. Secondly create one or more Smart SIP Plus or SIP Plus or a Smart SIP cycle or in combination depending upon your excess monthly earning amount, which will earn on an average of 15% to 18% per annum. As these are capable of adjusting automatically to the Ups & DOWNs of the market, these only can ensure to achieve superior return than the normal SIP and as well as Recurring Deposits (RDs). To take advantage of these Advanced Well-Tested Tools free of cost, Click Here to register with our partner entity. Thirdly, even after creating the required number of monthly investment cycles taking the help of above tools, if you still have some excess monthly earnings or if you already have some excess earnings from previous months and you want to park / invest one time for short term, then it is advisable to park in ARBITRAGE FUND as it is more tax efficient than Liquid Fund, FDs, RDs and Swipe-in and Sweep-out with similar safety, liquidity and little higher paying Financial Instruments. Click Here to access the basket of 10 best curated Arbitrage Funds and Click Here for Corporate FDs.
When there is good investment opportunity available due to share market being very down, it is advisable to invest in Equity Mutual Funds by switching the money invested in ARBITRAGE FUND and/or along with any excess money available with you and wait for one year. It is advisable to make it a practice to invest (whatever money available that particular time) when market is down for a consecutive longer period. Similarly, redeem/sale/withdraw money from Equity Funds which are invested in the last one year or more on FIFO (First-in, First-out) method. This will serve two purpose, one you will encash the profit and reduce the market risk and will be saving tax on Long Term Capital Gain (LTCG) of Rs.1,25,000/- every year. Secondly, your base investment amount will be increased to the extent of the earnings when you invest the proceeds from the sale. Click Here To access the basket of Best 10 Equity Funds with CAGR of Minimum 15% to 18% from each category of (a) new funds but doing good, (b) 5 years completed fund, (c) 10 years completed funds, (d) 15 years completed funds, (e) 20 years completed funds, (f) 25 years completed funds and (g) more than 25 years completed funds so that you can directly pick and choose any one from the basket without any hassle of doing market research. If you are not in a position to track market, then Click Here to take the help of tailer made SMART Switch from our partner entity which will do it for you automatically as per the market UPs and DOWNs.
Set medium term to long term goals like Foreign Visit, Studying Abroad, Marriage, Buying Vehicles, Buying House and finally for creating a Corpus for Retirement and plan to build a corpus for each such plan by creating one TIP (Target Investment Plan) or Smart SIP Plus, Smart SIP or SIP for long term (Minimum 5 years or more). Keep it in mind that money can be withdrawn from the attached fund of these cycles at any point of time in case of emergency or any on-towards situations though the purpose for which the cycle was created may not be achieved. Use the following Calculator to calculate to know the monthly amount to be contributed for a certain period of time to achieve the required amount. Take the help of following corpus calculator to plan your medium to long term goals. You can also use our other different Interactive Comprehensive and Additional Specialized Financial Planning Tools from our menu for better understanding, planning and downloading a report for further necessary action and consultation as required at a nominal token amount.