Setting goals is the first stage in financial planning before beginning the journey. Your goals will affect every financial choice you make, including what asset class to invest in and how long to hold investments for. Setting financial goals entails several steps, from choosing your investment objectives to actively making and carrying out financial decisions to reach your objectives. With a change in your financial situation, your plans also witness some changes. A high income enables you to keep higher aspirations in life.
Goal-based financial planning helps you in taking correct decisions in life. If you are unclear about your financial goals, then you might end up taking the wrong financial decisions in the long run. A structured financial plan will always come to your rescue.
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