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Today’s working peopleleadextremely hectic lives and their stress levels are always at a high. They work day and night just to complete their targets, get promotions, and rise up the ranks. When it comes to earning money, working professionals go to such an extent, but when it comes to managing money, why are you so careless? Money is required at every step you take, right from going to your office using a cab or buying coffee during the coffee break. While these are small day to day activities, there are bigger facets of life that require a lot of money. You will realize the true value of personal wealth management after reading and reflecting on aspects of the family life cycle that every individual goes through – • School and College education of kids: School and college life is most vital for kids. A good school lays the foundation for a good life by teaching them the basic rules of life and equipping them with theability of logically, morally and creatively reasoning out things.School fees combined with yearly expenses like industrial visits, tours and trips, requires you to have a solid budget. • Education abroad: Today’s parents generally send the kids abroad for obtaining a master’s degree. Abroad education is pretty costly. One has to take into account tuition fee, cost of living, eating expenses, and other miscellaneous expenditure. The cost can run into several lakhs of rupees a year. You need to be prepared to bear the cost if a situation so arises. • Marriage of children: Indian marriages are celebrated with great pomp and festivities.Hotel reservations are to be made, food arrangement has to be done, guests are to be picked up and dropped every hour, clothes are to be purchased etc. The list is endless and so are the expenses. Marriage comes once in a lifetime, so you shouldn’t compromise on it for just a little amount of money. Make sure your kids take carry with them the best memories for a new life. Wealth management needs to be done with the entire family because everyone’s lives are ultimately dependent upon the amount of money you’ve reserved for them. Also, unless you’ve an investment expert, you shouldn’t do it by yourself. Hiring the services of a personal wealth management india firm is the most advisable solution. Top wealth management companies have in-house financial experts who can come over to your place and listen to your situation. Depending on what seems to be the most suitable option, they suggest several plans you can invest your money in. Also, be wary of firms that send salesmen in the guise of wealth management experts. They work only in the vested interest of the firm.
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