financial freedom presented by: aadil kadri certified financial planner
TRANSCRIPT
Financial Freedom
Presented by:
Aadil Kadri
Certified Financial Planner
Presenter Contacts
Aadil KadriManager Advisory
Certified Financial Planner, FPSB – India ,
Continental Financial Services
Mobile +971 50 5250261
Office / Fax 04 3353433 / 04 3352553
Email :[email protected] / [email protected]
To read my blog please click the below link: http://aadilkadri.blogspot.com/
“Celebrating 15th year of successfully helping people realise their financial dreams”
Objectives
• Advantages / Disadvantages of Credit cards
• Awareness of Financial Planning
By the end of this session the participant will be aware
Vision
To make people well versed and well equipped with the importance of FINANCIAL PLANNING.
Mission
To offer my time, money and energy for the betterment of People.
To help people plan for the expected and unexpected moments of Life.
To continuously contribute to the society and follow values of integrity, honesty and humility.
Purpose of Coming to UAE
What is required to save money“Financial Planning”
Otherwise……..our money……!!!
How we can AIM FINANCIAL FREEDOM
Debt Management – Control on Income v/s Expenses
Financial Planning
Record Keeping
Procrastination
Debt Management – Control on Income V/s Expenses
• Budgeting
• Cutting Expenses
• Ways to Get in the Debt
• Issues while in Debt
• Steps to come out of Debt
Ways to get in Debt
Personal Loans
Credit Cards
Living beyond means
Flashy Lifestyle
Ways to get in Debt
Issues when in Debt
Health Issues
Family Issues
Legal Issues
Loss, Peace of
Mind
Financial Issues
7 steps to come out of Credit Card Debt
• Acceptance
• Snowball effect
• Increase your Income
• Loan from your Fixed Deposits
• Personal Loan to Pay off your credit card debts
• Talk to the bank
• Get Professional help
Financial Planning
What is Financial Planning?
Why you need Financial Planning ?
Who needs Financial Planning?
How to do Financial Planning?
Basically to “SAVE”
S = Systematic
A = Accumulation (of your)
V = Valuable
E = Earnings
Why we need Financial Planning?
What is L I F E???
L = Beginning of your Life?? ???????? What lies in between ????
………??E = End of your Life
INSURANCE
Life Insurance Health Insurance
Accident InsuranceCritical Illness
Insurance
Planning of Unexpected / Emergencies
Planning of Financial Goals / Milestone
Family Goals / Milestone
Education Planning Retirement Planning
Dreams / Aspirations Buying House
Different Life Stages of Financial Planning
Birth and Education
0 25 60Earning Life 75 +Retired Life
Marriage
Kid 1
Kid 1’s College
Kid 1’s Marriage
Kid 2
Kid 2’s College
Kid 2’s Marriage
Retirement
Age
Inco
me Do you want to
compromise on your living
standard after your
retirement ????
Emergencies????
Car
House
Savings / Investing
Concepts that helps to achieve Financial Planning
• Save and Spend
• Formula for Savings :
• Who is Rich ???
• Pay Yourself first
• Tin Can Concept
• Power of Compounding
• Pyramid of Life
SpendSpendSpendSpendSpendSpendSpendSpendSpend
SaveSpendSpendSpendSpendSpendSpendSpendSpendSpendSpend
Concepts that helps to achieve Financial Planning
Category 1 Category 2
Income – Expense = Savings
Income – Savings = Expense
Formula for saving
Formula for saving in new age
Save??
AED 50,000 Savings
20 yrs35 yrs 55 yrs
Savings termAED 20,000 Income
Client A
Who is Richer ?????
AED 200,000 Savings
20 yrs35 yrs 55 yrs
Savings termAED 5,000 Income
Client B
20 yrs35 yrs 55 yrs
Savings termAED 20,000 Income
Client A
20 yrs35 yrs 55 yrs
Savings termAED 5,000 Income
Client B
Pay Yourself First
10% GROCERY
(3-4)days
20%SCHOOL
(5 – 6) days
30%RENT
(9 – 10) days
10% BILLS
(3-4)days
10% MISC
(3-4)days
10% DEBT
(3-4)days
10% BALANCE
(3-4)days
100% - Income for 30 days
Tin Can Concept
2%
A
3%
B
5%
C
Power of Compounding
• Option 1 : Gets AED 100000 for next 31 days
• Option 2 : Gets 1 fils per day doubling every day for next 31 days.
AED 2.14 billion : Power of Compounding !!!!!!
AED 2,14,74,834
Pyramids of Life
3%
13%
21%
Financially Independent
Still working to
make ends meet
Dead
Financially dependant on charity or relatives .
Survey shows out of 100 people who reach to age 65 years
64%
Financial Record Keeping
Try Solving some 2:00 AM - NIGHTMARE Questions in YES / NO
Have I informed my spouse about all my assets and liabilities ?
Have I informed my spouse about the loans taken & loans given ?
Does my spouse knows where ALL our original documents are kept ?
Does my spouse knows who to contact in case of emergency ? Are we prepared for an unforeseen circumstances ?
Does my spouse knows whom to contact in emergency ?
Procrastination
I will explain this to you all TOMORROW ……
Tomorrow that never comes ……. So…..
DO IT NOW
So what’s your KEY to success?
“ AIM Financial Freedom ”
• Start savings Early
• Save / Invest Regularly
• Save/ Invest – Medium to Long Term Plan
Questions and Answers
Thank You
Presenter Contacts
Aadil KadriManager Advisory
Certified Financial Planner, FPSB – India ,
Continental Financial Services
Mobile +971 50 5250261
Office / Fax 04 3353433 / 04 3352553
Email :[email protected] / [email protected]
To read my blog please click the below link: http://aadilkadri.blogspot.com/
“Celebrating 15th year of successfully helping people realise their financial dreams”