Have you recently heard of the term “F.I.R.E”- Financial Independence Retire Early? Yeah, your friend has told you “It is easy to make money, just invest and retire early”, and you want to get started. While it is important to invest, earning big bucks from investments alone is not an easy thing to do for an average joe like you and me. Yet investing is a necessity. Quoting Warren Buffet, “If you don’t find a way to make money while you sleep, you will work until you die.”
Set a financial goal
An objective comes with every plan, financial planning is no exception. Having a clear financial goal allows you to stay emotionally invested, understand your financial situation, and the path the way ahead. You can use a mindmap or a timeline to achieve this.
A financial timeline example. Source: Reddit user
You should include your upcoming large expenses such as BTO, renovation, or even school fees....