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One of the popular catchphrases
of the 21st century is ‘financial
independence’. The adults who
have just started working often
start with the dream of
achieving it as soon as possible
so that they can pursue what
they really want to. For middleage
adults, financial
independence may mean
fulfilling all responsibilities, such
as children’s education and
marriage, and saving enough to
enjoy their retired life. For a
retiree, it may mean not having
to worry about running out of
the accumulated corpus in
retirement.Whatever it means and
howsoever you define it, you
can’t refute the fact that
planning is an integral part of it.
Unfortunately, when planning
comes into picture, the fantasies
that we have built around
financial independence start to
fall apart. That’s because
planning requires us to do
and undo something – we need
to start saving actively and we
need to stop indulging in
wasteful temptations or at least
minimise them. The second part
is of course more difficult. If you
know you can buy something
that you have always wanted
and yet you shouldn’t, you can
imagine the anguish of it.
Resolving this inner struggle
is a crucial step towards
financial independence. What
should you do? Go for the
golden mean. Sure, don’t
compromise on your financial
goals but at the same time allow
yourself to be a little selfindulgent.
This will help you stay
focused and motivated. This
issue of Samriddhi will tell you
what you need to do to achieve
financial independence. Your job
will be to figure out what needs
to be controlled.
One of the popular catchphrases
of the 21st century is ‘financial
independence’. The adults who
have just started working often
start with the dream of
achieving it as soon as possible
so that they can pursue what
they really want to. For middleage
adults, financial
independence may mean
fulfilling all responsibilities, such
as children’s education and
marriage, and saving enough to
enjoy their retired life. For a
retiree, it may mean not having
to worry about running out of
the accumulated corpus in
retirement.Whatever it means and
howsoever you define it, you
can’t refute the fact that
planning is an integral part of it.
Unfortunately, when planning
comes into picture, the fantasies
that we have built around
financial independence start to
fall apart. That’s because
planning requires us to do
and undo something – we need
to start saving actively and we
need to stop indulging in
wasteful temptations or at least
minimise them. The second part
is of course more difficult. If you
know you can buy something
that you have always wanted
and yet you shouldn’t, you can
imagine the anguish of it.
Resolving this inner struggle
is a crucial step towards
financial independence. What
should you do? Go for the
golden mean. Sure, don’t
compromise on your financial
goals but at the same time allow
yourself to be a little selfindulgent.
This will help you stay
focused and motivated. This
issue of Samriddhi will tell you
what you need to do to achieve
financial independence. Your job
will be to figure out what needs
to be controlled.