MANILA, Philippines – In an ideal set-up, planning and investing for a fulfilled and financially secured future should start as soon as you start working.
It all sounds easy on paper, but in reality, this can be a challenge as we may hit unforeseen obstacles along the way, such as health issues, that prevent us from doing what we originally had set out to do.
Difficult this may be, building a financially secure kind of life isn’t impossible at all, no matter how early you begin.
To help you get started, here are tips addressing different aspects of your life that you can start doing now.
When saving, start small
Arguably, saving is one of the, if not the, first thing we’re told to do the moment we start earning our own money. For many, however, saving doesn’t come easy.
But the thing with saving is that you don’t need to allot a big chunk of your earnings to it, especially if you’re only starting. You can begin by keeping as low as 20% of your paycheck, if you follow the 20/30/20 rule, and build from there as your earnings increase over the years.
Want to take it a step further? The next time you get the impulse to buy, say, a pricey cup of coffee or hail a private ride, consider cheaper alternatives and add the remaining amount to your savings.
Remember that what may seem like a small amount today can eventually grow into something bigger in the long run.
To keep you grounded, follow your passion
We’re told time and again to follow our passion no matter what it is, and for many good reasons. Passion is an anchor that keeps us going and grounded, and it reminds us why we do what we do.
So if you’ve always wanted to take an art class, go ahead. Have a desire for helping people? Volunteer! Love cooking? Now might be a good time to start taking a culinary class.
But don’t leave your day job just yet: you can still pursue your passion during your free time! And if you do believe that it’s something that you can earn from and want to work on full-time, start preparing early by studying about it, talking to experts in your field, growing your circle, and saving.
To have a work-life balance, prioritize and set boundaries
As you go along in your adult working life, you’ll notice that a fulfilled life is never defined only by how much one earns. Often, what makes life good are good health and the personal relationships you build and maintain.
While working is a given, it is also important to learn how to prioritize and set boundaries to avoid burnout. For some, this means taking back their weekends to unwind, spending time with friends and family, prioritizing health and wellness.
Work can get overwhelming, but you will always have the freedom to control how much it would affect your life.
To secure your future, get insured (and grow your hard-earned money!)
Contrary to popular belief, getting insured is a necessity, not a luxury. An insurance plan gets you covered not only in the case of sudden illnesses, accidents, or even death, but also ensures that your and your loved ones’ financial future is secured.
Advisors would often say that the best time to sign up for an insurance plan is when you don’t need it. The younger you start, the less premium you’ll pay – and the bigger your investment would grow in the long run.
To make the most out of your insurance, get one that goes beyond getting your finances protected. There are various insurance products now available in the market that allow you to reap the benefits of a life plan, investments, and health profiling at the same time.
Pru Life UK’s newest and exclusive insuravest – or investment-linked life insurance – myDNA Pro Bundle combines insurance, investment, and health management solutions in one product.
On top of the insuravest, which gives insurance coverage and an opportunity to accumulate wealth through the investment component, myDNA Pro Bundle offers an exclusive access to the myDNA Pro Program. This provides tailored diet and fitness recommendations based on your DNA to help you lead a healthier lifestyle. It also helps identify and reduce the “three highs” of health risks, namely diabetes, high blood pressure, and cholesterol.
The key to achieving a secure and fulfilling life is in your hands. Start by making sure that all your bases – personal growth, work, finances, and health – are covered.
Be on top of everything as you go through life and know who and what to prioritize so that you don’t end up compromising the people and things that matter most. – Rappler.com