Time To Prioritise Your Financial Health

As the clock ticks down and you usher a new decade, many of you are focussed on making 2020 better than 2019. Nonetheless, losing weight, stop smoking, better fitness, takes the top priority while taking care of your financial health may take a backseat. However, if you focus on getting yourself financially healthy as a New Year’s resolution, it will not only pay off in the year 2020 but even beyond that.

Clearly, resolutions help move you closer to your goals. But simply making resolutions might not be enough. Shaping up your finances has a similar challenge as any other New Year resolution. Some of the research shows that people fail to keep up their New Year resolution even till the end of January and by the start of the February, New Year resolutions become a distant memory.

Our cover story this time will help you to make your new year far better than the year gone by, in terms of your personal finance. It lists down some of the basic steps that you should do in 2020 that will help you in making your finances much better. It is important to make it as a habit and continue throughout the year.

Retirement planning happens to be one of the most important financial goals, which is being ignored by many for various reasons. One of our special reports in this issue has delved deep into the subject of retirement. It goes beyond retirement planning and talks about how much you should withdraw from your retirement fund, so that you can outlive your retirement corpus and not the other way round.

Making financial resolution is one of the best means to achieve financial success. It is not a destination but a journey and you should always be aware of that. Whether you keep a journal or hire a financial planner, make sure that you make better decisions next year. 

SHASHIKANT