The Leading Conversations webinar with Anne Oragwu shed more light on financial planning, wealth creation and investment opportunities. Anne Oragwu laid the blueprint to starting the journey to financial wealth and the session was insightful. For your perusal, we have listed the 10 take-home points from the Leading Conversations webinar with FBN Quest. Read on
- The first step in creating a financial plan is setting financial goals for yourself. Your financial goals should be specific, measurable, attainable, realistic and time-bound.
- Financial planning entails creating a budget and your budget should take into consideration your income, and recurrent expenses and should include the amount you intend to set aside regularly to achieve your financial goals.
- Our goals are supposed to drive us to make better financial decisions. You have to be passionate about what you do. Whatever you are passionate about, look at what the next level looks like and start working towards.
- A financial plan will help you achieve your personal and financial goals, prepare for retirement, shore up for savings and investment portfolio, clearly establish your net worth and fund emergencies.
- Your financial goals: short, mid and long term goals should influence your investment choices.
- Insurance helps to prepare you for unplanned circumstances.
- Diversification provides an opportunity to match your various goals with suitable investments based on risk vs return.
- Ensure to have a safety net/emergency fund in case of financial emergencies. An emergency fund can be set aside with the use of low-risk investment opportunities.
- To achieve your financial goals, you have to be self-aware, determined, disciplined, passionate and have perseverance.
- Repaying your debt is a critical part of having a solid financial plan. Not all debt is bad as some can help you acquire assets either for your personal or business needs.
We hope that these tips guide you on your journey to financial wealth.