Finance Planning | Page 2 of 4 | VSRK Capital | Trusted Mutual Fund Distributor & Financial Advisory Services

August 17, 2021

Women: An Investor

1. Women are not good investors

A women invests herself completely into her family be it physically mentally or even financially. She puts her 300% for the upliftment of her family. A women is a one who knows the fact that nobody will care about your money more than you. A great women said “Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”

2. Women are not financially literate

When women work, they invest 90 percent of their income back into their families, compared with 35 percent for men. By focusing on girls and women, innovative businesses and organizations can spur economic progress, expand markets, and improve health and education outcomes for everyone. A women completely understands to increase the wealth one has to decrease their wants. And all women have been great examples of putting aside their wants and prioritize their family.

3. SIP is like a mask to your money

Disciplined: Systematic Investment Plan builds a discipline of investments. As one has to be disciplined to wear mask regularly.
Flexibility: SIP is like a mask wherein one can easily put on or off as per their requirements.
Long-Term Gains: SIP as an investment tool, holds the potential to deliver lucrative returns over a long investment horizon due to rupee-cost averaging and the power of compounding. A mask helps to improve the health over a long horizon.
Convenience: There can be no convenient way of investing other than SIP for beginners. You can start SIP online or offline with as low as Rs 500 only. A mask can be as low as Rs. 10 as per the convenience of our pocket.

4. Vaccinate your portfolio

Doctors are doing a great job to vaccinate your bodies for a healthy being, Let VSRK help you to vaccinate your incomes and give them a boost for your better future. VSRK will enable you to improve your saving strategies in the form of SIP which will improve for a long and healthy financial base.

August 13, 2021

6 Reasons Why We Need a Budget ?

Judiciously spending your earnings is the quality of a wise and smart financially-sound person. But sometimes, you commit mistakes regarding your expenditure, which leads to a financial loss. The solution to this problem is setting up a budget for your income. A Budget is a common word we know what it means. A Budget is an estimation of your income and expenditure. It creates a way to decide how much to spend and for what purpose. By creating a budget, you formulate a plan for spending your income. It is indispensable for your financial stability to ensure a steady income and check all your expenses. We have tried to enlist some reasons why you need to prepare a budget for yourself.

1.Helps to figure out your goals:
Establishing a budget helps you to keep an eye on long-term goals and work on them. If you aimlessly lose your money now and then, you will end up with no savings and no financial security. If you want financial security for yourself and your family, you should maintain a budget.

2.Ensure optimum spending:
Budget controls your pocket. It stops you from being extravagant in your spending. Also, it ensures you do not spend money that you do not have. People often spend higher than their earnings and owe it all to credit cards. People who overspend often fail to realize the overspending until they are in debt. However, if you create a budget and stick to it, you will never find yourself in such a situation.

3.Helps to lead a happier retirement:
It is good that you spend your money on the limit, follow a proper budget & you will be debt-free, but something more is as necessary as these habits. It is your future you need to spend wisely today but equally essential to save it for the future. A budget can help you to do that. You should also include investments that will lead you to a happy retirement life ahead.

4.It prepares you for emergencies:
Life is unpredictable and full of surprises, a few sweet and some bitter ones. Emergency encompasses situations like sickness, hospitalization, accident, lay off, divorce or death of someone in the family. This situation leads to financial urgency, which is the reason why you should have an emergency fund. Your money or budget must contain an emergency fund that includes a minimum of four to six months’ living expenditure. It will ensure you don’t suffer from debts after a life crisis.

5.Throws lights on your spending habits:
Forming a budget encourages you to take a complete look at your spending habits will realize you are wasting your money on the material you don’t even need. Do you need four pairs of slippers/ or 15 shirts of the same color? A Budget makes you rethink your expenses and focus on a financial goal.

6.Helps in making you burden-free:
How many nights have you spent thinking about paying the bills, how to deposit your child’s education fees number of people who lost their peace over these tensions allow their money to make them a puppet. When you form a budget wisely, you will never have to lose your sleep over financial issues.

These were a few key points, several more advantages of making a budget and strictly following it. You can ensure financial security today and the future by strictly following the above suggestions.

July 13, 2021

11 Things You Should Know About SIP Mutual Funds

Investing in markets is one of the most concerning decisions. As a traditional customer, you will think twice before making any large investment. But with the introduction of SIP, now the situations have changed. It is easy and convenient to make investments. Every year, the number of customers is increasing who look forward to bring their investment in SIP mutual funds. In this blog, we will give you a quick some features of SIP mutual funds.

To the customers who are just beginners in the market, SIP is a new word. SIP stands for a systematic investment plan. It is the most flexible way to invest in the market. The best thing about this plan is that you can invest per month rather than one lump sum amount.

Eleven things you should know about SIP mutual funds:-

1. Amount of investment
SIP gives you the right to invest according to your requirements and convenience. You can start your investment with a minimum amount of Rs 100 or Rs 500 per month. A Small Amount of investment will not develop a financial burden on your head can easily maintain your financial balance.

2.Savings
SIP mutual funds can formulate monthly, annually, quarterly, and semi-annually. It develops a sense of saving habits among investors. Your saving habits play a vital role in the circulation of your money. Tax saving schemes also comes under SIP mutual funds.

3.Types
SIP mutual funds are of various types. The most common type is a hybrid mutual fund. A Hybrid mutual fund is the one under which the investment portfolio is equally divided between equity and debt financial instruments. Other types of SIP funds are Flexi SIP, Step-up SIP, Perpetual SIP, etc.

4.Timing of the market
The timing indicates the ideal time frame, where the investors can gain a maximum of the benefit in the stock markets by purchasing more units of mutual funds when the prices are comparatively low. With SIP mutual funds, you can invest throughout the year and get better returns.

5.Investments of recurring nature
You have to make regular deposits, like recurring deposits. However, in RD the returns are linked with the bank FD rates, but in the case of mutual funds, you can invest in different financial instruments that link to market-related returns.

6.Regular investment
Investing in small amounts per month will make you a burden-free and disciplined market investor. You will become smarter about your expenses and start thinking to invest maximum. The regular investment feature of SIP will help you today and in the future.

7.Objective
The main objective of SIP mutual funds is to achieve long-term accumulation of wealth. When you invest through SIP, you invest in a disciplined manner without feeling the stress of market conditions. SIP mutual funds from time to time remind you of your investments and motivate you to move ahead.

8.Safe and sure
Mostly SIP is marked as a safe and sure way of investment and an efficient way to create wealth for the long-term. SIP is generally secure regarding mutual funds. SIP gets stuck to continuous money to earn a fixed percentage of commissions or returns. It makes you worthy of a safe and secure investment nature.

9.Best for the beginners
SIP mutual funds are the best choice for beginners who don’t have experience regarding the market as it averages out the price over some time. The funds in a mutual fund are sub-invested in various sectors. Through this, the investors get the benefit of diversification. You can consult your financial adviser for SIPs which offers several plans for the beginners.

10.Management
Financial experts regulate the SIP mutual funds. These professionals work on improving the returns of the funds. The SIP mutual fund is well managed and provides you with the best service in all possible ways.

11.Investment goal
Most people fail in investment activities due to a lack of market knowledge. SIP provides a wide range of investment options. With these various options, you develop yourself as a diversified and disciplined investor. The most common reason why people start investing is they need to save taxes. If you want to invest in SIP, you must target a specific goal. Determining the aim is an essential factor. It is necessary to know the reason behind your investment in SIP. Attach a money value to your goals. A Mutual fund (SIP) will provide you with the best returns than other investment option.

All the SIP features are present online. Online facilities provide complete services from starting till the end with ease of the internet all these services are working 24*7. Things like child education, marriage funds, home loans, retirement plans are necessary for one’s life. These require proper planning with adherence to the amount of wealth and period time. Each year the value of SIP changes. You have to understand the past, estimate the current values, and come up with future possibilities.

July 11, 2021

Best Ways To Utilize Diwali Bonus in 2021

Festivals not only bring joy to us but also some extra money to our pockets. Being working people, nothing makes us happier than the Diwali bonus. Either private jobs or government jobs, a bonus has its own happiness. When we get our monthly salary with no extra pay, we set a budget for expenditures and savings but when we get an occasional bonus, we often don’t exactly know where and how to invest it properly. There are multiple alternatives available and choosing the right one is crucial.

Saving helps us in many ways, either in the present or future. No matter whether you are saving Rs100 per month or Rs1000 per month it will be somehow advantageous to you. Apart from your basic budget, the bonus money, can help you fund your retirement plans. Retirement is inevitable and proper planning and a well-maintained fund is needed for it. Keeping in mind the future expectancy, it is one of the major ways to invest your bonus beneficially.

Certain situations arise for which we didn’t pre-plan, like the health emergency-accident or any illness. Today we are fit and healthy but, in the future, we never know what will happen. Medical facilities are one of the most expensive services- paying hospital bills, buying medicines, etc. utilizing your bonus to the best way to invest it in collecting emergency funds which will help you during a medical emergency and other related emergencies. Being an employee, your interest in long-term investments should never go off. Your bonus will be secured when invested in long term investments. Long term investments are future-oriented keeping in view the future possibilities, long term investments are most preferable and adopted ways to invest your bonus pay.

Another good way to invest your bonus is to pay off the sticky debts you are worried about for a long. You may use your bonus to pay your outstanding debt. This will reduce your burden to some extent. Paying debt should be your priority when it comes to investing the bonus. Investing in equity funds can also be a possible way to keep your bonus investment secure. Equity funds are also being the most sought-after way of investment by working employees with regards to the high returns. For people who have children, proper education is the most important thing you can provide to your children as it is the key to one’s life. When it comes to the education of your child, there is no compromise you can do. Part of your bonus can also be invested in saving for your child’s education. Education comes with a cost. Higher education needs a good amount of fees. Preparing a proper education plan and collecting funds for your child’s future is a beneficial way to invest your bonus money.

When money comes to your hand it’s purely your decision how and where to utilize it. Some use the money in buying assets like land, building, car, etc. while some people will move the money towards equity funds, emergency funds, etc. But according to a survey, a beneficial way to utilize the bonus money is to invest it for the future. It will come up to you with a good amount whenever you will be in need. So these were some of the most effective ways to put your bonus money on the right path to get the most benefit out of it.

July 9, 2021

5 Important Financial Tips for Payday

How often have you experienced being broke just after a few days of receiving your salary? Well, it is not just you but hundreds of other people who find themselves in the same scenario. You may feel guilty that time but see yourself getting in the same position every time. If this sounds like you or someone you know, keep reading.

1.Chart Out Your Monthly Budgets

The first thing that everybody needs to do is to chart out their monthly budget. For this, check out your salary slip; it will give you a fair idea of deductions from your salary. You’ll get to know whether you need to make any investments. Remember, investments are made not only for wealth purposes but also to reduce annual tax liabilities. After you have understood your salary structure, list out the in-hand salary that you have received together with all the expenses this month. It helps you to get a structured estimate of your funds.

2.Prioritize Your Investments and Expenses

This step includes planning and prioritizing your investments and expenditure for the month. Most people follow a ‘spend first, invest later’ approach which prefers taking out all the expenses they intend to incur and invest whatever amount is left. However, if you follow this, it may lead to extravagant spending. Leading financial advisor suggests an ‘invest first, spend later’ approach. It states that one should make investments first and utilize the left amount later. It builds a disciplined investment habit.

3.Be Careful of Extravagant Offers & Schemes

Most retail companies offer heavy discount or other schemes at the last or start of the month. One should be careful of these schemes as it leads to spending more in the name of mere discounts or buying products that you do not even need. You should strictly adhere to the expense budget that you had made above. A lot of people unnecessarily buy subscriptions to applications and services that they don’t even use. Be cautious of all such wasteful expenses.

4.Build Emergency Fund

Situations like the current Covid-19 pandemic where millions of people lost jobs, fell ill or even died are the reasons why it is crucial to maintain an emergency fund. It should be a large fund to accommodate all expenses of at least 6 to 12 months. It should cover all necessary payments that you will need to make for your livelihood, including food bills, electricity bill, water bill, insurance policy payments, EMIs. The amount should not sit idle. You can invest them in liquid funds. It saves your funds from the effects of inflation while ensuring withdrawal whenever you want.

5.Simultaneously settle your debt

While managing your expenses and investment, make sure that you pay off outstanding loans and other liabilities. Paying out the debt reduces the burden on your income and ensures that there is no additional interest. Keeping the practice of paying out the loans and other liabilities ensures a debt-free future.

Making a note of financial status is very important. Every individual shall be of utmost caution of all the expenses that he makes. Working out one’s budget on a spreadsheet or piece of paper can work out wonders for an individual. It provides a clear outline of earnings, investment and expenses. If followed diligently, this can make one a master of his financial status rather than driven by his sentiments.

February 5, 2021

5 Things You Should Know Before You Start Investing

Investment is not a one-step process but an entire series of steps taken to reach the financial goal. It encompasses making various financial decisions and finding the right investment alternative while minimizing any associated risks. Investing is affected by a large number of factors, so it is crucial to keep in mind some financial aspects. Today we will talk about five things you should consider before you leap.

Know Your Investment Goals
Every person who is desirous of investing should have a stated purpose of investment. It could be anything like buying a house, new car, child education and marriage or planning retirement. You should know what you want to save your money for and especially how much you want to save. Your investment goals are a crucial factor to decide the investment alternatives.

Know Your Financial Condition
Any investor, whether she is a billionaire or a new associate in a law firm, has some financial limitations. It is necessary to know how much would you be able to invest in the said period of investment. The purpose of investing funds would be to generate sufficient returns to help you achieve your financial goals, whatever they are. So, it is necessary to know how much investment you would be able to support and where you can cut corners.

Know the Importance of Emergency Funds
One of the main reasons why investments fail is that people consider their investment as emergency funds. However, this is never the case. For example, when you start a fund for buying a new house, then that money is being kept aside for buying that new house only. Now, what people do is that whenever they face any financial emergency, they break these funds, thereby hampering the investment cycle. Such acts lead to lower accumulated wealth. These emergencies, as the name suggests sprung anytime and you have no control over them. So, it is always advisable to consider an emergency fund. It would safeguard you in case of any mishap.

Know Your Asset Allocation
There are various investment avenues available in the market. You can invest in precious metals like gold & silver, stocks, bonds, mutual funds, real estate or a combination of all of the above. You may or may not want to invest in all of them. Each of them has its risks, rewards and characteristics. Therefore, you should be well aware of the investment avenues you have selected. Knowing each kind of investment avenue helps you to create a diversified portfolio and enhances your chances to reach your financial goals.

Know Your Risk Appetite
When someone wants to invest his money, there are majorly only two things in his mind. First is the reward and second is the associated risk of investment into that avenue. Every person has a different risk appetite depending upon his age, financial situation, priorities, etc. You should identify the level of risk you are willing to take to achieve your financial goals. This factor is one of the main aspects when you choose your investment avenues. People who have a high-risk appetite go for equity funds; they are risky but give good returns to its investors. Debt mutual funds are safer but provide low returns and are suitable for people with low-risk appetite. Hybrid mutual funds are known to yield better returns than debt funds and are less risky than equity funds, so they are suitable for moderate risk-takers.

January 2, 2021

Easy Ways To Teach Your Child How To Be Responsible With Their Money

As a parent, it’s your responsibility to help your children to be confident and sensible with money.

When they receive money as a birthday gift, insist that they set aside a percentage for their savings. When they get their allowance, remind them to budget any extracurricular activities they choose to participate in. Every time the opportunity presents itself, discuss making small and large purchases, and then how they can save for them.

Over time, children will understand how money is used to acquire goods or services and how it can be spent wisely.

You shouldn’t be intimidated by teaching your kids all about finances. Here are some excellent ways to help your children learn to be responsible with their money:

Teach Them Where Money Comes From
The first thing you should teach do is explain to your kids how money is earned, and introduce them to ways they can make money as kids. Make the link between having a job and being able to enjoy having money to spend. To demonstrate this principle, you can assign paid tasks to your children, which helps them to fully understand the value of hard work.
Make sure that these tasks are not their usual chores. For example, you might offer to pay them for mowing the lawn or picking up items from the store. There are different tasks you can ask them to do, depending on their age.

Use A Money Jar
When you want your children to appreciate the value of saving, you should start with a simple money jar. Kids appreciate it when they see their money grow in the jar every time they save it, rather than making impulsive purchases. When they’re old enough, take them to the bank to open an account, and make them responsible for their savings.

Show Them How To Monitor Their Spending
Another way to let children understand the value of money is to give them actual money and monitor their spending. For example, get them to write down everything that they eat or buy in school. When they come back home and list what they have eaten, they have the opportunity to learn the difference between an unplanned snack and a planned one.
This will also teach them the value of wants and needs. Looking at their spending habits will make them realize how much money they’re wasting on items they don’t necessarily need. They can also learn how to find cheaper alternatives to save more money on their purchases.

Introduce Them To Following A Budget
There are many benefits of teaching financial responsibility to children; one of which is that they learn to make better financial decisions. Teach your child how to be responsible with their money by giving them a fixed budget to follow. When they know what their allowance is each week, they will be more likely to stay on track.

You can also limit how much they spend each month on clothes, video games, and entertainment. Many kids don’t realize that they can get into trouble by spending too much money. It is essential to set a limit so that they learn how to stick to it.

Setting a budget for them and explaining the advantages and disadvantages of having a particular amount saved for emergencies will help them realize the importance of having good spending habits.
They should save some of their income for emergencies and, when they’re old enough, buy what they need for daily living. This helps kids to learn how to prioritize what they really need against things they simply want; a key step in developing financial responsibility.

Teach Them About Investments Early
Children need to learn the basics about stocks, bonds, investments, the stock market, and other financial topics like types of mutual funds and insurance. These are great ways to teach kids about money and help them to understand complex concepts from an early age will pay dividends when they’re older. Teaching kids about investing will give them a realistic expectation of what they can do with their money, as well as steps they can take towards future financial security.

Summary
Teaching kids about money might seem daunting, but when you take your time and offer consistent advice, it’s not that hard. You can begin the process of understanding finances from an early stage in their lives. Teaching kids about money now will prepare them for future life decisions regarding spending habits and retirement. It also instils in them the importance of savings and the importance of investment.

December 23, 2020

5 Tips to a Successful Investment Journey

A journey is confusing without a map the same way the journey of the financial world is impossible without a pre-planned chart or strategies. You cannot start investing without a plan. You will probably waste your money anywhere or everywhere. You have to look up according to your convenience and resources. Financial planning never comes easy, without the chain of steps. These steps guide you based on your money and outflow. Here, we will introduce five tips for a successful investment. It’s a long way to go through the small steps that we take.

Start Investment
In today’s time, the process of growing your wealth must comprise investment. Focus more on investing the right way and right proportion. It needs a lot of hardship in the financial world to grow as an investor. Identify your goals, define your investment approach and then play your process of investment accordingly.

Acquire Knowledge of the Market
Grow your interest by investing in the stock market and making informed investments. Read books or take courses on investments dealing with modern financial strategies. There is much worth reading text like stock for the long run by Jeremy Siegel, that will explain to you about the high levels of finance. Investing consists of science as well as art. It has principles and also quality. It’s required to learn about every aspect of investment. Grow up your market knowledge. Once you know what works in the market and what does not work, you can formulate simple rules regarding your investments.

Define of your investment strategy
Nobody knows your financial condition better than you. You should go according to the plan so that you can get the best out of your investment. You can consider consulting a financial advisor who can give you the best possible measure by which you can get more returns on your investment and can help you in planning for future investment. He will help you select out the best investment alternative according to your financial goals and risk appetite.

Right investment guide
Your level of resources will define your path of investment. Always differentiate in the options you have. Don’t rush in one way. Be careful about what you invest and where you invest. Start with low risk and learn gradually. Adopt long term investment for an optimistic future. Always try to take help from the financial advisor regarding investment because he is the only person who will guide you in the best possible way in regards to your investments.

Long term investments
Sticking with a long-term investment strategy may give you benefits for future decisions. Owning assets is one of the most beneficial steps in growing up your financial status. Your chances of success will increase if you stay in the course without letting your emotions take charge of your practical life.

Learning to be a successful investor is a gradual process. The market will prove you wrong sometimes. Believe in your strategies and be on the runway for the long term. In the end, a conclusion comes to like to explore various types of investment alternatives. Risk is an inseparable part of the financial world. Set your bar from low-risk investments to high-risk investments. You can’t expect miracles without putting in efforts. The result of your investment will be the reflection of your effort and hard work. Invest smart, not high if you invest a small investment in the right way.

December 9, 2020

Best 6 Steps to Financial Planning for Women

In today’s time, it is easy to talk about female freedom, male-female equality, and women empowerment. We all hope for change in society through well-established policies. But can there be freedom without financial independence? These are some of the steps that every woman should follow to ensure long term financial independence. The American association of university women estimated the 2018 “gender wage gap” to be at 18%- on average most women earn 82% only for every dollar earned by a man.

Plan a budget

Well, a budget is an estimation of your income and expenses. Create a monthly expense list containing bills, fees, rent, groceries, and others. Women empowerment has come a long way a lot to develop regarding finances. That development will start from your small initiatives in which budget formation is the initial step.

Be obsessed with your investment

Investments are beneficial over short as well as long term returns. Every woman should keep herself first and should think about her financial security. Start investing early in mutual funds. You can start as low as INR 500 per month. This amount will be useful in the future. You plan to buy a house, or to travel, your child’s education or marriage. Investing in gold is also beneficial and proves to be a smart move.

Manage your finances

If you are a single woman, there are chances that you have already taken responsibility for your finances. If you are married, you should prepare to take responsibility for your money flow rather than depending upon your husband or in-laws. Be financially independent on your terms. Your financial ability will help you to achieve your dreams.

Be debt free

Even people with high paying jobs cannot support themselves financially. It is because, from head to toe, they are under the debts. The main reason is unequal pay. Many women take loans and spend more than they can afford. Everyone wants to live a luxurious and healthy life when they can’t afford their desires often lead to debts. Limit your spending habits will help a lot.

Earn, save and invest

Even after having a good income one should need to focus on wealth and try to earn more and more wealth so that it becomes easy to fulfil all the demands of you and the members of your family. On the other hand, you need to save at least some part of your income for further expenses. If you invest in some long-term or short-term securities, you can earn a good profit that can be a part of your income that could be useful for future purposes.

Hiring a financial planner

It is necessary to have a financial plan so that your investments can meet your goals. A financial planner can set up a plan based on your money flow. It is suggestible that people should control their expenses efficiently to meet their financial objectives. In the end, we can say that every woman must be financially independent that will help her in chasing her dreams and making her satisfied.

December 4, 2020

How to Retire Early?

It’s a common perception that retiring late will provide you more money for a secured future. However, it does not work like this. Retirement planning is not about working more but more about starting early. Retirement plans are formulated beforehand. Whether you retire early or late, each has its own benefits according to your plans before and after retirement.

The word ‘retirement’ makes you think of a retirement at an old age, probably 60 or more. Turning old often brings a comparatively less-energetic body and makes one vulnerable to various health issues. Such conditions force one to spend majorly into medical services. So, it’s better to plan retirement at an early age. To retire early, you have to make pre-plans regarding your savings and expenditure. If you are planning an early retirement, it’s best to start saving your money from the time of your working days.

It is advisable to keep a separate saving for your expenses. Children’s education, marriage all can be handled by the debt securities that you will own. Debt mutual funds are considered the most beneficial step regarding the investment of your money. You can monthly invest some amount of money in deposits and at the right time, you can get a lump-sum of amount from these debt instruments.

Education nowadays is the most important key for self-independency, respect in society, and a standard lifestyle. You cannot compromise on the education of your child and will have to save separately for this. The higher education of your children requires a huge amount of corpus and many middle-class families are not able to cope up with such high fees. Many education plans are being grown-up for student’s bright future, be interested in such plans, and invest here.

You have to see your retirement with optimism. Securing your present, while covering your future needs requires detailed plans and proper investments. It is advisable to have a balanced mutual fund portfolio which invests in the long term as well as short term investments. Long-term investments will meet your future needs on the other hand short-term investments will help in current present expenditures. Apart from the above-mentioned expenses there are some other household expenses which seem to be small but are fixed in nature. After investing in these investments, the left-over amount can be useful in small fixed-unfixed expenses.

Following these steps will surely be helpful in your early retirement planning. After meeting all necessities, just save a small part of your salary for your requirements. Retiring at an early age will enable you to explore the world and to focus on yourself. But this could only be done when you are relieved from the tension of all the responsibilities.

Making a systematic rule for every step will not only help you but also your family. Education, marriage, retirement all will be planned so you can spend the most time with your family and do whatever you want. A middle-class working person lives for his/her family and responsibilities but she/he deserves the time to live for herself/himself too. You can travel and explore after working for years, your financial plans can give you a good vacation and trips with your family. Don’t consider early retirement a bad sign. If your plans are well-structured and takes care of every nook & cranny of your financial needs, you will not face financial problems and will always be economically stable. You can start to save some money from your early days for your travel after retirement. Don’t make retirement a full stop on your enthusiasm, make it a new beginning. Life is never so short to explore and to live a life, full of life!