Financial Plan is Important So Why Many of us Don’t Have One
We all love to dream about the future we want, but many of us do not like the idea of organizing our finances and preparing a financial plan. It seems that our dream of our future is the fun part, but planning sounds like tedious and boring work. This is evident by the fact that 65% of individuals do not have a financial plan.
A study found that the benefit of having a financial plan is very significant. On average, individuals who had a plan for retirement had two and half times more assets in their retirement than those who did not have a plan. Having a plan is only part of the success equation because working with an advisor and having a financial plan shows that there is a nine to ten times increase in assets than with those who do not work with an advisor and have a financial plan.
This may explain why one third of individuals consider winning the lottery as one of their financial strategies to achieving their financial goals. So why do most of us not have a plan? It cant be because of a lack of awareness since there are many financial institutions that are advertising the importance of planning. There is also a lot of information and material on the subject with millions of results on Google. So when it comes to Financial Planning why is it that we are not prepared? Well here is a list of the three myths that I have experienced people saying.
Myth of Time: In todays fast paced life we are all starved for time. We are so busy in our everyday activities that we feel that taking time for planning is not available. When it comes to planning there is an upfront commitment of time in identifying your life goals and putting together an action to achieve them, but once you complete these steps then it is just a matter of monitoring your progress as time goes on. The time commitment is minimal compared to the return you get by working with an advisor and having a plan done as noted above.
Myth of Knowledge: The financial world, especially today, may seem too complicated with all the information out there. We are exposed to a lot of information and financial lingo. If you start by telling yourself that it is not too complicated and too hard, then you have no excuse not to do it. You may consider participating in a seminar or a workshop. You can start reading books that talk about financial matters. Soon you will learn that the financial world is not complicated once you learn some of the basics.
The Myth of Wealth: I dont have enough savings to worry about a financial plan. If you have savings then you have enough. Having a plan will help you decide not only where you should put your money, it will also help to define the why. I have learned that the why is more important than the how and where. When it comes to planning you need to start somewhere. Dont think that just because you think you dont have enough you should not have a plan. A Financial Plan will help you define the goals and dreams you want to accomplish.
Berger Paints Jamaica Limited (BRG) – Financial and Strategic SWOT Analysis Review
Berger Paints Jamaica Limited (Berger Jamaica) is a paint company, based in Jamaica. Berger Jamaica is a subsidiary of Berger Paints. It operates through the manufacture and distribution sectors of industrial and decorative paints, and paint-related processed materials in Jamaica. The company’s key products include protective coatings, architectural and wood finishes, and marine paints. It operates with its subsidiaries in Amaica, Bahrain, Singapore, China, Caribbean, and the Middle East, South Asia, South East Asia and South Pacific region and across oceans. It has 22 paint manufacturing facilities worldwide which provide services to customers in over 50 countries. Berger Jamaica is headquartered in Kingston, Jamaica.
This comprehensive SWOT profile of Berger Paints Jamaica Limited provides you an in-depth strategic analysis of the company’s businesses and operations. The profile has been compiled by GlobalData to bring to you a clear and an unbiased view of the company’s key strengths and weaknesses and the potential opportunities and threats. The profile helps you formulate strategies that augment your business by enabling you to understand your partners, customers and competitors better.
This company report forms part of GlobalData’s -Profile on Demand’ service, covering over 50,000 of the world’s leading companies. Once purchased, GlobalData’s highly qualified team of company analysts will comprehensively research and author a full financial and strategic analysis of Berger Paints Jamaica Limited including a detailed SWOT analysis, and deliver this direct to you in pdf format within two business days. (excluding weekends).
The profile contains critical company information including*,
– Business description – A detailed description of the company’s operations and business divisions. – Corporate strategy – Analyst’s summarization of the company’s business strategy. – SWOT Analysis – A detailed analysis of the company’s strengths, weakness, opportunities and threats. – Company history – Progression of key events associated with the company. – Major products and services – A list of major products, services and brands of the company. – Key competitors – A list of key competitors to the company. – Key employees – A list of the key executives of the company. – Executive biographies – A brief summary of the executives’ employment history. – Key operational heads – A list of personnel heading key departments/functions. – Important locations and subsidiaries – A list and contact details of key locations and subsidiaries of the company. – Detailed financial ratios for the past five years – The latest financial ratios derived from the annual financial statements published by the company with 5 years history. – Interim ratios for the last five interim periods – The latest financial ratios derived from the quarterly/semi-annual financial statements published by the company for 5 interims history.
For more information kindly visit : http://www.companyprofilesandconferences.com/researchindex/Materials-Chemicals-c25/Berger-Paints-Jamaica-Limited-BRG-Financial-and-Strategic-SWOT-Analysis-Review1.html
Or
Contact us at :
Company Profiles And Conferences Mob +919223375060 / 919223767111 Fax : +91 22 27810778 E-mail : Website : www.companyprofilesandconferences.com
[Top]