Set your #LifeGoals higher than the sky

We all have dreams but most of them end up as just unachievable desires. We often wonder that when we had set our goals, why they still they remain unattainable.

Every goal in life requires money at the right time and in the right amount to make it into a reality. The problem with most of us is that we do not plan our investments according to our goals, but rather just invest in a totally unplanned manner.

If we throwback on our life, we would find that traditionally, most of us invest without any planning. An annual bonus at work or an inherited wealth is just invested for the purpose of ‘saving. Saving is certainly good, as pure pundits would also confirm, but not attaching a goal to the investment is what makes it almost worthless.

Would you board a train without deciding where to get down? You need to know your destination before you board a train. In other words, there has to be reason, which is reaching your destination, before you board. Similarly, to reach the destination of your life, i.e. to achieve your life goals, you ought to have a reason attached to your investment. Goal based investment would add direction to our investment.

Bajaj Allianz Life Insurance Company, the joint venture between Allianz SE, the world’s leading insurer and Bajaj Finserve Limited, has taken up the initiative of educating people of investing in a planned manner to achieve their #LifeGoals

A blogger’s meet was held at the St. Regis Hotel at Mumbai where bloggers from various genres were invited to spread the word about how to dream about our goals and #InvestBefikar to achieve them through Unit Linked Insurance Plans (ULIPs).

Interspersed over fun games and lively interactions, the entire event was lit up by the presence of the absolutely versatile and quick-witted actor comedian, Suresh Menon.

While Suresh, in his own inimitable style shared anecdotes of how traditionally people have been looking at investments without having any set goals in mind, the bloggers shared their knowledge and experience about the benefits of goal based investing through ULIPs.

In order to make them achievable, our goals should be S.M.A.R.T., i.e., Specific, Measurable, Attainable, Realistic and Time bound. In other words, we should first understand what we want to do with our money and how we want our financial future to look like. Once we have determined and analysed our current financial situation, our goal based financial investment planning can be set in three time frames, short-term, mid-term and long-term.

Goal based investment in ULIPs aids us to #InvestBefikar in a systematic and disciplined manner to achieve our #LifeGoals by helping us remain focussed and unaffected by any short-term volatility where you know the purpose behind each rupee being invested.

I would take an example to make the advantages of goal based investment, clearer to the non-finance readers for them to understand how investment without planning can make us take bad financial decisions.

My neighbour had bought a new car three years back and as I was being envious of him, my Company gave me a bonus of INR 1 lakh. I lost no time to immediately use this money to make the down payment for an even better car I bought and applied for a car loan to fund the remaining amount. Apart from the EMI that I kept paying to actually own the car, the maintenance expenses like insurance, interiors and the regular fuel costs kept mounting in my enthusiasm to compete with my neighbour. In my foolish zeal, I ended up with no money to pay for my daughters’ engineering admission fees.

Examples like the one above are common, but a structured, well thought-out process of investing can help us avoid making such emotional decisions.

Goal based investing through Bajaj Allianz Life Insurance ULIPs can help us look at our existing assets, expense pattern and risk profile as also the various short, medium and long term goals and thus create a road map for each of these goals in a fairly predictable manner.

Our goals may vary, be it shot-term like a foreign vacation or buying a car; medium-term like buying a house or a destination wedding; or even long-term like retirement or child’s education, but dreaming about them and achieving them is inevitable for each one of us.

Set your #LifeGoals higher than the sky, #InvestBefikar in a planned manner to achieve them through Bajaj Allianz Life Insurance Unit Linked Insurance Plans.

Watch out my next post with further details on their amazing product coming soon which would represent a real shift in the way investment planning is done.


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