A Plan for Life
How to keep your finances in order--from the alter to the grave
Until recently, most Asians didn't think they needed a fiscal road map to their future. Property prices and stock markets were booming, so it was easy to believe that all of life's expenses could be met by the sale of that investment property or a few blue-chip shares. But the regionwide recession has changed all that. Now, more and more people realize that tomorrow is more than just another day: it's a whole new set of challenges that can be dealt with only by prudent planning today. With this new realization comes uncertainty: When to start planning? Where? How?
Have no fear: TIME MONEY has some answers. Taking a break from our usual examination of investment opportunities and spending options, we have decided to offer a beginner's guide to financial planning--for life. In the pages ahead, you will find valuable advice on how to plan for marriage (and not just the wedding, either), the arrival of your first child, the purchase of your first home and the security of your retirement. For good measure, there are also pointers on planning for the afterlife: writing a will isn't something you want to leave to the last minute.
Some of the information may seem basic, but just about everybody, young or old, should find something of interest. After all, the unexamined life may not be worth living, as Socrates said--and the unplanned one can be a mess. We wish you a long, prosperous, well-planned life.
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