Financial Planning By: Mr.  Narinder Kumar Lamba

“Money is not understood by many, even though many earn it and only a few master it.” ― Aiyaz Uddin

Money management skills are critical for individuals to maintain financial stability and achieve their financial goals. Teaching these skills can empower people to make informed decisions regarding their finances and foster long-term financial well-being. A session on FIRE movement i.e. Financial Independence & Retire Early was conducted in the Audio Visual Hall on 27 March 2024. The session started with an introduction to rich man’s rule of assets and liabilities and power of compounding. The resource person discussed the process of improving savings, major types of personal risks and how to cover the risks. He suggested embracing a reasonable lifestyle to reduce expenses, saving a significant portion and investing in stocks, real estate to generate passive income.