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This young population is mainly
employed in the manufacturing and services sectors, which divide 85% to the
Indian GDP. However, I think that India need to educate and guide the
youth to plan their opportunities in the right way to gain their financial
goals and objectives. Almost youth needs are few and income flows are steady because
of better opportunities in the present time. I also feel that there are major
challenges in this direction. There is basically lack of safety about the
financial planning or on the knowledge of financial products. A professional
advice and a trusted advisor will look at the needs and offer product and
services, which will help in fulfilling financial goals and objectives. The
real mean of youth is transition. It is mean conversion between childhoods to
adulthood, conversion between dependencies to independency. Their salary
packages are increasing and so are their responsibilities. They are leading a
good lifestyle and have high standards of living. Youth is a need to educate
this section of society so that they come out of the spiritual world and step
into reality. Young needs to understand first the difference between their
assets and liabilities. They should safe themselves from getting into the
vicious cycle of debt and EMI. Unlike the developed countries, we do not have
any social security system. It also with grim economic scenario there is hardly
any job security and pension benefits. It is important to value your earnings
and invest before spending to build a strong foundation for financial freedom.
I would like to quote an age-old adage- take care of the pennies and the pounds
will take care of themselves. Your actions now will have a huge impact in
determining how you would live your future. An avoid to all the young
professionals-enjoy your life, but live with in your means.