My First Pay Cheque

“Dreams Aligned” - Harmonizing Aspirations

Life continued to unfold new pages, and with them came the poetic turn to my Dreams. This period of 10 years of earnings and investments, was a masterpiece of self-examination and goal-setting. My corporate life guided me through the process of setting clear goals and navigating the complicated paths of investments. Implementing them in my personal life, wasn’t just about financial strategy; it was about aligning my desires with the rhythm of safety and security.

Amidst this journey, a particular dream emerged, one that resonated deeply with the experiences and aspirations of women of my age. It was the dream of creating a haven of financial independence, not just for myself but for the women around me. The turning point came when I realized the importance of financial planning in empowering women to pursue their aspirations, unhindered by financial constraints. For many, including myself, the dream was to establish a supportive network for women entrepreneurs, providing them with the financial backing and resources needed to bring their business visions to life. I envisioned a space where women could thrive professionally, breaking through the glass ceilings that often hindered their progress. This dream was not just a personal ambition; it was a collective desire to contribute to the empowerment of women in my community.

Implementing financial strategies took on a new meaning as I aligned my desires with the rhythm of safety and security. In this phase, the importance of investing in life insurance policies, such as savings plan, term plan, retirement plan and ULIP plan, became intertwined with the story of chasing dreams. It was a way to safeguard the future of my loved ones and ensure that the symphony of life continued even in my absence. The emotional significance of this realization went beyond personal aspirations; it was about creating a legacy in the ongoing masterpiece of uplifting women’s aspirations.

The journey evolved beyond wealth accumulation; it became a mission to empower women in my community. As I examined my goals—homeownership, further education, a secure retirement—I realized they weren’t just financial benchmarks. These dreams intertwined with my commitment to female empowerment, transforming them into pillars supporting not only my envisioned life but also the aspirations of women around me. The rhythm of my investments harmonized with the dual purpose of securing both my present and my loved ones’ future, creating a symphony of financial planning and societal impact.

Understanding that each plan has its own importance and significance in one’s life, and figuring out which fits best to my goals, I could conclude each plan as-

• Savings Plans: Investing a particular amount for a fixed number of years, as premiums, for systematic savings. Later, on maturity, I would receive the total premium paid, along with the interest accumulated throughout these years, in the form of lump sum returns and guaranteed income.
• Term Plans: Investing a particular amount for a fixed number of years, as premiums, for the protection of our loved ones. My family/dependents would receive the death benefit, if anything happened to me. These investments are specifically for my mental peace that yes; my family will get financial support after me. Some term policies also offer premium back plans, where we get the premiums we paid throughout the years, back after a while. And the death benefits received in term plans are way bigger than any other plans.
• Retirement Plans: Investing a particular amount for a fixed number of years, as premiums. Later after retiring, I would receive those returns as either a one-time income, or in the form of monthly/yearly/quarterly income, so that I can maintain my lifestyle, even after retirement.
• ULIP Plan- An insurance-cum-investment plan, where the premiums are divided into two parts. One goes to insurance, while the other portion is invested in market-linked investments, like mutual funds, debts, equity or balanced funds. It provides both, security and a chance to grow wealth, through market fluctuations.

Hence, studying all in detail, before investing in any, becomes crucial. Investing in life insurance policies wasn’t just a practical decision; it was an emotional commitment to the well-being of my loved ones. It was about extending the protection of my dreams to those I cared about the most. The emotional weight of this realization became a driving force as I navigated the complex paths of aligning dreams and financial endeavours.