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Complete Guide On Goal Based Investing

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Complete Guide On Goal Based Investing

The need for financial planning could not be more stressed in the current era we live in than ever before. In the past few years, individuals have faced unpredictable events and now, they view investing as a crucial activity. As most milestones to be achieved in your life have certain financial elements attached, the requirement for goal based investing is more important than ever. Apart from achieving your financial milestones, like a marriage expense, for instance, you must also set goals to have emergency funds in place.

Understand Goal Based Investing

When you actively work towards a financial goal rather than chase after returns, you are effectively engaging in goal based investing. A key strategy to get your goal based investing on the right track is to first establish a financial goal (or goals), according to your age, your income, your expenses, your savings, and your risk tolerance. Based on all these details, think of the goals to be achieved and the time in which you wish to achieve them. You can calculate an estimate of the funds you will need to achieve your goals in a stipulated time span. When you are computing actual amounts to be collected, you have to consider the following, apart from your regular expenses and savings:

  • The rate of inflation
  • Any potential increase in your income
  • Any incidental expenses
  • Emergency expenses (like those for healthcare, etc.)
  • Any other investments you may be considering or may have

After you have set the ball rolling towards your goal based investing plan, the next thing you have to consider is where to invest your capital. This is largely dependent on your appetite for risk, the time frame to achieve goals and the size of your final corpus.

Goal Based Investing Objectives

The main objective of any goal based investment scheme is to meet your lifestyle, family,  and personal goals. Here, a long-term investment strategy is a key to achieving your financial goals, and the earlier you begin, the better it is. For one thing, you get into the saving and investing habit early, and your wealth has a longer timeframe in which to grow substantially. Certain plans may benefit you while you are young too, and specific products, like life insurance cum investment plans, may offer you lower premiums.

It is important to note that goal based investing is unique to each individual. Goals are various and could include purchasing a house, an expensive holiday, a child’s marriage, a child’s education, investing for retirement, or even indulging in philanthropic activities. Furthermore, goal based investing does not necessarily have to be with a long-run view in mind. Usually, goal based investing is done for the long run, but you could also have short-term goals to be achieved. Goal based investing acts as a guide to give investors a realistic, workable, and well-defined financial strategy to be successful financially.

Advantages of Goal Based Investing

A guide on goal based investing wouldn’t be complete without listing the perks you get when you actively make a plan for your future. Here are some vital advantages of goal based investing:

  • Focus and Clarity – Goal based investing is a strategy that can generate a focused plan for financial investments toward meeting future goals. It views saving and investing as somewhat sacrifices that have to be made – you give up spending today, to build wealth for the future. This is the motivation that goal based investing gives you – the goal of a better future for you and your family.

With the focus that goal based investing gives you, you attain discipline and a habit of investing that is only beneficial to you in the future.

  • Management in Investment – With goal based investing, you have a target goal at the centre of your attention so you do not waver in your conviction to invest. Investors who have definite goals stick to their plans of investment and remain unaffected by market fluctuations and other impulsive actions that may affect investment adversely. With investment products like ULIPs, goal based investing can work wonders for you to collect a corpus for your future.

You also get to know about the time horizon to achieve your goals, and analysts suggest that for goals to be achieved in the short run (around 1-2 years), you should allocate funds in debt and fixed income instruments. For achieving mid-term goals, you can go in for a blend of equity and debt. As many investors already know, long-term financial goals call for the maximum amount of exposure to equity. For the long haul, you may have an investment horizon spanning five years or more. Equity ULIP funds can give you substantial returns in the long run.

How to Get Goal Based Investing Right

Once you have successfully identified and quantified your goals, you can begin to invest. With your current income in mind, as you cannot be sure that it will change (for the better or worse), you must calculate the amounts you can save and invest according to your goal based investing plan. In case your outflow per month is more than you can save, you will be required to cut out non-essential expenses in order to invest. At the same time, you need to save and invest a portion of your capital for an emergency fund, either in a fixed deposit or any other liquid instrument.

When you have all your plans straight in your head, you can think of the instruments you want to invest in. There are many on the market, including plans for long-term asset allocation. The key is to be accurate with your plan and formulate it with a realistic approach.

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Chris Dixon, RFC: Shaping the Future of Retirement Planning

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Shaping the Future of Retirement Planning

Chris Dixon stands out as a beacon of innovation and expertise in financial advisory. As a co-founder and managing partner at Oxford Advisory Group, Chris Dixon brings a wealth of knowledge and a unique perspective to retirement planning and tax-efficient strategies for retirees. His robust background, which combines a Bachelor of Science with Political Science Honors and a certificate in Sustainable Business Strategy from Harvard Business School, makes his qualifications impeccable.

A Commitment to Tax Efficiency and Education

Chris Dixon’s role at Oxford Advisory Group transcends traditional financial planning. His focus on developing tax-efficient strategies and income planning for retirees places him at the forefront of financial consultancy. Chris Dixon’s approach is not just about ensuring financial security for the present but paving a way for his clients’ sustainable and prosperous future.

Personalized Strategies for Every Client

Chris Dixon’s expertise goes beyond just offering financial advice; he excels in crafting personalized financial strategies that cater to each client’s unique needs. Understanding that no two financial situations are alike, Chris Dixon RFC employs a meticulous approach to financial planning, ensuring that every plan is tailored specifically to the individual’s goals, lifestyle, and future aspirations. This personalized touch sets Chris Dixon apart in the industry and guarantees that clients receive the most relevant and impactful financial guidance possible.

Bridging Knowledge Gaps with Seminars and Media Appearances

Recognizing the importance of financial education, Chris Dixon actively participates in informational seminars on Taxes in Retirement and Social Security. His commitment to sharing knowledge extends beyond personal interactions. Chris Dixon is a co-host of “Reinventing Retirement” on TV and radio, platforms that significantly broaden the reach of his valuable insights.

Authorship and Influence

Chris Dixon’s contributions to the financial industry include co-authoring the book “Total Tax-Free Retirement.” His articles and expert opinions have been featured in prestigious publications such as Newsmax Finance, Yahoo! News, Nasdaq, and US News, marking him as a thought leader in retirement planning.

Leadership and Vision

Beyond his immediate responsibilities, Chris Dixon’s influence extends to mentoring other advisors nationwide and sharing his tax strategies and planning techniques. His involvement with top Wall Street banks and his role on the board of the Advent Health Foundation illustrates his commitment to both the financial and broader community.

Entrust Your Future with Christ Dixon

Choosing Chris Dixon as your Registered Financial Consultant (RFC) means entrusting your retirement planning to a visionary deeply committed to your financial well-being and future. With Chris Dixon and the Oxford Advisory Group, retirement planning becomes not just a necessity but an empowering journey toward achieving your dreams.

In an ever-evolving financial landscape, Chris Dixon, RFC, represents a trusted guide committed to helping retirees navigate the complexities of financial planning with confidence and foresight. His dedication to tax efficiency, coupled with a proactive approach to education and community engagement, sets a new standard in financial advisory services.

Contact Oxford Advisory Group Today

For those looking to secure their financial future with a partner who truly cares, Chris Dixon, RFC, at Oxford Advisory Group is an unparalleled choice. His expertise and innovative strategies ensure that retirement is not just a phase of life but a new beginning full of possibilities and peace of mind.

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How Does a Charge Off Work

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How Does a Charge Off Work

In the realm of debt resolution, few terms evoke as much confusion and concern as “charge-off.” For many, it’s a dreaded status that signals financial trouble and uncertainty. But what exactly does it mean, and how does it impact your financial life? In this article, we’ll take a closer look at the ins and outs of charge-offs, shedding light on this often misunderstood aspect of credit and debt management.

Unraveling the Charge Off Mystery

At its core, a charge-off represents a significant milestone in the life cycle of a debt. When a lender or creditor deems an account uncollectible due to non-payment, they may choose to charge off the debt. This decision essentially acknowledges that the debt is unlikely to be repaid in full and allows the creditor to write it off as a loss for accounting purposes. However, it’s essential to understand that a charge-off does not absolve you of your legal obligation to repay the debt. Instead, it marks the beginning of a new phase in the debt collection process.

Navigating the Aftermath: What Happens Next?

Once a debt has been charged off, several scenarios may unfold. In some cases, the creditor may opt to sell the debt to a third-party debt buyer, who will then attempt to collect on the outstanding balance. Alternatively, the creditor may transfer the debt to a collection agency, which will pursue repayment on behalf of the original creditor. Regardless of who holds the debt, you remain legally obligated to satisfy the outstanding balance, subject to the terms of the original credit agreement.

Understanding Your Options: Debt Resolution Strategies

Facing a charged-off debt can feel daunting, but it’s essential to remember that you have options for resolving the situation. One potential avenue is debt resolution, which involves negotiating with creditors or collection agencies to reach a mutually acceptable settlement. This could involve agreeing to a reduced lump-sum payment, setting up a structured repayment plan, or exploring debt consolidation options. By proactively addressing the issue and working toward a resolution, you can take control of your financial situation and begin to move forward.

The Importance of Communication: Navigating the Collection Process

Throughout the collection process, communication is key. If you receive notification of a charged-off debt or are contacted by a debt collector, it’s crucial to respond promptly and engage in open dialogue. Ignoring the situation or avoiding communication with creditors and collectors will only exacerbate the problem and may result in further legal action. By staying informed, being proactive, and seeking assistance when needed, you can better navigate the complexities of debt collection and work toward a positive resolution.

Conclusion: Empowering Yourself with Knowledge

In conclusion, understanding how a charge-off works is an essential step in managing your financial health and addressing outstanding debts. While the prospect of a charge-off may seem daunting, it’s crucial to remember that you have options for resolving the situation and moving forward. By educating yourself about the collection process, exploring debt resolution strategies, and maintaining open communication with creditors, you can take control of your financial future and work toward a brighter tomorrow.

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The future of commercial aviation: Trends and innovations

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The future of commercial aviation

As the global landscape of commercial aviation evolves, propelled by technological advancements and a growing emphasis on sustainability, the industry finds itself at the cusp of a transformative era. The latest trends and innovations that are reshaping the future of commercial aviation. From sustainable practices to groundbreaking technologies and enhancements in both aircraft design and passenger experience, the trajectory of the aviation sector is marked by impressive developments.

Sustainable aviation takes flight

One of the most significant shifts in the aviation industry is the concerted effort towards sustainability. Airlines are increasingly recognising the imperative to reduce their carbon footprint and embrace eco-friendly practices. Sustainable aviation fuels (SAFs) are emerging as a promising solution, derived from renewable sources, and engineered to curtail greenhouse gas emissions. As airlines worldwide commit to net-zero carbon goals, the integration of SAFs is becoming a cornerstone of their environmental initiatives.

In November of 2023, Emirates completed a demo flight from Dubai International Airport using an A380 with one of its four engines using 100% SAF. Virgin Atlantic has also proven the successful performance of SAF during a flight from London to New York. The Boeing 787 engines were fuelled completely by 100% SAF.

In parallel, aircraft manufacturers are exploring electric propulsion systems and hybrid-electric aircraft. These innovations aim to minimise the reliance on traditional jet fuels, paving the way for cleaner and more environmentally friendly flight operations. Sustainable practices are not just a trend but a fundamental shift towards a more responsible and eco-conscious future for commercial aviation.

Emerging technologies transform the skies

The future of commercial aviation is intricately linked with cutting-edge technologies that promise to redefine how we fly. Artificial Intelligence (AI) is playing a pivotal role in enhancing operational efficiency, from optimising flight routes for fuel efficiency to predictive maintenance, ensuring aircraft are in peak condition.

Moreover, the concept of autonomous flight is gaining traction, with advancements in autonomous systems and unmanned aerial vehicles (UAVs). While fully autonomous commercial flights are still on the horizon, the integration of autonomous technologies is gradually becoming a reality in certain aspects of aviation operations.

The implementation of 5G connectivity is set to revolutionise in-flight experiences, providing passengers with seamless internet connectivity, real-time entertainment streaming, and enhanced communication capabilities. The connected aircraft of the future is not just a mode of transportation but a hub of digital experiences, transforming the way passengers engage with the world from the sky.

Advancements in aircraft design

Innovations in aircraft design are reshaping the very structure of commercial planes. Lightweight materials, such as advanced composites and carbon fibre-reinforced plastics, are increasingly replacing traditional metals, contributing to fuel efficiency, and reducing overall weight. These materials, coupled with aerodynamic advancements, result in more streamlined and fuel-efficient aircraft.

The development of supersonic and hypersonic aircraft is another frontier that holds promise for the future of aviation. These high-speed planes have the potential to drastically reduce travel times, opening up new possibilities for long-haul flights and global connectivity. Although still in the experimental phase, the prospect of supersonic and hypersonic travel signals a paradigm shift in the way we conceive air travel.

Elevating the passenger experience

As the aviation industry embraces technological advancements, the focus on enhancing the passenger experience has become the focus of several airlines. From the moment passengers step into the airport, technology is deployed to streamline processes, reduce wait times, and create a more personalised journey.

Biometric technology, including facial recognition and fingerprint scanning, is becoming increasingly prevalent in airports, simplifying the check-in, security, and boarding processes. This not only enhances security measures but also contributes to a more seamless and efficient travel experience.

Inside the aircraft, the cabin itself is transforming. Modern interiors are designed for comfort, with smart seating arrangements and customisable spaces that cater to diverse passenger needs. In-flight entertainment systems are evolving to provide a more immersive and personalised experience, offering passengers a plethora of entertainment options at their fingertips.

Shaping the future of aviation education

Amidst these transformative trends, the role of aviation education, especially those undergoing flight training in Australia, becomes pivotal. The demand for skilled professionals, including individuals holding a Commercial Pilot Licence, is poised to grow in tandem with the expanding aviation landscape. Future pilots need to be equipped not only with traditional flying skills but also with a deep understanding of the evolving technological and sustainable aspects of modern aviation.

As aviation education adapts to these changes, aspiring pilots must undergo comprehensive training that encompasses the latest technologies, sustainability practices, and the nuances of operating advanced aircraft. The future of commercial aviation relies on a generation of pilots who are not only proficient in the art of flying but are also attuned to the industry’s dynamic and progressive nature.

Soaring into the future

The future of commercial aviation is an exhilarating journey into uncharted skies, guided by the compass of sustainability, propelled by cutting-edge technologies, and defined by a commitment to passenger-centric experiences.

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