Question

how can people achieve having land, house, luxury items, good education for children with rising demands facing employees and a shrinking number of high-paying job opportunities?

Answer 1

According to Maslow’s hierarchy of needs, the needs of a person would be starting from physiological needs to safety as well as security. People also want love as well as belonging. They are also concerned about their self esteem and in the meanwhile, do also want to reach the levels of self actualisation.

Amongst these requirements, there are high costs that need to be met with in order to fulfil luxuries.

In order to cope up with the costs, the following should be done:

• There should be proper plans developed early on in the life of a person, such that they would get the time to evaluate and plan for the future.
• There should be a long term care insurance planned for. This is important b cause it helps in evading the costs of health care, or easing them making them more manageable in the future.
• There should be a personal advisor, who would help in making more effective plans.
• Among with a number of short term investment plans, there should also be a long term investment plan,which would help in securing future expenses