Webinar on ‘How to Plan Your Investment Carefully to Achieve Financial Independence’
The BBA(Financial Services) Department in association with Mumbai Educational Trust (MET) Institute of Management, Mumbai, Maharashtra organised a Webinar on the topic “How to plan your investment carefully to achieve financial independence” for Second Year and Third Year BBA(Financial Services) Students on Tuesday, 08th March 2022 from 10:30 a.m. to 12:30 p.m. through the Google Meet Platform.
The Webinar aimed at helping the students in understanding their financial goals and also to guide the students from financial literacy to financial independence.
The Resource Person for the Webinar was Prof. Akhil Shetty, Assistant Professor – Finance, MET Institute of Management, Mumbai. At the outset, Ms. Sanchia Patricia Da Costa, a student of SY BBA(FS) B class, commenced the Webinar with a brief introduction followed by the welcome address by Dr. Rodney D’Silva, Vice-Principal. Mr. Saeesh Naik, a student of SY BBA(FS) B class introduced the Speaker of the Webinar.
Prof. Akhil Shetty commenced the Webinar with an Introduction on the topic, wherein he said that we have to do early investment so that the money grows faster and taking control of our finances.He further provided an elaborate explanation on the following topics:
6 steps to your financial freedom
Set financial goals and priorities
Quantify your financial goals to freedom
Start saving and investing prudently
Review your portfolio periodically
Remain focused on your goals
Be diligent and patient
Rule of 72
The 50/30/20 – Budgeting rule (50% needs, 30% wants & 20% savings)
Different products for investment
100 minus age rule
Steps to build an emergency fund
Decide the size of your emergency fund
Identify highly liquid saving products
Create a financial plan to build your emergency fund
Insurance plans
SMART financial goals
Simple and optimal investing strategies
The Webinar also laid emphasis on how to become financially independent? How much money do you need to be financially independent? How do you plan for financial independence to retire early? What are the benefits of financial independence? and How do you achieve financial success?
Prof. Akhil Shetty concluded the Webinar by stating that achieving financial independence is not an overnight phenomenon. One needs to keep at it for long periods of time to eventually get there. However, by making smart decisions and thinking long-term one can ensure that it made possible.
Prof. Akhil Shetty eloquently responded to all the questions put forth by the participants. 89 Second Year and Third Year BBA(Financial Services) Students attended the Webinar. The Webinar ended at 12:30 p.m. Ms. Sanchia Patricia Da Costa, a student of SY BBA(FS) B class was the compere for the Webinar while MET Institute of Management, Mumbai hosted the same. Asst. Prof. Lizia V. Gomes, the in-charge faculty, proposed the Vote of Thanks. The MET Institute of Management provided system-generated e-certificates to all the participants on their registered e-mail IDs after the online feedback submission.
Overall, the session was very interesting and interactive.