The Importance of Planning Your Life to Deal with Worst Scenario

เมื่อฝันร้ายไม่ได้เกิดขึ้นเพียงหนึ่งครั้ง การวางแผนชีวิตจึงสำคัญ

No one has ever expected the Third Wave of the COVID-19 outbreak has become part of Thailand's record. It makes companies, department stores, employees, and business owners struggle to find their ways to manage income and expenses, including getting the business, work, and life back on track again.

The pandemic situation, in addition to providing us a clear picture of money management, emphasizes the importance of planning more in life. For someone who has never carefully planned their life, they are most likely to see significant impacts during this hard time. Therefore, It is highly recommended for everyone to review their plans for the future. These Days, most people are busy focusing on solving their short-term problems.

However, when your status recovers to normal condition, it is crucial to immediately proceed to adjusting and reconsidering the plan. There are two essential parts to keep in mind. 

1. Risk Management

Reducing the risks that may arise on the way to the desired goals is necessary because certainty is uncertain. There are no guarantees or promises that the plan will work throughout its way. Therefore, lists that should be done to prevent potential risks are as follows:

- Emergency Reserve; The first step against financial problems to avoid affecting other financial plans. In general, this amount is approximately at least 3-6 times the monthly cost, depending on the circumstance of an individual as well, such as how much stability of income. Or are there assets that can be converted to emergency cash?

- Insurances; Including life insurance, insurance, and property insurance. Reduce risks in life and sudden loss by choosing a targeted plan and benefits that meet your life goals. Or ones that encourage and support your future living, such as annuity insurance.

- Savings for Retirement; In addition to the problems that may arise in the present, we, as well, need to look to the future because planning a retirement takes time. The late planning may result in insufficient money to cover your retirement expenses. So the sooner you start, the more opportunities you have. If you are a company employee, you can get started easily by being a member of the provident fund. It grows from the accumulated money and contributions that are remitted to the fund every month, including the benefits arising from the fund. While being a member, you will receive benefits in tax. Once the membership ends, you will receive a large sum of all the balance. Learn more about the provident fund at

2. Saving and investing

Once a plan for emergencies is carefully constructed, the next thing to focus on is saving and investing. The savings should be divided into short-term, medium-term, and long-term goals. During this period, you may focus on goals for stability first. Focus on long-term investments with low market fluctuation. The choices are, for example, Super Savings Fund (SSF), Retirement Mutual Fund (RMF), or Equity Fund.

For targets that respond to other needs, there is still a chance to achieve them in the future. Keep reminding yourself that one thing that you should not do is to invest in only one channel. Instead, diversify investments to reduce the risks.

Disclaimer: Investors should understand the nature of the product (fund), conditions of return, and risks before making an investment decision/past performance is not a guarantee of future performance.

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 Ref:…, planning-a-complete-guide