Want to spend more than you earn?
Everything is possible; this is truer today than it was ever before. Today, we live in a time where we can desire to have more, can afford more and there is maximum likelihood of achieving all that we expect out of life. Following are two questions to which you must...
A plan of action before you retire
So, you have decided to call it a day from an active work life. You plan to relax and spend more time pursuing your hobbies, maybe. Well, a lot of people these days, are increasingly calling retirement an age of 'financial independence'. The reason is simple -- you...
How soon can you retire?
A common trend these days is retiring early. A standard question I am asked is, ”How soon can I retire?” The following are some of the factors that govern this query: Your existing savings and the investment strategy for the same. Your proposed level of savings going...
What your child needs for that dream career?
We all work and earn to enjoy the good things in life. A trip abroad, a new car, a well furnished house with modern amenities - we work more harder each day and save more to fulfil these aspirations of life. But if savings don’t grow at a rate higher than the rate at...
What is my ‘Optimal Level’ of money?
Prakash Mehra is 58 years old. He lives in Hong Kong and is going to retire at the age of 60; 2 years from now. Upon retirement, he plans to settle down in Mumbai, his hometown. The month of October 2007 will go down as the most historic month of his life. He has sold...
Comparative Study on PIO CARD HOLDERS / OCI
1. Who? PIO Card Holder: A person registered as Person of Indian Origin (PIO) Card Holder under MHA’s scheme vide Notification No. 26011/4/98-F.I dated 19.08.2002. OCI: A person registered as Overseas Citizen of India (OCI) under section 7A of the Citizenship...
Loans: how lenders rip you off!
Feeling stressed? Well, it could be because you still haven't paid back your home loan! Yes, loans and other sources of debt are one of the biggest causes of stress these days. More and more people dive into a loan without thinking if they can afford to pay it back,...
Gifting Your Child The World
Facts of the case: If I were to ask 10 parents what is the single most important thing to you in your life most likely that all would say “the future of our children” You want to give the best to your children. You want to see the future that you have been dreaming...
Financial Planning for new parents
The birth of a child in the family is one of the most joyous moments of our lives, it’s a celebration of life. Welcoming the new member of our family not only marks the beginning of a new chapter but is also a turning point in our life. Those who have just had a baby...
Insurance – Myths & Facts
Myths - It takes time to develop. Years, generations go by, then someday we realize that there are better ways of doing something. Till then it was an accepted practice or habit. We have a natural tendency to follow others who have taken the same path before us. We...
Retirement Blues – A Memoir
Yes, I know that I have to plan for my retirement. But is not there enough time to do that? I think so. That’s why I have decided to start this planning sometime in near future. I will start the process after I settle few things in my office. I will start the process...
Safeguard yourself from financial frauds
You might be a victim of a financial fraud and chances are you do not even know about it. This can happen and there is nothing you can possibly do to control this. It does not matter who you are or whom you know or where you are from or what position you are at....
Investing in property with caution
Since the beginning of time this has been one facet of human life where we see a striking commonality of thoughts all across the world. For most people it is the first investment, for many it's the only investment and further many believe that this is the only...
Health Insurance – a small step towards Financial Planning
This is a story about Vandit and Mehek. Vandit is working in a top-end IT Company in Mumbai and Mehek, his friend, is working in a foreign Bank and aspiring to be a Financial Planner soon. A month ago Vandit lost control on his bike due to a pothole and suffered minor...
Act on knowledge not information
Whenever there is confusion and no definite answers are available to most questions in my mind it’s a tussle of acting with knowledge v/s information. The confusion stems from the fact that people tend to act on information more and generally without application of...
Trust your own conviction
If someone were to ask me what is the best investment to do, my perpetual answer is and always will be, “Invest in You”. That’s right, you are your greatest asset and you are responsible for everything you do whether you create or destroy wealth. The number of people...
What is goal planning?
“You must plan for your financial goals”, “We conduct a complete needs analysis and then give you solutions”, “Our method is superior” so on and so forth. These lines are used as punch-lines by most financial product sellers while talking to you and posing as...
Taxing Season Again
Most of what we do with respect to tax saving / planning/ investment whichever way you call it is going to be of little or no use in years to come. The returns from such investments are likely to be minuscule and / or they may not serve any worthwhile use of your...
The Perfect Investment
Generally speaking when we talk of investments there is just one thing most people want. They want to know what the best investment is that will maximise returns is or what is the best mutual fund or what is the best stock portfolio. In other words there is a...
Buy Strategy Not Products
I bet you have asked yourself these question many times over, what is the best thing I can do with my money? What is the best investment avenue available today? What is the best stock or mutual fund to buy? Quite rightly so these are valid questions and your everyday...