Old age, death, retirement, are all very far away in life. Life is fun. You have just started earning, why should you start financial planning? And for heavens sake at the age of 23!? Well read on. Most 23 year olds are different. Most of them have financial needs that differ materially from those of […]
The key to quality insurance is in choosing a good quality Agent. The word agent comes from the Indian Contract Act, 1872 and it is the Christian name for the guy who brings insurance / mutual fund product to your door step. Nowadays they have various names like Consultant, advisor, and the like, but I […]
The process of providing financial fitness involves four basic steps. If you have the time, objectivity, inclination (to take time off from your family to do this) and expertise in accounting (to file your tax returns), investments, taxation, insurance, and estate planning, you can do this process on your own. However, avoiding personal bias is […]
Personal financial planning is the development and implementation of a comprehensive plan to help a person achieve financial goals. The idea is to focus on these goals as the starting point in a financial planning process. In the planning process, an individual’s financial affairs (i.e., investments, savings borrowings, insurance, retirement plans, estate plan, charity, and […]
First Make a budget! Budget, is normally a word which has negative connotations! If you see saving and investing as “consumption foregone today for consuming at a later date” you might see it in a different light. One of the challenges with proper budgeting is that it has to become habitual to be effective. You […]
Uma Kannan is a good friend and an ex- blue blooded MNC banker. Here she is taking potshots at her own ilk. She says when she was with the bank, she was a “rogue deal seeker” but she felt good in calling herself a relationship manager, investment adviser, associate director…and various other nice names which HR faithfully found […]
Innumeracy – a lack of understanding of mathematics. It keeps happening in the media all the time. Many writers and broadcasters do not understand the difference between “what cannot happen” and “what has not happened”. Yesterday Mr. Anil Ambani was saying that he has 100 million customers – i.e. about 10% of India’s population who […]