This is from experience – the advantage of meeting 5000+ people is enumerated here
1. Have a realistic expectation from the financial planner (see yesterdays post)
2. Know what to expect from a planner
3. If you do not have your data in an organized manner, the planner is not likely to spend time organizing it [...]
Sounds funny but we may have reached a state in our lives that we need coaches for many things. It is not far away that a Wedding Planner will include ‘pre-wedding’ arrangements like doing a medical test for the bridal couple, arrange for a session by a financial planner – on how to manage your [...]
Two interesting conversations with two different Independent Financial Advisors was very interesting. It is worth mentioning here!
Normally the word cheated or cheating is assumed to be associated with the client being cheated, but in these cases it was the adviser who was cheated.
When I started my articles for doing my Chartered Accountancy in Sharp & [...]
Financial inclusion, Financial Advisory, Financial planning, Financial planner, Financial literacy….vow these are the catch words today is it not? And all the financial product manufacturers, bankers, websites, etc. are now getting into all of these in some form or the other. It is politically a great sales pitch. However it reminds me of an English [...]
http://www.subramoney.com/book-written-by-me/
“Whatever I do, my weight does not come down” and “Whatever I do I cannot reduce my expenses” – are commonly heard statements. If you are a doctor, a wealth guide, a financial planner, …you hear both of these statements. Normally people do not write down diligently what they earn, spend and invest. Similarly for [...]
If you have a financial planner with a ‘product sale’ mentality – especially who has sold loan products also in the past, there is a good chance that he would suggest leverage. Leverage means borrowing. So read on…
Financial planner: Borrowing sensibly is a good way to build wealth. Do a disciplined borrowing and you will [...]
There is one person who is rarely quoted in Financial Circles. He is George Bernard Shaw. He said “Whenever I go to my tailor, he measures me up”. I wish all of us would do it! Once we decide on a particular thing we do not let new facts change our minds. We carry prejudices [...]
Retirement
Financial Planner: Retiring early is a great thing to aim for.
Client reaction: Retiring early is a problem. Retiring at 52 will mean 45 years at home. This for my wife will mean more husband and less income! I have no hobbies, what do I do?
Americans at least need to develop some hobbies since their childhood. [...]
Suzie Orman says: Keep enough money in ultra safe accounts to cover life’s emergencies, – say 8 months expenses – but no more.
Financial planners talk only of an income emergency. They do not talk about an asset emergency. When your assets crash and you are reluctant to sell at the current prices it is equivalent [...]
If your financial planner told you “The longer your time horizon, the more stocks you should own”. You need to tell him “Time isn’t everything. You must also consider I am a broker in the life insurance business!”
It’s one of the basic rules of thumb: The more years you have to recoup losses, the more [...]