Many of us know that there are rules of Investing. We also know that Rules are meant to be BROKEN. However whether you want to follow them or break them, there is no escaping knowing them! Here the aim is to warn YOU that it is a complex world, and rules are not enough…… If [...]
This is a touchy topic! Should parents give money to adult kids? Let us say for the following: Buying a car Buying a house Higher education Marriage For an expensive vacation (expensive because the kid cannot afford it) I do have strong views on this. Everybody should learn to live within their means. If you [...]
Recently we heard of Suchitra Krishnamurthy taking her advisor Hsbc to court over her funds being poorly managed. She may or may not win the case, but what is the learning for celebrities (and us too!!) from SK’s case? What could she have done differently if there was a second time around? Well here are [...]
I am an anarchist and do not believe that Rules and Regulations are very important. In fact I do think that lawyers, accountants and even doctors exaggerate their educational processes. Having said that when I meet financial planners who do not understand: Indian Income tax – especially clubbing, scope of what is Income, the difference [...]
We are in the cowboy stage of financial advisers. Let us say something like the 1970s of the stock exchange or the 1940s of the banking industry! Let me list a few: 1. If you do not understand equity markets stay away: Correct advise only if you are so damn rich that you are not [...]
One financial planner met a client and had the following details: A 38 year old man with a daughter from an earlier marriage (age 11) a son from the present marriage (7 years) a housewife, parents needing support and a mother in law dependent on him. (5 complete dependents, daughter partially dependent – his ex [...]