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 […]

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  A financial adviser has to have the guts to ask the end customer (read YOU) some questions like the following mentioned here: 1. Your qualification is good, and your salary is great, but can you really make a 15 year commitment of EMI for the housing loan that you are taking – at your […]

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I just did a post saying ‘Men and Money’ so here is a post on Women and Money. Assuming that the Man is the main provider and the wife is the secondary (financial) provider, what are the things she should do to know how much is the husband earning? Is it enough? Are they living […]

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If you went back in time, most ‘middle class’ people were spending a big fortune of their income on ‘essentials’. Imagine in the 1980s – a person earning Rs. 5000pm (almost a HUGE salary!) – could have been spending Rs. 2000 a month on household expenses. This was about 40% of the take home salary. […]

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Many people have asked for a follow up on the 15L CTC story…. 1. A planner should plan, not pass value judgement on how the client should behave. 2. To me a guy attending to all temple functions and blowing money traveling to all the temples in India is just as stupid as the guy […]

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A friend called me with a surprising question. Let us call him M.D. He bought a house in Navi Mumbai for about Rs. 80 Lakhs, – of this about Rs. 55 lakhs was funded by a loan from the State Bank of India. Over the last 4 years he had paid a lot of interest, […]

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