Recently, a friend of mine wrote a cheque for Rs 14,45,000, the sum total of the hospital and care bill for his father. And this amount was spent in less than six months. At least, this friend works in a great company has a great salary, and a very, very high savings rate. He knew [...]
The current generation of clients whom I meet is inheriting nice big round amounts of money. However since their own salaries are far, far higher than their parents, the amounts do not look big. This means the `inheritors` may feel bitter about some inheritance arrangements, but it is not leading to too much of litigation. [...]
For many generations we have believed what we own (i.e. items on which we are allowed to put our names) are our assets, and monies that we owe are our liabilities. It took Robert Kiyosaki to tell us that assets that put money in our bank are our real assets – equity shares, rental property, [...]
As a part of my personal financial planning seminars, I come across thousands of customers who are looking for advisors. As a part of my training sessions, I come across millions of agents who are looking for customers. However, for me it is not just picking up a telephone number and passing it [...]
If you wanted to make a career in a sport would you just watch that sport on television and hope to be a world beater? No, I guess. Similarly if you want to be a good investor watching television or the pink papers or the personal finance magazines and websites may be not the best [...]
A Few weeks ago I had done a post on how to look at your personal finances like a corporate would. The suggestions were to learn what is burn rate, savings rate, take charge of financial goals etc. However many people have written in to say all this is too complicated. So I decided to [...]