A Case for Long term Care Planning
A person who requires long term care might or might not have an illness or disease but he is unable to perform basic activities of daily living (ADL) which include walking, dressing, bathing, eating, continence etc. Today’s typical urban family is husband, wife and one child. Twenty five years hence when these single children start their own families, the situation will be that there will be...
Read MoreNSEL-E-GOLD Product Review
Gold has immense attraction for all. If there is a gold product launched, there is immediate interest generated. Most people have now started looking at gold beyond jewellery, in the form of investments. There are several options available now for people to invest in gold. One of the lesser known ones is the NSEL E-GOLD product. Let us look at what this product is all about. The...
Read MoreShort Term Investing
My friend Ritu works for an IT company. She called me few days back with a quick question. Her husband Ramesh worked for a company that had ceased its India operations a few months ago. Presently he was on look-out for a new job. He recently received his PF payout amounting to about Rs. 10 lakhs. They were wondering where to invest it for the next six to eight months, till the time Ramesh could...
Read MoreSuddenly Single – Financial Issues in Death
A death in a family is bound to have financial repercussions; more so, if the deceased was an income earner. The emotional aspects aside, life goes on. The survivors have to pick up the loose ends and get back to the business of life. To set their lives in order, they will have to take care of certain important aspects. First thing, on anything to do with the deceased’s finances, the survivor...
Read MoreUnderstanding Mutual Fund Factsheets- Part 3
In the earlier parts of this series, we have had a look at how to understand factsheets pertaining to equity mutual funds. Let us now look at the other side, the debt funds. Debt being a separate asset class has different measurable parameters for judging risk and return. Let us first understand what is a debt product? A debt product means there is a person who loans money and a person who...
Read MoreUnderstanding Mutual Fund Factsheets- Part 2
In the last article we saw the basic layout and important features in a fund factsheet. Now let us get into understanding what the volatility measures as seen in the fund factsheet mean. Please note that here we are discussing an equity scheme. The factsheet details for a debt scheme will be very different from an equity scheme. We shall see the factsheet of a debt scheme in the next and...
Read MoreUnderstanding Mutual Fund Factsheets- Part 1
Most investors do not really look at factsheets. Or if they do, it is only cursorily. But mutual fund factsheets have a plethora of information that can help you make an informed choice about investment in a particular fund. For existing investors it serves as a guide to the way their funds are being handled Let us have a look at a typical fund factsheet and try to understand how it can help you...
Read MoreMoney Matters for Newly Weds
Marriage brings in a promise of everlasting togetherness and joy. The newly-weds need to work towards keeping these promises. Money matters, though boring and routine, are important to keep up these promises. Open communication in these matters, is extremely important. It is important for the couple to share their dreams, aspirations and goals with each other. This will help them work in tandem...
Read MoreBe a Good Client
Advisors/financial planners and intermediaries in personal finance industry have a fiduciary responsibility towards their clients. But clients too have responsibilities that make the relationship flourish and be rewarding for both the parties. Let us look at what traits would a good client have: Know your Expectations: The first and foremost thing is to know your own expectations. This will help...
Read MoreUnderstanding your Risk Appetite
It is important to understand that most investments come with a certain amount of risk. Deciding on asset classes to invest in depends on your levels of risk tolerance. Once you are aware of your own risk appetite, you will not be affected by market volatility. Let us look at how you can understand your risk tolerance. Having a look at your portfolio or the way your family has been investing over...
Read MoreParadigm Shift-Think Goals, Not products
The most common way of investing is to look out for new products in the market and buy what everyone else is buying. When there is a new product which is heavily advertised or aggressively pushed by intermediaries, people get curious about it. If their friends are investing in it, they want to do the same. Isn’t it time you pause to think about what you really need. There has to be paradigm...
Read MoreWhat is your Money Emotional Quotient (EQ) ?
Money has no emotions but is the reason for all kinds of emotions! Though not many people would talk about it especially if it is related to their own money, there is no denying the fact that money is the single most important factor in our lives today. There are clichéd sayings ‘money cannot buy you happiness’ or ‘money is the root of all evil’. They only emphasize the extent of our...
Read MoreWhen do you want to Retire
In olden days people used to get into a job after college and retire from there when they turned 60. Gone are those days. In today’s fast paced world, youngsters are very clear about their life goals. While in college they already plan when they will retire. With the myriad career opportunities available, it is easy to plan careers and retirement too. What is retirement? There are many...
Read MoreTerm Insurance
The purest form of insurance is term insurance. This covers the risk of death of the insured, so as to provide the dependents with a financial safety net. Inspite of the extreme importance of this kind of cover, it is a plan which is rarely sold by insurance agents. Why do you need term insurance? In economic terms, the value of human life is equivalent to the amount of money it generates for the...
Read MoreNon-financial issues in Retirement
Money cannot buy everything, but it can sure make life easier. If cashflows are in place, retirement becomes very comfortable. For a financially independent person, it will be very difficult to be able to adjust becoming dependent on someone after retiring from work. Besides there are other issues to be dealt with. Retirement brings lot of free time on hand. People are used to a set routine for...
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