Synchronize year-end investments with goals
It’s the time of the year when individuals rush to sign up policies or do investments which have no direct link to their financial goals but more to do with saving taxes. Insurance agents get on a calling spree to sell their products, be it life insurance to get you exemption under section 80C or medical policies to get you exemptions under section 80D or any other. These calls can be...
Read MoreGet-Set Returns for your Goals!
Most people invest for getting great returns and some try to get that thorough insurance policies. People ask me which stocks will rise in the next week, which mutual fund scheme is providing the highest return etc.? Is it time now to invest in Gold or whether the stock market will move up or down? Are there any schemes which double our money in the next two-three years, etc., etc? Ask yourself...
Read MoreA Goal Remains only a Goal Without a Plan
In many cases investors end up investing and planning haphazardly although they have goals, instead of working through a comprehensive plan. A comprehensive plan systematically eliminates the concerns and dangers that individuals, their families and their businesses face. A plan makes things happen. In our daily life we see people start investment without proper goals and a right plan. Financial...
Read MoreSetting Goals – Differentiate Needs and Wants
Setting Goals is the most important aspect in financial planning, as it sets our target for which we have to arrange our resources. But this is the most confusing and difficult task for many. When I ask people to write down their goals, many write as: big house, big car, super education for kids, exotic foreign vacation etc. It is only when I sit and explain them the difference between needs and...
Read MorePlan Your Investments to Achieve Financial Goals
Assess the Risk Appetite Anil and Sunil are working in TCS as software engineers. Anil is 36 years old. Sunil is 52 years old and wants to take early retirement at 55 years. Their take home monthly salary is Rs.1.25 lakhs and Rs.2.00 lakhs, respectively. In order to assess their risk appetite, we need to assess their willingness to take risk, capacity to take risk and need to take risk. Anil is...
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