Surprisingly, most people have the wrong ideas about financial planning. Financial Planning has often been confused, misconstrued, and mistaken for almost everything except what it truly stands for. The myriad financial planning of myths floating around adds to the chaos. In this blog post, we’re busting the ones we…
This blog was updated on 14 December 2020 Senthil sipped a warm cup of Suleimani Chai and watched the coconut trees dance to the wind. “This is life.” he thought to himself. He knew that he owed this moment of bliss to financial planning. NRI Status At forty-five Senthil…
It took one virus to reshape the world’s priorities. Pay cuts, job loss, and financial stress are the new normal. Families are cutting back on non-essential spends, loan moratoriums are a relief to borrowers, and people are dipping into their emergency funds. At a time like this, why should anyone…
Investing without a plan is like driving directionless on an unknown road. A map indicates your destination and the best path. Without one, you risk taking a winding route. Similarly, to make your investments work for you, you must know why you are investing. Your financial plan is a map…
Money is a daunting subject for many. The earlier we get introduced to money matters, the better we handle them. So, teaching your children simple financial lessons now will go a long way in helping them in the future. Teaching kids about money is especially important if you’re going through tough…
The pandemic is a major concern in every corner of the world and has brought the global economy to a grinding halt. So, with so much going on, should we stop planning for our goals? Financial Planning is very crucial in these times because people are becoming financially anxious. People…
Financial Planning can help you at every stage of your life. Some important elements to consider in the financial planning process are contingency reserve, life and health insurance, investment horizon, etc. Let us see how financial planning can help you at different stages of your life. The 20s: If you’re…
What is a Pension? A pension or an annuity is a fund that you purchase to receive a regular stream of income from. Income from pensions are guaranteed and make an attractive investment opportunity for retirees. There are many types of pension schemes one could choose from. Pension plans can…
Voluntary Retirement Scheme (VRS) Retirement is closer than we think. Especially for those opting for the Voluntary Retirement Scheme (VRS). VRS is a scheme offered by employers to incentivise long-term employees to retire early. Normally, employees stay in the workforce until they attain superannuation (i.e. turn 60). Through the voluntary retirement scheme, employees who…
At weddings, Indian families want to showcase their socio-economic status. No wonder Indians spend over Rs. 1 Lakh Crores annually on weddings. Making well-informed decisions for your wedding expenses could save you a few lakhs of rupees. We have seen many instances where the bride and the groom end up…
What is a premortem? We’re all familiar with the concept of a postmortem. Essentially, a postmortem analyses events after they occur. Postmortems are excellent teachers – they highlight what went wrong and why. So, they fill us with food for thought and ensure that we don’t repeat mistakes. However, some…
Every retiree recognizes that personal finance never sleeps. A retirement corpus requires regular rebalancing. The personal finance story goes on even after the paychecks stop. So, retirement is a break from work and not from managing money. Einstein was once known to have remarked that the hardest thing in the…