Portfolio Management Services is one of the pleasant side effect of being "Super Rich". If your bank is offering Portfolio Management Services to you than it means that you have arrived in life. In short, welcome to Super Rich Club. Once the bank see money in your account, you will start getting attention from one street smart bank executive. Indians are typical attention seekers. The more attention you get, the more you want. Banks leverage this syndrome and treat super rich club like VVIP's. The ultimate goal of bank executive is to sell Portfolio Management Services to "Super Rich". Who ... Read More
5 Financial Planning Myths
Myth is always far from reality. It applies to some of most common or following 5 financial planning myths. The goals and objectives in our lives keep changing with time. In India, Financial Planning is loosely correlated to Retirement planning which is not true. In laymen terms, We need Financial Planning for each & every critical financial goal in life. Be it Kids Education, Buying a Property or Retirement. Different financial goals have different time frames e.g. i have time frame of 10 years for kids education or 15 Years left for retirement. The biggest roadblock to financial planning ... Read More
7 Ways to Avoid Debt Trap
The 2 Biggest Traps of Life are Marriage and Debt Trap :) Debt Trap is like a Chakravyuh, Its easy to enter but impossible to get out like Abhimanyu. Improper Financial Planning is responsible for falling into debt trap. There are few tips on how to avoid Debt Trap. 1. Avoid too Many Loans: As a thumb rule, EMI of all loans availed should not exceed 45% of take Home Salary / Net Income per month. If it exceeds this limit then we are inviting trouble for ourselves. If majority of loan portfolio comprises of unsecured loans like Car Loan, Personal Loan etc then it shows credit Hungary behavior ... Read More