Financial Planner can make or break your financial fortunes. A good Financial Planner is a lifeline for wealth creation. Unfortunately in the Indian context, USP of a Financial Planner is more of convenience factor rather financial planning. Recently, when i checked with one of my client Mr. Paresh from Mumbai, the services provided by his Financial Planner. He told me that financial products including mutual fund schemes are decided by his Financial Planner. He calls his Financial Planner whenever he would like to invest. The pickup boy collects the application form and cheque from him. He ... Read More
Should i Invest or Prepay Loan?
Should i Invest or Prepay Loan? is the classic dilemma faced by the borrowers. This catch 22 situation arises when a borrower receives a lump sum amount. The most common sources are an annual bonus, the maturity of deposits, a gift from parents/relatives or inheritance. Normally i don't suggest to prepay loan especially Home Loan from any amount received through inheritance or gifts from parents / relatives. The only exception is if you have signed proper gift deed or family settlement agreement to safeguard your financial interests. If you prepay loan from gifted/inherited money then it may ... Read More
How to identify best Trading Stocks?
To identify good Trading Stocks is one of the Hot Topics in Stock Market. Trading stocks are bought from short-term investment perspective or day trading. Let me clarify that i am not into day trading, but i do buy trading stocks with a horizon of up to 1 month. The objective to buy trading stocks is to make some quick money by identifying the upward trend or momentum in some stocks. Trading stocks may or may not perform well in the long run for investment purpose. Most of the times, the reasons for upward movements are not known. Traders can check the cues available in the market. The ... Read More
The Rule of 72 – Avoid Being Cheated
"The Rule of 72" is the most powerful rule for "Quick Calculations on Investment and Inflation" in your mind. Personal Finance space is quite confusing for the common man. This is the main reason why mis-selling is rampant in the personal finance space. Besides, mis-selling there is a widespread misinformation to score brownie points for personal gains. Most recent example is on "Returns from Sukanya Samriddhi Account". Some financial planners are misleading the common man by throwing some arbitrary no's on returns from Sukanya Samriddhi Account. These calculations are based on certain ... Read More
7 Financial Mistakes You Should AVOID
Everyone is bound to make financial mistakes because of complex personal finance world. Even i also learnt from my financial mistakes after paying price for the same. Financial wisdom says that "Listen to your mind". Most importantly "Heart should not overtake mind while making financial decisions". In my opinion, the biggest problem in our country which in turn is sole reason for committing financial mistakes is "FREE ADVICE". Its a fact that anyone giving FREE FINANCIAL ADVICE will have vested interest in mind. Be it insurance, stock or financial investment. Assuming i ask a bank employee ... Read More
Dream Home Vs Gold – Productive Vs Non Productive asset
Indians are basically mad about or fond of following Four 1. Increasing Population (India’s population is proof of same) 2. Cricket 3. Movies 4. Last but not the least the craze for Gold (Simply check out qty of gold with few of ur frnds/relatives) Gold and Property are 2 most preferred investments mode for Indians with Gold being at No. 1 position…Most of the times, people are confused between Dream Home Vs Gold…Recently one of my friend asked same question to me which put me in confusion then after lot of research and analysis my conclusion is, though Gold act as potent tool/hedge ... Read More
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