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It is a mistaken belief that if you are earning an income, you are financially empowered. A working woman may be financially independent but if her money decisions are being made by her spouse, parents or in-laws, she cannot be considered as financially empowered. The belief that they do not understand anything about finances but that their spouses do, leads many women to blindly accept all money decisions taken on their behalf. These women need to understand that finally they are responsible for their money and if the person on whom they are so completely dependent passes away or does […]

At the beginning of New Year 2013, we shared with you our thoughts not only relating to finance but in general as well, in the form of a Mind Map on a Life Worth Living. As the new financial year starts, here we once again share a few tips in making our clients financial lives easier. Financial Year 2013-14 Resolutions: I will collect my statements relating to Income generated in 2012-13 in April 2013 itself:I will submit all the above information to my Tax consultant in the month of April 2013 itself. Form 16, Capital gains statements, Rent receipts etc […]

DIYers Mr. Patel has been dabbling in stocks for the last 25 years. He also sporadically invests in Mutual Funds. His TV is constantly on and he surfs all the business channels. He is known amongst his group of friends as the stock market guy and many times they also seek his advice on stocks. He boasts a lot about the profits he makes on day trading and occasionally on his investments. Curiously, he is most active when markets are bullish and becomes very low key when the sentiment is bad. It appears like he is investing when markets are […]

Parents want their kids to have all the best things in the world and they think if they can afford it, why not? In fact, many parents are tempted to give money to their children out of guilt. The guilt of not spending enough time with kids is compensated with money. Eventually, kids get adapted to a spendthrift lifestyle and sometimes resort to emotional blackmail if their demands are not met. Not to mention, the peer pressure building up on kids makes them a bit insensitive to the value of the hard earned money of their parents. Our present educational […]

Financial planning is a process which goes beyond numbers. In the preparation of a financial plan, we ask a lot of qualitative questions to clients, which go beyond investments, insurance, tax & retirement. For instance, one common query we have for clients is whether they have prepared a will. We ask clients about the nomination status for their immovable property, bank accounts, bank lockers, demat accounts, investments, provident fund, etc. Additionally, information about the location of their important documents including medical policies is asked and whether these are known to family members. As a part of the financial planning process, […]