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Showing posts from January, 2016

Are you Retirement Ready?

Each of us wants to live our old age without any tension, doing things we never did, because we are bound by our commitments. Commitment to take care of our parents, Commitment to provide good care and education to our kids, commitment towards work, and the list goes on. And while fulfilling all these commitments most of the times we undermine the commitment towards our own self. Let me ask a fair question? How many of us do really think of Retirement? And, even if we do think of Retirement, how many of us are preparing for it? Everybody knows due to better lifestyle, life expectancy is increasing. Let’s say if we work from our age 25 till 60 i.e. 35 years of work, we also need to prepare ourselves for another 25 years of no work (assuming life expectancy of 85). So, are we preparing for this Retirement of ours? If not, we better start now otherwise we will have to work post 60 to provide for ourselves. On the counter argument, some of us might like to work beyond 60 also. That’s a …

O Mom! Don’t be a snob, it’s just 2k

“O Mom! Don’t be a snob, it is just 2000 bucks. If you don’t want to give, I will ask Dad. But, please for heaven’s sake, I don’t want another lecture” was my Elder Sister’s 16 year old daughter’s reaction when her mother asked why she needs these 2000 rs. Embarrassed by her daughter’s behavior, my sister told me in a sad voice, kids these days don’t understand the value of money. I remember the way our parents brought us up, we used to get a fixed pocket money and for every penny extra, my mother used to ask why do I need that. And, we had to give her full details. Our parents taught us the value of savings and how difficult it is to earn. The result is – that we have grown up as independent individuals who respect money and understand its worth. Now, the question arises, where we went wrong in passing on the same values to our kids, because they surely don’t have them. If we dig deeper we can find those answers among st ourselves only. 1.We wish to give the best to our children. Thi…

2016: Clean up your Insurance Closet!

2016: Clean up your Insurance Closet!
This year let’s pledge to clean our Insurance closet which we always keep pending for another time. Have you ever counted how many insurance policies you have – Endowment Plans, Money Back Plans, ULIP’s Home Insurance, and Child Plans, the list keeps increasing so on and so forth. We buy insurance policies on so many occasions.

Like this, many a times you will be forced to buy plans without knowing their true purpose. This New Year we should make an effort to take out all these policy documents from our closet and take a look at them. You should keep the ones which you really need and surrender the ones which are not required. How would you know if the policies taken by you are good or not? There are few thumb rules which you should follow. 1.Are your policies and their maturity payouts countering inflation? Many a times we take policy just to pacify someone we know and the premium we agree upon is too low, and the maturity amount is really small.…