Diversification Financial Planner: A diversified portfolio lowers your risk. Reaction should be: Diversification won’t always save you – and you need more of it than you think. Your financial planner has to understand diversification across asset classes, geographies, business houses, industries, time horizons, etc. Not all financial planners are equipped to evaluate and advice on […]
If you have a financial planner with a ‘product sale’ mentality – especially who has sold loan products also in the past, there is a good chance that he would suggest leverage. Leverage means borrowing. So read on… Financial planner: Borrowing sensibly is a good way to build wealth. Do a disciplined borrowing and you […]
There is one person who is rarely quoted in Financial Circles. He is George Bernard Shaw. He said “Whenever I go to my tailor, he measures me up”. I wish all of us would do it! Once we decide on a particular thing we do not let new facts change our minds. We carry prejudices […]
Retirement Financial Planner: Retiring early is a great thing to aim for. Client reaction: Retiring early is a problem. Retiring at 52 will mean 45 years at home. This for my wife will mean more husband and less income! I have no hobbies, what do I do? Americans at least need to develop some hobbies […]
Suzie Orman says: Keep enough money in ultra safe accounts to cover life’s emergencies, – say 8 months expenses – but no more. Financial planners talk only of an income emergency. They do not talk about an asset emergency. When your assets crash and you are reluctant to sell at the current prices it is […]
this appeared in reuters.in in their personal finance section in my byline.. Once in a while a man comes along and takes people for a ride. What is amazing about Madoff’s scheme (how funny that he should call it a Ponzi scheme!) Ponzi scheme was actually much smaller. I think it should now be called […]
Doctors can create wealth. A lot of wealth. However, it may or may not happen from their earnings alone. It can happen only with good wealth management techniques. Ha, the word wealth may mean different things to different people. When we talk of wealth we mean an amount of money which will let doctors do […]