Financial Planning

Mistakes Customer Make – as per Financial Advisors survey

financial mistakes
  1. Mixing Insurance, Tax plan & Investments
  2. Being Under insured
  3. Excessive or expensive Loans
  4. Excessive property & physical investments
  5. Lure of IPO’s
  6. No estate planning

Recently I found this survey in one of the leading newspapers (Mint), where financial advisors were asked to list down investment mistakes, they found with their customers. I thought of writing, not on these mistakes, but on specific asset class and how one should look at.

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Do It Yourself (DIY) accounts – a success or a myth?

Do it Yourself

Do it yourself (DIY) is the method of building, modifying, or repairing things, without the direct aid of experts or professionals. (as per Wikipedia)

Well, it’s the latest buzzword in town, where everyone wants to use services on their own. And as a matter of fact, service providers are offering accounts & services, with DIY embedded in that.

But how far is this true or successful?

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My Dream & What I Do

dreams

Well, it’s not my story, but “OUR” story, as I am no different than any one of you, with regards to how we all think or “DREAM” & how we act.

In this blog, I want to highlight interesting insights, on what most of us dream about, when we save our hard-earned money, and finally what we end up doing or our decisions on same. We conducted a small survey and asked basic questions on savings & purpose.

On Savings, it’s interesting, as well as surprising to know that, young one’s (below 30) are thinking on higher savings compared to seniors. Wow!

And, in terms of Purpose, brands which play important role in our daily life, comes later, compared to future savings like retirement & kid’s education. Excellent!

We score 100 out of 100, on our Dreams.

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Financial Planning Report – too complicated!

report

We are living in a world where “complicated” sounds great than “simplicity”. As “complicated” contains big data, fancy graphs, unheard terms & jargons, multiple pages and finally a confused look on our face. What do I do now? On the other hand, when we have “simplicity”, usual remark… I can do it myself. 😉

I am referring to a customer’s “Financial Planning Report” or a “Wealth Management Report”.

Whether you have seen one or someone trying to show you one (sell)… believe me, it’s like reading a multi-page research report and finally you asking this question again, what do I do now?

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Women’s day – Let’s Stop “Girls Can’t Do” Stories

happy-international-womens-day

International Women’s Day (IWD), originally called International Working Women’s Day, is celebrated on March 8 every year. In different region’s the focus of the celebrations ranges from general celebration of respect, appreciation and love towards women for their economic, political and social achievements. (as per Wikipedia)

Benetton, known for its wacky campaigns, has come out with a thought provoking campaign again, why ask or cry for equality with men, just go and grab it yourself lady. Similar stories are now emerging on age old fairy tales, where princess is waiting for a prince for upliftment or change, and our little girl is asking, why she has to wait? & why she cannot do it on its own?

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Client Priorities – Client First

Customer priorities

In a recent study by Investor’s Research Inc., clients were asked what their priorities were with their financial advisor***. Here were their top six priorities:

1. Understand my situation
2. Educate me
3. Respect my assets (no matter how small)
4. Solve my problem – don’t sell me product
5. Monitor my progress
6. Keep in touch

*** From the book, Story selling for financial advisors, by Scott West & Mitch Anthony

Very simple & heartfelt.
I guess, most of us fall in the same line.

It’s no surprise and a great honour for us at www.moneyfrog.in today. Why?
As we have designed & built our platform, process & advisory based on above philosophy.

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2017 – I Wish

i-wish

Finally, we have made it… with Modi’s demonetisation and Trump’s victory, last quarter had been the most shocking, surprising or rather adventurous for an average Indian, as well as for entire globe.

Like any start of new year, we have high hopes, we write resolutions, promises & look forward to a great year. I don’t want to spoil the party by being negative or projecting some fancy numbers, growth etc. Also, I don’t want to be an analyst today.

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Demonetisation effect

demonetisation-effect

With demonetisation almost nearing its completion & 80% of the old notes back with the banks, most of us are questioning, what next?

Well, to start with, we are moving in the phase where quite a lot of individuals & families have either declared or will start operating with white money now. In short, we have more people having white money in hand going forward, which will soon start demanding white investments.

Real estate & gold, which used to be the main source for black-money, now will (more…)

Child education – How much will college cost in future?

child-education

To send our child to the best of the colleges, is always top of our wish list. A good college education can open door to many opportunities. But college degree doesn’t come cheap and if we don’t start planning it right now, we will have a sorry face, when our child is ready to go. Therefore, the best thing to do is to start saving early.

How much will it cost?

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Black or White – what do I do?

black-money-tax-scan

Our dear Prime Minister is known for surprise, and the biggest was on 8th evening, when he announced to demonetize INR 500 & 1000 currency notes. It’s a known fact, that in India we have a parallel economy running on black money, also known as shadow economy. Whatever measures & schemes offered by government, still they were not able to control or stop the flow of black money. Finally, the masterstroke!!!

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