I advise investors of all age groups. Many middle-aged investors are concerned about whether they are too late in starting investments. Even though it is better to start early, it is never too late. They will just need to make up for the missed period by investing more. Not as easy as it sounds. They can, of course, make up by targeting higher returns but that’s … [Read more...] about The Choice between Starting Early and Investing more
financial planning tips
There are limits to human memory and attention and it is not difficult to miss basic steps in a task. Therefore, a checklist can be extremely useful. A checklist breaks down a complex task into a series of steps. You can follow the steps as mentioned in the checklist (READ-DO checklist) or you can confirm that the steps mentioned in the checklist have been followed … [Read more...] about The Financial Checklist
Most people don’t start saving from the day they start earning. Even for those who save, money lies idle in savings account. It is only 3-5 years into professional lives that we get serious about investing. In one of my previous posts, I had discussed financial planning tips for the new financial year. These ideas would have been better appreciated by our readers who have been … [Read more...] about 12 Personal Finance tips for young professionals
Dual Income No Kids (or DINK) families are likely to have higher disposable incomes. Not a bad situation to find yourself in. If yours is also a DINK family, you are likely to be in a comfortable financial position, at least as of now. Does that mean you can afford to go slow on your investments? Does that mean you do not need any kind of financial planning? Financial … [Read more...] about Financial Planning Tips for DINK Families
Being self-employed gives you much flexibility. You can choose to work on what you are passionate about. You don’t have to deal with a difficult boss. In many cases, you can even choose your working hours. Sounds rosy? Well, there are many drawbacks too. There is no salary at the end of the month. The cash flows can be erratic. There is no mandatory EPF deduction. An illness … [Read more...] about Financial Planning Tips for Self-Employed
About the time of the year when you will receive your annual performance bonuses and salary hikes. I do not expect everyone to be happy with the outcome of the appraisal cycle. However, it cannot be denied you will have some excess cash in the form of bonus at the end of April or May. How do you plan to use this bonus amount? Do you plan to purchase the latest iPhone or a … [Read more...] about How to use your Annual Bonus effectively?