Archive for September 4, 2006

A rejig to keep Ram running

Publication: DNA Mumbai;   Date: Sep 25, 2006;    Section: Personal Finance;   Page: 24
 

People have time to plan their vacations, birthday parties, picnics, but seem to have very little time to plan their finances. Weekends are even busier, and I see some business owners and executives on the phone during weekend dinners, as well. Whatever be the case, most of us lead such busy lives these days that we do not seem to have time for the most important thing in our lives.
Besides work, there is so much to do in life, such as spending time with family, socialising, vacationing and participating in spiritual activities so you are left with hardly any time to plan your finances. Then, there are some, who are continuously glued to news channel tracking each market movement, read all investment journals, seek advice from several brokers and have premier relationships with banks and brokerage houses. » Read more..

How is financial planning different?

Publication: DNA, Mumbai;   Date: September 4, 2006;    Section: Financial Planning;   Page: 24

A planner understands the client, his objectives and risk tolerance before giving an appropriate advice

“I have given Rs 25 lakh to XYZ Securities to manage and they said they are doing financial planning for me”.
“I have started SIPs (strategic investment plans) and I dont need financial planning”.
These are some of the common responses that I have come across during my conversations with many executives, business owners, self-employed professionals and families.
The term financial planning seems to have created a lot of confusion. This is largely due to ignorance in general and the fact that some institutions use the term loosely.
Ajay Singh is a top-rung executive with a multinational company and draws a » Read more..