Buying insurance for protection and wealth creation has always been a very complicated task involving careful analyzes. The analysis involves the amount of coverage, reason for coverage and the term/time that the cover is required. Term policies taken for a specified period of time like 5, 10, 15, 20, or even 30 years helps to look after family’s financial commitments like education and marriage of our children and the day to day expenses for a reasonable standard of living. Term insurance policies that resemble motor/house insurance are not subject to the law of indemnity as damage due to human life cannot be measured. Taken for a specified period when financial obligations have to be met, no money is generally paid back if death does not occur in the period. A...
Let’s start the useful exercise: Financial planning may mean different things for different people. Some assume that they need no financial planning as they have very little finances. Still others believe that once they have invested their savings for future their task is over. In addition some pre-conceived notions that company we work for, pays our medical and hospitalization expenses so we need no reserve, combined with the notion that a life insurance policy takes care of death, disability and accidents. The need for no financial planning is complemented with the myth especially among the young that their retirement is far away and they could easily plan for it just a few years in advance. To further complement this myth that our ancestors would leave behind estate and...
Just start the financial check-up: Noel Whittaker said, “Life is full of uncertainties. Future investment earnings and interest and inflation rates are not known to anybody. However, I can guarantee you one thing.. those who put an investment program in place will have a lot more money when they come to retire than those who never get around to it”. This meaningful quotation made me realize that we need to make regular financial check-ups to ensure that we have enough to meet our financial goals in life. Planning for financial goals require taking into consideration the present rates of earnings on investments, future earnings and rate of inflation that would affect our lifestyle and financial goals. It is vital that we all realize that regular reviewing our finances...
Stories of financial infidelity: Mahesh, a successful upcoming software engineer’s life was in a real mess; it is good he realized it at least now. He had come to meet me for financial advice and plan. He started doing online trade after learning that his colleagues were making a lot of money. But he had lost heavily due to his ill-luck, inexperience and lack of knowledge. He indulged in tactics of taking loan from one to repay the other and taking loans from another to repay the earlier loan. Mahesh was in debt to the extent of 20 lacs, and his creditors were pressurizing him to pay back loans given. So far he has not disclosed all these things to his young loving wife, Lekha. Mahesh believed that Lekha was no good at finances and was just home bound. He also believed that he...
I have been facing lot of issues with so many hookup wires running between the breadboard and the controller board. A small shake at times dislodges the cables and things stop to work. This inspired me to make hookup cables which do not get dislodged with small shakes and movements. This is what it looks like This is a nice rugged setup when a lot of cables need to run between the arduino and the...
With Apple launching its iPad it has become clear that ereading is going to be a serious business in coming years. To me iPad currently is nothing more than a GIANT iPhone which Apple would use to sell Books on the same lines as that of iPod, remember the iTunes store? iPad has a...
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