| Topic : Financial Goals $$... |
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Marketing & Branding |
BattleGround for Sales Professionals |
Investment Hub |
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Activity:
73 views;
last activity : 10 27 2010 15:37:33 +0000
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Proper Financial Planning
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Get appropriate insurance
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have a portfolio according to ur present income & future need
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most imp
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Use all at your disposal
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Friends financial safety depends on various factors because the conditions may vary from person to person. let we discuss about after death financial safety for family:- 1) Business person- There maybe two conditions if family member able to handle the business in absence of same then there will be no extra need to make huge insurance although insurance is always a part of investment portfolio. We can give more preference to Accidental or health insurance as well as liquid assets in the particular case. 2) Professional/Employee- If the person is doing job or his professional practice then insurance is more helpful. Because they have not any immediate way to get job or make professional study to overcome the situation. Health insurance, life insurance as well as accidental insurance as well as long term investment will required for financial planning or safety in case. And If we are talking about financial safety with life then we have to make a diversified portfolio which include short term and long term investment financial gadgets i.e. Equity, MF, Real Estate, Insurance(as per need), Currency, Metals(Gold etc)......... |
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Financial planning helps looking at variety of risk one would come across in entire life....
E.g....
Job loss
Accidents and death,
Business loss,
Professional legitigation......
Many of these risks could be mitigate or managed by knowing one's own networth or needs to be outsourced to third party....
Building Emergency fund would prevent certainly temporary financial problems..Insurance coverage would reduce financial risk of bread winner,,,
Professional idementy insurance would reduce professional risk
Rashmi Chawala, Vipin Bhasin : this is ur field : we observe what U suggest. Such questions appear every now and then on TooStep. Wo/men in this field might watch how "Financial Planning" is taking its route in Indian population .. !
Yes .. planning is required in advance. Say for my 'life-time' or 'after-me'. Equally we are to look-after our present day requirements. A balance is required. Thanks U ppl.
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That means health and life insurance, perhaps even loss of income insurance if your job doesn't provide it. If you have to buy these on your own, shop around and don't let the first sales person you talk with convince you to make a hasty decision. |
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hi rashmi
yet insurance and finance have put on a common place to lead a save life whether to think for an investment or for life insured.
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as keeping all egg in one basket is harmful same believing that only one income source full fill all ur need again harmful. have a portfolio in which ask ques. to ur self and design it acccording to ur need of money in next 5, 10, 20, 20+ years and the invest in different instrument.
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Insurance is most important part of our life which help our family in case of any mishappening but do insurance smartly. Instead of insurance we need investment guidence from where we can get better return to meet our financial goals. So one should must do investment in shares with long term horizon. |
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well i believe in getting insured to be safe and also people should have better knowledge and guidance for the investment. investing without knowledge is the greatest risk.
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Juggling credit b/w the cards to avail the most of credit period without incurring interest cost & receiving interest on your existing fund. Switch b/w deposits, equities, bonds as per liquidity/risk appetite. Most important invest in Insurance, PPF, Mutual Funds, at least 20% of your income.
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