Background Legacy is often understood as leaving behind a property or tangible assets to be inherited by successors. And Financial Will is the instrument of such legal succession. This, no doubt, ensures easy and smooth transition of one’s tangible property, both movable as well as immovable. This also translates the transition of property of the deceased in terms of his / her intent and prevents any possible chaos/confusion after death. However, the said process only takes care of financial assets. While financial estates are important, the other aspects, possibly more important ones, are often forgotten. This includes the intangible legacy of an individual. Every person is the repository […]

“Women should be financially independent. It doesn’t matter who your father is, doesn’t matter who your brother is, doesn’t matter who the man in your life is, you need to be responsible for your finances and be financially independent “Priyanka Chopra” The role of women in society is changing. The number of educated girls is increasing and they are coming out with flying colours in every sphere of life. They are now career-oriented and are being commissioned into Defence & even Flying Combat Aircraft which were once upon a time dominated by males. Indian born Dr Swati Mohan recently led […]

The year gone by is unforgettable. We have survived the challenges, thrived and adapted. We learnt how to handle our health better; exercises, meditation and enough sleep. This has helped us to discover our body, mind and emotions. We learnt the limitations of the false ego originating from wealth, position and power. There was enough time to introspect and learn crucial life lessons. How many would have befriended pains and challenges voluntarily? It was a big opportunity in disguise. It taught us big lessons on patience and empathy. We learnt to respect and gratitude. We have emerged more mature and […]

Parents in India believe in providing full financial support for children’s higher education. The moot point is; Would you pay for your child’s higher education abroad, even if it means dipping into your retirement kitty? For many, it is an investment into their child’s future, and by extension their own. There is a difference in the way many parents look at it and the right way to look at it. We have seen parents struggling to honour the EMIs even after retirement by resorting to Debt. They believe “that is what a good parent would do”. Parents also believe to […]

Secured way to safe keep and share e-Documents Digital Locker, one of the key initiatives under the Digital India initiative, is aimed at eliminating the usage of physical documents (Pan Card, Driving Licence, Birth certificate, Marksheets, Income Tax return etc),  and enable sharing of e-documents across government agencies via a mechanism to verify “authenticity” of the documents online. Residents can also upload their own electronic documents and digitally sign them using the e-sign facility. These digitally signed documents can be shared with Government organizations or other entities. Citizens with Aadhaar number can create Digital Locker accountsKindly ensure that your current […]

IRDA has recently come up with some major changes in health insurance effective from 1st October 2020 and issued guidelines to reduce confusion and facilitate ease of understanding for the customers. 1. Exclusions: Standard Definitions There are various exclusions in a health insurance policy and wordings for them differ from policy to policy. This confuses the policyholders. IRDA has standardized the definitions and wordings for many types of exclusions. Now all policies will have the same wordings and code for exclusions which will eliminate grey areas. 2. No ambiguous wordings in Policy  IRDA has also said that there should not […]

COVID19 originated in the Wuhan province of China and has spread over 200 countries in the World. It is a health-related problem but has impacted the economic life of nations. There are job losses, salary cuts, and increase in unemployment. It has impacted the personal finance of individuals and the financial planning of the families. The income of the families have been impacted. On the expenses side, some expenses like traveling, eating out, commuting to office have reduced. Children are attending online classes from home. Medical facilities are found wanting and inadequate. The instances of overcharging by hospitals galore. The […]

Nassim Nicholas Taleb brought the concept of Black Swan events. In statistics, it is interpreted as a 1% chance event which is beyond the mean and three standard deviations. In actuarial science, this is called extreme events. The history of mankind has been shaped by Black swan events. Coronavirus originated in Wuhan province of China and in a matter of three months has brought the entire world into crises; medical systems, economy, the daily life of citizens. Currently, it is total uncertainty about the future across 199 nations of the world. But there is a positive side to it also. […]

There are many battles that women fight every day. While many remain to be won, some are conquered with such confidence that it inspires others to step up and follow suit. Mamata, aged 45, who works as a maid in corporate offices. Her accounts were handled by her husband. After the divorce, she was left with no assets, but the responsibility of supporting three children. Her daughter got married at the early age of 20, and unfortunately, she is also a divorcee and had two daughters. Now Mamata’s responsibility gets multiplied with her children and grandchildren. Mamata’s work begins from […]

World Cup Football study reveals the Goalkeeper moved to either left or right side 94% of the time and stood in the centre only 6% of the time whereas the strikers have netted the ball straight 30% of the time. Most goalkeepers dive to the sides. Just standing there is viewed as being stupid and embarrassing. I suspect most of us have a bias toward action, especially  we think we’ll look stupid if we standstill. The best-behaved investors understand that it’s in their best interest to do nothing most of the time, even though everyone else around them may be […]