The Finwise Couple series – In celebration of International Women’s Day – 4

The Finwise Couple series – In celebration of International Women’s Day – 4

For our next couple, equality doesn’t come with having to contribute to the monthly budget. They know one another since being college-mates and after nearly 2 decades of being married, can both complete each other’s sentences as well as together enjoy the silences in between.

 

Rajesh Kodoth is Regional Business Head at Ola Cabs and Swetha Rajesh, manages their wonderful home, having decided to leave her career early to devote her time to family. Over the last few years, they had built an assorted but real estate heavy portfolio and decided that it was time to seek professional help to future-proof their investments.

 

On the trigger to seek professional advice, Rajesh says “While we have been investing it wasn’t necessarily based on what was required to cover long-term financial needs. Also, our asset allocation was not balanced. Finwise helped me create investment plans to maximise returns on the current investments and plan the future.

 

On being asked about Swetha’s involvement in their financial well-being journey, he had this to say “Swetha is an integral part of our expense planning and in the journey to financial well-being. Her involvement helps make right decisions, gives an alternate perspective and overall comfort of a partnership.”

 

Being involved in a financial well-being journey together does not necessarily require both the spouses to be equal contributors financially. What it does require is the mindset that the other person can bring something to the table, and from our experiences, we can surely tell you that in such cases, one plus one turns out to equal much more than two!

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families plan for their financial goals, follow their passions and achieve financial independence.

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The Finwise Couple series – In celebration of International Women’s Day – 3

The Finwise Couple series – In celebration of International Women’s Day – 3

Our third couple are equals in every sense. Amish & Trupti Jasapara are doctors and both are in corporate practice. Amish is Senior Consultant at Fortis Hospitals and Trupti is Senior Consultant at SR Mehta & Sir KP Cardiac Institute. And in their personal lives, both take turns – whether it is in managing the various expenses of their family or in funding for their goals of the future.

 

As Amish says, “As doctors who face the same challenges every day, there was no way we could have been anything but equals. Trupti has single-handedly managed the family and has taken decisions without hesitation, when I took a sabbatical to study in Germany. She is a prudent investor and her involvement has meant that we have not added unnecessarily to our lifestyle and have saved before we spent. We both ensure we are on the same page before we embark upon any new investment/expenditure.”

 

On being asked about when they discovered the need for professional advice, Trupti had this to say “As doctors, if there is one thing which is in short supply, it has got be time. Lack of proper knowledge of investments, some losses incurred and shortage of time directed us towards getting professional help for our investments. Finwise through their systematic analysis helped us understand that healthy financial goals are a reality.

 

Their being professionals themselves, they didn’t have to hesitate when it came to seeking professionals when planning for their future goals, including their retirement. Having done that, they are now able to spare valuable time on other aspects of their personal life – scaling further heights in their professional careers and enjoying the small pleasures in their present, without having to feel guilty about it.

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families plan for their financial goals, follow their passions and achieve financial independence.

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For advice, please reach us at getfinwise@finwise.in or +91 9870702277/9820818007.

The Finwise Couple series – In celebration of International Women’s Day – 2

The Finwise Couple series – In celebration of International Women’s Day – 2

While in many households, it is common to see that the responsibility of managing investments falls upon one, having a spouse who is also interested in the nuances of money need not be threatening at all to the person managing it. If anything, it helps by having a bouncing board, and allows you to get another perspective. A person who knows you and is equally responsible in the money management process helps ensure that individual biases if any get identified, since the risk-tolerances of both is not likely to be the same.

 

The couple we talk about today is one such. They are Pramod Marar & Suvena Bansal, both of whom work in the banking & financial services sector. Pramod is COO – Commercial Banking at HSBC India and Suvena is Head – Risk Policy at Aditya Birla Finance Limited.

 

Both Pramod & Suvena have been judicious about the need to put money away, and have been active savers and investors right from the beginning. So how did Pramod & Suvena decide that they needed help in reviewing their finances? In their words, “We felt the need to consult with professionals, when we reshuffled our real estate portfolio and realized we needed a better asset mix for our mid-term goals. Time was running out, there wasn’t enough time to plan, research and execute. We also needed someone whom we could trust and yet they weren’t too close, as financial matters can strain relationships.

 

On both being involved in the decision making on their family’s finances, they say, “Both of us from the beginning have had a say in all the investment decisions we have made. It has been a together thing always, we just don’t know to do it any other way.”

 

Their comfort with managing money together has helped Pramod & Suvena over the years jointly formulate a plan that will help them meet their financial goals for their family and achieve financial security. And being financially secure, is helping them focus more on the other things in life. In their words “Parents are getting older so we like to spend as much time as we can with them. Kids are in the teenage phase and require a new orientation, something we are working on. Work as new responsibilities so overall, a plate that is overflowing full.”

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families plan for their financial goals, follow their passions and achieve financial independence.

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For advice, please reach us at getfinwise@finwise.in or +91 9870702277/9820818007.

The Finwise Couple series – In celebration of International Women’s Day – 1

Last year, for International Women’s Day, we shared stories of some successful women, who over the last few years, started their journey with Finwise and took charge of their financial lives to make it more secure for themselves and their families.

 

This year, we share journeys of some such couples over the next few days, and hope they inspire you to take similar actions to free your and families’ financial futures.

 

Our first couple is Dr. Ashok Dabir & Dr. Neela Dabir. Ashok is a successful and leading oral and maxillofacial surgeon in Mumbai, and Neela is professor at TISS, and Dean of their Institute of Vocational Education.

 

On the role of Neela in the family’s financial journey, Ashok says, “We have always had a relationship of equals. I was one of the earliest people to recognise that I had married someone who was meticulous in her work and could envisage and implement things effortlessly. I am not very involved with the finances as I can see Neela has the passion and an eye for numbers, she enjoys doing a deep dive to understand the nuances of the products. That has been a huge blessing since it gives each of us the space to pursue what we enjoy, while having the peace of mind that the better half is doing a great job with things, we don’t particularly like doing.”

 

About getting on the path of financial well-being, he surmises, “We had been investing over the years. But it was with various people who were selling products to us. None of them tried to look at us holistically. While each of them was able to enumerate the benefits individually, we were looking for somebody to bring it all together and give us an unbiased view as our representative and not trying to sell us a product. Our association with Finwise started way back in 2015 in a small way, it has grown to encompass all our investments and we have a sounding board for our ideas as well as someone to disagree with us when it is called for.”

 

Their children are now grown up and building their own lives, and in this phase, always being financially prudent has helped Ashok & Neela fulfil their passions – they travel the world together regularly, visiting new places, every few months.

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families plan for their financial goals, follow their passions and achieve financial independence.

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For advice, please reach us at getfinwise@finwise.in or +91 9870702277/9820818007.

Celebrating the Men too, this International Women’s Day!

Celebrating the Men too, this International Women’s Day!

Its International Women’s Day on March 8th, 2020, and we can think of no better time during the year to reach out to you, to share a few inspiring success stories of people who are on the path to financial independence and well-being.

 

 

Last year, we shared stories of some successful women, who over the last few years, started their journey with Finwise and took charge of their financial lives to make it more secure for themselves and their families.

 

 

Conventionally, one would argue as to why we need a specific day in the year to celebrate Women? We should be doing that through the year, and we agree fully with the sentiment. Our monthly columns (published on Moneycontrol.com) on women and how they can handle money problems and achieve financial independence, is testimony to that fact.

 

 

We would instead like to respectfully submit that International Women’s Day need not only be about women individually. Women today are equal partners in life, whether at work or at home, and while they have fought to achieve this status, they have also been supported by a growing tribe of the opposite sex, who have actually lent credence to the theory that the “better half” is actually as good, if not better at managing money.

 

 

Over the last few years, we have come across many such success stories. While one kind is where both spouses are actively involved in planning and securing their financial future together (with, in some cases, the woman actually taking the lead), we also have the other, where the man, despite possibly being the sole or dominant earning member, consciously and actively involves his spouse in the financial decisions of the house, thereby, both literally and figuratively, “putting money where the mouth is”.

 

 

In our experience, it is this “absence of bias” in the relationship between spouses and respect for each other as equal partners, that is one of the true building blocks of well-planned and long-lasting financial and general well-being for the family.

 

 

This year, for International Women’s Day, we share journeys of some such couples over the next few days, and hope they inspire you to take similar actions to free your and families’ financial futures. Look out for the first journey tomorrow.

 

 

Finwise is a personal finance solutions firm that helps both NRI and resident individuals and families plan for their financial goals, follow their passions and achieve financial independence.

To receive our articles through email, pl subscribe here.

For advice, please reach us at getfinwise@finwise.in or +91 9870702277/9820818007.