Dear woman, don’t be risk-averse in choosing your investments

Dear woman, don’t be risk-averse in choosing your investments

Last week, I did a financial well-being session at a well-known corporate, the participants being predominantly women in their 30s. While they were all keen on taking charge of their finances and made for an attentive audience, most of them were extremely risk-averse.

 

This was startling, since women, usually, are not in a hurry. They are very patient, and once they understand the way a product is built and have realistic expectations of the short-term as well as long-term performance, they wait out the turbulent times patiently and truly stay put for the long term.

 

Given this fact, it was surprising to see that most of the women mentioned earlier were shying away from equity since they perceived the volatility in the short term as risk. There are several compelling reasons for women to take more interest and understand the best options available to them when it comes to investing. Here are three big ones.

 

Read our latest article, published on Moneycontrol.

 

https://www.moneycontrol.com/news/business/personal-finance/dear-woman-dont-be-risk-averse-in-choosing-your-investments-4981251.html

 

Image credit: Moneycontrol

 

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.

Why discussing finances is mutually beneficial for spouses

Why discussing finances is mutually beneficial for spouses

I always wonder why it is so difficult to talk about money even with your spouse. You are comfortable talking about almost anything under the sun, but talking about money seem petty and crass. To my surprise some women refuse to do it even when they have a gun to their heads.

 

Why should you wait to be pushed against the wall to have a conversation? Marriages are meant to last a lifetime and it is impossible to traverse this journey without discussing money. At some point of time in a relationship one needs to move from Mine to Ours.

 

Read our latest article, published on Moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/money-matters-why-discussing-finances-is-mutually-beneficial-for-spouses-4877221.html

 

Image credit: Moneycontrol.com

 

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.

How women should plan for their parents’ financial and other needs

How women should plan for their parents’ financial and other needs

Somehow in our society, while it is an understood thing that a man needs to take care of his parents, it is not such a given for the woman. It is strange when you think of it, since equal share in property post demise of parents is accepted by all, while equal share in responsibilities not so easily so.

 

However, a woman has the same instinct as a man’s and would like to be there for her parents, financially or otherwise. So how can you plan for such debts, which in a way, can never be fully repaid?

 

Read our latest article, published on Moneycontrol.com

https://www.moneycontrol.com/news/business/personal-finance/how-women-should-plan-for-their-parents-financial-and-medical-needs-4579881.html

 

Image credit: Benjamin Elliott, Unsplash.com

 

Women must develop the right money mindset for a fruitful post-retirement life

Women must develop the right money mindset for a fruitful post-retirement life

When we are still working, we make so many plans of things to do once we retire. And as we get onto the home stretch in the last few years, the excitement begins to build, of course, with a few butterflies in the stomach as well. So many places to see, so many people to meet, so many suppressed aspirations to fulfil, all of course, while juggling one’s hard-earned wealth and believing that there is enough, not only for ourselves but also to bequeath.

 

But retirement is not always as rosy as you imagined it to be. The transition to retired life is sudden, and there is a vacuum of time, that has to be fruitfully filled. That vacant space has to be occupied with activities that need to be created, not only to feel gainfully employed, but also to feel good about oneself. The actual retirement, therefore starts with a whole lot of unexpected dilemmas and mental adjustments.

 

What are those scenarios that one must adapt and adjust to?

 

Read our latest article, recently published on Moneycontrol.com (link given below).

 

https://www.moneycontrol.com/news/business/personal-finance/women-must-develop-the-right-money-mindset-for-a-fruitful-post-retirement-life-4479141.html

 

In retirement, the role of money is to allow one to fulfil our bucket list of desires, while ensuring that there is enough to take care of our balance life-times, including exigencies. Nothing more, nothing less. Hence, as a retiree, use money to bring you happiness and add meaning to your life, while taking care that it is safely working for you as well. 

 

Image credit: Moneycontrol.com

 

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.

 

 

 

 

 

Empower the women who are also key contributors in your success through these 5 steps!

Empower the women who are also key contributors in your success through these 5 steps!

When Chuck Noll said “Every job is important, but no one is indispensable”, he certainly hadn’t kept the Indian working woman in mind! For us working women, one person who is indispensable and brings an immediate sigh of relief and a genuine smile to the face when she arrives, is the house-help. Our lives get complicated when she is on a long leave and turmoil in her life cascades to chaos in our planned hi-speed schedules, to overcome which needs a lot of “jugaad”.  Retaining her and ensuring that things are smooth-sailing is non-negotiable for us. Whatever the reason to do so, our latest article published in Moneycontrol.com (link shared below) gives you five simple ways to add a lot of value to the financial condition of these indispensable women, at literally no cost.

 

https://www.moneycontrol.com/news/business/personal-finance/five-steps-to-ensure-your-domestic-help-becomes-moneywise-4249451.html

More details on their eligible government schemes are easily available online and are also on our website www.finwise.in. Apart from government schemes they could also invest in Mutual funds which are available to everyone. However, given their tendencies to trust people unconditionally, it is important that they have access to advice which is genuine and do not take undue risks with their money. You could approach your financial planner to help with these. A word of caution though, when you recommend someone, the trust they have with you gets automatically transferred to the person you refer them to, hence be sure you send them to someone who will give appropriate and genuine advice. They would otherwise be better off with government schemes that have guarantees.

 

From our point of view, life might seem unimaginably difficult for this segment of people, making us wonder how they would be able to save, when making ends meet itself is a problem.  But believe me, they are resilient and are able to manage temporarily even when they suddenly lose one of their many jobs. Taking some of the above actions will help your own “CAT (Cook/Ayah/Top-help) Commandos” secure their financial futures, while they help you effortlessly manage your present.

 

Image credit: Moneycontrol

 

Finwise is a personal finance solutions firm that helps 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.

 

Dear Woman, write a Will to ensure your wealth doesn’t go to undeserving hands

Dear Woman, write a Will to ensure your wealth doesn’t go to undeserving hands

Having a will is a must for easy and fair distribution of your wealth as per your desires. After all, it would be a shame that a lifetime of effort towards wealth creation for your loved ones, to meet their aspirations and goals, gets derailed in case of an unfortunate death intestate.

 

Read more in the below link about how a will can help you protect your wealth, in our latest article, published in our monthly column on Moneycontrol.com.

 

https://www.moneycontrol.com/news/business/personal-finance/viewpoint-dear-woman-write-a-will-to-ensure-your-wealth-doesnt-go-to-undeserving-hands-4147641.html

 

Image credit: mastersenaiper, Pixabay.com




 

The Finwise Woman series – In celebration of International Women’s Day – 8

The Finwise Woman series – In celebration of International Women’s Day – 8

Our final Finwise Woman is Mrunali Majmudar Sathe, a successful corporate executive, someone who has worked at senior levels in the corporate world as well as has successfully run her own company. For her, money has always been a means to an end, towards achieving her ambitions and desires for her and her family.

Mrunali says,

“As a working woman I have always been financially independent, driving many of our financial decisions of key investments like house and big expenses as well. But as the kids grew up and I took a year off on sabbatical, it struck me that one day I may not be able to earn and the burden will fall on my husband alone or on our meagre savings.

Thats when I realised I needed a personal financial advisor. Enter, Prathiba. I have ever been so grateful that she came into my life. I can say that today my financial future is absolutely secure thanks to her meticulous planning and coaching. All I do is follow her. I can now even think of expensive college education for my kids which I had all but given up on.

In a city like Mumbai if both partners don’t think and act alike to influence their financial status, it is difficult to thrive. Thanks to Finwise, I am wiser and in charge of my and my family’s financial future.”

We hope you enjoyed reading the stories of how these women took charge of their financial lives and went about building financial security and independence as a bulwark for their futures. It is never too late to begin and we urge all women to begin their journey towards becoming “finwise” today!

#finwisewoman # financialindependence #womensday

Finwise is a personal finance solutions firm that helps successful women gain financial and emotional security by helping them plan for their financial goals and achieve financial independence. For consultations, please reach me at prathiba.girish@finwise.in or +91 9870702277.

The Finwise Woman series – In celebration of International Women’s Day – 7

The Finwise Woman series – In celebration of International Women’s Day – 7

Today’s Finwise Woman is someone who is surrounded by aromas, both at her job and when she is not (her passion is to see the world)! Anusha Iyer is Creative Fragrance Director and is based out of South Africa with her spouse.

She says

“It’s been about 20 years since I started working and I’ve been managing not just mine but also our household finances till date. My goals in life were to have my own house, be debt free and travel the world. Successfully managed to achieve the first two and the latter is work in progress. Having become a travel addict and with a long-term goal of maintaining our current lifestyle I realized it’s time for me to up the game.With Finwise am looking forward to a great partnership to help achieve my dreams!”

#finwisewoman #financialindependence #womensday

The Finwise Woman series – In celebration of International Women’s Day – 6

The Finwise Woman series – In celebration of International Women’s  Day – 6

Our next Finwise Woman is Mandira Chowdhury, a retired Govt. employee who takes pride in being in charge of her own financial affairs, while pursuing her joys – her grandson and classical music.

She says,

“As a working woman, (in those days, it was not as common as it is today), I always had exposure and enough interest to understand finance and various options available to me.

Added to this, I was married into a progressive family with a strong mother-in-law. I was always aware of our investments and was part of healthy discussions regarding it.

 Therefore, when I lost my husband a few years back, I knew where to pick up the threads. While it is a blessing to have a concerned and affectionate family, consisting of my daughter and son-in-law, I take great pride in having the last say in managing my money while recognising the need for impartial and trustworthy professional advice. Prathiba has very ably and patiently helped me in my journey so far.One never knows what life has in store for us, best to wake up and take charge of your financial life now!”

#finwisewoman #financialindependence #womensday

The Finwise Woman series – In celebration of International Women’s day – 5

The Finwise Woman series – In celebration of International Women’s day – 5

Our fifth Finwise Woman is a someone who has lived life on her terms, and built financial security for herself through sheer perseverance. Kavita Krishnamurthy is a successful executive, working as a General Manager in a logistics firm, and a mother of one.

Kavita says,

“As a senior executive, and parallelly an independent mother, I have learnt to be cognizant of managing my funds well and conserving my resources optimally. Without any such backing and support for my future, some far sight and advice taught me well to keep my future secure and dependable.

Financial awareness and the right investments have been largely catalytic in helping me manifest these goals. It is indeed a matter of pride to reflect upon how far I have come in life thanks to my prudence and ability to take anything thrown at me and make something worthwhile out of it.

Being on top of your finances is not a choice, it is a compulsion, especially so for us women!”