Hiring a Financial Advisor? Your investing style must be the deciding factor

Hiring a Financial Advisor? Your investing style must be the deciding factor

What type of investor are you and how actually do you manage your personal finances? Am guessing that this is not something that many of us are familiar with or will find easy to answer. Unfortunately, while it should be, personal finance is not as “personal” a topic to most people as personal health is.

 

 


Hence over the last many years, while we have seen many customers with regards to how they manage their personal finances, they themselves are not as clear as we can see it, and hence make the wrong decision about what kind of personal financial assistance they need.

 

 

That said, it is important to have the right fit between your type and the kind of professional help you take. This article helps you determine what kind of an investor you are and whether the current relationship you have with a financial advisor is of the right fit. Published in Moneycontrol.

 

 

https://www.moneycontrol.com/news/business/personal-finance/hiring-a-financial-advisor-your-investing-style-must-be-the-deciding-factor-7597681.html

 

 

Image credit: Moneycontrol

 

 

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

 

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Go beyond financial planning for a happy retirement

Go beyond financial planning for a happy retirement

All of us love vacations, and the very thought of a vacation is good enough to cheer us up. Why then is it so difficult to enjoy the longest vacation of your life – “Retirement”?

 

Many of us do wake up to the impending retirement and the financial needs for the same at least a decade before we retire if not earlier. What I am referring to here is therefore not money but the important aspect of how to keep oneself busy and add meaning to retired life.

 

It is all very well to eat, drink and make merry when you are on a short holiday, but can you think of doing that and nothing else for years? When we look at retirement from this context it is sobering indeed! Imagine, we need to spend one third of our lives in retirement and yet we don’t give it the mind space it deserves.

 

Our latest article, published on Moneycontrol.

 

https://www.moneycontrol.com/news/business/personal-finance/go-beyond-just-financial-planning-for-a-happy-retirement-7502351.html

 

 

Image credit: Moneycontrol

 

 

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

 

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Explained: Five money mantras to become financially free

Explained: Five money mantras to become financially free

At its simplest, Financial Independence means “having enough money so as to never work again for the rest of your life”. But as you would agree, neither is life simple, nor is it as predictable and straight-forward as one would like it to be. This effectively means that as you go along your life journey, your definition of what Independence means keeps changing as your goal posts keep shifting.



That said, it is not rocket science, and it is something that everyone should aspire towards, not just for the financial security, but for the mental doors that it opens for you when you discover that you are no longer working for the money.




Based on our journey, I share with you below a few simple principles that you can follow to get onto, and stay on this path. But beware, what is simple to understand is rarely easy to do, and requires discipline, patience and the ability to say no to your ego.

 

https://www.money9.com/news/investment-planning/explained-five-money-mantras-to-become-financially-free-68983.html

 


Image credit: Pixabay @ Pexels

 


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

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What the recent Olympics can teach us about managing money matters

What the recent Olympics can teach us about managing money matters

In the past weeks, the 32nd Olympics, Tokyo2020, provided the world with sporting excellence and entertainment on display across a range of disciplines. For avid sports fans, these two weeks were exciting days, merrily switching live-streams across events as diverse as hockey, gymnastics, track & field, badminton and golf.


While there were winners, we discovered there were many more heroes, some whose names we heard for the first time, but will remember for long. The Olympics provided some memorable moments but also lots of food for thought. Here are a few observations, particularly pertinent in these raging bull markets.



https://www.moneycontrol.com/news/business/personal-finance/what-the-recent-olympics-can-teach-us-about-managing-money-matters-7364211.html



Image credit: OutlookIndia, AP Photo



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

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5 simple steps for DIY Investors to manage their investments

5 simple steps for DIY Investors to manage their investments

In the last few years, we have experienced two changes that are here to stay – One, the average investor is getting younger. And two, the investing process has moved to being fully digital.


These two factors, combined with the new-age confidence that today’s younger generation possesses, has led to more and more investors seeking to invest on their own. Or as it is known popularly, DIY (Do-it-yourself).


That said, investing in markets is fraught with risks, and understanding those risks and preparing for them is a critical pre-requisite for both creating and protecting wealth. Hence having a laid-own process with key steps to follow will help DIY investors have a guide-map to reach their objectives as well as guard-rails to ensure that they don’t fall off in the interim.


Our latest article, published on Money9.


https://www.money9.com/news/investment-planning/steps-for-diy-investors-to-manage-their-investments-55200.html



Image credit: Money9



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

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What sports coaches and investment advisors have in common

What sports coaches and investment advisors have in common

In the last few weeks, sports fans have been treated to some exciting and memorable sports events – the French Open, the WTC final and now the Euro. These three sports are completely contrasting in the way they are played, in the intensity of the games, the importance of the team vs the individual as well as the interplay between the players and the coach.



Our latest article, published in Moneycontrol talks about what can we learn from these sports specifically on the last point above, that we can apply to how we manage our money.

 


https://www.moneycontrol.com/news/business/personal-finance/what-sports-coaches-and-investment-advisors-have-in-common-7116661.html

 


Image credit: Moneycontrol

 


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

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Don’t just stop at taking a home loan, make sure it’s insured too

Don’t just stop at taking a home loan, make sure it’s insured too

Dealing with the aftermath of Covid wave 2 has been unsettling and depressing.  The family which has lost a loved one suddenly needs to deal with a lot of chaos and confusion, not even allowing them to grieve in peace.  This is primarily since in most households, one spouse takes the lead in handling finances and related matters.  The other spouse naturally gets complacent that these matters are being taken care of and hence doesn’t even attempt to get a broad picture of the state of assets, liabilities etc.




While this experience has given a lot of action points and mistakes people should avoid, we will concentrate on liability, especially the home loan for the sake of clarity.

 

Our latest article, published on Moneycontrol

 

https://www.moneycontrol.com/news/business/personal-finance/insure-home-loans-and-keep-your-spouse-informed-on-investments-during-covid-19-times-7012761.html

 


Image credit: Moneycontrol

 


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

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All you need to know about EDLI – Employee Deposit Linked Insurance

All you need to know about EDLI – Employee Deposit Linked Insurance

 

 

Employee Deposit Linked Insurance or EDLI is a mandatory insurance scheme for private sector employees who are enrolled into EPF. The quantum of insurance provided depends upon the salary (salary refers only to Basic and DA) drawn in the last 12 months before death.  The insurance paid out is subject to a minimum of two point five Lakhs and maximum of seven lakhs.


Read more about EDLI in our article published in Money9 below and propagate this widely to help families in distress.


https://www.money9.com/news/provident-funds/employee-deposit-linked-insurance-all-you-need-to-know-34148.html

 


Image credit: Money9, Pixabay

 


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

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Find out how smart were your money decisions in the last 12 months

Find out how smart were your money decisions in the last 12 months

My recent article was about how just like we frequently do a stress test as part of our regular health check-ups, we also need to periodically “stress-test: our personal financial health to check preparedness for financial calamities.

 

While many of us thankfully may be financially secure and prepared for calamities, we nevertheless can still do better when it comes to taking money decisions. And there are enough practical life situations around us that we face (or observe) that we can learn from on how we can take our money decisions better.

While we might feel that we are good at taking money decisions, how good are we really? The best way to learn is from our own experiences and the last 12 months will have given you plenty of them to learn from! So, give this “practical exam” to learn how good you are with your money decisions.

 





Our latest article, published on Money9.

 

https://www.money9.com/news/money-mistakes/find-out-how-smart-were-your-money-decisions-in-the-last-12-months-33417.html



Image credit: Money9



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

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How to be better prepared financially for the “wars” in your life

How to be better prepared financially for the “wars” in your life

While we make extensive plans for most eventualities, something suddenly happens that takes us by surprise and throws all our plans haywire. Take the last 12 months itself as an example.

In a way, we live our lives largely assuming things are going to be peaceful and are usually well prepared for peace-time events. We do make our plans and are prepared for some surprises, but it is when “war-time” strikes our lives that we suddenly find ourselves head under water and gasping for breath.


Such times are also the best time for us to learn about our resilience, our capabilities, our strengths & weaknesses and give us the best clues about what to change about ourselves, hopefully before the next “war” hits.


So, what are some of the “war” situations that has struck your life and how prepared were you? And how can one be better financially prepared for when “wars” strike?


Read our latest article, published on Moneycontrol.



https://www.moneycontrol.com/news/business/personal-finance/use-the-covid-crisis-to-stress-test-for-your-personal-finance-plans-6821181.html



Image credit: Moneycontrol


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

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