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Financial Wellness is all about your Money bringing positiveness in your Life .Balancing Life and Money is the core at Good Moneying. Through my Blog and Personal Financial Planning Services, I am on a Mission to help people achieve their Life goals and live a RICH Life.
Unlocking Your Financial Potential Guidance From A Chandigarh Advisor.pptx - Google Slides. 5 Key Qualities to Look for When Hiring a Mutual Fund Advisor in Chandigarh – goodmoneying. When it comes to investing your hard-earned money in mutual funds, it’s essential to have a reliable and knowledgeable advisor by your side. In Chandigarh, where the financial market is constantly evolving, finding the right mutual fund advisor can make all the difference. But how do you know which advisor to choose? In this article, we will explore the five key qualities to look for when hiring a mutual fund advisor in Chandigarh. These qualities will help you assess an advisor’s expertise, experience, and ability to understand your financial goals.
Importance of hiring a mutual fund advisor Investing in mutual funds can be overwhelming, especially for those who are new to the world of finance. A mutual fund advisor can help you navigate the complexities of the financial market, assess your risk tolerance, and create a customized investment plan tailored to your specific needs and goals. Qualities to look for in a mutual fund advisor Experience and expertise in the field.
Unlocking Financial Success - Why Hiring an Investment Advisor in Chandigarh is a Wise Choice. Money Management for Kids: Essential Lessons to teach. Parents are the first teachers of their kids. Be it social skills or life skills, parents give the first lessons to their kids. They support when the children falter, encourage when the morale is down, and cheer them when they succeed. Parents try to ‘shield’ their children from the harshness of life. But it does not prepare them for the realities. In fact, when kids have no one to turn to they end up making wrong decisions in the absence of a framework. One of the most essential lessons in life that every parent must give to their children is skillfully managing money. It is also important to teach the right lessons on money management for kids at the right age.
Start Young Staring early, you can put them on the right path. So, what is the right age to start? Well, the financial journey of each child would be unique. Also Check- What is the Right Time to Start Financial Planning? Here are some age-appropriate money management tips for kids. Money Management for Kids: Ages 3-8 Money is Limited. 10 thumb rules for better Investment Management. In today’s fast-paced world, people (especially the younger generation) seek shortcuts and simplified rules in almost all aspects of life. Money management is no exception. The primary reason behind this could be the behavioral biases coming into play.
Where, we prioritize short-term pleasures over long-term gains. I frequently hear many young guys expressing their reluctance to get into the “complex and boring” process of financial planning, instead they keep asking for shortcuts. Financial planning is a complex and personalized process, but the ultimate aim is to simplify the financial life. Though still, there are some general thumb rules that can help you streamline your money life. However, It’s important to note that these rules are very basic and are meant to be taken only as guidelines. Here are a few common financial planning thumb rules that can be a good starting point: Budgeting/Cash flow planning thumb rules: Income minus Savings = Expenses 50-30-20 rule/ 30-30-30-10 rule. E-Insurance Account mandatory from October 1’2016 - How to convert your insurance policies in electronic form. E Insurance account is soon going to become a mandatory thing while buying new insurance policies and even while renewing your existing policies.
This applies to all kind of insurance policies be it Life, Health, Motor, Travel etc. As per IRDA (Issuance of e-Insurance Policies) regulations, 2016; from 1 October 2016, most of the Insurance policies will be issued in electronic form. Electronic Insurance policies will be issued if either the sum assured or either the Sum assured or Single/Annual Premium criteria is met, as mentioned in the table below. You can see in the above table that while there is a Premium or Sum Assured Criteria on most of the policies, all motor policies and overseas travel insurance have to be compulsorily issued in electronic form. Also if your existing policies satisfy the criteria above, then you may be asked to get them renewed in electronic form. What is e-Insurance account? In Simple words, e-insurance account is just like your Demat account.
CAMS Repository. Qualifications and Expertise of Investment Advisors | by goodmoneying | Feb, 2024 | Medium. When hiring an investment advisor in Chandigarh, it’s important to consider their qualifications and expertise. These professionals play a critical role in managing your investments and guiding you towards financial success. Here are some key qualifications to look for when selecting an investment advisor: Education and Certification: A reputable investment advisor should have a strong educational background in finance, economics, or a related field.
Look for certifications such as Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or Chartered Investment Manager (CIM). These certifications indicate that the advisor has undergone rigorous training and has met the required standards of professional competence. Experience: Experience is a crucial factor when evaluating investment advisors. Look for professionals who have a proven track record of successfully managing investments and helping clients achieve their financial goals. Review your health insurance portfolio - Are you covered of all Risks? Every year when my health insurance policy gets due for renewal or whenever my client asks me that if their health cover is enough, I find myself in a fix.
I believe, there’s nothing like “enough” when you want to provide for uncertainty. That is why it is called uncertainty. Life and Health are the most important factors in any financial planning exercise. You can save for goals only if you are there and are living a healthy life. Though financial responsibilities in case of your demise can be provided for, by having adequate life insurance, with some basic calculations, but there are no calculations to find out how much of health insurance is enough.
I once tried to answer this question and wrote a detailed article on it, but with so many different policies which include critical illness, Personal accident policy this health insurance space becomes too complex and it doesn’t let you think for a simple solution. Income loss doesn’t hit in the initial stages of critical Illness.
Buy a House or Invest for Long-Term Goals? How to chose? Rajiv and Meenal, a newly wedded couple, visited my office to discuss the Investment options to save for their house buying. Both of them were salaried and currently living in Rajiv’s parents house, and thus had a nice disposable income with them, which they want to put into productive use, with an idea of buying their own home as soon as they can. But me with my financial planning mind , always start with the risk side and want to understand the other investments and liquidity already in place. Since it’s been only 6 months of their wedding, it was a kind of honeymoon period going on for them, so expenses are totally out of hand. And due to the wedding expenses they have also withdrawn all their old savings done till date.
Thus almost zero liquidity. So, how much would you like to pay as a down payment and what’s your budget for the new house, i asked them. Rajiv replied that they are a bit confused. What should be the right choice for them and why? So, there’s no clear answer to this. Financial Planning Careers - GoodMoneying. Complaint Status – SEBI Requirement - GoodMoneying. Investor Charter - GoodMoneying. A. Vision and Mission Statements for investors Vision Invest with knowledge & safety. Mission Every investor should be able to invest in right investment products based on their needs, manage and monitor them to meet their goals, access reports and enjoy financial wellness. B. C. Onboarding of Clients Sharing of Agreement CopyCompleting KYC of Clients 2.
To provide full disclosure about its business, affiliations, compensation in the agreement.To not access client’s accounts or holdings for offering advice.To disclose the risk profile to the client. 3. D. 1. 2. 3. E. Do’s i. Ii. Iii. Iv. V. Vi. Vii. Viii. Ix. X. Xi. Don'ts xii. Xiii. Xiv. Xv. Xvi. Xvii. Xviii. Xix. Comprehensive financial planning|Investment advisory services in India. Goal based financial planning|Personal financial planner in India. As the name suggests, financial planning is about planning and organizing of your finances, to arrange them in such a way so you can achieve your long and short term financial goals comfortably. Yes, it does involve investments in different instruments, but those are suggested only after having a clear view of your cash flow and net worth status. Also your Risk profile needs to be understood to suggest you with suitable Asset Allocation.
Its a Fee Only Profession, and is regulated by SEBI. If anyone is offering you Free service that should be a Red Flag for you , as the person must be earning something in the form of commission which may be construed as a conflict of interest in advisory and is prohibited by the Regulator. When it comes to Personal finances it is very important for you to be vigilant, as wellness in this segment will bring happiness in other life areas too. And remember it is not only about Returns, but well managed and easily understood structure, for self and family. NRI Financial Planning | Retirement Planning in India - Good Moneying. Grievance Redressal Policy | SEBI RIA Rules - Good Moneying.
Annexure B Information regarding Investor Grievance Redressal Mechanism in Accordance with SEBI Circular No CIR/MIRSD/3/2014 dated 28th August 2014 Dear Client, In case of any complaints / grievances against your Investment Advisor,Please contact Compliance Division of your Investment Adviser, Mr. Manikaran Singal at mks@goodmoneying.com and Phone Number +91 98880 42908 If you are not satisfied with the response, you can contact SEBI through their Grievance Redressal Portal at or you may also write to any offices of SEBI. For any queries, feedback or assistance, please contact SEBI office on Toll Free Helpline at 1800 22 7575 / 1800 266 7575 You may also contact SEBI Local Office in Chandigarh at the below mentioned address: SCO 127-128, First Floor, Sector 17C, Chandigarh - 160017.
You may also refer to the Master Circular for ONLINE DISPUTE RESOLUTION MECHANISM (SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/14) ISSUED and updated BY SEBI ON Aug 11’2023. Online Personal Financial Planning Services - Good Moneying. “Financial Planning is a Habit Building Exercise. Once you are Habitual to Discipline and Follow the Process, the Great Financial Life will Follow”. This is How Your Life Might Look Like Lots of Uncertainity There is no Job Security, Businesses are Challenging, Life is always Uncertain, and Health Problems are Normal these days Multiple Goals You have to take care of all. Risk Vs Returns You want Returns with Low or No Risk.
High Inflation Don’t know where the Money is going. Many Distractions Too much Gyan around – On Social media, Newspapers, Friends, Family No Clarity Dealth with bankers, Insurance Agents and many “So called’ Advisors. You have Questions… The Confusion around has further filtered down to specific Questions which you may be seeking answers to, So to have a clear action Plan How to take care of all Responsibilities? And… The Bigger Question – WHERE TO INVEST?? Hundreds of Mutual Funds/ Thousands of Stocks/Bonds/Post Office savings/ Bank products/ Insurance Policies/ PMS/ AIF. Dr. Personal Financial Planning India | SEBI RIA - Good Moneying.