Good Moneying is a way of life. It works on the principle of “What you Sow is what you Reap”. Just like to get respect, you have to give respect, same way at Good Moneying we believe that if you are good with your money, money will surely reciprocate in the same manner.
How to choose the Best Financial Advisor in India - Good Moneying. In this complicated world of finance, Financial Advisors carry an important place. Financial Advisors in India are in big demand, not only by the Resident Indians who are salaried, Professional, or Retired, but even Non-Resident Indians (NRIs) seek for Best Financial Planners in India for their Personal Financial Planning. Today, technology is playing a major role in our daily lives. A large part of our day revolves around apps, gadgets, social media, etc. and Google has become our “best-friend”. You try to find solutions to all of our problems and answers to our questions on Google and think that whatever is shown on top in the Google Search Results is true. Even when it comes to sensitive topics like financial planning, money management, or taking crucial financial decisions we rely on Google, try to apply the advice given to others on self, without realizing that it may have serious repercussions, adversely impacting our financial lives.
Types of Financial Advisors in India: Transparency. SEBI Registered investment advisor fee models in India. After so many years of working as SEBI RIA (I was among the earliest few actually), I can truly feel that the awareness about these professionals has increased. However, with different fee models being followed by them, Investors are still confused about whom to select. Reluctance to pay fees has come down, in the past couple of years and investors are now realizing the importance of professional advisors. But, with different advisors charging differently the confusion has moved from “Why Charges”?
To “How much Charges?” And this question comes to those minds who understand that Low prices may not always be the best. They want to understand, how much do SEBI Registered Investment Advisor charge. and which fee model will suit their requirement. The various fee models being adopted by SEBI Registered Investment Advisors are – Percentage on AUA (Assets Under Advice), Some charge Fixed fees with Limited advice, and some Full service under the fixed fee model.
Pizza or Salad? Fixed Fee Model – Financial planning for NRIs in India | Financial Advisor for NRIs. Lately, I was working on projects for financial planning for NRIs and found very common problems in your Investment portfolios. and also, there were some common goals which I would like to highlight here. (Read : Who is an NRI – FEMA and Income Tax rules?) The issues that I found in the respective portfolios clearly shows that, NRIs are among the most exploited lot of investors, and also the most missold ones after “Retirees”. The main Reasons to this are The Time Constraints – You Visit India for very short time and in that, have very less time to focus on your money matters No Financial Planning Approach – You do not look at your Holistic financials and work on Bits and Pieces approach, which does not let you understand the WHY part of your Investments and you end up investing in the wrong product The Financial Advisor – Most of the NRIs are advised by their bankers, or some insurance agent which has been serving the family for quite long.
Common Mistakes in Investment Portfolios of NRIs. SIP in NPS | Invest in NPS through SIP - Good Moneying. NPS is a long-term investment product meant for retirement planning. Additional tax benefit under section 80CCD(1B), 60% lump-sum tax-free withdrawal on retirement, low-cost structure, decent performance track record makes it an attractive investment option. You may read about NPS in detail in this article. Although previously many of the investors were reluctant to go with this product due to the withdrawal restrictions and operational difficulties, but I must say, NPS has evolved as an investment product and it has come a long way from its initial days of existence. You may go through the NPS withdrawal rules here. Giving the investors an option to open and operate NPS accounts online or e-nps was a welcome step to ease out the process of making transactions and operating the account.
To make it more investor-friendly PFRDA has recently launched a D-Remit facility through which you can transfer your money directly to the NPS account and get the same-day NAV. Pizza or Salad? Financial Planning in India for NRIs.pptx. SEBI Registered investment advisor fee models in India. Investment Plans for NRI Retiring in India | Important Considerations. Despite spending most of their time outside of India, Non-resident Indians (NRIs) are still Indians. Most of them are abroad for work, education, business, or sometimes staying with their relatives there. When they grow old, many NRIs decide to come back for good – the home where the heart is! To enjoy their golden years of retirement, the proximity of familiar faces, places, and life phases are essential. Retirement in India also gives them the advantage of a lower cost of living (barring a few metro cities) compared to most developed countries.
The Perpetual Dilemma If you are an NRI for many years, then retirement in India may be a bit complicated for you. Staying away from India for a long time – you are unaware of the living conditions, expenses, medical facilities, and many other factors. Additionally, some personal factors affect your retirement decision – ranging from career opportunities, lifestyle choices, retirement age, and so on. 1) NRI Retiring in India: How Much is Enough? SEBI Registered Fee-only Financial Planner India - Good Moneying. Who are Fee Only Financial Planners? As the name suggests, these are Financial planners who earn only Fees for their advice.
They do not deal with any product selling and thus do not earn any commission from any product. The main job of these professionals is advisory, and when they earn only from the client, then it is assumed that their advice is in the best interest of the client, with no bias. If you are wondering that all financial products have some sort of commission inbuilt for the Planners/Advisors or by whatever name you know them with, then you are not updated. Since 2013, at least in Mutual funds, there is a “Direct” Mutual fund category, where the Expenses are less and No Commission is paid to anyone. SEBI Registered Investment Advisors are mandated to provide Fee-Only Services to their clients and advice only in the “No” Commission product where ever available. What is the difference between Fee-Only, Fee-Based & Commission-Only Advisors? Step Approach to Do Your Investment Portfolio. Seeing the Past years’ Average and Absolute performance, one of the blog readers emailed me his investment portfolio to review and asked about the 2024 strategy for “long term growth”.
I wonder if it was for Long term growth then why he wanted to have a 2024 strategy. Anyhow, I never review the Portfolio just like that, I just asked him a few questions to have him review the portfolio himself. For the benefit of all readers I would like to share those questions in this post. Before that, let me share the images which led him to approach me.
For different investors, these images may evoke different emotions. Whichever side you are on, the below questions will help you design or review your investment portfolio and create something good for you. Question 1 – WHY did you invest in the first place ? Were there some goals or you did it for fun and now when you have made money, you are thinking of investing more? Without Goals everything is haphazard and direction less. Conclusion: Financial Planning Thumb Rules for better Investment. 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. Read more: What is the Right Time to Start Financial Planning? 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: Annual Health Checkup of Finances. To keep up with your Physical health, it is advisable to get your Health Checkup and blood work done on an annual basis.
Same way your Financial Health also needs an Annual Health Check Up. What’s a better time to do this than the start of the financial year. By this time, you must have gotten the idea how well you delivered in your work last year and how much of the bonus and salary appraisal you should expect. So, the Inflow part would be more or less clear. Annual health checkup of Personal finances does not just involve how well your investments have performed in the last year, but it is about looking at the broad structure on which you are managing your personal finances. Let’s delve deeper into the subject. By the way, just to let you know that we are nowadays trying our hands on Instagram and have been adding quite interesting content over there.
Annual health checkup of your Personal finances: 1. This will give you an idea on how liquid your financial position is. Pizza or Salad? 2. Startup funding as an investment option for retail investors: Factors to consider? You would have heard about startups raising funds to run their business, but what if you can also take a part in their growth story? That’s possible with startup funding investments.
This is an alternative investment option that allows retail investors to fund startups for the capital requirement and earn competitive returns on the same. In recent years, India has become a hub for start-ups with more than 1,12,718 startups recognised under DPIIT as of October 2023. The number of Unicorns has reached 113 with a total funding of $100 billion. Additionally, from 2018 to 2023, Indian startups have raised a total of $110.08 billion. This shows the increased interest of investors in this alternative asset class. However, because start-up funding is a comparatively new investment option and lacks awareness compared to other investment instruments like equity, it becomes crucial for you to understand each and every nuance before making an investment decision. 1. 2. 3. (B) Earn higher returns. Invoice Discounting as an Alternative Investment Option. In recent years, two things have changed in the investment landscape i) investor preferences ii) increasing tilt towards alternative asset class for investment.
Both these changes are interrelated. India has witnessed a rise in young investors in the past couple of years. In March 2021, accounts held by investors between the ages of 18-20 were 3.4 million, which increased to 16.1 million in September 2023. Additionally, with the Fintech revolution, there has been a spike in available investment platforms and innovative investment options. This has increased accessibility for young investors who prefer new asset classes by getting attracted to higher return promises even if they come with a “high risk” tag. Read more: Asset Location is as important as Asset Allocation The result is new investment avenues such as cryptocurrencies, fractional real estate, start-up funding, invoice discounting, P2P Lending and more.
What is invoice discounting and why is it becoming popular? Pizza or Salad? Services offered by certified financial planners in Chandigarh. Certified Financial Planners in Chandigarh offer a wide range of services to cater to the diverse financial needs of individuals and businesses. These services are designed to provide comprehensive financial planning solutions that align with their clients' goals and aspirations. Here are some common services offered by certified financial planners in Chandigarh: Investment Planning: Certified financial planners help their clients develop investment strategies that align with their financial goals and risk tolerance. They analyze various investment options, such as stocks, bonds, mutual funds, and real estate, to create a diversified portfolio that maximizes returns while managing risk.Retirement Planning: Planning for retirement is a critical aspect of financial planning.
These are just a few examples of the services offered by certified financial planners in Chandigarh. Each planner may have their areas of specialization and expertise. Personal Financial Planning services. “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. How a Mutual Fund Advisor Can Help in Diversifying Your Investment Portfolio. Are you looking to maximize your investments and discover new financial opportunities? Look no further than the best mutual fund advisor in Chandigarh. With their expert guidance and in-depth knowledge of the market, you can unlock the potential of your investments and watch them grow. Investing in mutual funds can be a smart move for individuals looking to diversify their portfolio and achieve long-term financial goals. However, navigating the complex world of mutual funds can be challenging without the right expertise. That's where the best mutual fund advisor in Chandigarh comes in. Their team of experienced professionals understands the intricacies of the market and can tailor investment strategies to meet your specific needs. By working with the best mutual fund advisor in Chandigarh, you can gain access to a wide range of investment opportunities and ensure that your money is working hard for you.
Importance of Financial Advisors in Mutual Fund Investments. Boost Your Investments with the Best Mutual Fund Advisor in Chandigarh – Unlocking New Financial Opportunities – Good Moneying Financial Solutions. Importance of financial advisors in mutual fund investmentsInvesting in mutual funds can be overwhelming, especially for individuals without a background in finance. That’s where a mutual fund advisor can make a significant difference. A mutual fund advisor is a financial professional who specializes in helping individuals make informed investment decisions, specifically in the realm of mutual funds. One of the primary reasons why a mutual fund advisor is essential is their expertise in the market. They spend countless hours researching and analyzing different mutual funds, keeping up with market trends, and identifying potential investment opportunities. Their in-depth knowledge allows them to provide valuable insights and guidance to investors, helping them navigate the complex world of mutual funds.
Another significant advantage of working with a mutual fund advisor is the personalized advice they offer. Lastly, a mutual fund advisor in chandigarh can provide peace of mind. Home. Mastering Your Financial Future- Navigating the World of Online Financial Planning in India. Investment Insights Chandigarh's Leading Advisor Shares Strategies.pptx - Google Slides.