Understanding the ‘Do It Yourself’ technique of Wealth Management

Do you actually need a Financial Planner or do you believe in ‘doing it yourself’?

No matter whether you are working out, dieting, curing any of your simple health issues, constructing your house, or considering money management – all these have two approaches to get them done, either seeking professional help or doing on your own. The decision to go for professional help depends on several factors that may vary from person to person.

Let us consider the example of building a house. For the same, one may decide to hire a personal architect depending upon his budget, the project size, as well as the kind of interior requirements. Otherwise, one can just go for a local contractor briefing, and take the supervision of the construction on his shoulders.

Resident Foreign Currency Account: The Choice of NRI’s returning India

“Aa ab lautchalen”, (meaning let us now return) is the title of a Bollywood movie which reflects the thought of many NRIs’ yearning to return to India. The decision to return requires planning, especially the finances and Resident Foreign Currency (RFC) Account is an ideal vehicle for NRIs’ to park their funds in foreign currency in India and avail off its advantages once they actually return to the country.

In the following sections we dwell on the attributes which are specific to the account in the context of NRIs’ returning back to the country.

Opening an RFC Account: Who is eligible?

The following sets of people are eligible to open an RFC account:

Any resident Indian can open an RFC account in any freely convertible foreign currency

NRIs’ who have stayed abroad for a continuous period of 1 year or more and have returned to India

The story behind 'Online Financial Calculators'

Yes, it is true that financial / retirement calculators are simple to use. Based

on a few assumptions that you input on your computer about the future, it

instantly provides you with a number that indicates how much one needs for

his/her retirement.

This calculation might appear accurate to you in terms of scientific and

mathematical terms. However, when you move deeper into it, only then you

find its flaws. It is when you input the wrong values for the assumptions that

are impossible to make, then the results will be dangerously wrong, posing a

real threat to your retirement security.

How to Identify A Reliable Financial Advisor?

How do you determine that your financial expert is actually providing you with genuine or fake advice?

Can you easily trust any financial advice that you get?

Are you sure, whether the financial advice you have received, will fill your pockets or your advisor’s?

There are a few questions that one must address, before going ahead and trusting someone as their financial advisor, mentor, expert, or money manager. Therefore, let us get an insider’s view into some very important things to know, to let you differentiate between good and bad financial advice.

4 good things to do for managing your personal finance better

Personal financial management is a matter that almost everyone has to deal

with at some point in our lives. Your money and the way you manage it are the

two most important things in life. Since these are the factors that influence the

way you live, the people you meet and almost all other things you do.

Therefore, it is very important to know about the factors (both external and

internal) influencing money management, personal as well as corporate.

Building wealth is a continuous process that can be achieved not with haste,

but gradually with time. Let us understand some of the very significant steps

that can largely increase one’s likelihood of gaining success in financial

management.

10 Principles to an Intelligent Investment Strategy

Making a smart investment is not a rocket science. It requires you to learn and follow the appropriate principles, with discipline.

An unfortunate thing about investment strategy is that most of what is taught is hazardous, as being only a half-truth. This abstract information could even prove to be expensive, many a times.

Let us now present before you the ten principles that have proven to help an investor advance higher up
achieving investment success.

1. Follow the ‘Expectancy principle’:

a. This applies relying on a systematic and analytical investment plan. Any other strategy will not give you the confidence to eventually profit. Investment is not like gambling. A good investor should rely on a calculated expectancy, in order to certainly profit from his strategy.

10 Practical Tips for Early and Wealthy Retirement

Do you dream to say Sayonara to your daily nine-to-five schedule and see the world, before you actually turn 60?

How do plan to fulfill such a beautiful dream of your life?

How do you interpret to see yourself retiring being financially successful?

Well, these questions are not as complex as they may seem. In theory, it is actually based on three very simple and easy-to-understand principles. These include: the amount of money invested, its growth rate and the amount of time required for its growth. A lot of good things heard. Now, comes the time for some reality check.
 
Have you ever wondered why very few people actually succeed in building enough wealth for their early retirement?

The reason is a lot more rationality involved, than the above stated theory. Rather than understanding and following the

3 Questions to Answer Before You Choose an Investment

When you plan to make an investment, you must be fully aware of the ins and outs of your investment. Therefore, a good advice is to find answers to a few very necessary questions, before you can actually decide upon an investment. Let us explore what these questions are, where an investor needs to lay his focus on before investing his hard-earned money.

1. Do I have an Exit Strategy?

It is good to always plan your exit, before entry – especially in case of any investment acquisition. Wondering why? Because no investment can be convenient for you, forever. With time, your objectives are most likely to change. There is a reason behind you acquiring an investment. As those reasons contravene, it is the right time for you to make an exit without much delay. Therefore, it is important for you to know your exit reasons well in advance.