Monday, November 4, 2019
Tuesday, October 22, 2019
Let's Talk Money With Monika Halan
If you fail to plan, you plan to fail - Benjamin Franklin
Financial Planning is more important in life. Most of the people have little or no financial literacy and put their hard-earned money in the wrong basket that costs them a lot.
Please be informed that Financial planning is not taught in Schools or Colleges, and it must be learned through books and Youtube through qualified Financial planners.
Watch the below conversation with Monika Halan, a Financial expert who gives perfect financial planning advice to safeguard your hard-earned money.
Monday, October 21, 2019
Why life insurance is not an investment option ?
I have invested lots of money in Life insurance as a Risk Mitigation.
However, after doing lots of Financial planning research, I have understood that Term Insurance is the best Risk Mitigation instead of traditional Life Insurance [ Life Cover + Money Back ].
Please be informed that Life Insurance is not the best investment option. You should never mix life Insurance with the Investment.
Before you take the Life Insurance for you or your family members, please watch this video.
Wednesday, September 19, 2018
Financial Freedom - Do what you have to have to Do First
Do what you have to do, until you can do what you want to do - Oprah Winfrey
An article written in the Washington post states that, "Only 13 percent of people worldwide actually like going to work". If you are one among of the lucky 13 percent, you are welcome to stop reading this article. If you want to live a happy life, you need to do the job which you love.
In our early childhood, we might have dreamed to become a Farmer,Chef, Entrepreneur, business man, etc. However due to peer pressure and attractive salary from other jobs, most of us might have been forced to pursue a career which we don't like.However, there are some exceptions, in-which the people are blessed to join a job in their early career, which they love the most.
In this modern age, we have been programmed to do a job for salary and not as per our passion. Our status is judged by the amount of our paycheck. No one bothers to ask us whether we like our job ?
During my recent research about Financial Freedom / Financial Independence, I am pleasantly surprised to come across some of the persons, who have planned their Finance brilliantly and retired early from their 9 AM to 6 PM jobs. One such person in Mr.Money Mustache.
Mr.Money Mustache have planned his finance from the day he got his first paycheck. He have retired successfully at the age of 31, from his Software Job. He is now guiding persons across the world to come out of the 9 AM to 6 PM Ratrace and live their dreams. Now after retirement, he spends quality time with his family and do what he truly loves.
Once you achieve financial freedom, your assets ( Rental Home, Bonds, Stocks, etc) will generate income ( Cash flow) that will fulfill your monthly expenses. So that you no longer depend on your job for your monthly expenditure.
Tips to Younger Generation :
1) Join the course / degree that you love most.
2) Don't join the course / college as your friend have joined it or your father have adviced you to join.
3) Don't select the job that pay you most, instead select the job that you pay attention most.
Tips to Freshers / New Joiners :
1) Try your BEST to get the job that you love most.
2) Incase if you don't get the job You love, accept the job whichever comes on your way and start planning your finances early.
3) Everyday allocate some time to sharpen your skills for the Job that you would like to do after your early retirement.
Tips to Married Persons :
1) I strongly recommend you to achieve Financial freedom, before you pursue your passion.
2) You have the primary responsibility to take care of your family and dependents [If Any], and don't take the risk of changing the career path until you have a financial security.
Summary :
1) It is possible to live your dreams, if you start planning your finances early.
2) Financial Management is an art and everyone of us to learn it to multiply it.
3) If you are married, pursue your dreams only after achieving your Financial Freedom / Financial Independence.
An article written in the Washington post states that, "Only 13 percent of people worldwide actually like going to work". If you are one among of the lucky 13 percent, you are welcome to stop reading this article. If you want to live a happy life, you need to do the job which you love.
In our early childhood, we might have dreamed to become a Farmer,Chef, Entrepreneur, business man, etc. However due to peer pressure and attractive salary from other jobs, most of us might have been forced to pursue a career which we don't like.However, there are some exceptions, in-which the people are blessed to join a job in their early career, which they love the most.
In this modern age, we have been programmed to do a job for salary and not as per our passion. Our status is judged by the amount of our paycheck. No one bothers to ask us whether we like our job ?
During my recent research about Financial Freedom / Financial Independence, I am pleasantly surprised to come across some of the persons, who have planned their Finance brilliantly and retired early from their 9 AM to 6 PM jobs. One such person in Mr.Money Mustache.
Mr.Money Mustache have planned his finance from the day he got his first paycheck. He have retired successfully at the age of 31, from his Software Job. He is now guiding persons across the world to come out of the 9 AM to 6 PM Ratrace and live their dreams. Now after retirement, he spends quality time with his family and do what he truly loves.
Once you achieve financial freedom, your assets ( Rental Home, Bonds, Stocks, etc) will generate income ( Cash flow) that will fulfill your monthly expenses. So that you no longer depend on your job for your monthly expenditure.
Tips to Younger Generation :
1) Join the course / degree that you love most.
2) Don't join the course / college as your friend have joined it or your father have adviced you to join.
3) Don't select the job that pay you most, instead select the job that you pay attention most.
Tips to Freshers / New Joiners :
1) Try your BEST to get the job that you love most.
2) Incase if you don't get the job You love, accept the job whichever comes on your way and start planning your finances early.
3) Everyday allocate some time to sharpen your skills for the Job that you would like to do after your early retirement.
Tips to Married Persons :
1) I strongly recommend you to achieve Financial freedom, before you pursue your passion.
2) You have the primary responsibility to take care of your family and dependents [If Any], and don't take the risk of changing the career path until you have a financial security.
Summary :
1) It is possible to live your dreams, if you start planning your finances early.
2) Financial Management is an art and everyone of us to learn it to multiply it.
3) If you are married, pursue your dreams only after achieving your Financial Freedom / Financial Independence.
Monday, September 10, 2018
Five Golden Rules on Financial Management by Mr.Senthamizhan
Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like —Will Rogers
Mr.Senthamizhan Maniarasan is the founder of
Semmai Vanam [ A training initiative, that helps the people, to go back to our
human basics and nature ]. He regularly delivers speeches about healthy,
happy, peaceful and meaningful living.
In the below article, I have presented the tips
given by Mr.Senthamizhan about Financial Management during one of his
lectures.
- Never buy a home on EMI [ Home Loan ]
- Never buy a car on EMI [ Car Loan ]
- Never Spend too much money for Wedding / Marriage
- Never Spend too much money for Birthday party
- Never spend too much money on child’s Education
I strongly agrees to all the above five points
about the financial management suggested by Mr.Senthamizhan. It is we who put ourselves in the Financial Ratrace
and always complaint someone else for our problems.
Let’s have a clear understanding between Wants
and Needs and spend only for the things that is a need. Wish you all a wealthy and prosperous life.
Wednesday, September 5, 2018
Famous Quotes on Personal Finance
Give a million dollars to someone who does not possess the attitude of a millionaire and that person will most likely lose it. But take away all the wealth from a true millionaire and in no time he or she will build a new fortune. Why? Because those who earn their millionaire status develop the skills, knowledge, and experience to duplicate the process again and again – Jim Rohn
Good health, longevity, happiness, a loving family, self-reliance, fine friends. if you [have] five, you’re a rich man.
― Thomas J. Stanley, The Millionaire Next Door
Good health, longevity, happiness, a loving family, self-reliance, fine friends. if you [have] five, you’re a rich man.
― Thomas J. Stanley, The Millionaire Next Door
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