Do you want information garbage or filtered investment ideas?

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Do you want information garbage or filtered investment ideas ?

A valid and a relevant question......

Though there are various compelling reasons for the need of a financial planning planner like,

• Extremely busy @ work
• Can't figure out goals and priorities
• Complex financial markets
• Too many products to choose from

the key reason for choosing a financial advisor should be for getting specific and precise information and knowledge to create a robust personal financial plan.

A CEO of a Software company in the US made a very very interesting observation recently. He said, "20th Century was about content, 21st Century is about context". Very interesting piece of observation. Content without context is useless.


Age of Information garbage:

We are living in the age of information garbage. Google floods you with tons of information on anything and every thing you wanted... It perhaps gives you million links quite easily on any subject. Not only that, there are so many people around you who either provide with information garbage or very little information which cannot be relied upon to decide on critical things like investing and financial planning. Content is enormous and huge, but getting the information with right context is a big challenge.

What are the choices for an investor?

If an investor who wants to create a robust financial plan tries to search and seek investment information from ordinary sources and information garbages,

 

This is what one gets.. Just raw, unfiltered information which can compound his/her investment decisions.


BUT... Money Avenues can provide you this..

On the lighter side one can infer this as a welcome drink while coming into Money Avenues, but on a serious note, Money Avenues provides you with precise and specific investment ideas which are required to summarize your financial goals, priorities and wealth creation.

Because Investing is not just about information, it's about knowledge...

Speak to experts @ Money Avenues for knowledge backed financial planning...


(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Let's do it....

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Let's do it...

Let's do it...

Sounds very simple, but offers a great example of getting outstanding ideas from people. 

Am sure we all were impressed by Nike's popular "Just Do It" ad tag, and to our amazement it was actually inspired during an execution of a criminal. Gary Gilmore, the notorious spree-killer, uttered the words “Let’s do it” just before a firing squad executed him in Utah, in the US in 1977. Years later, the phrase became the inspiration for Nike’s “Just Do It” campaign. The founder of advertising agency Widen + Kennedy, Dan Widen credits the inspiration for his "Just Do It" Nike slogan to Gary Gilmore’s last words.

Life is all about people, people and people. Speak to people, listen to people and you will end up getting some great ideas. Same is the case with your money management. Speak to money specialists for the right information. Otherwise sitting in front of the computer and searching the internet is like....

Your "Lets do it" attitude on money should be:

**Let's have SMART financial goals:

Goals should be Specific.Measurable.Achievable.Realistic.Time- bound.

**Let's have precise financial priorities:

Our priorities are endless and they keep changing. Rank your financial priorities in the order of importance and write them down as well.  For eg., 1.My retirement, 2. Child's education etc., Getting your financial priorities correct will be key to a great financial future.

**Let's have ample insurance cover:

 

All one can give his family on his absence is the financial security and not the moral security. Life insurance is a great tool to give that financial security. Given the uncertainty in the world coupled with mobility of jobs, insurance is the best security for a family.

**Let's create wealth:

You are working really hard for your money, let's your money work equally hard for you.. What we earn is only one part; but what we create from that earning is another important part. Remember, some of the billionaires created wealth starting with few dollars in their wallet. By keeping your money idle, your doing injustice to your hard work... Save wisely, invest intelligently...

**And let's do a great financial plan:

Any long journey should start with great planning and effective execution. Castles are never be built on the air. And do remember - "Wealth planning and financial planning is not just for millionaires. It's more for people who aspire to become millionaires."

Speak to experts @ Money Avenues for your personalized financial planning and let's "Do It" for your bright financial future..


(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Breaking your "Four minute mile" on money...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Breaking your "Four minute mile" on money...

The story of Roger Bannister is an inspirational one. For many years it was widely believed to be something impossible for a human to run a mile (1609 meters) in under four minutes. In fact, for many years, it was believed that the four minute mile was a physical barrier that no man could break without causing significant damage to the runners health. The achievement of a four minute mile seemed beyond human possibility, like climbing Mount Everest or walking on the moon.On the 6^th of May 1954, during an athletic meet Roger Bannister ran a mile in 3 minutes, 59.4 seconds. 

What made this event so significant is that once the four minute barrier was broken by Roger Bannister, within three years, by the end of 1957, 16 other runners also cracked the four minute mile. Roger Bannister eventually proved the barrier was mental and not physical.

His book "The four minute mile" is an interesting read....


We can definitely relate many "four minute mile" situations in our life. I would like to relate the "four minute mile" in handling of our money. Our goals and priorities determine our lives, more so our financial goals and financial priorities. Few common things we highlight are "how to set a goal for next 15 or 18 or 20 years which is too long", "find no time to manage my money", "my priorities keep changing always".. etc.,


Let's say you are taking a very long drive on road to another city. You have your basic travel in place; if the situation demands we keep altering it and reach the destination. Same is the case with our lives also. We need to break that mental block and formulate financial goals for us. True, they are bound to change over the period of time. But that should not prevent one from planning. 

Have financial goals in life:

Get your priorities right:

Being busy @ work is good, but have your personal priorities in place. Rank your financial priorities in the order of importance. And do it right NOW...


And as proven by Roger Bannister, it's all in our minds. Let's crack the "four minute mile" situations in our life.


Speak to experts @ Money Avenues to crack your "four minute mile" on your money.... Because it's your money...




(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Be unique, feel unique, financially...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 


Be UNIQUE, feel UNIQUE, financially - because you are UNIQUE...

Every one of us want to be exclusive from others in our life. The dress we wear, the perfume we apply, the mobile we use, the car we drive, the watch we put on,  the house we design etc., We just love to have our things custom designed. Don't we?! That reflects our need for an independent and exclusive identity. That's a thought which is in built from our younger days, I suppose...

That applies to your investments also. There is no "one size fits all" concept in financial planning. Financial planning is all about customization for the each individual based on age, income, savings, family size, goals and priorities. A plan for Mr.X will definitely not suit Mr.Y, unless they are identical in all aspects.

What should you do to a get a customized financial plan for financial future?

You must engage a professional financial planner, like Money Avenues to work out a customized financial plan for your financial future.

@ Money Avenues, what do we do to create a good financial plan?

Assist YOU on formulating your financial goals:

People may have some ideas for long term, but may or may not have financial goals for their future. Our job is to crystallize their thoughts and encourage them to have  long term goals. And all those events like retirement, children's education, children's marriage are certain events to take place sometime in the future. But key is to have S.M.A.R.T (Specific, measurable, achievable, realistic and time bound) goals to be financially successful.


Assist YOU to identify financial priorities:

Setting priorities are as important as setting goals. End of the day, one must prioritize the goals in the order of importance. This again depends vastly between people and a financial plan can be robust only if the financial priorities are considered. For Mr.X retirement can be a priority No.1. For Mr. Y getting his child educated abroad can be a priority No.1.

Identify appropriate investment products for YOU:

Once the goals and priorities are in place, next comes the choice of investment products. This again depends with individual to individual. Like a shirt or a shoe, there is no "one size fits all" products for investors. Products have to be carefully chosen and matched with their profile, savings, goals and priorities.


Create a robust financial plan for YOU:

Once the process is done, then comes the creation of a sound financial plan which is custom made for each individual taking into account his/her goals, priorities, time frame, savings etc., A financial plan is a detailed document which spells out comprehensive investment strategy for your financial future.

Track the plan for YOU:

Any plan is relevant only if it is tracked, monitored and made appropriate changes when required. Remember, we all grow very fast in lives in terms of money, position, dreams, goals etc., What was my priority 5 years back may not be the same now. What is my principal goal 15 years later, might have changed due to circumstances. The role of a financial planner is complete only if he tracks the plan to make it relevant @ all times.

Now you decide...

** Do you need "one size fits all" advice or custom fit investment advice?  

** Can you sit alone, spend time and formulate your goals and priorities, choose products, make a plan and review it as well?


If your answer is no to both the questions, then call the experts @ Money Avenues right away...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Perils of Financial Indecision

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 


Perils of Financial Indecision:

Former Indian Prime Minister P V Narasimha Rao on being criticized indecisive, famously remarked that “Not taking a decision is itself a decision.” Well, for few it makes sense. But when it comes to one's financial future, indecision can be a real peril for various factors. Indecision hurts one very badly in terms of loss of returns, inadequate life cover, late start in planning etc.,

Financial and investing indecision largely happens due to the following reasons:

Having no financial goals:

This is the case with most of us.. We just don't have long term financial goals in life. May be people think they are really far off in one's life. For instance, a survey points out that majority people in the younger age group do not like to think about their work retirement, meaning it's a long term event and need not think about it now. But the fact is that, it's an inevitable event in one's life and people will land up there @ some stage. With the average shelf life of our careers shrinking, we run the risk of retiring early in our lives.

Extremely busy with work:

Another major issue we face these days is that of being extremely busy @ work, which leaves very little time for our personal priorities. Particularly financial planning is something which is missed out during this phase of one's life.

Too many investment choices:

This is a very genuine reason for becoming indecisive. Just don't know which one to choose and which one not to choose while making investment decisions. But life in general has become such. Take the case of mobile phones, cars, TVs etc.. There are just too many to choose from.

"I can do it myself" syndrome:

With the advent of google, there is no dearth of information about anything, in particular on finance and investing. So people tend to do things on their own without realizing the perils of such unfiltered and too much information which eventually leads to indecision. Remember, too much of information also leads to indecision.

Chaotic past investments:

Past investments continue to haunt people, not knowing what to do with them. Investments made over the period leads to this scenario and this causes lot of chaos and leads to indecision.

Not realizing the importance of Power of compounding: 

Power of compounding is a very powerful tool while investing over the long term and it works very silently. And lack of understanding of this leads to indecision on investing. 

Not realizing the danger of inflation:

Not realizing the danger of inflation which eats into our savings and will have a tremendous negative impact on our retirement, children's education and other long term financial goals and plans. 
http://mymoneyavenues.blogspot.com/2011/09/beware-of-sky-rocketing-costs-of.html 



Speak to experts @ Money Avenues for a solid financial plan.

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Create your life's financial rainbow...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

Create your life's financial rainbow:

Rainbow is something wonderful which can be seen but not touched or felt by us. It's sort of an intangible creation by nature. Same is the case with planning our money in our lives. Money can get tangibles and intangibles, and many a time intangibles are long lasting and enduring... Tangibles like gadgets, cars, luxuries do fulfill the aspirations of the want seeking people. But only the intangibles take care most of your needs.


Need Vs Want

The debate of "Need Vs Want" has been evolving over the years.. Some of the wants of yesteryears are the need of the present. For eg., Mobile phones, internet. But a prudent person will focus on the needs of the life first...


The following are the seven rays, which are the essential needs for our future and they form our life's financial rainbow...

• Adequate life insurance cover
• Adequate health insurance cover
• Children's education plan
• Children's future plan
• Retirement plan
• Wealth creation 
• A Financial plan

1. Adequate life insurance:

Human life is precious and more so for the family dependent on him/her. Life insurance is a great tool to quantify the human life's value in financial terms. It is very ideal for one to have a life insurance cover of atleast 5 times of the annual income @ any given time. For eg., if some one has an income of Rs 10 lacs PA, the person should atleast have a cover of Rs 50 lacs which will be a good cover for the family on his/her absence. Remember,
Life's value for insurance purpose = Annual income * 5 times...



2. Adequate health insurance cover:

Health care costs are set to rise in the coming years, due to various factors. Advancement in medical technology, longer life spans, imbalanced life styles are key factors which will adversely impact the health care costs in the future. It's important that the family is well protected for such rises in health care costs. Ensure adequate health insurance cover for self and the family. Do not be dependent only on the cover provided by your organization.During the times of career shifts you will be left with no cover.



3. Children's education plan:

Next in the line is the financial plan for children's education. Education costs are skyrocketing now and they are expected to continue this way in the future as well. This again is contributed by rising ambitions among the children and the cost of such ambitions. It's important to have a financial plan for your children's education.

http://mymoneyavenues.blogspot.com/2011/09/beware-of-sky-rocketing-costs-of.html



4. Children's future plan:

Indian parents' responsibility does not end with children's education alone. It's beyond that.. Though one cannot predict the future social outcomes after 20 years, particularly on marriages, it's fair to assume status quo and plan them accordingly.It's important to have a children future plan.

5. Retirement Plan:

Coming years are going to be extremely challenging for this generation of professionals. Given the fact that the shelf of our working careers are getting shortened, we have very limited time to plan for retirement fund. In short, what we do in terms of financial planning over the next 15 - 20 years(stretched time frame) will determine the financial future for the rest of our life. It's important to have a retirement plan for our financial security.


6. Wealth creation:

Earning wealth is just one part of the story. And we all work really really hard to earn our wealth. It's equally important to put your money to good use. I always believe in the mantra that "You work hard for your money... Let your money work harder for you..."
Make your money earn better returns than what it earns now.. Remember, the world's wealthiest people are the ones who started with few dollars in their wallet.


7. Have a financial plan and a planner:

Our careers are always about challenges. Challenges to meet our targets both on personal and professional fronts. But unfortunately, professional front is immensely hectic, that we miss a lot on our personal front, particularly on the money management. Leave it to a professional financial planner, like Money Avenues and get on with your professional career. 


So what are you waiting for? Go ahead and create a perfect financial rainbow and it will give you a secured financial future.... Even if your life is faced with rainy days, there is a financial rainbow to guard you and your family...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

What's your Personal Financial Happiness Quotient?

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com) 

What's your Personal Financial Happiness Quotient?

We strive to be happy every second, every minute, every hour, every day... Though there are many factors which contribute to such happiness, money plays a vital link in securing one's happy moments.
Numerous studies have equated money with positive impact on our lives. A couple of years ago, researchers found people who dipped their fingers in hot water after counting stacks of cash actually reported feeling less pain than people who dipped their fingers after counting stacks of blank paper. Conversely, the fear of not having enough money seems to be strongly associated with certain negative health consequences.

Money gives you more opportunities and greater freedom; it represents protection against cold and hunger; it allows you to create a comfortable life for your children; literally money makes your mouth water. 

That's the conclusion of a study performed by David Gal, an assistant professor of marketing at Northwestern University's Kellogg School of Management. Gal had undergraduate participants look at various pictures while holding cotton dental rolls in their mouths. When he collected the rolls later and weighed them to see how much saliva they'd absorbed, he found that the students who looked at pictures of money had drooled the most. 

Money can get you happiness in two forms 
Tangibles and intangibles. 

Tangibles are all those things which are bought to enjoy your life like the expensive gadgets, sedan, home, jewelry, other luxuries etc.,

 Intangibles -

Money is not felt this way, right?! It's not there in our backyard tree to be touched and felt every day. Intangibles are your insurance cover, savings, investments etc., Remember, money gets you both tangibles and intangibles in life. But we are more excited with tangibles as we see, touch and feel them every day. But there are many intangibles money get you which are not touched or felt or seen every day. But they are the ones which give you the FINANCIAL FREEDOM AND FINANCIAL SECURITY...


The ideal mix of tangibles and intangibles determine your personal financial happiness quotient...

Many a time we are more excited about tangibles which money get you. But on the other hand intangibles give you the life long financial freedom and security. After all, our earning capacity has a limited shelf life, but we need to live longer and longer with whatever wealth we have created during our prime earning years.
Here are some of the intangibles money get you for your financial freedom:

Adequate Life insurance cover: 

Creation of long term wealth:

Retirement fund:

Children's future:

Remember, our earning shelf life is shrinking by the day.. What we save and invest in the first 25 years of life determines how we live the rest of our life post retirement. The age old adage says, "What we sow is what we reap"...
Have a balanced approach towards tangibles and intangibles to earn higher personal financial happiness quotient.

What you sow is what you reap.. You invest now and be financially happy later...

(The author is the Founder and CEO of Money Avenues, a Wealth Management firm based in Chennai. Feedback can be sent to mailfpc@ yahoo.com)