i S.M.A.R.T 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) 



iS.M.A.R.T financial plan:

Life is all about planning and execution. And invest in a S.M.A.R.T way... the iS.M.A.R.T way...

Specific.Measurable.Achievable.Realistic.Time bound way...

Financial planning and wealth creation needs a proper planning if one has to aspire for a meaningful financial future. And remember, what you earn is just one part. The other major part is about making money out of your earning. And that needs a structured planning. Our earning life is also shrinking, as many aspire to take a break early in life or choose to do something on their own. Gone are the days of work life uptil 60 or more. 

Go the i S.M.A.R.T way of financial planning...

Remember, personal investing is not about "one size fits all"concept. It's about individual's profile, family and goals for future. And they vary with each individual. Typical like our size and style of clothing. But one thing is common, that every one has goals for the future.
Money Avenues assists individuals on making a personalized financial plan through i S.M.A.R.T

The plan follows the following benchmarks -

Specific: 

Plan should have a specific direction for the individual. That begins with identification of specific goals one should aim for... It can be children education or one's retirement. But the key is to be very specific on goals and the plan. Money Avenues assists you identify the specific goals and plan.


Measurable:

 

Plan should be measurable and quantifiable in numbers. How much do I need for my retirement?

How much do I need for my children education?

Achievable:

The plan should be achievable in terms of goals and objectives. Remember, plan is being prepared for achieving financial goals and will not serve as a mere document.

Realistic:

Financial planning should be realistic in terms fixing financial goals and creating wealth. If someone wants to plan for his children education/ for retirement within a short span of time may sound unrealistic. Plan must be realistic for achieving goals and objectives.


Time bound:

Any financial plan should be time bound. 

For eg., 

I want to plan for children education after 15 years.
I want to plan for my retirement after 20 years.


That becomes key for a successful financial plan...


Speak to Money Avenues Expert to have your iS.M.A.R.T. financial plan for a secure financial future. Our endeavor is to provide a credible and structured financial plan for your financial success.


(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) 

The Power of NOW...

(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) 


The power of NOW...

Philosophy of life is quite simple: What was sown yesterday made us what we are now; what will be sown now will make us what we are tomorrow... That's the law of nature.


Same applies to our financial future as well. What we sow now will be reaped by us in future. Listen to what the self made billionaire Warren Buffett had to say about himself in a gist...

In essence, he reaped what he had sown in his younger years and wealth is not created overnight. We should approach the wealth creation and financial planning in the same way as taught by the masters of the subject.


Mother nature gives us great lessons for our lives. For eg., cultivation has a defined time line right from sowing to reaping and the process of cannot be hastened or prolonged beyond a point. Wealth creation is something very similar and money grows with time if planned abd invested properly.

The realize the power of NOW -


1. Ensure lifelong insurance cover:

Life insurance is a great tool to provide financial security to you and to your family in your absence. Have a cover equivalent to 5 times of your annual income @ any given point of time. If your annual salary is Rs 20 lacs, have a cover of 1 crore, it's as simple as that. It's important to raise this cover proportionately with the rising income. It's important to take a cover NOW...

2. Goals and priorities:

Figure out your financial goals and financial priorities NOW... Because goal less life is like a directionless ship in the ocean. Once the goals are frozen, prioritize them based on the financial parameters. But the key is to get them on your table NOW...


3. Manage money:

We all work really hard for our money. And it's only fair to expect the money to work hard for us... Don't leave your money in a bank A/c @ 3.5% and that will be a grave injustice you are doing for yourself. Make your money work hard for you by putting it in the right investment avenues. And do it NOW...

4. Create long term wealth: 

Key is to create long term wealth for fulfilling your goals and aspirations. Billionaires created wealth with few dollars in their wallet. Your income is one part, but what you earn from that income is another important part. All your goals and priorities are tied to wealth creation. Do take effective steps to create wealth NOW...

5. Realize the peril of inflation:

Inflation is a monster which is going to eat our savings and reduce our money to a worthless paper. And remember, all our goals are directly impacted by inflation. Be it children's education or retirement, inflation will have a huge impact on them. Key is to tame the inflation by intelligent investing. And do it NOW...


6. Realize the importance of power of compounding:

Power of compounding works very silently to one's advantage. Its a great tool to fight inflation over the longer term. If one can really multiply money multifold, it can be done only through this method. Realize the importance of power of compounding NOW...


7. Have a financial plan:

It's highly improbable to expect people who are busy in their jobs and careers to manage the money very effectively. So engage a financial planner, like Money Avenues, which will guide you to a great financial plan and also keep a track of it on a regular basis. After all managing money is not for which you are being paid. Outsource the job to a specialist. And do it NOW...


Sow the seeds now and reap the benefits 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) 

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)