Financial planning : Do it Yourself

Click here to load reader

Embed Size (px)

description

A self guide towards financial planning. We ourselves can manage our finances, so here comes phase-1 describing about few topics. Stay tuned for the remaining topics in phase-2.

Transcript of Financial planning : Do it Yourself

  • Powered By: Ready Bytes Software Labs Pvt. Ltd. (INDIA) Planning Financial Do It Yourself PHASE - 1 of 2
  • BIO Ankit Mathur (Software Engineer at Ready Bytes Software Labs Pvt. Ltd.) In for you at: Financial Planning
  • DISCLAIMER With the prior permission of the author Mr. Manish Chauhan, contents of his book How To Be Your Own Financial Planner in 10 Steps are included / used / referenced in this presentation. So, this presentation doesnt violate rules of Copyrights Act as mentioned in the book by the author himself. Also, by any means this presentation isnt meant to harm anyones sentiments, financial policies or any other term/field of financial sector. Unconditional apologies. Financial Planning
  • Sorry, but initially i want you to think a little.. Things will be easier later on, Financial Planning
  • Extreme Concentration NEEDED, For Next 3 Points Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • 1. It is a TOUGH TASK 2. Difficult to Understand 3. NEVER Do It SELF Financial Planning
  • Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • If you take Financial Planning as: Centralized with money, EXCEPT THIS Practical Decision System, Emotionless Decision Making Power and, Quick Money Making System Financial Planning
  • Chapter 1 of 5 Ease Yourself Lets Build a Thought Process Now Financial Planning
  • Few Terms First.. (Slide 1/2) Surrender Value (term 1/3): It is the worth of Life Insurance Policy at a given point of time. It is the amount you get when you surrender the policy before maturity. Paid up Policy (term 2/3): It means you to not fill premiums any more. If you dont want to surrender policy and also dont want to give premiums, then make it a paid up policy. It can be done only if you filled some previous premiums. Financial Planning
  • Few Terms First.. (Slide 2/2) Bonus (term 3/3): Many traditional policies announce yearly bonus which keeps on accumulating and given to you at the end of maturity. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) Preliminary Thought Dont fool others by saying: i dont take Life policies for investments its ONLY becoz I want my family security Financial Planning
  • Optimizing LIPs (Life Insurance Policies) Preliminary Thought Dont fool others by saying: i dont take Life policies for investments its ONLY becoz I want my family security Financial Planning
  • Optimizing LIPs (Life Insurance Policies) Preliminary Thought Dont fool others by saying: i dont take Life policies for investments its ONLY becoz I want my family security Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (this is not advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (this is not advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (this is not advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (this is not advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (this is not advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • Optimizing LIPs (Life Insurance Policies) 1. Dont go for many no. of Life Insurance Policies ADVANTAGES YOU ASK ? Manage less no. Of policies Keep less documents BIGGEST ADVANTAGE COMES NOW: o If death kisses you someday (which is not an advantage) .. Your family should not face hardships in claiming from all those many policies.. Financial Planning
  • 1-2 Life Insurance Policies equivalent to 10-20 Focus on life cover amount, not on number of policies Clean Life Insurance Portfolio Stop low maturity value policies Stop filling premiums for them Trust me, its not a loss Its a step towards profit in Life cover Take term plans and LIP. THATS IT. Divide the premium for term and LIP Trust me, its not a loss Its a step towards profit Financial Planning
  • 1-2 Life Insurance Policies equivalent to 10-20 Focus on life cover amount, not on number of policies Clean Life Insurance Portfolio Stop low maturity value policies Stop filling premiums for them Trust me, its not a loss Its a step towards profit in Life cover Take term plans and LIP. THATS IT. Divide the premium for term and LIP Trust me, its not a loss Its a step towards profit Financial Planning
  • 1-2 Life Insurance Policies equivalent to 10-20 Focus on life cover amount, not on number of policies Clean Life Insurance Portfolio Stop low maturity value policies Stop filling premiums for them Trust me, its not a loss Its a step towards profit in Life cover Take term plans and LIP. THATS IT. Divide the premium for term and LIP Trust me, its not a loss Its a step towards profit Fina