In order for your plan to be executed successfully, We should start by writing down your financial goals. Whether it's buying a house or saving for an early retirement, be more intentional with it by writing it down.
Now that your financial goals have been written down, it is time to fix the unnecessary leaks so that you can sail smoothly to your destination. Allocate your money in a way where the first priority is to pay any pending debts away immediately.
The next tangible step is to allocate your preferred percentages of funds for the various types of savings you need in your life. For Example, Emergency Funds, Retirement Fund, Mutual Funds.
Shree Consultants have almost two decades of experience in creating a viable Financial Freedom Roadmap for thousands of families all over India. Call us now for a free and personalised consultation just for you.
Contact UsDo a Deep analysis of your Financial Goals. What are your short term ones and what are your long term ones?
Which of these goals are at the top of your hierarchy of priorities and needs and which are the least urgent?
Follow the 50/30/20 rule. Where 50% of your taxed income is spent on bills and rtegular expenses, 30% is spent on your personal desires such as entertainment perhaps and the remaining 20% is saved ofr your investment goals.
First impression is everything in this line of work. You as the client have every right to ask and cross question us as many times as you want. As highly knowledgable consultants , it is our duty to guide and educate you on the financial markets and investments options as much as possible.
We buy into Brands, People and Products because we fall in love with the values it represents. Honesty, Integrity, Positivity and Reliability are values which everyone in Shree Consultants is embedded with since Day one.
Sit down and calculate the amount you will need for yourself and your family when you retire.
The next step is to take as much time as possible to do a surface level of research into what is available for you at the very least. Equip yourself with the basic knowledge.
Allow the fruits of hard and battle-tested experience to be on your side. At Shree consultants it is our sole purpose and mission to lead you safely to your wealth and retirement goals.
Do a self assessment of yourself. Every person is different and have varying reactions to a myriad of different circumstances. Do you react impuolsively or calmly to a shifting high stakes situation ?
Once you understand yourself and your triggers better, you can become more conscious of your reactions.
Whether the market is in a bull phase or a bear phase, you will hear a lot of noise from so called ‘experts’. Rest assured that there were many bear and bull phases in the market and there will be plenty more to come in the future as well. Filter all of the unnecessary noise out.
Decisions which yield long terms success are always based on rational thinking and implementation. Always analyse yourself to see if your decisions are based on emotions or logically based facts.
A return on investment is simply the measure of the profitability of your investment. A simple formula to calculate the above is as follows :
The difference between a good investment option and a bad one comes down to the probability of success and the level of risk involved in the same. The level of risk involved in an investment should be ideally low and bearable. Periodic losses and volatility are a part of investing. However, a good investment option will either hold its value or increase in value over a long period of time.
This is extremely easy to achieve as we are living in an age where educational and informative content has flooded our every day lives. There are digital communities and niche leaders on every social media app from twitter, facebook and youtube. All one has to do is search for what we want and immerse ourselves in the digital community you would like to be in.
For example, anyone can easily sign for the Newsletters of Forbes, Investopedia or even the Financial times.
Hundreds of educational and informational videos are also available at your disposal on youtube.
A general rule of thumb to not fall into debt is to not spend more than you earn. Your roadmap to gaining wealth will be halted if you apply for unnecessary loans or swipe your credit card without an immediate plan to pay it back.
We all have basic needs as humans such as food, shelter and clothing. Create a budget list for the above factors with affordable prices. Do not spend on too much outside of your immediate basic needs.
Saving is indeed a healthy habit. However, it will also be wise to set up an emergency fund. A fund where in the case of an unexpected necessity or tragedy you are not left without protection for yoruself and your needs in that moment.
Life is not a guaranteed commodity. We have to take the necessary steps to be ready for any outcome that life may throw at us. The purpose of a health or Life insurance is to protect us in the case of any unexpected pitfall in life.It is a much more secure option to have the health and lives of your loved one insured.
An subject matter expert can be life saver in our moments of uncertainty. Availing the services of a Financial Lawyer, Accountant or an experienced Financial Consultant just might be the difference between the security of your finances or your assets being compromised.
Phishing is one of the common tactics to compromise your pricy via e-mail links and attachments. It is strongly advised to be extremely cautious before clicking any links or attachments sent to you via e-mail.
Keep changing all of your passwords once in every 6 months. It is advisable to to make iot strong by making it a combination of numbers, upper case and lower case letters, as well as special characters. This will make attempts at hacking it much harder.
It is extremely easy to pinpoint your exact location as long you give permission to your phone to track you. You can prevent this happening by switching off the location tracking on your phone. You will make it harder at a basic level from hackers, social media companies and the government from tracking you by doing the above.
Scamsters will always promise you the world, the moon, the stars, a lot of money, more convenience in exchange for minimal input or nothing at all. Nothing in this world comes free of charge, Hence beware of anyone promising you the above in exchange for almost nothing in return.
Almost every scammer will persuade you heavily or directly force you to take action immediately within minutes or hours of contacting you. They will mostly begin with a scare tactic like your computer has a virus or you bank account has been compromised etc., Please do not fall for this manipulation tactic. You are completely entitled to take as much time in making any decision.
The most obvious insight into knowing that you are interacting with a scammer, is when they will ask for your most private and sensitive data. For example, your bank account password, phone password etc.
To know oneself is the foundation upon which discipline can be built upon. Analyse your strengths and weaknesses, your motivations and triggers, learn more about how you function as a human being psychologically. This knowledge will be priceless in helping you gain more confidence in being disciplined.
Every great achiever, be it man or a woman always wrote down all of their goals which they want to achieve. By writing your goals down, it now becomes more tangible and more importantly you can now measure your progress.
Our attention span is gradually decreasing because of the saturation of content and videos all over social media. It will benefit us immensely if we remove any and every distraction, in order to execute our tasks so we may achieve our goals.
It is not enough to have goals anymore in todays world. We have to make sure we take action and follow through on our intentions to achieve our goals. Writing down your goals or plan registers as a need to complete tasks to your subconscious.
You can only see how far you’ve come if you measure your progress. If your goal is to lose weight then measure your body every week or month. IF your goal is to make more passive income then measure the initiatives you have taken to achieve it.
None of us are perfect robots. Ask your friends and family members to keep you accountable to your goals and most importantly with yourself.
We all need a North star to guide us on our journey. Always keep your end vision in mind no matter what road blocks you atumble across on your path to your goals.
Making investment decisions with an emotionally triggered state of mind can lead to disastrous results. Take deep breaths, relax your mind and look at your investment decisions through the lens of logic.
Write down and specify all of your financial goals. Whether it is to acquire a home, a new car, or save up for your children’s future, writing it down and identifying all of them will bring you more clarity on your financial goals.
Making investment decisions with an emotionally triggered state of mind can lead to disastrous results. Take deep breaths, relax your mind and look at your investment decisions through the lens of logic.
Research the movements of the broader market. Look at the movement in the market for the past 60 days at least.
Once you have done general research on the market, then you should identify the sectors that look the most promising. Such as health care, utilities etc.,
After you have found the sectors that you like, it is now time to narrow down the individual stocks that look the most promising within those sectors.
Before investing in the stocks of a company, it will be wise to do your due diligence on their records. It is recommended to look into each company’s financial statements, earnings, ratings etc.,
After you have completed all of the above and have a list of the most promising stocks, look at each stock’s trendline. Make an assessment whether it is a good time to buy a stock during an uptrend, or buy into a dip if you have reason to believe that it is an anomaly.
Before you choose a property, make sure you analyse the purpose of it. Whether you want to invest in property for your personal stay or let it out for rent etc.,
Location plays a crucial role in property investment. Is it a thriving neighbourhood? is it close to schools, bus stations, and railway stations? Etc., these are the factors that will need to be analysed.
The property type will depend entirely on the purpose of your purchase. Depending on this reason, you can make the choice between the acquisition of land or a flat etc.,
Keeping your budget in mind, the property should first satisfy your needs and requirements without boring a hole into your pockets. You should also keep in mind how much the property cost will grow in the long term with respect to its location. These are the factors to consider along with the property cost.
Since investing in property is an important life decision, it is strongly recommended to do a background research on the property developer. Do they have a credible track record? Are their projects RERA approved? etc.,
Here are some necessary questions to ask and analyse before investing in any company :
To fight for financial rights, it is essential to educate ourselves on the same. Right to know commission paid - You have the right to know how much your fund distributor or insurance agent earns from the financial products sold to you
Right to return insurance policy - You don’t have to retain a life insurance policy you don’t want. You have the right to return it within 15 days of receiving the policy documents. This Free Look Period applies to all life insurance policies and health insurance policies with a term of 3 years and more.
Right not to be harassed by lenders - Even if you have defaulted on a loan, you have the right to be treated with respect by the lender and recovery agents. The lender has to give you a 60-day notice first. You can present your case to authorised officers during this period. The lender cannot harass you during this time and can only call you between 7 am and 7 pm. If you are harassed, approach the bank. They will have to investigate the matter. You can even file an FIR.
You have the right to not pay for card frauds - You have the right to not pay for unauthorised transactions on your debit or credit card as long as you can prove that the transactions were not carried out by you. Report an unauthorised transaction immediately to the issuing bank. You can also get your card blocked to prevent further misuse. Filing an FIR is an option. Most cards come with a zero-liability feature that protects the cardholder from fraud.
You have a right to a life insurance claim - An Irdai directive gives you the right to claim the proceeds of a life insurance policy that has completed 3 years. There are no exceptions to this rule. The insurance company has this 3-year window to verify the authenticity of the policyholder, after which the claims have to be settled. This ruling also applies in case a policyholder expires within the first 3 years, but the claim is made after 3 years.
You have a right to get a tax refund in 90 days - You have the right to receive your income tax refund within 90 days of filing your tax return. If your refund is delayed beyond this period, you will also receive an interest of 0.5% every month on the refund amount. Since the tax refund is on excess TDS, you are entitled to get it back after you file your returns. You will get interested even if the refund was delayed because your tax return was revised. If you do not receive the refund within 90 days, you can approach the income tax assessing officer in your jurisdiction or raise a request on the tax department’s website.
You have the right to possession of the property on time - When you buy property, you also earn the right to its possession within the stipulated time. If the project is delayed, the developer is legally bound to pay you the same interest as the EMI you pay on your home loan. You can also seek a refund of the entire amount paid by you. The builder has to refund the money within 45 days of the request. For any issues concerning delayed possession, you should contact the Real Estate Regulatory Authority of your state. These authorities are required to settle your complaint in 60 days.
You have the rights to locker facilities - You don’t have to have a savings account or any other association with a bank to open a locker. It can ask you to only open a fixed deposit that covers 3 years’ rent and charges for using its locker facility. You cannot be asked to invest in any of its products. You have the right to not pay a service charge - If you are dissatisfied with the service provided at a restaurant, you have the right not to pay the service charge that is included in your bill. Unlike service tax or VAT, service charge is not a government levy and goes directly into the pockets of the restaurant. This makes it a voluntary payment. If a restaurant forces you to pay a service charge, you should approach the Department of Consumer Affairs and lodge a formal complaint.
You have the right to know about fund mandate change -You have the right to be notified about a permanent change in the investment mandate of a mutual fund you have invested in. Investors have the right to exit a scheme without paying the exit load before the changes are enforced.
From a general and broad perspective, there are four types of risks involved in most financial products.
There are many different factors to consider for measuring your risk appetite. Some of the important factors are as follows :
Various studies have shown that, children form habits around money by the time they are seven years old. They primarily learn by observing their elders in the environment. Lead by example, by living your teachings.
Pay your children money for doing chores and heavy duty work around the house. Make them understand that money only comes after the hard work has been put in to earn it properly.
There is no better education to give your children than the benefits of saving money and the results of all of it compounding.
In todays day and age where costs are rising, but the average wages are not rising, medical debts can become a major consequence of the above circumstance.
The best fail-safe strategy for avoiding medical debt is to purchase a Medical Insurance for yourself, your family and all of your loved ones.
Most statements start with the following summary :
In order to maintain investment documents, it is important to know a general list of documents that align with the same. Some of the important documentents and details to acquire and maintain are your PAN Card, Passport, Telephone & electricity Bill, Bank Account & Bank Statement, KYC, ITR Documents, Any Insurance Documents etc.
A Financially competent person will know when to take the best calculated investment decision and also when to exit it in the right way as well.
The best practise to implement in order to know when to move out of an investment is to hire an expert. Shree consultants have been in charge of investments worth more than $500Million Dollars for almost two decades till date. We have the best experienced and competent knowledge leaders in the market at present and all of us will be more than happy to serve you an guide you carefully to achieve all of your financial goals.
A need can be classified as something that is essential for survival in life. For Example, Food, Water, Shelter.
A want can be classified as something which is not essential for survival in life, but are just desires to increase the quality of life.
The way of validating any builder is to research all of the properties they have built so far. You can find this on their website. Alternatively, you can log into your respective state’s RERA website and check their list of approved projects.
What can be a deterrent to buying or selling a property is an unrealistic price of the property. It is everyones responsibility to research the market, srea and neighbourhood and set a reasonable price to their price.
Analysing whether a property has any overdue debts to its mortgage can be a crucial factor in buying or selling of properties.
Shree Consultants have successfully facilitated the purchase and sale of every property in our portfolio. We will more than happy to facilitate the same for you as well.
The primary method of legally securing your Land is through a notarized Sale Deed of the property
Investing in India, like investing in any other country, requires adherence to certain legal norms and regulations. Here are some tips to ensure you stay legally compliant while investing in India:
Remember, these are general guidelines and the specifics may vary depending on the details of your situation. Always seek professional advice when investing in a new jurisdiction.
Understanding the fine print in any investment is crucial to make informed decisions and mitigate risks. Here are some steps to help you understand the fine print in investment documents in India:
Remember, investing involves inherent risks, and understanding the fine print is essential to protect your interests. Take your time, be diligent, and seek expert advice when needed to ensure you make informed investment decisions in India or any other country.
