Traditionally Indian bread winner is the male head of the family, who also takes the key decision on each and every family matter including money matters. The industriousness, financial expertise coupled with business wisdom, of that family head who is in charge decided the family fortune of that house. A wrong financial or a wrong key business decision would bring the whole family to brink of poverty. But now with the migration of families to new places for career opportunities, new paradigm shifts have led to nuclear families. Small nuclear families have to manage their own money and taking the entire bouquet of wealth management and also brick bats of risks associated with personal wealth creation.
And it is these days people are quite well educated, some are very highly literate, some very talented so money making avenues have grown. With this the personal wealth creation seems obviously simple goal to achieve. Yet often most people do not reach this goal.
What is worst thing one can do with one’s hard earned money is to let it lie deposited in bank and getting nothing but interest & paying tax on that interest. And letting inflation eat the deposit/savings year after year. Research suggest that “ Most often a investor do not venture into any kind of money management decision or investing decision, more so due of lack of practical financial knowledge than anything else.” But all this has to change to reach the coveted, yet self satisfying goal of personal wealth creation. One must have relevant financial knowledge & also understand nuances of practical finance to create a wealth of life time.
Through these posts we will draw on systematic, chronological, knowledgeable, informative guide on money management, investment and financial health of an investor. This Wealth creation journeys starts right from basic knowledge to finer points of complete practical finance. We will have well defined agenda & goal oriented approach while being on this path.
1. What does investment mean? What is financial health?
2. Asset allocation-Understanding it in detail.
3. Planning the finances and Investments.
4. Infrastructure needed and available to an investor to invest wisely?
5. What is financial market? Types of financial Market?
6. Stock market Investing, trading, mental make-up.
7. What is money management & its, rules? How to apply money management rules?
8. Difference between gambling and speculation.
9. Planning of investments. How to create your portfolio?
10. Taxation & Estate Planning.
11. Fundamental analysis or Technical analysis
12. General wrap up for successful investing.
A good wealth creation strategy by itself does not ensure success. Success depends on how it is implemented!
Financial Consultant and Technical Analyst