Financial Well Being

On 17th and 21st May I conducted sessions on Financial Well Being for the Retirees of Ashok Leuyland Limited. This is regular feature where I brief them on the need for Financial Planning for Retirement and after. I also give them inputs on Portfolio structuring and wealth maximization with safety. I generally suggest a mix of Mutual Funds and Government Bonds/Post Office Savings.

One thing that constantly surprises me is the way those about to retire would willingly "invest" their funds with brokers who suggest intra-day trading while totally resist investment in Systematic Investment Plans in Diversified Mutual Funds as risky!

Another suggestion I give to them is to buy 24 carat Gold coins or invst in a Gold ETF rather than buy ornamental gold. This usually finds resistance among women. But during the session on 17th, my suggeation was supported and vindicated by one of the participants, Mr. V who stated that he had consistyently bought 24 carat Gold coins instead of ornamental gold. He sold the coins at the timew of his I daughter's marriage and made huge gains which he used not only to buy ornaments but also meet the marriage expenses. He has started doing the samre thing for his II daughter's marriage too. His only regret is that he had not bought more 24 Carat gold coins!