7 Easy Steps For Today’s Working Women To Rock The Financial Trope

Gone are the days when it was a man’s world. Women today are the veritable master of the game and know how to handle their portfolio, be it on Twitter or their money. 

Modern working women claim and deserve gender equality. Working women do not appreciate the differentiated treatment accorded to them when it comes to taking financial or any other decisions.

Aspirations and objectives of working women do not differ from those of their male counterparts. Hence, the integral precepts of the economic system do not discriminate between men and women. Future financial goals–funding the higher education and wedding of offspring, purchasing a residence and a vehicle, going for overseas vacations, and planning for retirement–are commonplace for both genders.

Maintaining a specific model of livelihood becomes requisite.

Let us now consider some key decisions which all working women must draw to assure that they enjoy financial well-being.

  • Protection Cover  

First, if there are household members dependent on them, they must ensure that they have adequate coverage in terms of impairment and life insurance. It is prerequisite to safeguard the family members just in the case of an event where the earning female member becomes incapacitated or impaired because of any disease or mishap, etc. The thumb rule here is that she must have a life insurance policy and overall disability plan coverage equivalent to ten times her annual revenue.

For Example: If a woman is earning Rs 10 lakh per annum, then she must have a life and disability insurance cover of Rs 1 crore to ensure that family members feel protected in case of any unfortunate eventuality.

  •   Retirement Planning

Apart from providing stability to family members, working women have to plan for their retirement needs well in advance. Please remember, it is not typical for all working women to retire at 60. Retirement will depend upon their profession. Sportswomen, Air Hostesses and Celebrities do not have a long working span. Hence, they require carrying out an individual strategy for premature retirement and ensure that they can live for the rest of their lives by accumulating a corpus and by investing in various asset classes: equity, debt, and real estate, etc.

  • Gold

Women have a particular affinity for Gold. The thumb rule for investing in Gold is that it should account for over 10 percent of their entire financial portfolio, either in the form of physical gold (ornaments etc.) or paper Gold (Gold mutual funds or Gold ETFs & Sovereign Gold bonds, etc.).

  • Asset Allocation

All working women must have some exposure to equity mutual funds through Systematic Investment Plans (SIPs) for generating long-term wealth. They too need this for attaining financial targets such as education/marriage of their children or retirement, The thumb rule of asset allocation is that 100 minus the age should be the percentage allocation to equity mutual funds; 10 percent should be in the Gold, and the balance should be in debt instruments such as PPF, EPF, Bank FD, and Bonds.

To sum up, all working women’s financial portfolios must include 3-4 mutual fund SIPs equal to 20 percent of their monthly income, regular contributions to the Public Provident Fund, and NPS account for ensuring retirement planning. Regular pension for life, besides having adequate health insurance and Life/disability insurance is also essential.

  • Documenting the Financial Plan

It is also important to mention here that all working women must get a financial plan made as a document, and they must implement it and keep rebalancing their portfolio by reviewing it at the half-yearly interval.

  • Making the Will

They must ensure that they make a proper ‘Will’ and it distributes their total investments in the proportion desired by them. It should be done much early in their life and must be shared with close family members for easily claiming investments in the eventuality of sad demise.

  • Limiting expenditure.

Working women must ensure that they learn to limit their expenses within their income levels and not resort to debts, loans or excessive credit card spends at any point of time. Stretching your expenses beyond your limit can lead to financial stress and compromise your future comforts.

Hence, it becomes imperative for working women to be in control of their finances, to stay fiscally disciplined, and to remain well-planned.

Thanks and Regards.

Anuj Surana

Restrict Your Fancy Unaffordable Desires!

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Originally Posted On Candles Online

Source: Google pictures

  • A group of college going girls involved in flesh trade to support / sport a lavish lifestyle.

  • A techie commits suicide as he was unable to cope up with the pressure of credit card bills.

  • Gang involved in card frauds, ATM thefts busted, revealed it was an attempt to make a quick buck.

And the matter of irony is more educated the person is more deeply he or she is getting involved in this trap of taking the wrong route. I really wonder what purpose education is really serving here.

These examples may not be some recent news but definitely something we come across quite often nowadays. A bitter and harsh reality, strong enough to make us experience Depression and question “WHY?”

Reason is simple :  Our inability to find satiation and curb our “Un”wanted desires. Our incompetence in restricting our…

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Happy Father’s Day

पापा को शब्दो में बांधना समुंद्र को अंजलि में भरने समान है मेरे पिता का जीवन, प्रेरणा और दृढ़ निश्चय का स्तोत्र महान है चश्मे के पीछे उनकी वो आंखें बड़ी भोली भाली थी और व्यक्तित्व कि गहराई, कपट से बिल्कुल खाली थी आत्मा और सोच से बोहोत उजले और तन के सांवले थे सबको खुद सा अच्छा सच्चा समझते थे, कैसे बावले थे सरल आचरण, अखंड गुण और साधारण जीवन शैली थी उनकी प्रतिभा और गरिमा की गाथा दूर-दूर तक फैली थी उनके जीवन में बोहोत दुख, बोहोत कष्ट थे आशावादी थे, और इरादों के बिल्कुल स्पष्ट थे मेरे लिए तो वही आदि, वहीं अंत, वही अनंत थे मन, कर्म, वचन, धर्म से मानो कोई साधु संत थे तीखा पसंद था, समोसे बोहोत भाते थे Diabetes थी ना, मीठा कम ही खाते थे प्रभु भक्ति और काम में बराबर विलीन थे मूझपर वात्सल्य की वर्षा करते समय असीम थे मानवता, दया और सहानभूति का उच्च उदाहरण थे उनसा नहीं कोई पुत्र, पति और पिता, वो असाधारण थे उनके बारे में मैं जितना भी लिख डालू वो कम है और आज भी उनकी स्मृतियों से मेरी आंखें नम है बड़े मीठे, सुहाने, प्यारे प्यारे नामों से पुकारते थे वो मुझे और कभी कभी तो बस बैठे बैठे यूहीं निहारते थे वो मुझे जाते जाते वो मुझे विरासत में अपना सब कुछ दे गए पर अपने साथ वो मेरे अस्तित्व का एक टुकड़ा ले गए

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What Is Pure Devotion?

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b68c6d32a718b42dbdc366354025df1e

A story quite fresh in my mind (but the source where I got it from is quite vague in my mind, probably I heard it during school days and most probably a parable but has a deep impactful meaning). The Story goes like this:

Once Naarada asks Naarayana (Shri Vishnu Bhagwan) “Hey Lord, who is your most devoted devotee on the Earth?”

To this Lord Vishnu showed a poor farmer on the Earth and asked Naarada Muni to look at one day of his life and get back to him.

Naarada Muni, as ordered by Lord Vishnu went to him but a little bit confused. Lord Vishnu was with his blissful appearance and with a smile greeted Naarada Muni “so what did you find? Did you get to know why he is the most devoted devotee?”

To this Naarada Muni said “Dear Lord, I watched him an entire day, not…

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WHAT DREAMS MAY COME

Candles Online

I heard the calm sea even before I tasted it. Yes, I relished the moist, dense, salted air with mouthfuls of breaths. And there was that smell, that raw, seaweed aroma that brought with it another kind of scent; a scent too familiar, too nostalgic—the fragrance of my fathers’ heady cologne.

I opened my eyes; a seven-year-old me was holding my father’s hand, the ankles of his trousers rolled up to his calves as he held my hand while I pulled him towards the sea. I laughed as the waves rolled under my feet, and the soft sand slipped, squishing between my toes, creating an illusion of the moving Earth.

Papa laughed along and picked me in his arms, taking me back to the resort, where the Flamingos strolled around the lagoon. I look at him and sulk, making a pout he adored.

You have been gone so long…

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Just Homo Sapiens Not Human Anymore

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It was an Elephant then , now it’s a cow. Species changed not their fate. Two different states (Kerala and Himachal Pradesh), two expecting mothers (motherhood holds the same importance for any creature) met the same fate – fed with food (few saying “ate”) laced with fire crackers.

Injured severely, bleeding profusely, loitering around in agony, the elephant succumbed to its injury where as the cow received the treatment (hopefully doing better now). And their only mistake is that they crossed the boundaries in search of food, something we consider among the basic requirements, isn’t it? The Elephant inadvertently came to the habitat of people and the Cow disrespected the neighbour’s boundary. And what did they expect, they won’t be taught a lesson? How ignorant they were.

When I read the story of a pregnant cow severely injured because of firecrackers , an agonized me thought of penning down my…

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AND SHE MET HER ONCE AGAIN

Candles Online

PROMPT: Standing in front of the mirror she didn’t like what she saw…

door-opening (Image Credit – Google Inc.)

Standing in front of the mirror she didn’t like what she saw. It’s not her. The reflection was only a mirage of her presence but the zealous, free-spirited girl was lost.

He just kept imposing boundaries caging her while she kept compromising her independence for her love for him.

Is it love or bondage?” she asks herself yet always reluctant to give up. While pondering about it the doorbell rang. When she opened it she found a beautiful woman smiling at her and asked “are you ready to come with me and take a freedom march?” She seemed familiar, she rubbed her eyes to take an attentive look at the woman and was stunned – it was her only!

And before she could stretch out her hand to reach the…

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Parenting – No Kidding

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Originally posted on Candles Online

Source: Pexels

As a parent what is our constant wish and effort – nothing but to give the best to our children. Isn’t it? Be it the opportunities or the materialistic things at their disposal, we as parents never leave any stone unturned to provide our kids with nothing short of best even if we have to go an extra mile. That makes me ponder “Is providing of provisions enough to make us good parents?” Well in my quest I stumbled upon an example from the mythological story of Mahabharat:

Duryodhan (the eldest Kaurava), son of Dhritarashtra had everything at his disposal – loving parents, strength of 99 brothers, “Never Say No” best friend like Karna yet his greed led to his downfall and demise. Though his greed and jealousy were given flames by his ever conspiring maternal uncle Shakuni but it is an offshoot…

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MEMORY GAME – III

Candles Online

Dr. Rajan didn’t allow her to speak anymore and when she was a bit stable, he drove her home himself.

After sometime, at home, Neha was lying on her bed, in her bedroom pretending to be asleep. Her family surrounded her, asking Rajan about her health, her well being and yet she was pretending to be asleep. She was not ready to say she was fine, not yet.

Rajan reassured his concerned family and ushered everybody out, to let Neha rest a while. They filed out one by one, her Grand Mother-in-Law, Mother-in-Law, Father-in-Law and Sister-in-Law who carried her 18-month-old nephew, Neeraj with her.

Rajan was the only one left behind, he kissed her forehead and whispered in her ear, “Sleep, I have important surgery scheduled, I will be back soon.” with these words he left the room after closing the lights and shutting her door.

A couple…

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LOCKDOWN HAS ACTUALLY OPENED UP US – WHAT SAY?

Candles Online

From March 16 to April 3, 2020 Belgium is under lockdown. And now extended till 19th April which will be reviewed at the end of the period bringing the lockdown period to 5 weeks in total.  First reaction “Oh crap! Oh China what have you gifted to the world! My kids losing out on school and vacations.  Kids at home + Husband working from home = more hours in kitchen with additional cups of tea. Headaches, panic attacks concerning how things would shape up, constant fear for the family here and overseas are definite bonuses of this quarantine period and pandemic Coronavirus.  And it’s a same picture everywhere irrespective of the country we live in.

But gloom brings negativity, so thought of wearing those witty glasses on to just lighten up the mood and since everything thing under the sun has a flip side so does this quarantine period.  Why…

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