PANDEMIC 1

The fluid situation is giving a golden opportunity to discuss and review our action or execution.

The major blow to society, many of our near dear lost their lives, which is not just limited to loss of bread earner.

In many cases, both parents are no more.

Recently it is published in leading daily that GoI is releasing the SOP for the adoption process as it will be less cumbersome than the existing one.

This is of very high priority as many kids have lost their parents.

They need new parents for their future.

It is needed one along with some regular income for those who lost bread earner of the family.

It is for those who have lost their near and dear ones.

But what's for us to rethink the strategy hare, as the continued lockdown has created a situation where everyone is getting a blow in the earnings.

What if the present condition prevails for a long time. Definitely, we will come to survival mode

Already lot many have started thinking or started to look for alternatives for survival.

Here we are not saying fittest to survive. But the basic question is what if, the present situation prevails for a long time.

Already we are doing some research on same.

Here, we are suggesting you look, the first nominee in every product, liquid or illiquid.

Indians are emotional on these issues.

But if we revisit this part, we will save lots of time for our next generation as all the tangible and intangible wealth is to be transferred to them.

Make a list of all these and keep it within the reach of your family so that they know all the assets you created.

Make sure it will be discussed with the family once a year.

As we mentioned many things in previous blogs for portfolios and others, we are not going to repeat it here.

But the major point for us is one where you will have all the income coming through different avenues.

This is not about making lots of investments that will assure an instant or one-time tax benefit.

Yes, we know.

Many investments will make your money bigger than it used to be.

But one needs to evaluate as we can only make some money by investing through investments as we will have no interest in the capital.

But if you are earning income in another way like services like research, jobs, sales, trips, taking loans, working for others.

All the income can be pooled together. It can be put to better use for a greater cause.

So, make sure you know all your income comes from all sources.