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Day-to-day life situations
Harish was very happy in February when he switched his job but got worried in July when he had to pay
extra income tax before filing his return last year.
Juhi lost her father, one of the leading and renowned advocates in the country, last year. But she did
not know that distribution of his estate as per his Will is not going to be easy.
Budgeting is the foundation of your financial security and includes making allocations of your income towards
expenses and savings, managing liabilities and planning for a linear growth of your assets and investments.
Income tax
Tax-planning, Tax-compliances and Tax-records management are the three pillars of personal income tax. Your
financial security can be maximized only by giving equal importance to all these three elements.
Succession
Managing and securing your assets during your life-time is crucial for your financial security; while
managing beyond your life-time is crucial for your family’s financial security.
Assurance
Banking and online shopping on the go is bliss, but ignorance of adequate safeguards for your digital assets
is definitely not bliss. Management of financial documents needs to be up-to-date to maximize your and your
family’s financial security.
Liabilities
Liabilities impact your financial security in two ways – regular repayment of liabilities reduces the money
available at hand and outstanding liabilities reduces the net value of your assets and investments.
Risk Management
Loss of life is a big risk, but that’s not the only risk to your financial security. Identification and
mitigation of various risks (whether by insurance or otherwise) is very important for maximization of your
financial security.
Investment tracking and review
Investing money is an important first step but without continuous monitoring and review, even the best of
investments may fail. Striking the right balance in diversification is the key to managing your investments
and financial security.