-- Posted Wednesday, 11 September 2013 | | Disqus
Financial planning for Indians – Introductory note for a new series
Most Urban Indians are least bothered over their physical well being. There is lack of exercise in our daily lives and our diet is not suited to our lives. They just trudge along. Due to ever rising prices of fruits, vegetables, milk and milk products, most of us have cut down on their daily fruit intake. This has lowered the immunity power, reduced sex drive, and also in some cases cause behavioral changes. In the end the average annual medical expenses of urban Indians are on the rise. To me before I talk about ways to invest our savings and increase returns, health investment for all ages is the key. There is a misconception in India that only rich people are able to stay healthy due to money power. For example, one need not spend over Rs.1500 a month to go to a health club. There are a lot of free yoga centers where one can learn yoga exercises and do it daily in our homes and remain fit. “Will power” is the key remain fit. There are a lot of low cost sources to remain fit. As far dietary needs are concerned, people like me are caffeine obsessed and I have drastically cut down on my daily caffeine and other junk food to remain healthy. A proper diet based on one’s health will go a long way in increasing immunity and less chances of standing in long queues of doctor.
Just remember that the human body is a machine. Bad lifestyle will not result in overnight diseases. It will result in us getting us caught in old age diseases such as diabetic, heart troubles, joint pain etc, at much early age than average age. These diseases (if contracted) can result in years of savings and investment getting zero in a few years.
It is your choice invest in health now (by giving around an hour daily to physical fitness) or pay everything to the doctors, medical companies and hospitals at a higher age. We urban Indians think that weekend is for sleep. Even I think so, especially after sitting on a PC screen for over twelve hours daily for five days a week. All I say to myself and everyone reading this article is that the sun shines every day, what will happen if the sun takes a weekend break. The earth will be in turmoil. For exercises and diet, there should never be any weekend break; we will only disturb our physical health like mother earth.
Last but not the least, start taking a proper medical insurance and increase the premiums if you have a higher savings. To me a family of four should have a group medical insurance cover of around Rs.10 lac (ideally) if any of the family member is over forty years of age. The overall treatment costs of major illness are on the rise and this is one the reason for me advising for medical insurance for around Rs.10 lac
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There is still skepticism whether the Russia proposal will be accepted. Syria is ready to accept the Russian proposal of giving chemical weapons to UN inspectors. But I have my doubts whether the US will accept its cold war foe Russia’s proposal. To me the US is just buying time and nothing else. Obama has said of a possible air strike without the use of land forces. We just need to wait and watch. In the absence of major market moving news it will be a technical trade. Copper will remain firm. Indian demand for gold and silver will rise today. The gold premium in India will rise and under the table gold selling will also increase.
Disclaimer: Any opinions as to the commentary, market information, and future direction of prices of specific currencies, metals and commodities reflect the views of the individual analyst, In no event shall Insignia Consultants or its employees have any liability for any losses incurred in connection with any decision made, action or inaction taken by any party in reliance upon the information provided in this material; or in any delays, inaccuracies, errors in, or omissions of Information. Nothing in this article is, or should be construed as, investment advice. Prepared by Manan Somani
Disclosure: Insignia consultants or it employees do not have any trading positions on the trading strategies mentioned above. Our clients do have positions on the trading strategies mentioned in the above report.
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NOTES TO THE ABOVE REPORT
PLEASE NOTE: HOLDS MEANS HOLDS ON DAILY CLOSING BASIS
PLEASE USE APPROPRIATE STOP LOSSES ON INTRA DAY TRADES TO LIMIT LOSSES.
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-- Posted Wednesday, 11 September 2013 | Digg This Article
| Source: GoldSeek.com
