NEW NORMAL

Now day we are listening a word new normal  regularly. What is this, what is going to change from our recent past, how will be future.

There will be changes which will be more in behavioral  nature.If we look our routine in recent time just prior to lock down  we took every aspect of financial planning on toss. Now we are realizing that we are more vulnerable than ever. Whatever we planned  needs to be revisited. Also nature of modern warfare which will be more in biochemical  form.Going forward we will see more mature behavior from all of us.

Here is one simple learning that  we have to take all our financial planning more seriously.Planning should be long term. Also our protection be it life or health ,  have to take adequate cover so that all our precious resource should be conserved.

When ever we will plan , following points should be considered :


  1. Diversify  portfolio .
  2. Retirement planning
  3. Contingency planning
  4. Asset light 
  5. Asset creation without changing our actual plan
  6. Hire a competent advisor
  7. Keep goal in mind always 
  8. If possible write  will for clarity.
  9. Tax saving is not our goal
  10. Comply with law.
  11. Child Planning


All above points which we discussed, now  will be part of our planning.
One point  we learnt from lock down that going forward if situation like this arises we will be normal. Think seriously and do the needful for your bright future.



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