Personal Finance
4 pillars
Protection
Adequate life insurance (To ensure your dependants don't struggle in your absence), Health & accident insurance (To ensure the expenses don't cause a financial strain & portfolio drawdown). Emergency funds and possibly, a medical corpus.
Investments
Asset allocation, risk management, goal-based planning.... The usual gospel
Taxation
Minimizing the amount you pay to the taxman and the corresponding impact it has on your portfolio. Understanding the power of capital gains vs income tax
Administration
This is arguably the most important, and the most overlooked, pillar. It encapsulates a wide variety of actions ranging from financial tracking to the formation of a continuity plan (To ensure your dependants can continue in the case of your demise). Central to these is ensuring that wills are made, the right nominations have been selected/updated, and the sharing of important documents.
Personal Finance - Mutual Funds - YouTube
Others
- Folks, I’ve some big plans of my own this year that’s going to suck the money out of my wallet. So, I’ll have to ditch this trip to Goa (adulting sucks). But come and hang out with me at home before you all go, and we’ll have a blast?