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Gaurav Mashruwala
Certified Financial Planner
Here is an edited transcript of his interview.
Q: Besides investing in equity how else can one manage investments?
A: When it comes to personal finance. It is much larger gambit that one should look at. One is goal setting. Many times the question that comes is, where do I get maximum return. It is not about maximisation, it is about optimization. Are your investments aligned top your requirements? That is one.
Second is contingency funding. Do you have enough emergency money left incase there is job loss or whatever reason either market condition or economic condition. Insurance, is there enough health insurance? What I normally see with salaried individuals is, employer gives it to us, but they have rarely gone to HR department and said show me the kind of cover that I have, limited, unlimited, cashless, insurance aspects borrowings. We see portfolios or balance sheets where there is loan at 11% and there were FD at 8%. It doesn't make sense, liquidate that FD and pay it off. So, investment is another aspect.
Taxation, tax efficiency, am I kind of making my money work in a manner which is tax efficient? Lastly estate planning - assets. How my assets will go on to next generation. Even simple things like nomination and then obviously drafting Will. We are creating assets much-much faster than what our parents did. So, transferring of those assets to next generation is very important.
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