Oaktree Financial Planning

It appears that many people spend more time picking a vacation destination, a car to buy, or even a restaurant for supper than they do creating an estate plan, which determines who will receive their assets after they pass away. Choosing who will receive all you've worked so hard for without estate planning may not be as amusing to consider as arranging a trip or reading restaurant reviews. Not just the wealthy engage in estate planning. Even if you don't have an expensive property, sizable IRA, or priceless artwork to leave behind, the handling of your affairs after your passing could have a lasting—and expensive—effect on your loved ones without a plan in place. Not persuaded that having an estate plan is essential? Consider these four arguments in favor of having one to protect your heirs from possible disastrous outcomes. 1.      An Estate Plan Protects Beneficiaries: If estate planning was originally seen to be something that only wealthy people required...

Introduction: Investing in the stock market over the long run might aid with money management. When you first start out, investing in the stock market may be intimidating because it may seem too complicated or hazardous. You can start by carefully understanding. The potential for larger returns on your investment and the development of financial discipline are two of the top reasons to invest in the stock market. For instance, investment in stocks has produced a greater rate of return over the past ten years when compared to fundamental saving products like fixed deposits. Periodic investments help you develop disciplined financial habits by motivating you to set aside money and invest it sensibly. How to Invest in the Share Market in September 2023? On the stock market, you cannot make direct purchases or sales. You must use stock brokerage firms that permit you to trade using their platform or brokers who are licensed to operate on the market for this. The procedure is easy: ...

  Life insurance is a topic that, for a variety of reasons, does not receive enough discussion. As a result, we shall attempt to dispel several myths about life insurance throughout the course of time. Life insurance can be tricky to figure out with all its technicalities and rules. Misconceptions surrounding life insurance products discourage people from considering them as one of the most crucial instruments of financial planning. However, life insurance is one of the most essential financial contingency plans that protects your loved ones and secures their future even when you are not around. It helps as a source of savings and an add-on during shortages of funds. It may also serve as a source of income after retirement or in the event that illnesses or accidents impair your ability to work. However, there are so many common myths surrounding life insurance that people believe them without knowing the facts. So, let us break those myths and get a comprehensive understanding of...

  Women may find it an impossibly difficult task to take charge of finances after the death of their spouse, especially if they are unfamiliar with the complexities of money management. As per a statement given by 35-year-old Sumita Chakraborty to the Hindustan Times, "I lost my husband during the second wave of the pandemic in India. He was just 40. In just a matter of a few days, the lives of me and my children were thrown out of gear completely. Things have been incredibly hard; the emotional upheaval and the grief have colored all aspects of our lives, and healing is going to be a long journey. Matters have been complicated on the financial front too since his demise.". Life seems too difficult, even for Sumita Chakraborty, who is a software engineer based in Delhi. Even though she is a well-educated woman with a sound professional background, managing finances while taking care of the household and children was a difficult task for her. It's really difficult and st...

  Introduction Investments play a crucial role in securing your financial future. Investments help you achieve all your life goals by earning inflation-beating returns. However, you'll need a plan if you want to invest. An investment plan is a strategy that will direct your decision-making and assist you in achieving all of your financial objectives. An effective investment plan serves as a tool to design an effective roadmap toward achieving financial freedom. What is Investment Planning? The process of identifying your financial goals and developing a strategy to achieve them is known as investment planning. Investment planning is the foundation of financial planning. Investment planning begins with determining goals and objectives. Then, we must strike a balance between those goals and the available financial resources. Investment planning entails regular monitoring of the investments in addition to the actual investment with reference to the future goals. Today, there are...

  Introduction Ailments that the insured had prior to purchasing health insurance are known as pre-existing conditions. According to IRDAI, a condition is considered pre-existing if the insured person received a diagnosis of it up to 48 months before obtaining the insurance. All chronic disorders, such as diabetes, asthma, high blood pressure, thyroid disease, and more, are regarded as pre-existing ailments. Pre-existing diseases in a health insurance plan: There is a pre-existing condition clause in every health insurance policy. For those who have pre-existing diseases, buying health insurance may be difficult. Prior to learning about the limitations on coverage for pre-existing conditions, determine what a pre-existing health condition actually implies. Pre-existing diseases waiting: In the context of health insurance, the waiting period refers to the period of time before which the insured person is not eligible to receive benefits under the policy for the listed dise...

Balanced advantage funds are a type of hybrid fund that invests in both, equities and debt instruments. There is no set fixed threshold for exposure to a particular asset class. These funds can also modify their asset allocation as per the market conditions. When the equity market is trading at an all-time high, fund managers may increase the exposure to equities, while reducing it in falling stock markets. Unlike other funds, Balanced Advantage funds not only offer a mix of growth and fixed-income instruments but can also switch between asset classes dynamically. Balanced Advantage Funds asset allocation is determined by the dynamic asset allocation methodology. How do they work? Balanced advantage funds have a unique rebalance strategy where they can drastically reduce or increase the asset allocation towards equities or debt. Additionally, if the fund manager anticipates a rise in valuations and key indices, they might increase their equity exposure. But when they anticipate a m...

It is the time of the year when you will have a salary increment and annual bonus as well. You must have already planned where to utilize the bonus. Wait and read and ponder on below following financial planning steps as well. These steps will help you to prioritize where you can use the bonus most effectively. We all have gone through the pandemic and you must have noticed various news of layoffs at corporates. Keeping that in mind we want you to think and plan your finances. Create an Emergency Fund: The financial planning suggests having at least 6-12 months of expenses as an emergency fund. So utilize your salary increment and bonus this year to create the emergency fund. This is why experts recommend that everyone should maintain an emergency fund that can be easily accessed at short notice. If you wonder what is the ideal amount to be kept, the thumb rule is to save enough to cover 3-6 months of expenses which should also include loan EMIs, insurance premiums, and other manda...

  Regardless of how much (or little) you know about investments, stock markets, credit cards, and insurance, your financial planning is most likely to fail if you don't have a firm grasp of your money. Hence, having a solid understanding of your finances, or your financial situation, and being able to manage them intelligently, is the most crucial stage in financial planning. So, what is your financial situation? 1) Earnings and Expenses: Your expenses matter more than earnings when it comes to determining how much money you have on hand after meeting your needs and wants. You must create a 'balance' between your spending and earning patterns if you want to be in a better financial state. Creating a ‘balance’ between your earning and spending patterns will create a benchmark for planning your finances. Normally, a healthy bank balance at the end of the month indicates a trend towards a good financial position, and a zero or negative bank balance at the end of most mo...

Do you understand the many terms used in investing in mutual funds? Do you struggle to understand the terminology used in mutual funds? Alternatively, are you unsure which mutual funds to buy as your next investment? If the answer to the above questions is, yes, then let us explain you to in easy to understand manner. It's possible that you were given advice telling you to invest in large- or mid-cap funds instead of small-cap funds. But what do the terms "large cap," "mid-cap," and "small cap" funds mean? How do you distinguish between large-cap, mid-cap, and small-cap funds? Let's start with the fundamentals to comprehend what the word "market cap" means. What is market cap? The technical term market capitalization is also known as market cap. Therefore, market capitalization is the market value of a company's outstanding shares. Market capitalization is the total market value of all the shares owned by a company's shareholders....

Because it is so important, this is a matter that should be thoroughly considered. Let's examine the importance of term plans and the ideal moment to buy them in order to get the answer to this query.  Financial decisions: While aiming to reduce our spending on pointless items, we frequently buy things for our family. We consider the usefulness and product quality while making purchases of items like toothpaste or cars. Before making a purchase or making an investment, it only makes sense to carefully evaluate the product's quality and financial advantages. Similarly to that, we ought to be aware of the monetary worth of each of our lives. If the price of human life is less than your current insurance coverage, term insurance is urgently required.  Loss of income: We quickly get relaxed when we have a cough, cold, fever, or any other medical condition. We may not currently recognize it as a temporary loss of income because we are still receiving pay. Your financial plan should...

What is Health Insurance? Medical insurance (Mediclaim), commonly referred to as health insurance, is a strategy for financial stability that covers unforeseen expenses related to care, hospitalization, and surgery. It provides financial aid to pay for surgery, hospitalization, and medical treatment costs. It is a type of insurance coverage that covers an insured person's medical and surgical expenses. What is a pre-existing illness? Diseases or health conditions the insured had before purchasing a health insurance policy are pre-existing conditions. According to IRDAI, a condition is regarded as pre-existing if the insured person had a diagnosis of it up to 48 months before enrolling in insurance. All chronic medical disorders, including diabetes, asthma, thyroid illness, high blood pressure, etc. are considered pre-existing conditions. Pre-existing diseases in a health insurance plan Every health insurance policy has a pre-existing condition clause. Those who have pre-existing di...