Oaktree Financial Planning

  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...