I VIMAL SOLANKI

“Wealth isn’t about having a lot of money. It’s about having a lot of options.” – Chris Rock The festive season of Diwali has just passed — a time when we clean our homes, decorate our surroundings, and invite prosperity. But here’s a thought — how often do we “clean up” and organize our financial lives with the same dedication? As the diyas fade and we move into a new financial chapter, this is the perfect time to reflect on one crucial goal — achieving financial freedom . 🌱 Step 1: Financial Planning – The Foundation of Freedom Financial planning is not just about budgeting or saving money — it’s about giving your money a direction . Just like we plan our festivities down to the last sweet box, our finances deserve the same meticulous care. A proper financial plan helps you: Understand where you stand today (assets, liabilities, income, expenses) Define where you want to go (your financial goals) Create a roadmap to reach there (through savings, investments, and protection) Exam...

Insurance in India: More than a Policy — It’s a Lifeline 🛡️ Despite India’s growing awareness around financial planning, insurance still remains one of the most underpenetrated segments. 👉 As per IRDAI reports, less than 30% of the Indian population has any form of life insurance. Health insurance fares worse — with just about 15-20% of the population having adequate medical cover. This is alarming, especially in a country where one medical emergency can wipe out a family’s lifetime savings. 🔍 Why Insurance Is No Longer Optional: Rising medical costs Increasing lifestyle-related diseases Growing uncertainties in employment and income The need for financial protection for dependents 💡 The good news? The insurance industry in India is projected to grow at CAGR of 10–15% over the next 5 years , driven by digital innovation, regulatory support, and increased financial literacy. But growth stats alone don't solve real problems. What we need is action at the grassroots — proper guida...

When you live outside India, your heart often beats in two places: one where you build your career and another where your roots are deeply grounded. For Non-Resident Indians (NRIs), investing in India is not just about chasing higher returns—it’s about staying connected to the country, creating wealth across geographies, and securing a strong financial future. But why should NRIs consider investing in India, especially today? Let’s dive in. 1. India’s Strong Economic Growth Story India is one of the world’s fastest-growing major economies. With GDP projected to remain strong in the coming decade, backed by reforms, infrastructure growth, digital transformation, and a young population, India provides NRIs a golden chance to ride the growth wave. Think of it this way: investing in India today is like investing in Silicon Valley during its early boom. 2. Attractive Investment Opportunities NRIs can explore multiple asset classes in India: Real Estate – India’s real estate market is boomi...

In today’s world of information overload, it’s easy to assume that more is always better. More mutual fund schemes = better diversification = higher returns, right? Wrong. When it comes to mutual fund investing, diversification is important  but over-diversification can be counterproductive . Let’s dive into this often misunderstood topic and find out the optimal number of mutual funds you should ideally hold. 🎯 Why Do People Invest in Too Many Mutual Funds? There are 3 common reasons: Fear of Missing Out (FOMO): Every time a new fund performs well, many investors rush to add it to their portfolio. Misunderstanding Diversification: People confuse “diversifying across asset classes” with “buying too many funds in the same category.” Lack of Review: Old SIPs continue while new ones keep getting added—resulting in duplication and clutter. 🧠 What is True Diversification? True diversification means: Investing across different asset classes (equity, debt, gold) Within equity: di...