The Federation of Telangana Chambers of Commerce and Industry (FTCCI) organized on Thursday a Seminar on Financial Planning & Investment Opportunities at Federation House on Thursday evening.
Welcoming the gathering Anil Agarwal said we all look for financial planning and opportunities. Seminar on Financial Planning is the need of the hour. I am sure participants will benefit from the experts.
Speaking to a 100-plus audience, Mr. Anjaneya Gautam, Director - IFD Group at JM Financial Services Ltd said financial planning helps you increase your savings, enjoy a better standard of living, be better prepared for emergencies, and have peace of mind. But not many are good at it. So, we need help from a financial planner. But do you know how many registered financial planners in a massive country like India has, just 2300, while there are 2.13 lakh across the world, he said? Financial planning needs to be spread, he said.
Financial planning is more than money, it is behaviour. Financial Planners are your behavioural managers, he said.
All can not take risks. Where there are risks, there are high returns. If you are looking for high returns and willing to take high risks, the capital market is right for you, he said.
Speaking about where we spend money during many stages of our lives he said disability insurance is more important than life insurance. Both insurances are important. While life insurance protects the family from a loss of life. Whereas disability insurance ensures the insured and the family both are financially protected while the insured is alive. A disability insurance policy provides an income replacement if you're unable to work due to a disability he said.
Medical insurance is an important priority. But don’t depend on corporate or job-related medical insurance. Always depend on your personal medical insurance.
Mr. KS Rao said money speaks only one language. And that language is if you save me now, I will save you tomorrow.
Speaking further he added Mutual Funds are always your Mutual Friends, Mr K S Rao added
We keep talking about the GDP of our country. But do we know what is our personal? GDP—Goals, Dreams and Plans, he asked.
Saving is not about investing the leftover. And on a lighter note, he shared a joke. All others across India drive left side of the road. But in Hyderabad, we drive whatever is left space on the road. He gave seven reasons to invest in Mutual Funds. Your own good financial behaviour can make you rich. Mutual Fund is saving ka naya thareeka, he concluded his presentation.