XLFinplan – Excel based Personal Financial Planning and Wealth Management Application

XLFinplan is an extraordinarily comprehensive Excel based financial planning application developed by Satish Mistry of Money Care Financial Planning Services. This commercial software has many interesting applications that will be useful not only for financial planners but also for individual investors.

I requested Satish to send me a write up of the main features of XLFinplan. The following is the edited version. The downlink for the demo version and a complete listing of features as sent by Satish is given below. read more

The unimportance of knowing one's net worth

The net worth of an individual is simply the sum of all usable assets after deducting liabilities. If you search for ‘net worth’ and ‘importance’ in Google, you will find several articles which talk about, how determining and regularly monitoring net worth are important indicators of financial health.

Suppose I estimate my net worth to be about 5 Lakhs, does it say anything about my financial health? I could have all that money in a SB account and claim my net worth is growing each month after I get a pay check. read more

Mutual Fund Returns Comparison: Direct Plan vs. Regular Plan

It is now seven months since direct mutual fund plan were introduced. Using NAV history of HDFC Top 200, I have calculated the actual difference in returns between the regular-plan and direct-plan (growth option) obtained so far (Excel sheet attached).

Let use recall that regular funds will have a higher expense ratio than direct funds.  A typical expense ratio breakup can be found here:  Should We Switch To Direct Mutual Fund Plans? Calculate and Consider read more

Weekend Viewing II: Interview with the Warren Buffet of Hollywood

Who is the Warren Buffet of Hollywood?

For my generation it is undoubtedly Steven Speilberg. Here is an extraordinarily inspiring ‘Actors Studio‘ interview with the man. This is a must-watch. If you have children (10+) make them watch this or better still watch it along with them.

Unnecessary Trivia: I was in Berlin for a few months in 2003. My neighbour was a close friend of Speilberg. Whenever SS visited Berlin he stayed with him. So I guess I can say that I have been in the same room as the great man … at different times of course 🙂 read more