Weekend Roundup – Mar. 9th 2014

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  • First an update on the mutual fund and financial goal tracker. Thanks to more feedback I have made some major improvements.
    • Ability to combine lump sum and SIP transactions in the same account statement
    • Option to change SIP end date. I forgot to add this earlier!
    • Improvements in the fund summary sheet and goal tracker
    • I have not added goal calculators which will be linked with the fund holdings
    • Graphs to plot evolution of a portfolio
    • I would like to test this for about one more week before releasing it (finally!). Before I forget, I need to compile the list of all those who took the trouble of sending feedback and post it.
    • If you are interested in testing it, leave a comment.
  • This week I asked, Should I invest for my child’s marriage? If you have missed it, do read it including the interesting comments. I received this fabulous comment from Raesh Emani, at Asan Ideas for Wealth (FB group):

‘future is unknown and uncertain’…..let me add, ‘past is known and certain (factual)’….what is left is ‘TODAY and NOW’; so SAVE today and INVEST today. think this way ‘everyday’. When the event happens, one might or might not spend what is accumulated for the purpose. But, the whole idea is Accumulate – spending is an option available when the event occurs. One can still accumulate and avoid spending or end up spending more. ‘Accumulation is mandatory, Spending is a Choice’.

  • Thanks to feedback from Satya S Mishra, here is the updated Mutual Fund SIP/Lump Sum Returns Analyzer
  • Double indexation madness! Mutual funds rush to launch fixed maturity plans Just goes to show how majority of investors are clueless about goal-based investing. If you want to catch the average Indian’s attention, just throw in ‘tax-free’ in the sentence! Who is to blame?  The investor or people who take advantage of investor-idiocy? Without a doubt the investor!
  • A slightly older but obviously still relevant article by livemintBig FMP push by funds; should you invest?  The tagline says it all: “We always recommend FMPs, but the point here is (to) buy them only if you want them”.

“Be warned: your mutual fund (MF) distributor may just try and persuade you to invest in a fixed maturity plan (FMP). That is, if she hasn’t done it already. Let’s make one thing clear: we like FMPsand we recommend them regularly, especially the double-indexation ones that come out in February and March every year. But we also insist that it’s when you invest in any product for the wrong reasons that you suffer. Also, if distributors get higher-than-usual commissions, chances of mis-selling obviously go up”.

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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman(PhD) is the author and owner of freefincal.com.  He is an associate professor at the Indian Institute of Technology, Madras since Aug 2006. Pattu” as he is popularly known, has co-authored two print-books, You can be rich too with goal based investing (CNBC TV18) and Gamechanger and seven other free e-books on various topics of money management.  He is a patron and co-founder of “Fee-only India” an organisation to promote unbiased, commission-free investment advice. Pattu publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year (2.5 million page views) with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis. He conducts free money management sessions for corporates  and associations(see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints, TamilNadu Investors Association etc. Contact information: freefincal {at} Gmail {dot} com (sponsored posts or paid collaborations will not be entertained)
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You Can Be Rich Too with Goal-Based Investing

You can be rich too with goal based investingMy first book is meant to help you ask the right questions, seek the right answers and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.  It is also available in Kindle format.
Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You WantGamechanger: Forget Start-ups, Join Corporate and Still Live the Rich Life you wantMy second book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at low cost! Get it or gift it to a young earner

The ultimate guide to travel by Pranav Surya

Travel-Training-Kit-Cover This is a deep dive analysis into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, how travelling slowly is better financially and psychologically with links to the web pages and hand-holding at every step.  Get the pdf for ₹199 (instant download)

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