And for a Friday, last day of a rather forgettable 2021, some thoughts..… some musings…..
December 31st of a year which has seen huge upheavals. The second Covid wave was singularly severe. There is no family in India who within the primary or secondary circles had not been impacted. Either a close relative, friend or colleague who traumatised during those most forgettable period of Oxygen shortages and no hospital beds. Most unfortunately, many of the near and dear ones could not even reach due to lockdowns and restrictions, to console or be with the bereaving families. Each one of us can recount incidents and be thankful to God for all those who got out of the miseries. Today, the last day of the year, let us all remember and pray for those who left us. May their souls rest in eternal peace.
This pandemic has been a great leveler and taught us many lessons. Let us all move into 2022 with new hopes and preparations with lessons learnt. Uncertainty, fragility of life and relationships and need to be ever prepared is now a given. So those in the mid forties and in peak of their competitive careers must recognise that Life-Work-Relationships Balance is equally important providing for the future and investments. In the globally linked Fintech world conventional investments will not suffice. Of the many asset classes available, each family must have investments across minimum four Asset classes which will include Equity, Real estate, Foreign exchange, Debt instruments, Arbitrage, Cryptos, FDs, Tax savers, etc. etc. The choice is huge and if not knowledgeable then the services of a good Investment professional is a must. And for those in their sixties, time to shrink down, monetise all fixed assets, vehicles, farms, houses, apartments and real estate excepting the one in which you reside. All others must be in digitalised Investments with proper nominations and covered by a will. Consolidate all bank accounts into one nationalised and one private bank. Ensure sufficient Medical Insurance coverage. Use financial engineering to optimise cash flows. At all times keep your partner fully financially safe and informed should something happen to one partner. Plan for the worst and hope for the best.
Let me wish each of you a happy and stress free New Year. Omricron is still lurking. So let’s all celebrate today, the responsible way, the covid protocol way, the SEEGOS way.