No man is an island. This is especially true while investing. A family emergency can knock the most carefully crafted financial plan off course. In other cases, ignorance about the investments of family members can cause them to simply 'get lost.' Insurance policies may lapse, PPF accounts may become dormant and mutual fund returns may remain in limbo, ultimately getting transferred to the investor protection fund.
Yet most people think only of their own needs while investing. Others do plan for their family, but only for a few big needs - children's education, marriage, etc. This ignores a lot of hidden connections. If your parents have most of their savings in PPF and FDs, does it makes sense for you to follow suit? If your wife has faithfully bought gold every year, should you be holding gold as well? A well-diversified family portfolio can do a great deal better than disconnected individual portfolios. We tell you how, in the upcoming Money Hangout.
Week 44: Investing for your family
Date: Friday, August 25, 2017
Time: 12:30 PM - 1:00 PM
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