BC MONEYWISE
Saved by @chamakta_choora

Listened to an excellent episode of Paisa Vaisa podcast with:

Monika Halan @monikahalan author of the best-selling book "Let's Talk Money" hosted by Anupam Gupta @b50

A thread 🧵 on key takeways from this excellent podcast.
#PaisaVaisa
@IVMPodcasts

 Learnings from pandemic:

~ Need for a bigger emergency fund
~ Move money from equity to emegency funds during bull runs

~ Re-balance portfolio as per market changes
~ Maintain asset allocation
Beware of current environment

~ Unauthorised & unqualified people are giving equity investing advice

~ New investors haven't seen deep crash & scary market environment

~ Times of get rich quick schemes through stock & crypto
Understand your impression about the market

Most youngster's idea of the market is:
~ Driven by the current environment
~ Influenced by the media & news
~ Motivated by bull market returns
Understand who are you?

~ Are you a trader or an investor.
~ Stock market is for all types of people.

Once you understand yourself, then choose the investment path accordingly.
A new emerging theme

Buoyancy in agriculture sector:

New age startups are coming in:
~ Mapping climate
~ Studying cropping patterns
~ Technological farming

They are eager to participate in the markets

Economy will benefit when these startups list on market in coming years.
Is the market overvalued or too high?

Don't look at sensex value.
Look at the future growth.

Market was too high at 2000, 3000, 4000, 10000, 15000 etc.

As long as future growth is present, the market will keep touching new highs!!
Relationship of money in pandemic

Importance of money:
~ For medicines
~ To access quality treatment
~ To avail oxygen

Futulity / Limitation of money

~ Couldn't spend anywhere
~ Rich also lost their lives.
~ Couldn't save the poor even if rich were ready to help!
Prepare for your death!

Be rational, than emotional!

Purpose: To provide a clear financial path for family.

Collate these details in a file:
~ Bank accounts
~ Investments
~ Insurances
~ Websites
~ Passwords
~ Imp. paperwork

Here's a thread by Monika:
https://t.co/NrOIjDfmQh
Pocess is important than result

Uncertainties of life may force you offtrack from investments

System will make sure you:

~ Don't need to find time to invest
~ Don't need to take decisions every time
~ Don't invest money in fake schemes
~ Have Money working for you every moment
What if you have the itch for speculation

~ Don't put everything in speculative assets
~ Allocate a fixed capital to such in venvstments
~ 10% out of total rest for long term investment.
~ Don't over-leverage.
A Pro tip to be safe from structured deals

~ Ask what worst can happen in the deal.
~ Get it in writing
~ Get it signed with date from the deal selling person

If he doesn't tell, run away from that person since it's sureshot trap to dupe.
Basics of life insurance

~ To protect family when primary earner dies
~ Don't combine insurance & investment
~ Don't buy for tax breaks
~ Everbody doesn't need it.
- Very rich don't need bcoz family can live off assets
~ Cover: 10x of salary
~ Duration: Till retirement age
Health Insurance pointers

Tedious due to fine print!!

~ Have your own, inspite of employer provided cover

Why?
~ You switch jobs
~ You won't be covered post retirement

Be aware of:
~ Room rent limit
~ Disease waiting periods
~ No claims bonus
~ Claims & claim complaints
How should you start your investment journey?

Have separate bank accounts with these labes:
~ Income
~ Expenses
~ Investment

Understand whether your savings is a target or a residue.

Then have:
~ Emergency funds
~ Insurances
~ Investment
Finding a financial advisor

~ Advisor should be trustworthy
~ Check within circle of friends
~ Talk with 3-4 advisors

Advisor should ask you personal questions about your lifestyle, goals etc.

Stay away from an advisor who asks about how much money you have!
That's a wrap friends:

TL;DR:

~ Beware of current market environment
~ Understand your nature before investing
~ Protect your income, insure then invest
~ Follow a process
~ Find a trusted advisor
~ Have record of finances, easily accessible for family!!
If you have found this valuable, consider re-tweeting the first tweet in this thread:

https://t.co/cad13L69TO

Do listen to this insightful podcast on IVM app or youtube:

https://t.co/s9CLG9z8SA

You May Also Like

Hindu Media Wiki
Hindu Media Wiki
@HinduMediaWiki
Speech Delay is most common in children nowadays

In ancient times, our grandparents used to follow typical natural way of caring the needs of a child. All they used were more of natural products than chemical based for the growth of child.


One of major step followed was to feed Gurbach Jadd/ Vasa Kommu/ Acorus Calamus for initiating good speech ability in a child. This stem was needed to babies on Tuesdays and Sundays in mother's milk.

Vasa is feed to baby after the 1st bath on 12th day in week. Weekly only thrice it is fed and named as :

Budhwar - Budhi Vasa
Mangalwar - Vaak Vasa
Ravi Vaar - Aayush Vasa

This stem is burnt and rubbed against the grinding stone in mother's milk or warm water to get a paste


The procedure to make it is in the link

https://t.co/uo4sGp7mUm

It should not be given daily to the child. Other main benefits are

1. It clears the phlegm in child's throat caused due to continuous milk intake. It clears the tracts and breathing is effortless.
2. Digestion

For children who haven't got their speech and is delayed than usual should feed this vasa on these days in week atleast for 6months. Don't get carried away with this dialogue
"Some gain speech little late"
CHILDREN
WORLD OF SANATAN DHARMA
WORLD OF SANATAN DHARM...
@world_sanatan
LESSER KNOWN DETAILS ABOUT THE BATTLE OF PRATAPGAD - THIS YOU ALL SHOULD READ

In the 1659 Adilshah sent Afzalkhan with the army of 75000 soldiers to destroy Chhatrapati Shivaji Maharaj with his empire. He was the main soldier, warrior and minister in Adilshahi Sultanate.


He was the Subhedar of Wai province.

He was very powerful physically. His height was 7.3 ft. due to same he was very popular as a strong man from Adilshahi Sultanate.

Whole India was not daring to fight with Adilshahi due to Afzal Khan.

Badi Begum Sahiba sent him to kill Chhatrapati Shivaji on any cost.

Voluntary he decided to destroy Chhatrapati Shivaji’s empire with him. He started his operation against Chhatrapati Shivaji from "wai". He destroyed many temples like as Tulja Bhavani Temple.

He destroyed so many villages, killed villagers to torture Chhatrapati Shivaji.

DETAILED VIEW- Running commentary

1. Chhatrapati Shivaji chose Pantaji as a lawyer to communicate with Afzal Khan. Pantaji was very sharp minded, who did his job very nicely.

2. He presented Chhatrapati Shivaji is fearing Afzal Khan and he wanted to invite him in his kingdom near Pratapgad.

3. Pantaji succeed in the communication with Afzal Khan and he brought him as per the planning of Chhatrapati Shivaji.
ALL
Advertisement
Matt Wallace
Matt Wallace
@MattFnWallace
Hey, who wants to read a story about @Upwork fucking over freelancers in order to upsell their clients on unnecessary services the clients don't want and can't afford? Strap in!

So after my marketing agency closed I started freelancing again. A marketing company that wanted to work with me only hires freelance writers through @Upwork. So I signed up. I wasn't thrilled about it, but that's who they contract with and it's their marketing company.

I've been receiving regular assignments from this company, thru @Upwork, for over a month now. I've written dozens of articles for them. My work has been exemplary. I've been handling repeated rush jobs and delivering. The client was and is very happy. That's coming from them.

While I was wrapping up several assignments this week I was contacted by the marketing company. They asked if I had taken a new full-time job and wasn't available anymore. It seems @Upwork's talent group told them I was no longer available to take assignments.

I was very surprised. Nothing had changed on my end. I still needed the freelance work very much. I told them so. So the marketing company pressed @Upwork and were told there were "compliance" issues that were preventing the marketing company from giving me any more work.
TECH
Vibhu Vashisth
Vibhu Vashisth
@VIBHU_Tweet
IT WAS RISHI KANADA WHO GAVE THE ATOMIC THEORY & TALKED ABOUT THE GRAVITY OF EARTH, 2600 YEARS BEFORE AN APPLE FELL IN FRONT OF NEWTON'S EYES:

Scientists of the modern world credit an English scientist John Dalton (1766 CE -1844 CE) for the Atomic Theory.


And this is because, most of us are not even aware of an ancient Indian Sage named Kanada, who was the first to formulate the theory of atoms, almost 2600 yrs before Dalton and talk about earth's gravity.


Rishi Kanada was born around 600 BCE in Dwarka, Gujarat and he was the son of a philosopher named Ulka. He was fascinated with the minute detailing of the things right from his childhood. Once, when he was very young, he accompanied his father on a journey to Prayaga.


He saw plentiful grains scattered along the path leading to the shore of river Ganga. It's a tradition in Hindu families to scatter the grains for the ants and birds to feed on them. Suddenly, an ant caught his attention, who was feeding on a rice grain.


He was mesmerised by this very fact that how a small grain of rice becomes food for the ant but to satisfy the hunger of a person so many grains are needed together. This incidence made him realize the importance of a single grain of rice.
ALL
Steve Stewart-Williams
Steve Stewart-Williams
@SteveStuWill
THREAD: 12 Things Everyone Should Know About IQ

1. IQ is one of the most heritable psychological traits – that is, individual differences in IQ are strongly associated with individual differences in genes (at least in fairly typical modern environments). https://t.co/3XxzW9bxLE


2. The heritability of IQ *increases* from childhood to adulthood. Meanwhile, the effect of the shared environment largely fades away. In other words, when it comes to IQ, nature becomes more important as we get older, nurture less. https://t.co/UqtS1lpw3n


3. IQ scores have been increasing for the last century or so, a phenomenon known as the Flynn effect. https://t.co/sCZvCst3hw (N ≈ 4 million)

(Note that the Flynn effect shows that IQ isn't 100% genetic; it doesn't show that it's 100% environmental.)


4. IQ predicts many important real world outcomes.

For example, though far from perfect, IQ is the single-best predictor of job performance we have – much better than Emotional Intelligence, the Big Five, Grit, etc. https://t.co/rKUgKDAAVx https://t.co/DWbVI8QSU3


5. Higher IQ is associated with a lower risk of death from most causes, including cardiovascular disease, respiratory disease, most forms of cancer, homicide, suicide, and accident. https://t.co/PJjGNyeQRA (N = 728,160)
LIFE