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By:

Kaustubh Kale

10 September 2024 at 11:37:15 pm

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make...

Nine Financial Tips for a Prosperous Navratri

As Navratri draws to a close, I wish you and your family happiness, prosperity, and continued success. Festivals are a time of celebration, but they also serve as a valuable reminder to reflect on our financial habits and strengthen our financial discipline. In the spirit of the nine days of Navratri, here are nine essential financial tips to help you stay on track with your financial goals and make your journey towards financial freedom smoother and more secure. Build an Emergency Fund Make sure you have at least six months of living expenses saved in a bank fixed deposit or a debt mutual fund. This reserve will serve as your emergency fund for unforeseen situations and ensures you are prepared for any rainy days. Review Your Asset Allocation Revisit your investments to ensure they align with your goals. For short-term goals within three years, bank fixed deposits, recurring deposits, or debt mutual funds are appropriate. For long-term goals beyond three years, a diversified combination of hybrid/equity mutual funds, direct equities, and gold should be preferred. Do Sufficient SIPs Systematic Investment Plans (SIPs) are the backbone of disciplined investing. At least 25-30 percent of your in-hand monthly income should ideally be invested through SIPs in mutual funds, equities, and gold. This consistent approach will steadily build wealth over time. Make Lumpsum Investments Along with SIPs, voluntary lumpsum contributions into long-term assets whenever you have surplus funds can accelerate wealth creation. Even occasional lumpsum additions make a significant difference to the overall corpus. Increase Your SIPs Annually As your income increases, make sure your investments grow as well. Increasing your SIP amounts every year helps your wealth stay in line with inflation and your rising lifestyle needs. Increase your SIPs yearly and anchor them to at least 30 percent of your monthly income. Stay Invested Remain invested until your financial goals are achieved. Avoid redeeming investments unnecessarily. Frequent withdrawals disrupt compounding. If liquidity is required, consider taking an overdraft loan against your investments rather than breaking them prematurely. Health Insurance Safeguard your family with adequate health insurance. Opt for a minimum cover of 25 lakhs per family member with comprehensive features. Remember that relying only on employer-provided insurance is risky. Independent health insurance is essential. Term Life Insurance Protect your loved ones with a pure term life insurance policy. Ensure a cover of at least ten times your annual income, along with provisions for any outstanding loans. Stay away from mixing insurance with investments. A simple term plan is the most effective solution. Consult a Financial Advisor A full-time, well-qualified financial advisor can simplify your financial journey. Professional guidance ensures disciplined planning, correct product selection, and proper execution of your financial strategy. May this festive season bring abundance and lasting financial peace. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Are Hurried Preterm Delivery Reports Fake?

Writer: Ruddhi Phadke
Ruddhi Phadke
Jan 29, 2025
3 min read

Updated: Jan 30, 2025

Questions are being raised over claims of Indian women desperately getting C-section operations done to meet Trump’s Feb 20 deadline.

C-section

Days after several media reports in India claimed that Indians residing in US are hurriedly planning C-section operated preterm deliveries to meet Trump’s deadline of birthright citizenship cancellation order deadline, sources residing in US anonymously told The Perfect Voice that these reports are fake. Sources believe that the situation has been highly exaggerated by media. Some reports claimed that an increasing number of Indian couples are getting preterm delivery executed through C-section operation in the US, before the birthright citizenship deadline on February 20. Several experts have refuted the claims stating that the US has strict laws in the health sector and that the C-section operations are extremely expensive, and also, it's completely illegal to conduct such operations in the US. Speaking exclusively to The Perfect Voice, Mumbai based Visa consultant Karan Gupta pointed out, “The average cost for a C section in the US is around $35,000 (higher is some states) and most of the Indians working on H1B visas would not prefer to incur this additional cost. With this said, there would still be some people who would opt for C sections so get their child US citizenship. It is most certainly illegal to do so and doctors could lose their license and end up in prison if they perform such operations.”


A New York based practicing Obstetrician anonymously said, “It is very risky, both for the mother and a baby. Why will someone take such a big risk? Besides, why will we risk our medical licenses for their citizenships? The said claim seems to be fake and I am not aware of any such instance in which such operations are being done.”


Another expecting mother anonymously explained, “I would rather come back to India, than get a C-Section done for citizenship for our child. Pre-birth is risky both for the mother and the child. Additionally, we cannot afford the cost of a C-section operation.”


Rumours were also in the air that new parents flocked to the passport offices to get registration of passports done hurriedly before February 20. While isolated such incidents were reported in the US, Karan Gupta has refuted the claimed intensity of the situation. Gupta said, “This claim seems highly exaggerated because when a child is born in the US, they are given a birth certificate from the hospital. There is no need to apply for a passport for the child immediately. The birth certificate is definite proof of US citizenship.”


“The US. recognizes birthright citizenship under the 14th Amendment to the Constitution. A child born in the U.S. is automatically a U.S. citizen, regardless of their parents' citizenship or immigration status, provided they are not the children of foreign diplomats. The parents must obtain a birth certificate for the child from the hospital where the child was born. This document proves the place of birth and is the primary evidence of citizenship”, further explained Gupta.


To obtain a U.S. passport for the child the parents fill out DS-11 and submit the child’s birth certificate as proof of citizenship. The parents also provide their own identification documents.


Meanwhile experts believe that immigrants in the USA need not panic immediately because on Thursday, January 23, a federal judge blocked Donald Trump's administration from implementing the Republican president's executive order curtailing the right to automatic birthright citizenship in the United States, calling it "blatantly unconstitutional." The execution of the order will have to go through a series of legal hurdles. For now, immigrants don’t have to worry as the court will hear the matter. It could be several months or years before a final decision is reached. This has given hope to thousands of immigrants.

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