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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.)

‘Lata-didi is like my elder sister. We respect each other’

Jun 1
3 min read

Mumbai: Playback singer Suman Kalyanpur was always compared with legendary Lata Mangeshkar. There was a reported rift between them over certain issues. However, Kalyanpur, who passed away on Sunday night in Mumbai, had dismissed the speculation in an exclusive chat with this correspondent almost three decades ago.

 

She had responded with characteristic grace and a smile: “I have nothing to say about this. Lata-didi is like my elder sister. We respect each other. I just do my singing, and do not bother about comparisons.”

 

Kalyanpur was accorded a funeral with full state honours at the Vile Parle crematorium on Monday afternoon in the presence of her family, members of the film fraternity, admirers and countless fans who had cherished her music for over six decades.

 

Earlier in the day, her mortal remains were kept at Shivshakti Apartments for the public to pay their last respects. Scores of admirers queued up to offer floral tributes to the singer whose voice became synonymous with grace, melody and emotional depth.

 

Later, her body, draped in the National Tricolour, was taken in a solemn funeral procession. Her daughter Charul Agny and other family members joined mourners as the Mumbai Police accorded her full state honours before the last rites were performed.

 

Born Rebel

 

Born on January 18, 1937, in Dhaka, then part of undivided Bengal Province (now in Bangladesh), Suman was the eldest among six siblings, including five sisters and a brother. Her father, a banker, hailed from Hemmadi village in Karnataka's Udupi district.

 

When she was barely six years old, the Hemmadi family moved to Mumbai where she studied at St. Columba Girls' High School in Gamdevi and later enrolled at the Sir J.J. School of Art, aspiring to become a painter.

 

Fate, however, had other plans. Blessed with an exceptionally melodious voice, she gravitated towards music and received her initial training under Pandit Keshavrao Bhole. She later refined her skills for professional singing under Ustad Abdul Rehman Khan and Master Navrang.

 

Despite strong resistance from her family, Suman pursued her passion and was invited to sing for All India Radio in 1952, when she was just 15. A year later, she recorded her first playback song for the Marathi film “Shukrachi Chandni “(1953).

 

First Break

Her talent soon caught the attention of actor-producer Sheikh Mukhtar, who gave her the first Hindi film break in an action film, “Mangu” (1954). It proved to be a turning point and soon after, legendary composer Naushad Ali entrusted her with five songs in “Darwaza” (1954), including a duet with Talat Mahmood. The teenaged singer's extraordinary promise was impossible to ignore.

 

Following her marriage to Mumbai businessman Ramanand Kalyanpur in 1958, she found unwavering support from her husband, who accompanied her to recording sessions and encouraged her musical pursuits.

 

Range of Songs

At a time when giants such as Lata Mangeshkar, Asha Bhosle, Geeta Dutt, Shamshad Begum and Suraiya dominated film music, Suman carved out a distinctive space for herself.

 

Her repertoire ranged effortlessly from romantic melodies and ghazals to devotional songs, folk-inspired compositions and light classical numbers.

 

As her popularity grew, comparisons with Lata Mangeshkar became inevitable, fueling persistent rumours of a rivalry though Suman consistently dismissed such speculation.

 

From the mid-1950s through the late 1980s, Suman Kalyanpur recorded hundreds of songs with some of India's greatest male playback singers, including Talat Mahmood, Mohammed Rafi, Mukesh, Hemant Kumar and Kishore Kumar.

 

With her strong grounding in classical music, she sang with ease in multiple languages, including Hindi, Marathi, Kannada, Gujarati, Bengali, Punjabi, Assamese, Odia and several South Indian languages. Her versatility, precision and emotional expression earned her a place among India's most respected playback singers.

 

Over a distinguished career spanning more than six decades, she received numerous honours and accolades, including the Padma Bhushan in 2023, apart from several state, national and international awards.

 

Though the singer has fallen silent, her immortal melodies continue to resonate across generations – a fitting echo of one of her most cherished songs: “Rahe Na Rahen Hum, Mehka Karenge.”

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