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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

Five Action Points for July

With the first half of 2026 now behind us, July becomes an important checkpoint in the financial calendar. The beginning of July is the right time to move from reflection to action. Here are five important financial action points to focus on. 1. Inflation-Beating Assets One of the most important principles of long-term investing is to ensure that your portfolio is designed to beat inflation. Inflation silently reduces the real value of your money over time. This is why your long-term...

Five Action Points for July

With the first half of 2026 now behind us, July becomes an important checkpoint in the financial calendar. The beginning of July is the right time to move from reflection to action. Here are five important financial action points to focus on. 1. Inflation-Beating Assets One of the most important principles of long-term investing is to ensure that your portfolio is designed to beat inflation. Inflation silently reduces the real value of your money over time. This is why your long-term investments must be in assets that have the potential to deliver inflation-adjusted returns. For long-term financial goals, investors should consider assets such as equity mutual funds, direct stocks and gold. For short-term financial goals, especially those required within the next three years, options such as bank fixed deposits, recurring deposits or suitable debt mutual funds can be considered. If a large portion of your money is lying in low-return instruments, July is a good time to review and reshuffle your portfolio. 2. Increase Your SIPs Systematic Investment Plans (SIPs) remain one of the most disciplined ways to build wealth. SIPs help you invest regularly, avoid timing the market and benefit from long-term compounding. However, simply having SIPs is not enough. Your SIP amount must also be sufficient. Ideally, investors should aim to invest at least 30 percent of their in-hand monthly income. A common mistake is not increasing SIPs even when income goes up. Whenever your income goes up, your SIPs should also increase. An annual SIP increase can make a significant difference to your long-term wealth creation. 3. Make Lumpsum Investments While SIPs provide discipline, they should not be your only investment strategy. Besides SIPs, it is important to do extra lumpsum investments voluntarily, every few months. Also, if you have received a bonus, incentive or any unexpected inflow, consider investing it as a lumpsum. The idea is simple: do not let surplus money remain idle for too long. Staying invested gives your money the opportunity to grow. 4. Secure Insurance Cover Health insurance and term life insurance are essential pillars of financial planning. A single hospitalization can disturb your finances if you are not adequately covered. Do not depend only on your employer’s health insurance. Buy a sufficient personal health insurance policy with the right features. Similarly, term life insurance protects your family’s financial security in case of an unfortunate event. Your cover should be based on your income, loans, dependents and future responsibilities. 5. Consult a Financial Advisor If you have not yet made a proper financial plan, July is a good time to do so. Even if you already have a plan, it should ideally be reviewed every year. Consult a well-educated, full-time financial advisor for your financial goal planning and execution. It takes years of education, experience, expertise and wisdom to write a prescription. Please do not self-medicate when it comes to your wealth. The first half of 2026 is over, but the second half still gives you the opportunity to realign your finances. Take action, stay disciplined and move steadily towards your financial goals. (The author is a Chartered Accountant and CFA (USA). Financial Advisor. Views personal. He could be reached on 9833133605.)

Navy doc treat injured Pakistani crew

Mumbai: In a humanitarian gesture, the Indian Navy (IN) rendered lifesaving medical assistance to save the life of a Pakistani crewman on an Iranian fishing vessel in the Arabian Sea, officials said.


The operation took place on Friday/Saturday around 350 nautical miles in the high seas off Oman coast, with the help of the stealth frigate INS Trikand.


On April 4, the INS Trikand monitored a distress call from the Omani vessel 'Al Omeedi' seeking help for a crew member, who was seriously injured with multiple fractures and blood loss.


Further enquiry revealed that the distressed crewman was working on the vessel's engine when he sustained the grievous injuries and was transferred to another Iran-bound dhow, 'FV Abdul Rehman Hanzia', in the vicinity.

On getting the SOS, INS Trikand immediately altered her course to rush medical assistance to the injured crew.


The 'FV Abdul Rehman Hanzia' has a contingent of 11 Pakistanis and 5 Iranians manning the vessel.


The Indian warship's medical officer along with a team of Marine Commandos boarded the FV.


Ob board, the MO started the three hour long medical procedures, controlling the blood flow, suturing and splinting of the crew's injured fingers.

It was a timely response which prevented the patient's total loss of the injured fingers due to gangrene.


The IN stealth warship also provided crucial medical supplies, antibiotics to the FV to ensure the injured crew's wellbeing till the dhow reaches Iran.


The entire crew of the dhow expressed their gratitude to the IN for rendering assistance on time that helped saving their injured mate's life, said the IN officials.

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