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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.)

Prowler sneaks into home, stabs actor; Khan safe

Jan 17, 2025
2 min read

Encounter specialist Daya Nayak leads the investigation

Saif Ali Khan

Mumbai: In a sensational development, an alleged cat burglar pussyfooted into Bollywood actor Saif Ali Khan’s Bandra home early on Thursday morning and stabbed him six times before fleeing the place, shocking the film and political fraternity.


The chilling incident happened around 2 am when the burglar hopped onto a 7-8 feet tall boundary wall of an adjoining bungalow, entered the building compound, took the stairs to the royal Khan’s 11th floor residence in the posh ‘Satguru Sharan’, slipping past the building security guards, CCTVs and some private security personnel.


Though it is not clear how he managed to enter the Khan flat – police are probing a possible ‘inside’ hand – it is suspected that a woman employee may have let him inside.


There the duo ostensibly had an altercation in which the intruder attacked the woman who let out a scream, alerting Saif who was asleep in his bedroom and he darted outside to check on the commotion.

As per officials, Saif intervened to stop the intruder, who turned back and brutally pounced on him with a small knife.


In the ensuing scuffle, the thief ended up stabbing Saif multiple times, and also hit the maid before dashing away from there, even as other stunned Khan family members rushed out of their rooms.


Saif, 55, who suffered two serious wounds including one 10 cms long, two intermediate gashes and two abrasions on the neck and arms, was rushed to the Lilavati Hospital by his son in an auto rickshaw as their car was not ready for treatment and a surgery later in the morning.


Later in the evening, the police recovered a CCTV grab of the assailant who was sporting a dark t-shirt and trousers, a backpack and his face clearly visible, and some unconfirmed reports suggested that he was hiding in the flat for several hours.


Lilavati Hospital COO Dr. Niraj Uttamani and Dr. Nitin Dange said that the doctors extracted a piece of the knife blade which snapped and got embedded dangerously near the actor’s spine.

The surgery involved removing the knife piece of around 3 inches, stopping the leakage in the spinal fluid and conducting plastic surgery to repair the wounds.


Dr. Uttamani announced that the actor was safe, stable and recovering well, he was shifted to the ICU for one day’s observation after which the further course of treatment will be decided.


Zone IX Deputy Commissioner of Police Dixit Gedam who rushed to the spot said that from preliminary investigations, the motive behind the murderous attack appeared to be robbery, but ruled out a mafia angle.

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