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By:

Kaustubh Kale

10 September 2024 at 6:07:15 pm

The Constitution of Your Money

On the eve of India’s Republic Day, we proudly remember the adoption of our Constitution - a document that gave structure, stability and direction to a young nation. It did not promise instant success, but it provided a framework strong enough to withstand crises, disagreements and change. Interestingly, the same philosophy applies to personal finance. Just as a nation cannot function without a Constitution, your money too needs a clear set of rules. Wealth is not built by chance or luck. It...

The Constitution of Your Money

On the eve of India’s Republic Day, we proudly remember the adoption of our Constitution - a document that gave structure, stability and direction to a young nation. It did not promise instant success, but it provided a framework strong enough to withstand crises, disagreements and change. Interestingly, the same philosophy applies to personal finance. Just as a nation cannot function without a Constitution, your money too needs a clear set of rules. Wealth is not built by chance or luck. It is built by discipline, structure and long-term thinking. Right to Financial Dignity The Constitution guarantees citizens fundamental rights. In personal finance, you too have rights - the right to financial security, the right to dignity in retirement, and the right to protect your family’s future. These rights do not come automatically. They are earned through systematic investing, adequate insurance and prudent planning. Ignoring these rights early in life often leads to financial dependence later, something no individual truly wants. Responsibility of Discipline Along with rights come duties. Citizens are expected to uphold the values of the Constitution. Similarly, investors must uphold financial discipline. Saving regularly, investing sufficiently and consistently, avoiding unnecessary debt and living within one’s means are not optional habits - they are duties. Many people want wealth, but few respect the responsibility that comes with building it. Without discipline, even high incomes fail to create lasting financial stability. Managing Risk A strong republic survives because power is balanced across institutions. In finance, this balance comes from asset allocation and diversification. Long-term goals should be supported by inflation-beating assets such as stocks, mutual funds and gold. Money meant for short-term goals must be parked in safer avenues like bank fixed deposits, recurring deposits or debt mutual funds. This allocation ensures that you create wealth while also having liquidity for near-term expenses or emergencies. Equally important is protecting your assets with adequate health insurance and term life insurance. Evolving With Life Our Constitution allows amendments to stay relevant over time. Financial plans too must evolve. Income changes, family responsibilities grow, goals shift and priorities change. A plan made three years ago may not suit today’s reality. Reviewing and updating investments periodically is not a sign of uncertainty, but of maturity. Flexibility ensures relevance without abandoning core principles. Process Over Emotion A republic functions because laws are followed, not because emotions are trusted. Similarly, successful investing depends on process, not panic or excitement. Market highs and lows will come and go. Investors who react emotionally often do more harm than good. Those who follow a clear financial framework remain aligned with their long-term goals. As we celebrate Republic Day, it is worth reflecting that freedom alone is not enough - structure sustains freedom. A nation survives because its Constitution is respected. Wealth survives because financial discipline is respected. Your money deserves a Constitution of its own. (The writer is a Chartered Accountant and CFA (USA). Financial Advisor. He could be reached on 9833133605. Views personal.)

Won't take up official any official post after retirement:CJI Sanjiv Khanna

  • PTI
  • May 13, 2025
  • 1 min read


New Delhi: Chief Justice of India Sanjiv Khanna on Tuesday said though he wasn't going to accept any post-retirement official assignments, he would continue his innings in law.


Justice Khanna, who was elevated to the top court in January 18, 2029, was appointed as the CJI on November 11, 2024 and would be demitting office on Tuesday.


After the conclusion of the ceremonial bench proceedings, the CJI met journalists in the apex court premises and said, "I will not accept any post-retirement post. perhaps will do something with law."


Many former apex court judges begin their innings in arbitration post judgeship.


"I will have a third innings and will do something related to law," the CJI said.


Responding to a query related to the cash discovery controversy involving high court judge Justice Yashwant Vermam, he said, "Judicial thinking has to be decisive and adjudicatory."


He added, "We see plus and minus points and decide the issue, then rationally we weigh various factors that help us to make a right decision."


The CJI dealt with the cash row controversy following a news report, prompting him to take several steps, including a preliminary inquiry by Delhi High Court Chief Justice D K Upadhyaya, judicial work being taken away from Justice Varma in the Delhi High Court, and later his transfer to the Allahabad High Court sans judicial work.


After the in-house inquiry panel indicted the judge, the CJI nudged him to resign and later wrote to President Droupadi Murmu and Prime Minister Narendra Modi after Justice Varma refused to tender resignation.


On May 10, CJI-designate Justice B R Gavai also said no to any post-retirement assignments.

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