am glad that our small quarterly magazine "Life-A Promise" has published on time. The extraordinary achievements of the children always motivated me. I am proud to be able to highlight the achievements of some of the children of Shillong in this issue.. Everbloom K. Nongrum, Miss Bipasha Dhar, Master Arman Sharma, Master Saruya Kanuar, Miss Debashmita Chakraborty these five little children has done extraordinary jobs in their respective field. This issue is the witness of their achievements. Our Best Wishes to these little kids. Gopinath Sir's wonderful article is like a gift to us. We must read again and again "Why Discipline savings is always ahead than financial intelligence". With your good wishes and love, I will go ahead with something new again. Thank you.
I am glad that our small quarterly magazine "Life-A Promise" has published on time. The extraordinary achievements of the children always motivated me. I am proud to be able to highlight the achievements of some of the children of Shillong in this issue.. Everbloom K. Nongrum, Miss Bipasha Dhar, Master Arman Sharma, Master Saruya Kanuar, Miss Debashmita Chakraborty these five little children has done extraordinary jobs in their respective field. This issue is the witness of their achievements. Our Best Wishes to these little kids. Gopinath Sir's wonderful article is like a gift to us. We must read again and again "Why Discipline savings is always ahead than financial intelligence". With your good wishes and love, I will go ahead with something new again. Thank you all.
Our quarterly magazine "LIfe-A Promise" has blossomed in a new way. It is only with your blessings that we have been able to republish this magazine amidst the sweet fragrance of festivals. Thank you all. I would urge everyone to read Gopinath Sir's article. We are very happy to be able to print beautiful writings of the youngest students of Shillong. We need blessings from all our readers and well wishers
This presentation is made by students of ACPCE - Anamika Mishra, Kirti Karawde, Prathamesh Mahadik, and Ritik Kale.
This presentation introduces the concept of financial literacy to the young generation. It also gives tips on how to go from financially crippled to financially able.
The reality is there is no link between what you earn and how well you manage your money. That is good news for everybody. It simply means that regardless of our earning levels, we can all learn good money management habits and we can all aspire to a good level of financial security. Indeed, we can do more than just aspire; we can actually do something to achieve that financial security during our lifetimes.
I am glad that our small quarterly magazine "Life-A Promise" has published on time. The extraordinary achievements of the children always motivated me. I am proud to be able to highlight the achievements of some of the children of Shillong in this issue.. Everbloom K. Nongrum, Miss Bipasha Dhar, Master Arman Sharma, Master Saruya Kanuar, Miss Debashmita Chakraborty these five little children has done extraordinary jobs in their respective field. This issue is the witness of their achievements. Our Best Wishes to these little kids. Gopinath Sir's wonderful article is like a gift to us. We must read again and again "Why Discipline savings is always ahead than financial intelligence". With your good wishes and love, I will go ahead with something new again. Thank you all.
Our quarterly magazine "LIfe-A Promise" has blossomed in a new way. It is only with your blessings that we have been able to republish this magazine amidst the sweet fragrance of festivals. Thank you all. I would urge everyone to read Gopinath Sir's article. We are very happy to be able to print beautiful writings of the youngest students of Shillong. We need blessings from all our readers and well wishers
This presentation is made by students of ACPCE - Anamika Mishra, Kirti Karawde, Prathamesh Mahadik, and Ritik Kale.
This presentation introduces the concept of financial literacy to the young generation. It also gives tips on how to go from financially crippled to financially able.
The reality is there is no link between what you earn and how well you manage your money. That is good news for everybody. It simply means that regardless of our earning levels, we can all learn good money management habits and we can all aspire to a good level of financial security. Indeed, we can do more than just aspire; we can actually do something to achieve that financial security during our lifetimes.
Financial literacy in india PDF & Why we Need it.shinxindia31
In this PDF, We will talk about What is the proper meaning of Financial Literacy in India and Why it is important. And Also Financial literacy and financial education.
Why India needs to work on financial literacyPowertome
Finance is an important part of our lives. It holds all the pieces of our life together. But, if we raise the topic of financial literacy many of us will look clueless. The condition is even more critical for developing nations like India.
Moneycation april 2015 newsletter; volume #3, issue #9A.W. Berry
Investing is a life-long process. People invest in themselves, in their careers and in other things. Financially speaking, investing in financial instruments helps prepare people for the future whether it be for retirement, a home or additional investments. Knowing what to invest in at different stages of life is a part of that process.
Financial literacy in india PDF & Why we Need it.shinxindia31
In this PDF, We will talk about What is the proper meaning of Financial Literacy in India and Why it is important. And Also Financial literacy and financial education.
Why India needs to work on financial literacyPowertome
Finance is an important part of our lives. It holds all the pieces of our life together. But, if we raise the topic of financial literacy many of us will look clueless. The condition is even more critical for developing nations like India.
Moneycation april 2015 newsletter; volume #3, issue #9A.W. Berry
Investing is a life-long process. People invest in themselves, in their careers and in other things. Financially speaking, investing in financial instruments helps prepare people for the future whether it be for retirement, a home or additional investments. Knowing what to invest in at different stages of life is a part of that process.
Financial Planning - Helping You Sail Successfully into the FutureFrank Wiginton
This is a short e-book I wrote to help dispel some of the myths about financial planning and educate the public on what financial planning really is and what it can do and provide.
In this article we will be discussing the significance of financial planning, how every individual must – must make effective use of money, and why/how the professional may consider this as another unique area of service to use their expertise for
http://ekinsurance.com/financial/retirement/
If you are near retirement or have retired, listed below are several common mistakes that occur in the arena of financial planning for retirement that you can plan now to avoid.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Introduction to Indian Financial System ()Avanish Goel
The financial system of a country is an important tool for economic development of the country, as it helps in creation of wealth by linking savings with investments.
It facilitates the flow of funds form the households (savers) to business firms (investors) to aid in wealth creation and development of both the parties
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
The Evolution of Non-Banking Financial Companies (NBFCs) in India: Challenges...beulahfernandes8
Role in Financial System
NBFCs are critical in bridging the financial inclusion gap.
They provide specialized financial services that cater to segments often neglected by traditional banks.
Economic Impact
NBFCs contribute significantly to India's GDP.
They support sectors like micro, small, and medium enterprises (MSMEs), housing finance, and personal loans.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
1. 1
Life
A Promise
Nayan Bhowmick
Vol. IV
For Private Circulation Only
ISSUE - III (July-September’2021)
Email : nayanbhowmicklic@gmail.com
Designed and Printed by Titu Bhowmick | 9774976410
Aswegrowoldwe worklessandconsequentlyearn less,andthereforeweneed
a secure source of income to see us through the rest of our lives.
“Income security in our old age must come from sustained preparation during
working years.”
Retirement planning is an important part of today’s practice. And, Retirement is the most important phase
of our lives. From both personal and financial perspective, realizing the important goal of a comfortable
retirement is an incredible extensive process that takes sensible planning and sustained preparation during our
working years.
Therefore we need the right financial advisor. I have advocated often about the need for financial advisors
and wealth managers to assist our clients, not only on pensions, legacy planning and tax planning, but also on
how best to create a well structured retirement strategy. A strategy that includes a balanced leisure lifestyle,
health and wellbeing plan and other holistic retirement actions and goals.
Why do many retiree fail at retirement?
Even though retirement should be a lifetime highlight, it can be a lot like a marshmallow.Marshmallow
is a type of confectionery that is typically made from sugar, water and gelatine whipped to a solid but soft
consistency. Retirement is also soft and sweet in parts but also gooey to the point of getting bogged down and
unable to move forward.
Thereisoftenablissfulhoneymoonfeelingduringthefirstdays,weeksormaybeevenmonthsofretirement.
Life is wonderful. No more stress, no more boss, job, worries. But as honeymoon period wind down, retirement
will be no longer feels like an extended holiday.
The National Institute of Health (USA) report that of the 35 million Americans age 65 or older, about 2
million suffer from full-blown depression. Another 5 million suffer from less severe form of the illness.
Many pre-retirees start out looking at retirement through a broken lens. A distorted view that tends to focus
more on money than the individual. Many financial advisors, planners, retirement experts are also give their
focus on retirement income only but not on emotional aspect of the retiree. These retirees are may be under an
Emotional Recession.
Ourspecialfocuswillbetocreateawaytohelppeoplere-envisiontoretirementplanninginamorepersonal
andmeaningfulway.Toassistmanyindevelopingandapplyingalevelofretirementreadinessthatgoesbeyond
just the rupees or income to include mental, social, physical and spiritual aspects.
Oureffortswillcontinue.Iwouldliketorequestallthereveredreaderstofollowthe articlesofSirGopinath.
He is giving us his unique and incomparable writings to all issues of “Life-A Promise.”
It does not require wisdom to grow old but only his wisdom and
courage in young age alone can help an old man live gracefully and
comfortably.
Our journey has begun. Many thanks to all the readers. Stay
healthy stay well.
Nayan Bhowmick
Development Officer
Senior Business Associates
L.I.C. of India, Shillong Branch
2. 2
Life A Promise
2
Gopinath Radhakrishnan
Gopast Centre For Learning Pvt. Ltd.
Former MD/CEO at LIC Lanka
gopinathr@go-past.com
Of late I have been reading articles in some financial newspapers
and magazines advising that customers must de-link insurance and
investment. More specifically on Endowment type of insurance
policies that offer a savings portion along with the risk cover. In many
countries this is known as cash value policies. So the magazines claim
that the customer must buy a term cover from an insurance company
and for savings or investment he must look for other sources and not
from insurance companies. IT IS NOT AN INTELLIGENT CHOICE,
that is what they say. But are they correct in saying so?
They claim that by opting to save money through insurance policy
the investor is loosing heavily and if only he would save the money
through other savings media he will be far more benefited because
those instruments offer a higher Return on Investment (ROI)
compared to what Endowment policies offer.
In the last 30 years of my experience in the financial services industry
I have come across thousands of investors.
At the beginning of my discussion I ask them what they would like to
achieve through their investments or simply put what they want?
Mostly people say, “I want high returns”
Then I ask them”Why?”
They say, “So that I have more Money”.
Now I ask them “Do you want more money or do you want to earn
more Return (ROI)?”
They say “Aren’t both the same?”
What many people do not know is that More ROI does not mean you
will always end up with more money.
Now I ask them why do you want more money, They say, “So that I can
be happy or I can be independent”
Now I ask them let us define clearly as to what do you really want
amongst the three above?
1) More ROI or 2) More money or 3) More Happiness (or a feeling of
independence )?
Stephen Covey a noted management guru and author has authored a
book “Seven habits of highly effective People” One of the habits of that:
“BEGIN WITH THE END IN THE MIND”
In discussing the habit he says, we are all busy climbing ladders, but let
us check if the ladder is leaning on the right wall. So what is the end
result you want to achieve? High returns (15%+ IRR) or to have more
Financial Discipline Vs
Financial Intelligence
The Former Wins Most Of
The Times; Hands Down
money or to have a happy and fulfilling life/ independence?
You find advertisements saying that Mutual Fund Sahi Hai (Meaning
That Mutual Funds are the right choice) My question is for whom? For
what purposes? In what circumstances?
Doesthismeanthatothersavingsinstrumentarewrongchoice?Isthis
ladder leaning on the correct wall?
The person who established the Wharton university had a very good
understanding of the role of finance in a person’s life. That is why he
had advocated that the students pursuing any subject for graduation
be it mathematics or science or social science or language, must be
taught the fundamentals of personal financial management.
A person can have adequate money if he is able to stick to the
fundamental principles that govern finance rather than go in search of
the highest yielding financial instruments.
A person can have adequate money if he is able to stick to the
fundamental principles that govern finance rather than go in search
of the highest yielding financial instruments.
A person can have adequate money if he is able to stick to the
fundamental principles that govern finance rather than go in search
of the highest yielding financial instruments.
A person can have adequate money if he is able to stick to the
fundamental principles that govern finance rather than go in search
of the highest yielding financial instruments.
3. 3
Life A Promise 3
THREE main facts that are ignored in estimating the power of savings
through an endowment type of insurance policies are:
Other savings instruments Endowment policies
It is just a resolution to save
money
It is felt as a financial obligation
Temptation to withdraw
money on noticing a sizeable
money accumulated
Withdrawal attracts penalty
When the profits are varying
there is a temptation to
book the profits so as not to
loose that gain and when the
instrument is making loses
there is drive to pre-close and
get out with whatever remains
Definite reward for loayalty
Let me show you how the money earned on maturity and the IRRs
differ according to the differential behaviour of the investor. In the
present scenario a young man buying an endowment policy based on
the bonus structure so far declared can expect the following:
When a person decides to contribute ₹12,00,000 every year into the
policyandhasboughtit,heknowshehastogivethismoneyeveryyear.
If during the later years he says he would like to give ₹10,00,000 in a
year and compensate the balance in the coming years, it is not possible
in this contract. This fact itself makes him feel this commitment as a
financialobligation.Heknowsthecompanywillnotaccept₹10,00,000
in renewal premium.
YR REGULAR
1 -12,00,000
2 -12,00,000
3 -12,00,000
4 -12,00,000
5 -12,00,000
6 -12,00,000
7 -12,00,000
8 -12,00,000
9 -12,00,000
10 -12,00,000
11 -12,00,000
12 -12,00,000
13 -12,00,000
14 -12,00,000
15 -12,00,000
16 -12,00,000
17 -12,00,000
18 -12,00,000
19 -12,00,000
20 -12,00,000
4,80,00,0000
IRR 6.22%
The total amount contributed by the person is ₹2,40,00,000 While
saving the same amount through any other instrument, he is just
making a resolution to save the amount of ₹ 12,00,000 regular for 20
years.
We know what happens to our new year resolutions, birthday
resolutions,resolutionsrelatedtoregularphysicalexercises,resolutions
byastudenttostudyonechaptereveryweekandfinishthewholebook
in the first half year of the academic year. MOST OF THE TIMES
THE RESOLUTIONS ARE BROKEN AND RENEWED AGAIN:
YR REGULAR FLEXIBLE
1 -12,00,000 -12,00,000
2 -12,00,000 -1,00,000
3 -12,00,000 -50,000
4 -12,00,000 -1,50,000
5 -12,00,000 -12,00,000
6 -12,00,000 -1,00,000
7 -12,00,000 0
8 -12,00,000 -2,00,000
9 -12,00,000 -1,50,000
10 -12,00,000 -8,00,000
11 -12,00,000 -12,50,000
12 -12,00,000 0
13 -12,00,000 -26,00,000
14 -12,00,000 -1,00,000
15 -12,00,000 -12,00,000
16 -12,00,000 -3,00,000
17 -12,00,000 -36,00,000
18 -12,00,000 -24,00,000
19 -12,00,000 -12,00,000
20 -12,00,000 -74,00,000
4,80,00,0000 3,60,50,000
IRR 6.22% 6.22%
Any instrument where he saves the same ₹2,40,00,000 but in his own
style, with the same IRR would have got only ₹3,60,50,000.What if his
target was ₹4,80,00,000 on maturity?
YR REGULAR FLEXIBLE FLEXIBLE
1 -12,00,000 -12,00,000 -12,00,000
2 -12,00,000 -1,00,000 -1,00,000
3 -12,00,000 -50,000 -50,000
4 -12,00,000 -1,50,000 -1,50,000
5 -12,00,000 -12,00,000 -12,00,000
6 -12,00,000 -1,00,000 -1,00,000
7 -12,00,000 0 0
THREE main facts that are ignored in estimating the power of
savings through an endowment type of insurance policies are:
OTHER SAVINGS INSTRUMENTS ENDOWMENT POLICIES
IT IS JUST A RESOLUTION TO SAVE MONEY IT IS FELT AS A FINANCIAL OBLIGATION
TEMPTATION TO WITHDRAW MONEY ON
N O T I C I N G A S I Z E A B L E M O N E Y
ACCUMULATED
WITHDRAWAL ATTRACTS PENALTY
WHEN THE PROFITS ARE VARYING THERE IS
A TEMPTATION TO BOOK THE PROFITS SO AS
NOT TO LOOSE THAT GAIN AND WHEN THE
INSTRUMENT IS MAKING LOSES THERE IS
DRIVE TO PRE-CLOSE AND GET OUT WITH
WHATEVER REMAINS
DEFINITE REWARD FOR LOAYALTY
4. 4
Life A Promise
4
8 -12,00,000 -2,00,000 -2,00,000
9 -12,00,000 -1,50,000 -1,50,000
10 -12,00,000 -8,00,000 -8,00,000
11 -12,00,000 -12,50,000 -12,50,000
12 -12,00,000 0 0
13 -12,00,000 -26,00,000 -26,00,000
14 -12,00,000 -1,00,000 -1,00,000
15 -12,00,000 -12,00,000 -12,00,000
16 -12,00,000 -3,00,000 -3,00,000
17 -12,00,000 -36,00,000 -36,00,000
18 -12,00,000 -24,00,000 -24,00,000
19 -12,00,000 -12,00,000 -12,00,000
20 -12,00,000 -74,00,000 -74,00,000
4,80,00,0000 3,60,50,000 4,80,00,000
IRR 6.22% 6.22% 9.81%
This means to earn the same amount of ₹4,80,00,000 he must be
gettinganyieldof9.81%.Thatmeanshehastotakeariskonthecapital
invested. Taking risk means investing in Volatile instruments. When
he follows the volatile curve will he have peace of mind? And even
after that what has he achieved the same ₹4,80,00,000. So he achieved
more IRR but ended up with the same amount of money.
Look at another scenario where he withdraws money in-between:
Here you observe he had withdrawn money twice in-between and
did not compensate it, so even with 11.27% IRR he had a total benefit
of ₹4,80,00,000. 11.27% is a high yield compared to 9.81% and much
more than 6.22% close to double but the end result in terms of amount
of money is the same.
YR REGULAR FLEXIBLE FLEXIBLE WD
1 -12,00,000 -12,00,000 -12,00,000 -12,00,000
2 -12,00,000 -1,00,000 -1,00,000 -1,00,000
3 -12,00,000 -50,000 -50,000 0
4 -12,00,000 -1,50,000 -1,50,000 -8,00,000
5 -12,00,000 -12,00,000 -12,00,000 -10,00,000
6 -12,00,000 -1,00,000 -1,00,000 -8,00,000
7 -12,00,000 0 0 25,00,000
8 -12,00,000 -2,00,000 -2,00,000 -15,00,000
9 -12,00,000 -1,50,000 -1,50,000 -50,000
10 -12,00,000 -8,00,000 -8,00,000 -12,00,000
11 -12,00,000 -12,50,000 -12,50,000 -1,00,000
12 -12,00,000 0 0 25,00,000
13 -12,00,000 -26,00,000 -26,00,000 -1,50,000
14 -12,00,000 -1,00,000 -1,00,000 -24,00,000
15 -12,00,000 -12,00,000 -12,00,000 -12,00,000
16 -12,00,000 -3,00,000 -3,00,000 -3,00,000
17 -12,00,000 -36,00,000 -36,00,000 -24,00,000
18 -12,00,000 -24,00,000 -24,00,000 -36,00,000
19 -12,00,000 -12,00,000 -12,00,000 -12,00,000
20 -12,00,000 -74,00,000 -74,00,000 -60,00,000
4,80,00,0000 3,60,50,000 4,80,00,000 4,30,00,000
IRR 6.22% 6.22% 9.81% 11.27%
Lookatanotherscenariowhereinhecompensatesfortheamountthat
he had withdrawn and if he had achieve the same IRR of 6.22% he
would have ended up with an amount of money as shown hereunder:
All the above illustrations show us the advantage of a financial
obligation vis-a-vis flexible and also the advantage of the threat of
penalty on withdrawal.
YR REGULAR FLEXIBLE FLEXIBLE WD WD
1 -12,00,000 -12,00,000 -12,00,000 -12,00,000 -12,00,000
2 -12,00,000 -1,00,000 -1,00,000 -1,00,000 -1,00,000
3 -12,00,000 -50,000 -50,000 0 0
4 -12,00,000 -1,50,000 -1,50,000 -8,00,000 -8,00,000
5 -12,00,000 -12,00,000 -12,00,000 -10,00,000 -10,00,000
6 -12,00,000 -1,00,000 -1,00,000 -8,00,000 -8,00,000
7 -12,00,000 0 0 25,00,000 25,00,000
8 -12,00,000 -2,00,000 -2,00,000 -15,00,000 -15,00,000
9 -12,00,000 -1,50,000 -1,50,000 -50,000 -50,000
10 -12,00,000 -8,00,000 -8,00,000 -12,00,000 -12,00,000
11 -12,00,000 -12,50,000 -12,50,000 -1,00,000 -1,00,000
12 -12,00,000 0 0 25,00,000 25,00,000
13 -12,00,000 -26,00,000 -26,00,000 -1,50,000 -1,50,000
14 -12,00,000 -1,00,000 -1,00,000 -24,00,000 -24,00,000
15 -12,00,000 -12,00,000 -12,00,000 -12,00,000 -12,00,000
16 -12,00,000 -3,00,000 -3,00,000 -3,00,000 -3,00,000
17 -12,00,000 -36,00,000 -36,00,000 -24,00,000 -74,00,000
18 -12,00,000 -24,00,000 -24,00,000 -36,00,000 -36,00,000
19 -12,00,000 -12,00,000 -12,00,000 -12,00,000 -12,00,000
20 -12,00,000 -74,00,000 -74,00,000 -60,00,000 -60,00,000
4,80,00,0000 3,60,50,000 4,80,00,000 4,30,00,000 3,44,50,000
IRR 6.22% 6.22% 9.81% 11.27% 6.23%
In the beginning i had asked him does he want more Returns? More
money? or Happiness?
All these illustrations in flexible and WD are just assumed amounts.
You can change this according to your wish and arrive at IRRs and
decide for yourself the power of Financial discipline. Here I consider
earning a higher IRR need financial intelligence in terms of selecting
stocks, timing and knowledge of technical analysis and other aspects.
Experts, who have experienced the investor behaviours during volatile
movements and those who have studied the investors’ psychology will
never undermine the value of an instrument that offers a system that
ensures disciplined investment merely on the fact that if offers a lower
IRR.
I will be discussing about happiness and money in the coming issue
of “Life - A Promise” drawing information from the speeches of Dr
Daniel Kahneman, Dr Richard Thaler and other behavioural analysts
and economists.
But for now if you are an advisor or if you are an investor reading
this article, be informed about the use of this age-old insurance cum
savings product.
We must estimate the probability of loss and the probability of gain
and the effect of this growth or reduction on our wealth consciously
and then and only then take an action (investing).- Thirukural 461. r
5. 5
Life A Promise 5
Nayan Bhowmick
Many times, God gives us new challenges. If we think
we are specially designed and equipped and act
accordingly, than we can face our challenges and move
forward with more vigour to carry out more extraordinary
works. Challenges are nothing new to us. Today I will talk
about a person who always makes me think why and how these
extraordinary people face their challenges in life and succeed.
This is the story of Ms Basanti Kumari, from a place called
Sindri situated in the state of Jharkhand, India. She is the eldest
of five daughters born to a low income family. Her father, late
Madhav Singh was a foreman at the Fertiliser Corporation
of India, Sindri and her mother Late Prabhavati Devi was a
homemaker. When Basanti Kumari was born, her parents were
shocked to see a lump of meat in place of hands of their newly
born baby. The concerned parents visited all kinds of physicians
and witch doctors in search of rectifying their daughter’s arm.
But every effort was in vain. With no choice her parents opted
not to send Basanti to school as she was unable to use her hands.
But Basanti had a strong will, she started mastering daily
activities with her legs. And at the age of six, Basanti’s progress
gave full confidence to her parents to get her admitted to a
regular school. From childhood she had a dream of becoming
a teacher. Thus she joined Rajendra Madhya Vidyalaya in
Sindri and passed Class X examination in 1993. She joined the
intermediate course and on successful completion, Ms Basanti
took her graduation in Sociology from Sindri College in the
year 1999. She was contented with this accomplishment as
she was able to carry out all her educational activities without
depending on others.
Basanti always kept her eyes on her goal of becoming a
teacher and she groomed herself towards her dream. By the
time Ms Basanti could complete her BA, her father was affected
by paralysis. Her brother also lost his job. All these incidents
vested the responsibility of running the family on her shoulders.
After a long struggle, she got a job as a contractual Para teacher
at Rorabandh Karmik Middle School in 2005. She opines that
her disability to use hands has not come in her way as a teacher.
“I am used to doing a lot of things with my feet and toes since
childhood. I write notebooks with my toes too. My father, till his
death, never stopped encouraging me.” Basanti Kumari said.
She also revealed that with continuous practice and
balancing her body, she was able to master the art of writing
with a leg on the blackboard. She developed a new competency
to give shape to her dream. She also admits that God has blessed
her with a more flexible left leg, though she has a challenge that
she is deprived of hands.
The Human Spirit
Is To Grow Strong
By Conflict
6. 6
Life A Promise
6
My best wishes to this inspiring soul who kept her focus on
her dream with tremendous confidence on herself. My salute to
Ms Basanti! She had zeal to develop a new competency while
she was physically challenged since her birth.
What I learn from this real life story, I will to try to explain
diagrammatically.
The position we are now today is our Present Position. Let us
call it “P”. Now let us say after 5 years if we remain in the same
position that we are today or we make a slight improvement,
even then, we will call that position “P”. We prefer this journey
from present ‘’ P” to future “ P” because it is comfortable
and less painful. It may be called “maintaining P” journey.
Maintaining this “P” journey is not very challenging because
we can do so with our already acquired knowledge and skills.
But it is also a fact that all of us have dreams in life. The dream
may be scoring good marks in the case of students, reaching a
higher position or developing new expertise for professionals
or business leaders; meaning any change from position “P” to a
better, higher level. I call this position as “D”. But the journey
from present position{P} to our dream{D} is demanding. It
requires great determination and the willingness to work hard.
When we start from “P” towards our dream, many a times we
face some unwanted, unexpected challenges. Perhaps God tests
if we are worthy of achieving our dreams by giving us these
trials and tribulations. These ordeals may be our critical illness,
death of our close family members, pandemic like COVID 19
etc. which may make us sad, depressed or devastated. If we are
unable to come out strongly from these troubles, we gradually
start crawling towards “Lost” situation; represented by “L”. It
also a fact that we are not responsible for this lost position. We
have not created this “L”.
In case of Ms Basanti, her physical disability was not created
by her.
To bounce back to “D” from “L” is tough to say the least.
Many of us will be satisfied if we can reach from lost to present
position. Some of us cannot even touch “P” and we start giving
excuses for our inability. On the other hand, there are few
amazing people like Basanti, who can rise up to the challenge
of “L” reach “P” and go beyond to reach ”D”. These people not
only achieve their dreams in spite of hardships, but also serve as
a source of inspiration to others.
There are 3 important qualities are a must to thrive from
“PRESENT” to “DREAM”. These are
1) Focus- Our life is controlled by our focus on.
2) Self belief: “They can .........because they think they
can.”- Unknown.
3) Competency.
Again, if we have to achieve “DREAM” from “LOST”,
our old competency may not work, we have to acquire NEW
COMPETENCY. Ms Basanti developed a NEW COMPETENCY
that is, writing on note book and on black board with her leg.
She developed a proper flexibility of her body to stand on left
leg and writes with right leg on black board.
In our case also, with proper focus towards our dream, with
tremendous self belief we can reach “DREAM 1” and not only
“day dream” by sticking to our old competency. Only and only
by acquiring NEW COMPETENCY, and developing FOCUS
and SELF BELIEF can we reach our DREAM, overcoming the
challenges of birth and circumstances. r
P P
D
L
FOCUS
BELIEF
COMPETENCE
PRESENT
DREAMS
LOST
D1
7. 7
Life A Promise 7
Everbloom K. Nongrum of
Mawryngkneng village in Meghalaya’s East
Khasi Hills district is just 12 but he displayed
courage which is often found lacking even in
adults. Nongrum, who got the Jeevan Raksha
Padak Award, 2019 awarded by the President of
India. He has saved the lives of his friends who
fell into an uncovered pit.
On July 17, 2019, David Sohtun (9), resident of
Mawryngkneng, fell into a 3 meter-deep hole
near a construction site that was left uncovered
and screamed for help. Everbloom than age 10
years, rushed to rescue and pulled him out of
the pit.
Again, on July 23, 2019, Wanphai Rani (8), a
resident of Mawryngkneng studying in class 3,
slipped and fell into the same hole and the ever
readyEverbloom, who again happened to be
there, saved his life.
We salute the courage of this magical boy,
Everbloom K. Nongrum.
Our best wishes to Master
Shaurya Kunwar,
a brilliant student of Class
V, secured first division on
Fine Arts. He also ranked
1st in drawing and painting
competition conducted by
the Army Public School,
Shillong.
Debasmita Chakraborty,
daughter of Sri Debashish
Chakraborty passed ICSE (Class
X) with 92.4% marks. Now,
she is studying at Army Public
School, Shillong with Science and
Computer. Her ambition is to
pursue higher studies with Physics.
Our best wishes to Debashmita and
her proud parents.
Achievers
8. 8
For Design & Print Call : Titu Bhowmick | 9774976410
Life A Promise
8
Arman Sharma, a
brilliant student who ranked
second in the International
Mathematics Olympiad. Our
good wishes to this small kid
of Shillong.
Miss Bipasha Dhar
passed her SSCE examination
with extraordinary results.
Her father Sri Biswajit Dhar
is the resident of Shillong RR
Colony. Our best wishes to
this brilliant child.