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Most families from our experience tend to avoid discussing investment transparently. This results in mismatch of financial goals.

“`Here are a few tips we@ Marketpower.in wish to offer:“

Be cautious of high-cost debt:

Beware of personal loans and credit card debts.

Plan contingency fund:

Imagine situation in family where income has come to a standstill due to loss of

employment, an accident that leads to temporary disability, and so on. So, we recommend 3 months household expenses into savings account/Bank FD where it is accessible. The balance, we will profile you & prepare a practical plan depending on your life goals!

Life insurance policy- a must:

This is particularly when there’s a dependent within the family – housewife, elderly parents & childrens. We recommend to buy a term insurance policy & suggest our clients to avoid buying an insurance-cum-investment product as they despite paying a high premium every year, may not have adequate life cover.

Health insurance policies buy – for peace of mind:

To keep pace with rising healthcare costs, we recommend family floater policy with rider of accident cover and critical illness policy for added protection. Be aware of the insurer’s policy regarding pre-existing diseases, sub-limits, exclusions, renewability & claim loading to avoid unpleasant shock in the event of claims.

Avoid creating assets at cost of heavy debts:

When taking a home loan, personal loan etc. to create assets, families should stick to prudent limits. We suggest the total of car & home loan EMIs should not exceed 33 per cent of their gross income, else cash-flow maybe an issue.

Goal-based planning:

We suggest to plan investment goals into short, medium and long-term goals to ensure a happy financial freedom post retirement.

Now, based on my life experiences, I’d like to put down my approach your Retirement Financial (reverse calculation) for fulfillment & Happiness‚

Looking for a early/later retirement with sense of satisfaction? @Marketpower.in we’ve insights for all. While this generation is looking at nos.(age) for retirement after fulfilling their worldly responsibilities, the aspirations of millennials are different from those of their parents’ generation. Upon our interviews, we find that youth’s today looked forward to a quiet life after retirement (@early age), pottering around the house, enjoying their hobbies, going for tours or spending time with family and friends. The prospect of enjoying an early retirement with the funds set aside for those goals planned makes all the difference. Not spending on show-shaw or events like lavish weddings expenses in lieu of simple marriage functions is the way to achieve smart retirement after fulfilling below important considerations, we suggest:

Funding higher education:

Higher education has always been significant as it opens up doors to better job opportunities & a better life. Prioritising higher education over a luxurious spending is an investment that is likely to pay much higher dividends.

Building an emergency fund:

We @Marketpower.in suggest to have at least four months’ worth of expenses as a cushion against any unforeseen challenges that life may throw your way such as losing your job, recovering from an illness/ accident, or helping your family out; knowing that you have an emergency fund & insurance can give you peace of mind that is more valuable than the excitement of show-shaw luxurious spending.

Securing family assets:

In India, it’s a common practice to liquidate family assets such as property, stocks, or jewellery, to fund occassions like wedding or separation… thereby losing valuable capital appreciation. Plan for these & understand of choosing to have an economical wedding that fits within your budget is a smart way to ensure that your family assets are not liquidated and continue to appreciate. Long-term capital appreciation over short-term gratification is a win-win for all!

Never ever rely on loans:

Loans come with hefty interest charges & in that sense, getting it may seem like an easy thing to do until you have to start paying off the loan. This leads to a financial burden on the family. So, be sensible to identify the need of taking any kind of loans.

Lastly,

It is important to get professional advice to do financial planning. Feel free to contact as below

Author:

Jayesh Sodha, Business Coach, Founder, CEO: Marketpower.in (India)

WhatsApp)) 9699145959/ Mob))9699477747 Email: sodhajayesh@yahoo.co.uk

Your website is the face of your business. So, you’d not just want a great name but also keep its content up to date and also would like to keep its design modern that make your site more user-friendly and technologically relevant.

So, if you have to buy/sell a website relevant to your business plan, what is the site really worth? “What anyone is willing to pay for it!” That’s the real answer!. Ask six website buyers what they think your website is worth, and you’re likely to get six different answers. Each buyer would likely have a different valuation number and potentially a different approach for creating the valuation.

For instance, someone would value by determining key word/ phase of domain itself that drive the majority of traffic; while someone would value mathematically on Cost to Build Site + Cost to drive the same amount of traffic + Time Factors in addition to the Opportunity Cost. Still someone would have another viewpoint in valuation viz. Database worth from list of customers/ prospects – taking into account the LTV – Life Time Value of a customer when taking into consideration the working capital/ expenditure of running the business and the acquisition cost of a customer. So, once the valuing buyer understands the LTV, he can take his judgement on how much he can spent for a site that will generate ‘x’ number of customers.

Thus, buyers are usually willing to pay a multiple of the earnings of a business to acquire it. His Investment versus Risk would normally account for ‘ELASTIC-M’:

Earning prospect with consistency;

Market Leadership and Branding;

Automated System in place;

Unique Selling Proposition (USP);

Diverse Traffic sources;

Increasing Growth;

Cost of Development;

Multiple Revenue stream.

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Source: http://marketpower.in/2017/08/25/website-valuation/ (Author: Jayesh Sodha)

Advantage >> Take-over of Jayesh_SME websites:

• Well-thought and marketed websites with premium Domains

• Business Plan ready with bright prospects of business expansions

• Reputation of Jayesh Sodha with his credential as author, decades of entrepreneurship experience and innovator-Award-winner!!!

Covid pandemic has made every business leader rethink strategic opportunities in terms of cross-industry digital ecosystems - with customer-focused, increasing productivity, and WFH staff with newer roles!

Thus, the old longstanding attitudes and beliefs of many executive staff and associated partners is been challenged due to the transformation by the digital revolution. But, one must always remember the quote, "Progress is impossible without change, and those who cannot change their minds cannot change anything." Thus, it is crucial for a business leader and his team to go out there with that individual mind-shifts and group dynamics to create a winning strategy.

Jayesh Sodha says, "The new digital ecosystem in business is the highway where our businesses, as well as competitors, will drive on the same road, but adaptability and speed matters." Perhaps, the newer thinking demands business leaders to abandon long-held beliefs about such matters as whether to work with competitors, how much business partners can be trusted, who would be the biggest competitor, and what customers value most. Under circumstances, J.Sodha advises their clients to get insights into how customers accomplish their end-to-end process instead of going into the past historical data to understand how it was solved earlier.