The hidden costs of family financial dependence—and how to strike a balance
Understanding financial enmeshment Financial enmeshment occurs when family members are overly involved in each other’s financial matters—a situation with nonexistent boundaries. Historically, the joint family system in India fostered financial interdependence, where multiple generations lived together and shared resources. However, as modern families shift towards nuclear structures, these traditional expectations persist, creating tension between collective […]
Retirement Planning: How to achieve early retirement bliss? A step-by-step guide
Early retirement can indeed be a cherished goal for many individuals, despite the challenges that may accompany its pursuit. Early retirement necessitates accumulating enough savings to sustain oneself potentially for decades, demanding considerable financial discipline and sacrifices, particularly for those early in their careers. Also, medical expenses can significantly deplete retirement savings, especially in the […]
How To Get Rich Through Business Ownership
How To Get Rich Through Business Ownership getty There are many paths you can take if you want to get rich in your lifetime, from investing in stocks and real estate to climbing the corporate ladder. However, I firmly believe that business ownership stands out as the most effective strategy for building significant wealth. Business […]
How to plan educational loan repayment effectively? MintGenie explains
According to the data shared in parliament, during a Lok Sabha session in February 2023, student loans amounting to ₹39,268.82 crores were disbursed over the past decade. Embarking on the education loan journey marks the initial stride towards financial independence for students, and responsibly repaying it is essential to build a healthy credit score. Therefore, […]
Retirement Revolution: How to use the 555 formula to retire early?
The onset of the new year prompts a sensible commitment to dedicating daily hours to enhance one’s understanding of personal finance. Our journey begins with an exploration of the rule of 72, paving the way for investors to delve into aligning their investment strategies with retirement planning. Recognizing that not everyone aspires to work indefinitely, […]