How do you want to end your 2012 ?
[box title=”Step 1 – Register” color=”#888″] The first step is to understand what is this Action Month all about and then Register.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.


[/box] [box title=”Step 2 – Review your 2012 and complete pending things” color=”#888″]

The next step is to review your 2012 and see if you are on track or not and then list down the pending items you want to complete before 2012 ends. When you register, you get a support excel sheet also. Wealth Club members already have access to review checklist tool

[/box] [box title=”Step 3 : Share your success story” color=”#888″] Once you complete your action month, you can then share your actions and what all you did, It would be a great thing to let others know of your success and how you ended your 2012 and have planned your 2013.
[/box]
ACTION MONTH IS CLOSED NOW
[note color=”#F7FFBF”]

Spread the Word ! . Share it with your Facebook friends

[/note]

{ 78 comments… read them below or add one }

SURESAN RAJA December 14, 2012 at 2:23 pm

I have register for Action Month. I am unable to download the pre-filled 30 items review list.in excel. Is it because I am not member of your Welath Club? Please help me.

Reply

Jagoinvestor Wealth Club Support December 15, 2012 at 12:07 pm

Yes Raja

Its because that sheet is only for members . For regular blog readers only the Support sheet is available . All you need to do for review points is pick all areas of your financial life which you want to check if you are on track or not .

Reply

Tribhuwan December 15, 2012 at 8:56 am

Please add “Personal accident and disability insurance”, review of current portfolio and adjusting the asset allocation accordingly to the actions list.

Reply

Jagoinvestor Wealth Club Support December 18, 2012 at 9:13 pm

Tribhuwan

It will be added in some other action month . For now , the items which are added are the sole focus.

Reply

santosh December 18, 2012 at 10:56 am

Such A Useful Website For New Person Who Want To Turn Themselves Towards Investment,

In Term Of Insurance Policy Or Other Programmer,

I Thinks To All Of Them Who Has Brought Such Platform.

Reply

Jagoinvestor Wealth Club Support December 18, 2012 at 9:12 pm

Santosh

THanks .. do you have any specific question ?

Reply

Parag Rodrigues December 18, 2012 at 1:10 pm

Hi Manish / Jago Investor Team,

Hope to find you ALL in Good health… 

I have recently joined wealth Club & feels good to take right decision. I have started scanning the available details & would continue to ask few set of queries thereby enabling me to take right direction towards financial security.

Based on Ready Reckoner list, following term plans have been recommended :-

Since my life cover is not adequate (current age : 31 yrs & coverage is : 25 Lacs only via LIC), I have decided to buy term plan. I checked for Aegon Religare Term plan & there are few benefits in comparison to above plans :-

1) It’s only term plan with Terminal Illness benefit  On diagnosis of any Terminal Illness, 25% of the base sum assured will be paid (max.of Rs.100 lacs) & the base sum assured will be reduced by an amount equal to the benefit paid under this clause

2) Longest coverage upto 75 yrs  Get coverage for a policy term between 5 to 40 years or upto age 75 (maximum)

3) Covers all forms of death, even terrorist attacks  Exclusion: In case of death by suicide during the first policy year, or within one year from the date of reinstatement, no death benefit is payable

4) One of Additional Rider  Waiver of Premium Rider on Critical Illness

Based on above points, I liked Aegon Religare plan to be more suitable when compared to HDFC & Kotak ePreferred. Interestingly, the term plan coverage off 50 Lacs is quite low when compared to other term plan (4.7k only). Quotes retrieved from Policy Bazaar :-

Could you please assist me if there is some hidden stuff from Aegon Religare which they may have not reflected in their brochure.

Aside, it is not reflected in the ready reckoner list. So, bit confused as to which one to buy out. Please suggest. I’ll wait for your opinion prior to go & buy term plan.

Thanks & Regards,

Parag Rodrigues

Reply

Jagoinvestor Wealth Club Support December 18, 2012 at 9:11 pm

Great 🙂 . Good that you started moving towards your actions .

To comments on your question . I would say,

There is no hidden agenda or rules of the company , Its true for any company ,the premium is decided by a company on many parameters and its beyond the scope to actually go deeper into that, but to tell you, if you are honest while declaring all your information while taking the policy, there is no problem in future. The premiums are cheaper for 50 lacs + because for higher cover there is always a benefit (pricing formula they have) . You will see its true for any company . Name of a company is not mentioned in a list , because at the end of the day , a policy will be suitable for you if you feel its features are made for you, in this case Religare policy is for you . Do not even think that its not on list , so it has something missing .

If you are comfortable with the company, if you trust them, its time to just move ahead and take action.

Let me know if you have any more questions on this particular point . Also note that incase you have any questions on this topic , you should ask it here only as its a dedicated page for action month questions.

Manish

Reply

Sharad December 27, 2012 at 1:06 pm

Yes, it is low premium policy, but one of the most important parameter for Term policy selection is claim settlement ratio, which is way greater for HDFC (around 95%), and Kotak (around 90 %) as compared to Aegon Religare, which was only around 52 % last year, not to mention, one of the worst in industry. I would suggest not to go with it.

Reply

Rajesh Kumar Jha December 18, 2012 at 10:18 pm

Its useful site.

Reply

Jagoinvestor Wealth Club Support December 26, 2012 at 8:02 pm

Thanks Rajesh !

Reply

SeshKumar Reddy December 21, 2012 at 5:38 am

Manish ..question ab’t Mutual funds, I have invested in Kotak and SBI tax saver mutual funds in 2007 through ICICI bank investment desk ( then I moved to US in 2008 and currently in US) so forgot about this investment ( i believe its around 1 Lakh) , fund names, cheque numbers etc..now I wanted to sell these funds but not sure ab’t the process ,I don’t even have those bonds with me, Any advice ?

Reply

Jagoinvestor Wealth Club Support December 21, 2012 at 11:41 am

Seshkumar

Do you have the folio numbers for mutual funds with you ? It must be somewhere in your emails atleast, you will need to now redeem them .. There are few methods to do that .

1. You can send the redeemption form (download it from the websites of mutual funds) and send the redeemption form to the AMC offices

2. You can get it done from CAMS office, take help of some friend offline in the city in India

3. If you have the online accounts, you can then redeem it online .

I guess you need to do some kind of offline work first and do it . This is exactly what I tell so many people, before you leave India, better do some kind of arrangement for these things .

Manish

Reply

Vikas Memane December 23, 2012 at 6:08 pm

Which companies health insurance(Medi claim policy) will remain best for me? My age is 30years old

Reply

Jagoinvestor Wealth Club Support December 24, 2012 at 9:40 am

Some of the good options are Apollo Optima Restore , Max Bupa Heartbeat

Reply

Parag Rodrigues December 24, 2012 at 2:47 pm

Hi Vikas,

Apollo Optima Restor is really good . You can get more in depth details by interlocking with Medimanage site —> Health Insurance broker who gives proper advise.

Optima Restore has benefit to multiple itself till max. limit of your coverage (for no claim). Eg: If you take policy of 5 lakhs (Premium amount : 11,149/-) & in case of no claim taken in next 1 year duration, your coverage increases by 50% .. i.e 2.5 lakhs without any further increase in your premium amount.

So, after 1 year your coverage got increased to 7.5 lakhs for same premium amount of 11,149/- … Too cool.

FOr 2nd non-claim free year, this further increases by 2.5 lakhs & your coverage now becomes 10 lakhs for premium amount of 11,149/-.

After this there will be no further increase as it has reached double of your coverage (5 lakhs to 10 lakhs).

You can still scan for other plan but with age of 30 yrs , this seems to be good plan for next 5 yrs. After 35 yrs, the premium get revised powing to age slab. ..there would be increase of Rs. 1,000 to 1,500/- only.

Reply

prasad December 25, 2012 at 6:26 pm

Dear Manish,
As I have targeted / committed to take term plan to this effect I have reviewed all my insurance policies and following are the details:

Family consists of self 44 years, spouse 34 years and 2 children (15 years and 10 years)
Dependent parents who are not covered in the below mentioned any policy.
1.Aviva Freedom Life Advantage Policy Jointly with my wife for 15 years and SA Rs.3.94 Lacs
2.LIC – Jeevan Suraksha, Jeevan Saral, Jeevan Saathi (with spouse), Jeevan Mitra, Jeevan Chhaya – for a term ranging 20 – 30 years – SA Rs.7.25 Lacs
3.LIC (policies in Spouse name) – Jeevan Saral, Bhima Gold – for a term ranging 20 – 25 years – SA Rs.7 lacs
4.Health (Medi claim) Insurance with New India – family floater – SA Rs.5 Lacs
5.Health (Group Accident & Sickness Hospital Cash) insurance with TATA AIG – family floater – SA (this policy covers hospital indemnity for accident Rs.3.60 lacs, hospital indemnity for sickness Rs.1.80 lacs, Accident medical expenses re-imbursement Rs.0.27 lacs for self and spouse same amount but for children it is 50% of our coverage)
6.Income Guard Plan – TATA AIG – family – SA (which covers AD for self Rs.20 Lacs + DD for self Rs.40 Lacs + PTLU for self Rs.20 lacs and for spouse 50% of self and for children 10% of self)
7.Home protection plan policy with TATA AIG – for Home protection Rs.2.50 Lacs, Home protection while you are away Rs.1.25 Lacs, Money & Cheques sub limit Rs.0.10 Lacs
8.Personal protection policy with ICICI Lombard for SA of Rs.5 Lacs (this policy covers Death resulting from Accident 100% of SA and Permanent Total disablement resulting from accident 100% of SA)
9.Apart from the above there is a coverage to my four wheeler which also includes PA for Rs.2 lacs which is with ICICI Lombard
As per the company policy, my company is providing medi-claim coverage to my family and to my dependent parents.
My annual income is Rs.15 lacs and I have outstanding housing loan amount of Rs.7.50 lacs which is to be repaid in next 10 years this loan is having of insurance coverage with HDFC. My children higher education will start in another 2 years.
Based on above I request you to advise whether I have to take any online Term plan. I am very much thankful to you for your guidance. And also suggest which online term plan is good and what is the desired sum assured amount and I want to take the same for 14 years.

Reply

Jagoinvestor Wealth Club Support December 26, 2012 at 7:59 pm

Overall I can see that you have a lot of financial products to cover variety of things . The overall suggested to bring it down by 50% otherwise things will get too complex at one point .

Yes you would need a term plan , because I can see your overall life coverage is so small , It should ideally be atleast somewhere around 10 times of your annual income atleast . So 1 crore is minimum you need .

Another thing you should do is get rid of those policies which are endowment or money back and are not helping you grow your wealth .

Let me know what support you need at this point on these areas ?

Manish

Reply

PRASAD December 28, 2012 at 7:26 pm

Hi Manish,

Thank you very much for your kind reply and guidance.
I am very happy for becoming a member in jiwealthculb and i have motivated after going thro videos and audios.
I am also interested to buy Jagoinvestor : Change your relationship with Money – By Manish Chauhan. But in link it is appearing the book is out of print. pl provide solution to get the book.

Surely I require one more small guidance for taking term policy. Which insurance company is good.
As given in ready reckoner in jiwealthclub.com, shall I go with
Aviva iLife/
HDFC Click2Protect/
Kotak ePreffered/
Bharti Axa eProtect/
with total SA of Rs.1 crore or can I split SA between two companies.
Thanks in advance.

Reply

Nandish Desai December 29, 2012 at 10:57 am

You can go for Aviva ilife and Kotal e preferred. Divide the overall sum assured between two companies. Be 100% honest while buying life insurance policy and whether you have cover or you dont have cover always be a responsible citizen as most people take life very lightly and pay price for being casual at times.

Please submit all your actions by mail to us this will help us in ending the action month powerfully. And if you are not part of wealth club become now as you will get a chance to participate in many such action months

nandish

Reply

PRASAD December 29, 2012 at 12:27 pm

Hi Nandish,

Thank you very much for your suggestion.
As informed I am already member in wealth club.
Fortunately I have gone thro’ your audio. Those were very nicely elaborative and inspirational.
Keep it up.
Thanks
Regards,

Veeresh December 26, 2012 at 7:31 pm

Hi Manish,

First of all I would like to thank you for giving us the great information about the financial life.
Only after reading your blogs I started understanding about the importance of SIP, term plan etc.

I have already surrendered my useless policies and staring the term plan with LIC and HDFC.
I have opened an account in Fundsindia for SIP.

Now I am stuck in choosing the mutual funds for SIP. I will tell you little bit about me. it would be great if you can suggest me some mutual funds for investing.

I am a 28 year old married salaried IT employee. I have one 4.5 months old daughter.
I am planning for long term(around15 years) investment for my daughter’s education, marriage and my retirement.
I am already investing 70000 INR in PPF.
I can invest around 8000 INR every month.

After reading your blogs I shortlisted following according to my priority of better MFs.
Large and mid cap:
1) Quantum Long-Term Equity Fund – G
2) HDFC Equity or TOP 200 (NAV of these are already too high, will it be growing in future)
3) ICICI Pru Dynamic-G

Mid and small cap:
1) IDFC Premier Equity Plan A-G
2) SBI Magnum Emerging Businesses Fund – G
3) DSPBR Micro Cap Reg-G
4) HDFC Mid-Cap Opportunities- G

It would be great if could suggest me how much I should invest in which MFs. If you want to suggest some other mutual fund is also fine for me.

Once again thank you for enlightening me about the financial life.

Thanks and Regards,
Veeresh

Reply

Jagoinvestor Wealth Club Support December 26, 2012 at 8:02 pm

I feel it will be good idea to invest in

1. Quantum Long term equity
2. HDFC equity (High NAV doesnt matter – read http://www.jagoinvestor.com/2007/11/mutual-funds-common-myths.html)
3. IDFC premier Equity Plan – A bit risky but good potential

Spend more time on action now and limited on reserch ! 🙂

Manish

Reply

Veeresh December 29, 2012 at 9:14 pm

Thank you very much for the suggestion Manish.
Its really a great help for me.

Regards,
Veeresh

Reply

Jagoinvestor Wealth Club Support December 29, 2012 at 9:17 pm

welcome !

Reply

BKM December 29, 2012 at 2:01 pm

Done my SIP in IDFC PEF plan A.

Reply

Nandish Desai December 29, 2012 at 2:02 pm

Excellent BKM.Thanks for sharing your action

Reply

BKM January 9, 2013 at 11:08 pm

Thanks,
Above post was short as i tried to update in action month itself (from my workplace). But here is my learning I wish to share with reader and think my experience may be useful to someone. I am investing a separate sum every year for my two year old daughters higher education since when she was couple of month old. After lot of analysis I avoid child ULIP and took MF way. Today this portfolio having 5 MFs and Gold ETF. But I did’nt like SIP concept and I used to invest lumpsum when market is down. But with time I got too busy track market regularly and missed some opportunity.Also my target allocation in those fund is fixed. In last week of NOV12 decided to use SIP way (online with fund-house and without demat). After that in the action month 4 of my MF started SIP. I am now believer of benefits of SIP and it turned out to be hassle free way of diciplined investment to me.

Reply

Nandish Desai January 15, 2013 at 11:59 am

Thanks for sharing your experience. It always contributes so always share what you want to communicate. We are happy to see the actions you took in your financial life

nandish

Reply

Venkateswara Rao K December 31, 2012 at 12:32 am

I have taken term insurance.

Reply

Jagoinvestor Wealth Club Support January 3, 2013 at 9:52 am

Good to know that Venkat ! .. Was that the only thing to be completed for you in this action month ?

Manish

Reply

Reema Borade December 31, 2012 at 2:38 pm

HI Manish,

Very thankful for your help & guidance for personal financing.

I want to start investment in GOLD ETF. How I can start of ?? What are charges ?? Will it be same like Shares which i can sell anytime??

Wishing Happy New Year in advance.

Reply

Nandish Desai December 31, 2012 at 3:06 pm

You can start investing in gold ETF through platforms like icici Direct or Fundsindia. The expense ratio for managing gold ETF is around 1 to 2%. If you choose to invest direct you can’t do SIP but platforms like fundsindia provide sip facility. Also you need demat account to invest in gold ETF.

All the best. wish you a great 2013

nandish

Reply

Parag Rodrigues December 31, 2012 at 4:10 pm

Hi JagoInvestor Team,

1st & foremost my Life Insurance need to be covered adequately. I am still going through term insurance plan brochures & have now shortlisted 2 term plan for 50 Lacs each :-

1) Aegon Religare
2) HDFC Click to Protect

2nd –> Few things are known to my family members about important papers realted to me. However, there are certain things which they are not aware of & need to be conveyed about it.

My hobby is now directed towards more learning of Personal finance & need your assistance to recommended books which matches your way of explaining things in better way.

I referred ready recknoer where few books have been recommended but I have got used to your style of writing which is VERY EASY to understand. Do we have author with similkair thought process & kind of examples sharing done by Manish?

I’ll wait for few of your comments for other not on track items & appreciate all your guidance towards it.

Thanks,

Parag Rodrigues

Reply

Jagoinvestor Wealth Club Support January 3, 2013 at 9:48 am

Hi Parag

Good to know about your actions , you can go ahead with HDFC term plan for now

Regarding the books , The style of writing will always be different for different authors . You can wait for 1-2 months and we are publishing more books . I think that will be right choice for you . However all the books mentioned in ready reckoner are also great one’s . Did you pick and found them to be not a good read ?

Manish

Reply

Sai Manoj December 31, 2012 at 6:35 pm

HI Manish,

Very informative and effective guidance is all I received from you. Thanks for that !

I am an IT employee, started working since March 2012. My annual income is Rs. 2.6L and being unmarried I can save a lot.

I have read your article on “How a newcomer should start his financial life – 4 steps”. It was given, Enjoy for the first Year- Spend! And that’s what I have been doing since I joined.

I thought I was doing something wrong and have been spending too much ,but after reading the article I thought I did nothing wrong.

– My take home salary is Rs. 25,000 per month.
– My company provides me a Mediclaim Health Insurance, assured upto Rs. 2.5L
– I have done my Life Insurance in Aegon Religare iTerm plan for 25 years, paying Rs.5014 annually, coverage of Rs. 72L.
– Regularly depositing Rs. 3000 in ICICI Online RD, directly deducted from my Salary Account every month for 15 months. This RD account I have opened for buying my favourite gadget.
– Depositing in PPF at variable intervals, till now deposited Rs. 30,000 in this year. Planning to add 20k more into this by EOY.

After all these things and all my monthly expenses, I am left with Rs. 10000 per month in my bank account, that amounts to around Rs. 90k till now.

I wish to know if I can do better or this plan is enough for me. Kindly suggest any investment or any plan that I can add to it. I can invest around Rs. 6000 – Rs. 7000 per month.

Also, I look forward for your valuable suggestions for my next financial year.

Sai Manoj.

Reply

Jagoinvestor Wealth Club Support January 3, 2013 at 9:50 am

Sai

I think you have started in a great way . Continue what you are doing for now and with the money you are left, better direct it to equity mutual funds now through SIP route . It should accumulate a respectable amount for you in some years

Manish

Reply

AJ January 3, 2013 at 7:08 pm

Hi Jagoinvestor Team,

You guys transformed me overnight from a collector with absolutely no idea (ZERO) about anything to a quasi investment pundit at work. These are things i accomplished over the period of a month,

a) Completely automated my bill payments. All my bills including that of credit card gets paid automatically now. For certain bills where i couldn’t get an automation i relied on standing instruction to get the automation going.

b) Started different funds (recurring Investments yielding 7.5% return at the same time) an example is vacation fund, misc fund etc

c) Started emergency fund accumulation (7.5% return and overdraft facility as well). Standing instruction to top up the emergency fund with a specific amount every month. The intention is to get a 6 month emergency fund accumulated which will encompass the home loan component as well.

d) Opened up a PPF account with ICICI, intention is to get the maximum amount (1 lakh) every year. Standing instruction for automatic payment every month.

e) Started a NPS account ( now i have a PRAN card !!). Of the allocated account for NPS 30% goes to Tier 1 and 70% goes to tier 2.

f) Realigned my home loan, i found that i was paying around 11.75% which was absurd. Went in and talked to the guys told them i am shipping the loan across to some other bank and they realigned the interest rate to 10.5%. Then i asked them to increase my EMI amount by a fraction (a nominal sum) and sawed off a couple more years from the tenure not to mention the huge change in the principle payment.

g) For the first time in my life i opened up and studied my personal loan documentation.

h) My CIBIL score is well above 750

i) Opened up a demat account with ICICI

j) Aggressively studying the Capital market and Money market strategies

k) In the process of opening up an etrade account to invest in the US market

l) Bought some gold

m) Moved my gold stuff and silver to the bank locker.

n) Completed the basic study of derivatives including futures, options and swaps.

o) Did a comprehensive study on bonds and debentures. Soon will start investment in bonds.

p) Started green juicing and decreased the intake of fatty stuff (Health investment 🙂 )

q) Closed two of my credit cards.

r) Spoke to the LIC agent in a different city and expressed my desire to close my LIC account, the IRR of that account is a sham !

s) In the process of a comprehensive study of mutual funds. Will invest soon.

t) Studied ETF, soon will invest.

u) Approached HDFC to close a few collection item i gathered way back, in the process of closing them out.

I am sure i have done more however this is all i remember now 😀 All the best to everyone embarked on a mission of investment and thanks again to the wonderful Jagoinvestor team.

AJ

Reply

Jagoinvestor Wealth Club Support January 3, 2013 at 7:13 pm

Wow .. this is amazing ! ..

You did so many actions that you have brought a big shift now in your financial life .. I am glad you did these ..

Can you just do us a favour . Can you put 2-3 more lines for each of your point and send across a mail to us on what all you did . I want to encourage thousands of our readers at blog and show them how someone took so many actions . I will make a post like – “How Ajay completed 20 actions in 1 month” .. something like thsi .

Can you support us on that ?

Reply

AJ January 5, 2013 at 2:16 am

Sure, will do that 😀

Reply

allavali January 7, 2013 at 2:52 pm

Hi Manish/Nandish,

As part of Action Month I have started my SIP in the Last month in HDFC.
Every month in PPF SBI + Post office 2700.
I have one policy for one of my Daughter around 4 Lakhs
for me have two LIC Policies which costs around 10 Lakh.

I have two Kids and I have around Housing loan upto 21 Lacs.

Still having the thought that, I need to invest more….but I dont know how much do i need to save.
My Annual Income is: 8.5 Lack.
I have already one Term Plan with 50 Lacs with Aviva and I am again thinking to buy another one for around 80 Lacs to One Crore.
I have gone through some of the Insurance Companies….like Aegon Religare, HDFC, Bharti…. which one will be good?

Please guide me how can I proceed further. Thanks in advance.

Thanks,
Allavali

Reply

Jagoinvestor Wealth Club Support January 7, 2013 at 5:33 pm

You can go ahead with Aviva or HDFC for your term plan , regarding your investment goal, can we know your target amount and in how many years ?

Reply

Jayachandran January 7, 2013 at 9:33 pm

Hi Jagoinvestors and Friends,
please accept my thanks and wishes for guiding /educating/saving me in the financial jungle.i had no insurance of any kind and zero emergency fund and zero rupees in savings. Tax saving is Greek and Latin to me. Long story short . I thought everything is lost but i stumbled upon jagoinvestor. Rest is below…

i read this blog(and tflguide/onemint ) and bought Manish book in June 2012 . read it for last 6 months again and again /regretted my mistakes . Then action happened in the Dec 2012.

1. Took HDFC Click2 Protect Term Insurance for myself.
2. With help of medimanage i took proper Health Insurance for my entire family .
3. Started SIP in HDFC Top 200 MF investment with FundsIndia platform. work in progress.
4. Opened PPF account for myself/wife/kid and made decent deposits .
5. Submitted all the medical bills for tax exemption timely to company .
6. Started and following home monthly/yearly budget and tracking expenses .
7. Paid-off my Jeevan Anand policy.
8. Said NO to all theLIC Ulips in kids name / too good to be true financial products pushing from friends/relatives.
9. Started accumulating for Emergency fund using Bank RD .
10. Bought “How to Save Income Tax through Tax Planning”by Lakhotia book and reading,
11.Educating myself financially so that i can try to understand /evaluate what my Financials is going to talk to me.searching
for a good CFP in Chennai area. Any advice/inputs welcome to end my search.

All the above was done /completed between Dec-25-2012 and today Jan-7-2012 :-). i feel elated. Unbelievable. But i understand this is just the beginning and i have long way to go .Thanks once again for the invaluable education.
Please guide me if i am going /doing anything wrong. Happy Action Month to all.

Regards,
Jay

Reply

Jagoinvestor Wealth Club Support January 9, 2013 at 9:02 am

Amazing Jaychandran ! .. Really happy to see your actions and how you went from start to end . there are few people who achieved it .

What exactly are you looking for in Chennai . While we can find out someone for you, just to inform you, we also have online services which work best for our clients.

Manish

Reply

Nandish Desai January 9, 2013 at 10:12 am

This is so awesome. Extremely happy to see what you created from Action month

Reply

Pritesh Shah January 9, 2013 at 12:20 pm

1. I have processed for Term Insurance of 30L from SBI Life.
2. Open PPF account of Wife.
Only Above two things….

Thank you

Reply

allavali January 9, 2013 at 12:23 pm

Hi Manish/Nandish,

As part of Action Month:
Increasing PPF Amount 1000 to 2000
just read all the LIC Docuemnts of mine
Just read the term Inurance docuemnts
My Credt Score is above 800
gone through the Home loan and the how many years still I need to pay.
Working on the second source for Income.
going through lot of sites regarding the MF and Shares. already started investing in HDFC SIP with 2000.
Started RD for my child 2000 per month for 10 years…with 8.5 %
I have planned fo take anothe term policy with 1 crore ..tryin wth HDFC and Aegon Religare. Need to work on it more.
Started Emergency Fund depositing into my Account. hope by this Year End I will have suffiecient Balance.

Thanks,
Allavali

Reply

Nandish Desai January 9, 2013 at 2:41 pm

Excellent allavali for taking so many actions and for sharing your actions with us. Your sharing will help others to be in action

nandish

Reply

Raviraj January 9, 2013 at 12:33 pm

dear jagoinvestor
I am so glad to have such great guide for financial management
In last year i have already did so many things to plan my financil

Oneulip is restarted with bajaj allianz
2 lic policy is running jeevan anand and jeevan saral
I have bought mediclaim for family with religare through medimanage
I have started one rd and ulip with indiafirst life
Planning to buy term insurance through indiafirst
Tracking expenses as well keeping all details of expenses
Had demat account with sharekhan very well plan to invest in it
Guidee more if something i m missing over here

Reply

Nandish Desai January 9, 2013 at 2:40 pm

Raviraj Happy to see the actions you took. Thanks for reporting. If you are yet not a wealth club member be a part of it

These actions are good enough

nandish

Reply

Kahnu January 9, 2013 at 1:34 pm

1. Took a term plan from Aviva.
2. Opened a PPF account in ICICI bank.
3. Opened a Demat account in ICICI direct.
4. Studied about IRR, XIRR which help me to think about my older endowment policies.
5. Watched a two inspirational movies “One Idiot” and “one minute Fly”
5. Asked my LIC agent to close all my useless LIC policies… 🙂

Thanks Jagoinvestor team

Reply

Nandish Desai January 9, 2013 at 2:37 pm

Excellent Kahnu for sharing your actions and results with us. We wish you a great financial life

Reply

Sanjay Thorat January 9, 2013 at 1:55 pm

Here are the actions that I took in Year 2012 (Not just in December) along with some pending actions:

1 Get Financial Planning done with JagoInvestor – Done
2 Buy Life (Term) Insurance – ICICI Pru iCare Opt I – Done
3 Surrender Money Plus Policy – Surrendered and got the refund cheque. – Done
4 Surrender Bajaj Allianz Policy – Surrendered and got the refund cheque. – Done
5 Buy Health Inusrance – Bought StarHealth Family Optima Floater. – 8/10/2011
6 Buy Critical Illness and Accidental Cover – Bought along with Home Insurance from HDFC Ergo.- Done
7 Start Mutual Fund SIPs for Retirement Goal – Started SIPs with HDFC Equity and Quantum Long Term Equity Funds. – Done
8 Start Mutual Fund SIP for Child Education Goal – Started SIPs with HDFC Equity Fund. – Done
9 Start Mutual Fund SIPs for Home Furniture Goal – Started SIPs with HDFC Cash Management and BSL Cash Plus Funds. – Done
10 Start Mutual Fund SIPs for Car Purchase Goal – Started SIPs with FT India Life Stage 40s FoF and BSL MIP II – Savings Plan Funds. – Done
11 Create Emergency Fund – 50% Complete. I have Insurance for Job Loss which covers me for 3 Home Loan Installments. (27000 * 3) – In Process
12 Review Nominations in Each Financial Product – Done
13 Take decision about Endowment Plus Policy – Cannot Surrender before 3 years. Will surrender after 3 years lock-in period is over. – Done
14 Surrender LIC Money Back Policy – Done
15 Buy Health Insurance for Parents – Pending
16 Prepare a Legal Will for smooth transfer of my assets.- Pending
17 Get Locker in a reputed bank keep gold and important documents there. – Pending
18 Take Steps to Organize my Financial Life with Jagoinvestor guidelines. – In Process

Regards,
Sanjay

Reply

Nandish Desai January 9, 2013 at 2:37 pm

Excellent Sanjay. Thanks for sharing.Keep this momentum on for the rest of your life

Reply

Aparna January 9, 2013 at 2:00 pm

a. Nomination was missing on my SB account. During this month, I took action by nominating my husband for the same
b. Invested in NPS account

Reply

Nandish Desai January 9, 2013 at 2:36 pm

Excellent. Thanks for sharing

Reply

Abhay Desurkar January 9, 2013 at 2:40 pm

Dear Manish/Nandish,

Thank you for all the mails and guidelines I have been receiving.
Checked CIBIL score.It’s above 800.
Term plan purchased from HDFC.It’s click to protect.It’s in approval stage now.
Re-initiated lapsed policies.
Worked on home loan EMI.Started additional contributionn in EMI for Rs 5000/month.
Thorough check on spending for whatever is really required.
Studied on-line presentation from wealth club.
Made the amortization sheet for home loan.
Things to do in Jan 2013
Plan an RD for vacation for Dec 2013.
PPF account to be opened by last week through ICICI.

Reply

Nandish Desai January 9, 2013 at 3:30 pm

Excellent. Thanks for sharing your actions with us. Only action produces results, great job

Reply

Rupali January 9, 2013 at 2:53 pm

Hi Manish,
First of all I would like to say sincere thanks to you and Jago investor club. I have been reading lots of stuffs, articles regarding financial plan. And last month have taken action plan and decided to invest my idle funds.
First and foremost I did is I have taken Kotak term plan for 30 lacs as I have bought new car and there is some loan liability. I really feeling relaxed now, if some mishap happens with me there will be no further liability on my family. And for this I read your past articles on term insurance and reached to the conclusion for Kotak.
Since long time thinking to invest in gold ETF, action month really helped me to get in to this, bought Goldbees. (as my marriage plans are in near future).
Booked recurring deposit with bank for 6000 to create emergency funds.
Planning to invest in PPF account as I am expecting promotion in next two months.
These are two three things but really helped me by action. Apart from this, Manish your research and articles are always having good impact on my financial life. Many of my financial decision has an influence of your blog, for ex. I have insisted my parents to take Health insurance and it really helped them when they faced medical urgency in past which was not expected. I got understandings of lot of financial product, whenever I come across any such product which I don’t know I literally scan your blog, read articles, reviews and comments and take decisions. You are doing great job keep it up!!
Thanks Again!

Reply

Nandish Desai January 9, 2013 at 3:32 pm

Good to see how you create VALUE from articles that Manish writes. Wonderful to see the actions that you took in your financial life. If you are a member of Wealth club you will continue getting different personal finance tools and premium content

nandish

Reply

Pankaj January 9, 2013 at 3:11 pm

Dear Manish / Nandish,

During this Action Month I was able to do the following: 1) Surrendered one policy of Birla Sun Life; got its refund cheque
2) Started process for getting Duplicate LIC Endowment policy bond; would surrender it after getting the bond 3) Got my latest CIBIL Score its above 800 4) Invested a bit in Bullion Market i.e. Gold

Pending tasks: 1) Term Insurance for 1 CR (From LIC and any Pvt. insurer) 2) SIP to attain my retirement, Child Education and Own Home Goals 3) Emergency Fund.

Wish to complete these pending tasks soon! Thanks a ton!

Reply

Nandish Desai January 9, 2013 at 3:29 pm

Excellent Pankaj. Focus all your energy on completing your pending task. Thanks for sharing what got done and what is still incomplete

Reply

Vinit More January 9, 2013 at 3:14 pm

Hi Manish,

Very thankful for all your help & efforts

I have big Cash money lying in bank account and burning its own. I need same money in 2-3 months period so very much interested in Liquid Funds to same for some time. FDs for short period giving returns very less so will liquid funds will be better option ?? Liquid funds details already discussed then please re-publish the links

Thanks a lot.

Reply

Nandish Desai January 9, 2013 at 3:33 pm

You can use HDFC Cash management fund to park your idle cash. Wish you all the best

nandish

Reply

Abhi January 9, 2013 at 3:18 pm

HI Manish

Sr No Activities Due Date Check
1 I will start my SIP before 2012 Pending Due to KYC which I have Initiated
2 I will take my term plan before 2012 Done
3 I will take my Health Insurance before 2012 Done
4 I will start my PPF account before 2012 Done
5 I will surrender my useless policies before 2012 NA
6 I will apply for my EPF transfer before 2012 Done
7 I will apply for my EPF withdrawal before 2012 NA
8 I will file my old tax returns before 2012 Done
9 I will make the first investment of my life before 2012 Done
10 I will update my Nominations before 2012 Done
11 I will make a WILL before 2012 Pending
12 I will apply for my CIBIL report and Score before 2012 Done
13 I will hire a Financial Planner for myself before 2012 NA
14 I will buy 1 personal finance book before 2012 Done
15 I will invest my huge idle cash before 2012 NA

Reply

PRAGIT KARDEKAR January 9, 2013 at 5:27 pm

Hi Manish & Nandish Sir,
First of all please accept my thanks and wishes for guiding & educating me in the financial life. I had no clarity on tax saving, insurance & investment. Searched for the related documents on google & came across Jagoinvestor blog.

I read almost every article of this blog along with the comments and believe me they are worth reading as they also clear most of your queries. I bought book Change your relationship with money written by Manish in Nov 2012 & Retire Rich, invest 40 Rs a day. Planned my finance from it & below are my update regarding the actions :

1. Took Aegon-Religare & Bharti AXA Term Insurance for myself.
2. From Medimanage i took Religare Health Insurance for my entire family .
3. Started SIP & will start a few more in this year.
4. Opened PPF account for myself and wife with good amount.
5. Submitted all the medical bills for tax exemption timely to company .
6. Prepared an excel sheet to track the monthly family budget & saving 45% of monthly salary.
7. Paid-off my ULIP policy.
8. Firmly said NO to all unwanted financial products from friends & family member.
9. Started accumulating for Emergency fund using Bank RD .
10. Transferred my EPF from my previous employer.
11. Updated nominees in all the plans.
12. Planning for a personal accident cover plan by the end of this month.

All the above was done between Dec-12 to Jan-13 🙂 . I am feeling positivity in finance now & will continue to get such valued information from the JI team.
Manish/Nandish Sir please guide me whether I am on the right track & what should be the next step.
Finally Happy Action Month to all JI friends.

Regards,
Pragit Kardekar

Reply

Manikantan Raman January 9, 2013 at 9:16 pm

Dear Manish / Nandish,

I list below my completed actions.

1. Closed three unused accounts.
2. Applied and got my CIBIL Score (815/900)
3. Took pending Term Insurance. (My total cover stands at 2.8cr – My risk cover matches my financial plan now)
4. Took pending Home insurance for my two houses.
5. Started making my Financial Journal.
6. Changed my account on my Pension account for direct credit(Superannuation pension)
7. Re-started my walking exercise daily.
8. Consolidated all my holding with Geojit.
9. Consolidated my MF holdings in Demat format with Geojit.
10. Got IMPS from my banks and started transferring thru’ it.

Thanks guys…..

Reply

Ganesh Kamath January 9, 2013 at 9:34 pm

Hi Manish and Nandish,

THanks a lot for making this club more action oriented, I am sure if we practice this more we all will end up into Wealth Creators. Here are few actions that me and my wife did in the Action Month
First of all invested time to go through all audio and video material in JWC site with my wife
1. Studied the IRR of 2 LIC and 1 ULIP and decided to close ULIP, in the process of doumentation
2. Detailed study and consultation of few CHIT fuds and decided not to invest in them
3. Complete documentation of all assets, policies, with nominees and relavant details
4. Rented out the Car parking to generate Passive income
5. Got the details and Forms of PPF account from SBI, will open the a/c in Jan
6. Re started to investment in ETF and set remiders for each month
7. Most important is started spending after Investing

One Idiot was too good and I am aggressively sharing with all family and freinds

Thanks a lot once again
Regards
Ganesh

Reply

Krish January 12, 2013 at 11:47 am

Here is my smart action list

1. Started Recurring Deposit and MF SIP at the same time with equal amounts. Wanted to check the performance of both over a period of 5 yrs.
2. Persona Loan taken for investment using interest arbitrage between foreign bank and indian bank
3. Repatriation from NRO to NRE executed for the three FDs matured in the month of Dec’12.
4. Nomination form sent for two recently booked FDs
5. Address change request letter made for LIC policies
6. IT refund got bounced due to address conflict. Made all attempts to place the Refund re-issue request online
7.Continue to read through financial blogs as part of awareness
8. Bought gold jewellary for family
9. Continued my regular walking exercise

Some dumb moves.

1. Upgraded my smart phone and tablet even though it was not a pressing need.
2. IT refund letter returned undelivered – could have handled better
3. Emergency fund dipped from 6 months to 3 months. Brought down to lowest since it started.
4. Eaten more at restaurents and bought unneeded toys for the kids.
5. Could have waited for the Gold jewellary buying as price dipped after our purchase.

Reply

Nandish Desai January 15, 2013 at 11:57 am

Hey Krish, thanks for sharing your smart moves and dumb moves. It takes courage to share and accept your dumb moves. Keep it up, stay in action

Reply

S Jacob January 14, 2013 at 2:29 pm

Heres my actions:
– Started my PPF account
– Started investing in MFs (not started SIP yet.. planning to do shortly)
– Surrendered one of my useless cash-back LIC policy
– Updated Nominee list for my accounts

Reply

Nandish Desai January 15, 2013 at 11:40 am

Great. Thanks for sharing your actions. Happy to see the actions that you took

Reply

SURESAN RAJA January 22, 2013 at 3:12 pm

Hello Sirs,

I could not complete the actions which I planned to do in December. But after several pressure I have done some of them in January.

1. I was planned to open PPF for nearly about 6 months back. I visited nearly 4 branches of SBI here. 2 branches told me to open the SB account first then open the PPF. As I am staying in rental flat, the bank officer asked me to submit the copy of the Pancard of the landloard. Finally yesterday I could open the PPF in SBI without opening SB Account. I deposited Rs.3000/- and planning to do every month Rs.3000/- it it. This was my goal because I paid Rs.26000/- as income tax. Thanx for your clarification mail about PPF. ( I could not ask the bank whether I can transfer the PPF from my other bank account every month by NEFT)

2. As I am in 52 years old and could not save anything for my family due to some financial misplanning and debt due to personal loans and credit cards, my wife was pressurising me for some investment.
Yesterday I have also opened an RD account in South Indian Bank in my daughter (9 yrs old) @ Rs.1000/- p.m. My wife has already started an RD account in her name in same SIB @ 1000/- in last month from the money which I was transferring to her account every month.

Action to be taken in future.

1. I need to pay in Feb Rs.9000/- for my term plan with ING Vysya bank which started 2 years back for 15 years and sum is Rs.10 lacs. I do not have any insurance policy other than this in my name, or in my wife & 2 kids name( 9 yrs and 16 yrs). I need to plan.

2. My MF with Kotak (Kotak 50) is blocked for few months which I have to renew and regularise. Rs.1000/- pm.
3. Planning to take another term plan ( I protect or some thing) if possible. Please suggest.
4. I need a retirement & wealth plan to save it within 6 years as I will be retiring in 6 years. Please suggest a good one.
5. I will also open an ETF within 2 months time.

I am a regular reader of your mails. I am sure I can utilise your mails information. It will take some more time to join with your wealth club. Because joining the in the club will be very easy but some money for investments. Sure, I will start it soon. Thank you so much.
Regards,
Suresan Raja

Reply

Jagoinvestor Wealth Club Support January 23, 2013 at 8:42 am

Thanks for sharing your actions and overall situations .. we are glad that you have atleast taken some actions and have planned for all of them .. Best of luck

Reply

Kirtan January 30, 2013 at 9:54 am

Hi,

I was delaying to invest cash, which i received from selling off our business. It took around 1.5 years and i was still unable to decide the deadline.

Thanks to you, Action month helped me stay determined to invest the same and now i have a healthy monthly income added on top of salary.

Thanks,
Kirtan Thakkar.

Reply

Kalyani February 14, 2013 at 8:02 pm

1. Calculated our net worth
2. Opened an account with FundsIndia for buying MFs online
3. Studied about term plan and explained it to my husband, he applied for one
4. Opened a Flexi term deposit account with my bank
5. Have opened an account at JIWC
6. Worked on investments under 80C, 80D for both of us – opened a retirement fund for my husband, term life insurance, 5 yr FD in my name, medical insurance for my parents

Reply

Nandish Desai February 21, 2013 at 1:33 pm

excellent kalyani. good to see so many actions

Reply

Nandish Desai December 29, 2012 at 12:30 pm

Excellent. have a great financial life

nandish

Reply

Cancel reply

Leave a Comment

{ 2 trackbacks }