Posts tagged Old people

 

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Did you hear about the recent incident that happened in a city in Indiai? A well know bank branch was gutted down in fire. Lockers, documents, money, information all destroyed in one night. In the morning people flocked around to know what they have LOST? Most of them were OLD retired people that came with bank pass books or may be locker keys. Only to realize that all had vaporized. The whole scene was chaotic and unpleasant. Do you know this could happen with our Dad or Mom or our Uncle whose sole retirement money gets wiped out over night?  Or it could be us a couple of years down the line.

 

Now, this is an eye opener! One cannot prevent such incident from happening. However one can guard his assets. How?

 

First of all never keep your money in one place. Never invest only in one instrument. Keep photocopies of agreements in at least 2 places. Scan and keep documents. Teach our parents how to operate online account and also teach them about how to securely do it online.

 

Second, divest investment in multiple assets. It could be gold, land, FIXED deposits, debt instruments, commodities etc.

 

Third, with a small additional premium insure yourself and your family

 

Be safe be happy! 

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