As kids, it was our favorite word, “time please”!
If Mom used to get food before the break time of our favorite TV show, we used to say “Amma, Time please!” While playing any games, if we know no one is ready to give up we often say “Time please!” But now that we have grown up, things have changed. Now we don’t say, “Time Please!” anymore.
only see one fact that time is running and life is moving fast instead of pausing for a minute we run faster! Work and earning race plays too much toll in life and we tend to forget small things what we want to say or share it with our spouse or close family member.
An individual life runs around his job, friends, family and peer pressure. With these factors playing around we tend to work more because we need to earn more. Everyone saves and invests in some form or the other. It can be a small plot, investments via banker, a friend referred insurance policy, some gold in your bank locker, etc. My question is how many of them share this info with their spouse or loved ones? We cannot say, “God, Time please!” when he comes to take us. We cannot say, “God, Time please!” because we have not talked to our loved ones yet!
I would like to explain 4 important things that every earning individual should pause for a minute and say “Time Please” and do these things:
1) Documentation: Being in an Indian society many family members still depend on the earning member of the family. So stay organized with your documents. Everything should be stored in a safe and organized manner but make sure that your spouse or loved ones can get access to it if any need arises in future. Be it soft copy with passwords or hard copy!
2) Nominations: It’s suggested that whatever assets you have gathered till date, each and every asset must be attached with a nomination form so that in your absence the nominee don’t need to struggle or fight for the claim!
3) Inform: Your spouse or loved one should be informed about your financial plans. Keep your closed one involved in each step of your plan. This not only helps to let them know your plans but also makes them aware of basic investments requirements.
4) Share your confidant: Make sure your spouse or closed one knows to whom they can go and talk to about the process of handling assets in the right way. It might be your financial planner or a close friend who can help them in getting everything sorted for them with no confusion!
It is been said, “Life is short, there is no time to leave important words unsaid ― Paulo Coelho”
For everything else, Money Anna is there for you!