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Monday, February 25, 2013

A Story of Appreciation - must read


This is a powerful message for our modern society. We seem to have lost our bearing & our sense of direction. One young academically excellent person went to apply for a managerial position in a big company. He passed the first interview; the director did the last interview. The director discovered from the CV that the youth's academic achievements were excellent all the way, from the secondary school until the postgraduate research, never had a year when he did not score.
The director asked, "Did you obtain any scholarships in school?"
The youth answered "none".
The director asked, "Was it your father who paid for your school fees?"
 The youth answered, "My father passed away when I was one year old, it was my mother who paid for my school fees.
The director asked, "Where did your mother work?" 
The youth answered, "My mother worked as laundry woman. 
The director requested the youth to show his hands. 
The youth showed a pair of hands that were smooth and perfect.
The director asked, "Have you ever helped your mother wash the clothes before?" 
The youth answered, "Never, my mother always wanted me to study and read more books. Furthermore, my mother can wash clothes faster than me.
The director said, "I have a request. When you go back today, go and clean your mother's hands, and then see me tomorrow morning.
The youth felt that his chance of landing the job was high. When he went back, he happily requested his mother to let him clean her hands. His mother felt strange, happy but with mixed feelings, she showed her hands to the young man. The youth cleaned his mother's hands slowly. His tear fell as he did that. It was the first time he noticed that his mother's hands were so wrinkled, and there were so many bruises in her hands. Some bruises were so painful that his mother shivered when they were cleaned with water. This was the first time the youth realized that it was this pair of hands that washed the clothes every day to enable him to pay the school fee. The bruises in the mother's hands were the price that the mother had to pay for his graduation, academic excellence and his future. After finishing the cleaning of his mother’s hands, the youth quietly washed all the remaining clothes for his mother. That night, mother and son talked for a very long time. Next morning, the youth went to the director's office.
The Director noticed the tears in the youth's e yes, asked: "Can you tell me what have you done and learned yesterday in your house? " The youth answered, "I cleaned my mother's hand, and also finished cleaning all the remaining clothes'
The Director asked, "Please tell me your feelings."
youth said:
1. I know now what appreciation is. Without my mother, there would not have been the successful me today.
2. By working together and helping my mother, only I now realize how difficult and tough it is to get something done.
3. I have come to appreciate the importance and value of family relationships.
The director said, "This is what I am looking for to be my manager. I want to recruit a person who can appreciate the help of others, a person who knows the sufferings of others to get things done, and a person who would not put money as his only goal in life. You are hired.
Later on, this young person worked very hard, and received the respect of his subordinates. Every employee worked diligently and as a team. The company's performance improved tremendously.
A child, who has been protected and habitually given whatever he wanted, would develop "entitlement mentality" and would always put himself first. He would be ignorant of his parent's efforts. When he starts work, he assumes that every person must listen to him, and when he becomes a manager, he would never know the sufferings of his employees and would always blame others. For this kind of a person, who may be good academically, may be successful for a while, but eventually would not feel sense of achievement. He will grumble and be full of hatred and fight for more. If we are this kind of protective parents, are we really showing love or are we destroying the children instead?
You can let your children live in a big house, eat a good meal, learn piano, watch a big screen TV. But when you are cutting grass, please let them experience it. After a meal, let them wash their plates and bowls together with their brothers and sisters. It is not because you do not have money to hire a maid, you want them to understand, no matter how rich their parents are, one day their hair will grow gray, same as the mother of that young person. The most important thing is your children learn how to appreciate the effort and experience the difficulty and learn how to work with others to get things done.


Tuesday, February 19, 2013

GROWING OLDER IS MANDATORY. GROWING UP IS OPTIONAL.!!


Hope for a Comprehensive Fix for RGESS Flaws



The Rajiv Gandhi Equity Savings Scheme is convoluted and cumbersome, but the government looks likely to fix the problems for next year...
Over the last few weeks have been somewhat eventful for the Rajiv Gandhi Equity Savings Scheme. One, the scheme itself is well on its way with a number of RGESS-specific mutual funds now available. Equity investments under the RGESS are also operational with some brokers actively canvassing for investors. Last week, the finance minister also participated in a function launching RGESS investments through the BSE with the first clutch of investors being handed shiny RGESS certificates of some sort that they held up triumphantly while posing for photographs.
While the RGESS is definitely a step forward, being the exclusively equity-oriented tax-saver in a long time, it is also clearly a work in progress. The scheme is convoluted and riddled with needless complications. One example: while you can invest in mutual funds under the scheme, you must do so through your demat account, for some reason that has never been made clear. Now, it so happens that of the three possible methods of fund investing--direct, distributor or demat—the last is the most cumbersome and the least popular. But the RGESS makes it compulsory, as if the goal was to get people to open demat accounts.
However, such as it is, it’s still a way of saving Rs 5,000 of tax if you have never invested in stocks before. But remember, if you are being pitched an RGESS investment by someone, you must make this Rs 50,000 investment only if you have exhausted the Rs 1 lakh limit under section 80C. For a given amount invested, RGESS yields only half the tax saving of Section 80C and so it makes sense to use up the latter first.
One has good reason to hope that these two months of this financial year is the only time that the RGESS will exist in its current form. A number of authorities, including the finance minister himself, have said that the scheme will be modified based on the learnings this year. Hopefully, we’ll have something much more useful next year.

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Thanks and Regards

CA Kapil Talreja
(Practising Chartered Accountant, Personal Finance Consultant & a Member of JagoInvestor Group)
(Mobile No.: 91-8734856509)

Wednesday, August 1, 2012

Date with a Woman … Very Sweet And Touching Date with a Woman … Very Sweet And Touching



date with women

After 21 years of marriage, my wife wanted me to take another woman out to dinner and a movie.. She said I love you but I know this other woman loves you and would love to spend some time with you.

The other woman that my wife wanted me to visit was my MOTHER, who has been a widow for 19 years, but the demands of my work and my three children had made it possible to visit her only occasionally.

That night I called to invite her to go out for dinner and a movie.

‘What’s wrong, are you well,’ she asked? My mother is the type of woman who suspects that a late night call or a surprise invitation is a sign of bad news.

‘I thought that it would be pleasant to be with you,’ I responded. ‘Just the two of us.’

She thought about it for a moment, and then said, ‘I would like that very much…..’

That Friday after work, as I drove over to pick her up I was a bit nervous.

When I arrived at her house, I noticed that she, too, seemed to be nervous about our date. She waited in the door with her coat on.. She had curled her hair and was wearing the dress that she had worn to celebrate her last wedding anniversary.

She smiled from a face that was as radiant as an angel’s.

‘I told my friends that I was going to go out with my son, and they were impressed, ‘she said, as she got into the car. ‘They can’t wait to hear about our meeting’. We went to a restaurant that, although not elegant, was very nice and cozy. My mother took my arm as if she were the First Lady.

After we sat down, I had to read the menu. Large print. Half way through the entries, I lifted my eyes and saw Mom sitting there staring at me. A nostalgic smile was on her lips.

‘It was I who used to have to read the menu when you were small,’ she said. ‘Then it’s time that you relax and let me return the favor,’ I responded.

During the dinner, we had an agreeable conversation – nothing extraordinary, but catching up on recent events of each other’s life..

We talked so much that we missed the movie..

As we arrived at her house later, she said, ‘I’ll go out with you again, but only if you let me invite you.’ I agreed.

‘How was your dinner date?’ asked my wife when I got home. ‘Very nice.

Much more so than I could have imagined,’ I answered.

A few days later, my mother died of a massive heart attack. It happened so suddenly that I didn’t have time to do anything for her.
Some time later, I received an envelope with a copy of a restaurant receipt from the same place mother and I had dined.

An attached note said: ‘I paid this bill in advance. I wasn’t sure that I could be there; but nevertheless, I paid for two plates – one for you and the other for your wife. You will never know what that night meant for me..

I love you, son.’

At that moment, I understood the importance of saying in time: ‘I LOVE YOU!’ and to give our loved ones the time that they deserve. Nothing in life is more important than God and your family. Give them the time they deserve, because these things cannot be put off till ‘some other time.






Saturday, June 30, 2012

We always believe we will live forever. Bad things always happen to others.


Here goes the letter forwarded by Rima Parikh, a CFP Practitioner in Mumbai. Thank you Rima for sharing, it’s appreciated…

Hello Friends,

Few things I learnt after Mithun’s death-

We always believe we will live forever. Bad things always happen to others.

Only when things hit us bang on our head do we realise… Life is so unpredictable….

My husband was an IT guy. All techie. And I am a chartered accountant. Awesome combination you may think.

Techie guy so everything is on his laptop.his to do list. his e-bill and his bank statements in his email. . He even maintained a folder which said IMPWDS. wherein he stored all login id and passwords for all his online accounts. And even his laptop had a password. Techie guy so all the passwords were alpha-numeric with a special character not an easy one to crack. Office policy said passwords needed to be changed every 30 days.So every time I accessed his laptop I would realise it’s a new password again. I would simply opt for asking him ‘What’s the latest password’ instead of taking the strain to memorise it.

You may think me being a Chartered Accountant would means everything is documented and filed properly. Alas many of my chartered accountant friends would agree that the precision we follow with our office documents and papers do not flow in to day to day home life. At office you have be epitome of Reliability / Competent / Diligent etc but. at home front there is always a tomorrow.

One fine morning my hubby expired in a bike accident on his way home from office.. He was just 33.His laptop with all his data crashed.everything on his hard disk wiped off.No folder of IMPWDS to refer back to.His mobile with all the numbers on it was smashed.But that was just the beginning. I realised I had lot to learn.

9 years married to one of the best human beings.with no kids.just the two of us to fall back on..but now I stood all alone and lost.

Being chartered accountant helped in more ways than one but it was not enough. I needed help.His saving bank accounts, his salary bank accounts had no nominee.On his insurance his mom was the nominee and it was almost 2 years back she had expired. but this was just a start.. I didn’t know the password to his email account where all his e-bill came.I didn’t know which expenses he paid by standing instructions.

His office front too was not easy. His department had changed recently.I didn’t know his reporting boss name to start with.when had he last claimed his shift allowance.his mobile reimbursement.

The house we bought with all the excitement.on a loan.thought with our joint salary we could afford the EMI.when the home loans guys suggested insurance on the loan.we decided the instead of paying the premium the difference in the EMI on account of the insurance could be used pay towards prepayment of the loan and get the tenure down.We never thought what we would do if we have to live on a single salary.So now there was huge EMI to look into .

I realised I was in for a long haul.

Road accident case. so everywhere I needed a Death certificate, FIR report, Post Mortem report. For everything there were forms running into pages.indemnity bonds.notary.surety to stand up for you.No objections certificates from your co-heirs..

I learnt other than your house, your land . your car, your bike are also your property… So what if you are the joint owner of the flat.you don’t become the owner just because your hubby is no more. So what if your hubby expired in the bike accident.and you are the nominee but if the bike is in a repairable condition .you have to get the bike transferred in your name to claim the insurance.And that was again not easy. the bike or car cannot be transferred in your name without going through a set of legal documents. Getting a Succession Certificate is another battle all together.

Then came the time you realise now you have to start changing all the bills, assets in your name.Your gas connection, electricity meter, your own house, your car, your investments and all sundries. And then change all the nominations where your own investments are concerned.And again a start of a new set of paperwork.

To say I was shaken.my whole life had just turned upside down was an understatement.You realise you don’t have time to morn and grieve for the person with whom you spend the best years of your life. because you are busy sorting all the paper work.

I realised then how much I took life for granted.I thought being a chartered accountant I am undergoing so many difficulties.what would have happened to someone who was house maker who wouldn’t understand this legal hotchpotch.

A sweet friend then told me dear this was not an end.you have no kids.your assets will be for all who stand to claim.after my hubby’s sudden death.I realised it was time I took life more seriously. I now needed to make a Will. I would have laughed if a few months back if he had asked me to make one.But now life had taken a twist.

Lessons learnt this hard way were meant to be shared.After all why should the people whom we love the most suffer after we are no more.Sorting some paperwork before we go will at least ease some of their grief.

1. Check all your nominations
It’s a usual practice to put a name (i.e in the first place if you have mentioned it) and royally forget about it. Most of us have named our parent as a nominee for investments, bank accounts opened before marriage. We have not changed the same even years after they are no longer there with us. Even your salary account usually has no nomination.. Kindly check all your Nominations.
- Bank Accounts
- Fixed Deposits, NSC
- Bank Lockers
- Demat Accounts
- Insurance (Life, Bike or Car or Property)
- Investments
- PF & Pension Forms

2. Passwords..
We have passwords for practically everything. Email accounts, Bank accounts, even for the laptop you use. What happens when your next in kin cannot access any of these simply because they do not know your password… Put it down on a paper.

3. Investments.
Every year for tax purpose we do investments. Do we maintain a excel sheet about it. If so is it on the same laptop of which the password you had not shared. Where are those physical investments hard copy.

4. Will.
Make a Will. I know you will smile even I would.had I not gone through all what I did.It would have made my life lot easier.a lot less paperwork.I wouldn’t had to provide an indemnity bond, get it notarised, ask surety to stand up, no objections certificates from others…

5. Liabilities.
When you take a loan say for your house or car.Check out on all the what ifs.what if I am not there tomorrow.what if I loose my job.Will the EMI still be within my range.If not get an insurance on the loan.The people left behind will not have to worry on something as basic as their own house.

My battles have just begun…But let us at least try and make few changes so that our loved ones would not suffer after we go.We do not know what will happen in the future.But as the Scout motto goes: “Be prepared”-Priya
I am sure that we will get a lot of insight from this letter/blog about our own situations and workings.