Financial Planning And Your Valentine
I will be a log-head if I commit the sin of saying or writing anything which has no connection with Love Week or the Valentine’s Day. But I also have to fulfill my duties of being a financial planner, so I am venturing in this new territory where I will try to unify (or crucify) the two different ends of this earth – romance and finance.
Valentine time is all about togetherness. This is when you spend quality time with your chosen one (and you are lucky if she/he has chosen you). Each year you have celebrated it with love, tender and sweet moments. Why not bring it in a different style this year? We all attend parties which are routine. But more enjoyable are those which have a theme. So why not try and give this Valentine’s day a new theme. The financial planning theme!!! Come on, don’t grin. Allow me to elaborate this theme.
Financial planning is not rocket science and the same applies to romance too. Hence, I think your valentine will also like the idea of financial planning. This is called rational thinking. So, with a bit of effort you can actually plan this week or day based on this theme.
A word of caution here
If your valentine is a female, then you have to tread a bit cautiously. Females are a bit averse to financial topics, with some exceptions. In fact finance comes in top five things which make them a bit sad. I am not saying that they do not enjoy it at all. If you don’t believe me take a print out of your salary slip and show it to them. Their eyes will pounce on the “Net take home” part in a flash. But they normally do not initiate or participate in discussions on financial matters. So my suggestion is, if you feel the theme might be rejected, do not tell her about the theme. Just go with the flow and when the week is over tell her what you have organized. Also I am taking a liberty of assuming that you are a male and you are organizing the first ever ‘Financial Planning Valentine Day’ for her. However, this works if you are a female also.
Some of you still are not convinced and you still think that talking finance and love are opposites. But look at the bigger picture, my friend. People fall in the money trap. Money makes you do all crazy things and take away all your time and health which you reserved for someone special. (Just exchange money with love in last sentence and you will know what I want to say). This is very common because we compartmentalize these two phases of life. My attempt is to make you realise that both are important and you can achieve both, if planned in a proper way.
Now, let me start the proceedings:
Day 1: The Rose Day
Yes, the countdown has started and it’s time to impress and remember a good start is the key to all successful projects. With bunch of red roses, gift her a Mediclaim cover. If you are married take a family floater policy. Tell her that roses resemble happiness in life and when she or you are not in good health, the fragrance of life is lost. So this investment of yours will help cover your medical burden and you can enjoy life together without the worries of financial setbacks in case of a medical emergency.
Day 2: The Proposal Day
It’s time you and your loved one accept each other with qualities and shortcomings of each other. This day you propose that “you will have and hold, for better or the worse, for the rich or poor, in sickness and health, to love and to cherish as long as you both shall live”. After you have reassured your love and when you settle down, discuss with her that you are ready for a life ahead. You have divided the life in phases and you are ready for all these phases. You have done financial homework also. For the important things, you have turned them in terms of life-goals and you look forward to planning investments to attain these goals. Even tell her to the extent about the cooperation that you require from her. Tell her about your contingency plan and fund. She will never resist the proposal from a mature partner, who has thought through & planned well.
Day 3: The Promise Day
Both of you must have shared your wishes and dreams. It could be some small one like, buying a dish-washer or can be a larger one, like enjoying a vacation in the Maldives. But finances have not permitted you to take a plunge. This is the best day. Try to make her recall a wish she must have forgotten by now. Tell her that you have planned for it and you have fixed the date when that desire will be fulfilled. For e.g. for a vacation, you could promise to take her to Maldives in two years and you have actually started investing money on monthly basis in a SIP, for this purpose. Show her the first statement of accounts and tell her that you promise to fulfill all her dreams as she believes that you are her man of dreams.
Day 4: The Hug Day
A hug denotes security and stability. When you meet her tell her this and that love comes with responsibility. When you two have thought of sharing your lives, you actually will be sharing a lot of responsibilities also. These will be for yourself, each other and towards the members you will add in the future. And the onus lies on you to see that these well-thought responsibilities are met even if you are not there. Show her your term insurance policy or vow to take it as soon as possible. If she is also an earning member encourage her to take a term insurance. If you are married, gift the policy. Now you can rest assured that you have done a right thing of securing your partner’s future.
Day 5: The Valentine’s Day
Time to add glitter: The main day has arrived and its time you to gift her something which she always fancied… yes gift her some gold and this time it will not be the usual jewelry. Instead, this will be in the form of an Exchange Traded Fund (ETF) certificate. When she enquires, tell her that unlike physical gold which can be stolen or misplaced, this investment will never get lost. It will always be secure and secured in the same way as her place is in your life. After this proceed to a mouthwatering candle-light dinner and it’s time to forget the rest of the world.
What a week!!! To be honest I have not tried this but will give it a shot. Definitely!!!