Gaurav Mohanty, MDRT qualified Life Insurance Advisor
Life Insurance Advisor at Aditya Birla Sun Life Insurance. Member MDRT, The Premier Association of My background is in Sales & Marketing.
Hi I'm Gaurav Mohanty, an IRDA Licensed Pan India Life Insurance/ Life Assurance Advisor at Aditya Birla Sun Life Insurance. (ZA 3467).I qualified for Million Dollar Round Table (MDRT) in 2020. My Objective is to add value in people’s lives by providing financial awareness and enabling them to meet their life goals by showing You the benefits of Life Insurance (Death benefits)/Life Assurance (Livi
17/08/2023
📢 Hello Everyone! 👋
🎉 Ready to take control of your Financial Future?
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📊 We’ll be diving deep into the world of Finances, helping you navigate the complexities of Budgeting, Investing, Retirement Planning, and more.
From Money Management Tips to Demystifying Insurance options, I’m here to empower you every step of the way.
💰 Looking to Build Wealth and secure your Family's Future?
My channel is packed with insightful videos that help you build your Financial Pyramid right from the bottom to the top.
To make it less complicated for you, you can begin with watching the first 5 presentations from 1 through to 5.
Plus, I'll break down the nuances, ensuring you make informed decisions to protect what matters most.
🔑 What makes me stand out? I’m not just about Numbers – I’m about your Financial Peace of Mind. My goal is to simplify intricate concepts, making them accessible to everyone.
I’m your Partner in Financial Success, offering actionable advice that you can apply immediately.
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https://www.youtube.com/channel/UCVJGBb2pjVR5FVPVd53iMZg
Gaurav Mohanty - ++ Life Insurance - YouTube HelloI am your dedicated Life Insurance Advisor, committed to safeguarding your financial future and protecting your loved ones with comprehensive coverage.I...
03/01/2023
Explained: Global Pensions Timebomb
Source: World Economic Forum
With life expectancy increasing in many countries, retirement systems are under severe strain.
The global retirement savings gap is projected to reach $400 trillion in the next 30 years.
How are countries tackling this global pension crisis?
https://www.youtube.com/watch?v=9zcpAn73sZ4
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Explained: Global Pensions Timebomb With life expectancy increasing in many countries, retirement systems are under severe strain. The global retirement savings gap is projected to reach $400 t...
02/01/2023
How the boon of Longevity will make Retirement just a dream for the majority of the Population who will never be able to Retire?
Since the middle of the last century, life expectancy has been increasing rapidly.
On average, it has been increasing by one year, every five years . Babies born today in 2023 can expect to live to over 100 , or in other words, they will live to see the year 2123.
While increased longevity is a positive step for individual and societal health and productivity, this change has a profound impact on the traditional make-up of our societies and the social protection systems that are designed to support us in our old age.
How do we rethink our retirement systems that were designed to support a seismic shift from a retirement of 10-15 years to a retirement of 30-40 years to prepare for this?
One obvious implication of living longer is that we are going to have to spend longer working. Inevitably retirement ages will rise,the expectation that retirement will start early- to mid-60s is likely to be a thing of the past, or a privilege of the very wealthy.
Absent any change to retirement ages, or expected birth rates, the global dependency ratio (the ratio of those in the workforce to those in retirement) will plummet from 8:1 today to 4:1 by 2050.
How to focus on the sustainability and affordability of our current retirement systems. To protect against poverty in old age.
Action is needed to realign our existing systems with Those who take proactive steps for the challenges of an ageing population will be better equipped in the years ahead.
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01/01/2023
Talking about investing for retirement may seem abstract to students.
But what if it is framed from a longevity perspective?
Do you want to prepare your financial life knowing that you could live to 100?
This MarketWatch article provided some actuarial tables showing the probability of living to 100 for different age groups:
A fun thought experiment demonstrating the power of compound interest tempered by a dose of reality!
https://www.ngpf.org/blog/question-of-the-day/question-whats-the-probability-that-you-will-live-to-100/
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Question: What's the Probability That You Will Live to 100? - Blog Talking about investing for retirement may seem abstract to your students, but what if you framed it from a longevity perspective? Do you want to prepare your financial life knowing that you could live to 100? This MarketWatch article provided some actuarial tables showing the probability of living....
01/01/2023
Ageing “Gay - cefully”: the next LGBTQIA+revolution
LGBTQIA+ Solo Agers till the age of 100 years (Longevity).
Coming out is a Lifetime thing.
Gender Pay Gap for Female Partners.
And more...
The unique financial challenges LGBTQIA+ community continue to face
There are differences between financial planning for LGBTQIA+ present or future milestones and heterosexual couples because of their unique challenges, aspirations and the realities of life.
The community has less financial security than the general population. They need to embrace those differences and plan accordingly.
LGBTQIA+ financial planning is about helping the greater community to thrive Financially and to live their happiest, healthiest and wealthiest lives.
It is a valuable time to advocate for important next steps that can help bring the community even greater equality, opportunity, and wellness—beginning with you.
Explore your relationship with money, your life’s journey, your responsibilities and your big dreams.
Taking Pride in your Financial Wellness
LGBTQIA+ Ally
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01/01/2023
01/01/2023
2023 Living to 100 Symposium Orlando, January 15-18
Society of Actuaries
The Society of Actuaries is a global professional organization for actuaries.
Thought leaders attend the symposium to share ideas and knowledge on high age mortality and morbidity and discuss the challenges and opportunities associated with the increasing number of retirees.
The outcome of Longevity, each Living to 100 event is a lasting body of research to educate and aid individuals and policymakers in addressing the social, financial, health care and retirement systems and the potential needs and services of future advanced-age populations.
Actuarial science applies the mathematics of probability and statistics to define, analyze, and solve the financial implications of uncertain future events.
https://www.soa.org/programs/living-to-100/
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Living to 100 Research Symposium Living to 100 is a research effort which includes a triennial international research symposium.
Every Long-Term Investor Needs to Prepare for the 'Population Problem'
It’s a matter of celebration – and concern
It's not what you think. India does not have a population explosion problem as we have been repeatedly told.
Instead, India's problem is that it's population will peak much sooner than anticipated...and then decline.
In other words, India will "Grow Old" before it "Grows Rich".
Current there are nearly 138 million elderly persons in India in 2021.
There will be over 319 million elderly by 2050, threefold the number identified by the Census in 2011, according to the Longitudinal Ageing Study of India (LASI).
The data says India's 'replacement rate' has fallen below the level needed to maintain the population.
The replacement is the rate at which the population can replace itself from one generation to another.
The fertility rate is the number of children a woman is likely to have. The fertility rate of 2.1 is termed as the 'replacement rate'.
And it will even turn negative around 2060.
And that brings us to the all-important point of population growth.
India won't have as many people as we expected. Also, the population growth will be very slow.
An aging population does not spend money anywhere as fast as a young population does.
This is what is happening in China right now. This will be in India's future too.
What does this mean for investors?
Stock markets are all about the future.
Companies won't sell as much. Their net profit won't be as high as they projected. Their growth rate will fall short of expectations.
If you're investing in stocks for your Retirement Fund, which is at least 15 years to 70/80 years( for a 20 years old today) or more in the future...
..This is one 'population problem' you should be aware of.
Be prepared for the day when the stock market wakes up and gives this trend its due importance. That day may not be far in the future.
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29/12/2022
My Brief Introduction
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29/12/2022
How indebted are Millennials?
YouGov-Mint Millennial Survey.
Millennials spend beyond their means and are indeed more indebted than either pre-millennials or post-millennials.
Millennials binge on debt.
The survey conducted between mid-September and mid-October 2019 shows that millennials are more likely to take loans compared to other age groups.
In general, millennials handle their finances irresponsibly.
How can Life Insurance allow you to avail policy loans on your existing traditional Life Insurance policies.
Click on the images and read the caption beside the images.
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29/12/2022
There is speculation that the govt may reintroduce estate taxes in order to enhance tax revenue.
Inheritance Tax is a form of taxation that is levied against one’s property and assets (including ancestral ones) which gets passed on to their legal heirs – children, grandchildren– after he/she passes away as part of Inheritance.
Inheritance Tax i.e. a Tax on Real-Estate Properties, Movable Assets, Jewellery, Savings A/C, Stocks, Fixed deposits (FDs), Mutual Funds, Cash in bank inherited was expected in the Union Budget 2019.
Budget 2019-20: One of the main objectives for the introduction of Estate Duty/Inheritance tax is to prevent accumulation and preservation of wealth in the hands of few people.
How does Life Insurance and Inheritance Tax work together?
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29/12/2022
What is the MWP Act 1874?
Women's rights in India have always been an issue, when approached from a social, political or legal perspective.
This is because women in familial roles (mothers, daughters, sisters and wives) are often dependent partly or wholly on the men of the family and rarely exercise any right over their own assets.
In case of insolvency or you are not in place to protect your family due to unfortunate demise , your creditors will claim the any proceeds that the wife will inherit to pay off the Debts.
This often leads the women to be left penniless without any financial security for herself or her dependent children.
Hence, the Married Women's Property Act, 1874 or the MWP was enacted to curb this injustice.
The Married Women's Property (MWP) Act of 1874 ensures that a married woman in India has a separate and sole right to her property under any circumstances.
The MWP Act thus dictates that a married woman's separate property cannot be owned/used or claimed by anybody else, not even her husband, parents, in-laws, or brothers.
It is a legal safeguard for a woman's assets which assures her and her dependents' financial safety.
MWP Act - Marriage Women's Property Act in Life Insurance
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29/12/2022
How will we benefit by using a certified Life Insurance Advisor.
1 Save Money - Assuming you make the right decision and go with an Insurance Advisor, you have a much better chance at saving money.
2 Save Time - Insurance Advisors act like a one stop shop. By consolidating your insurance needs with an advisor you save a lot of time and avoid the complication with documentation.
3 Service - When dealing with something as delicate as insurance, positive interactions are so crucial.
4 Insurance made simple - Don't make insurance more complicated than it already is. To really be on top of your insurance policies, there are so many insurance terms, legal clauses and coverage limits you must be aware of.
The Advisors handle all of the complex, unsatisfying aspects of insurance on your behalf, while providing insight and advice when necessary.
Click on the link below to access the images and read the caption beside the images.
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29/12/2022
988 Mn Indians Do Not Have Life Insurance. Those Who Do, Are Insured For 7.8% Of What's Needed To Cover Financial Shock.
This means having savings and insurance of just Rs 7.8 for every Rs 100 needed for protection, leaving a protection gap of Rs 92.2.
Click on the images and read the caption beside the images.
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S&P GLOBAL FINLIT SURVEY
Financial Literacy Around the World:
The Standard & Poor's Ratings Services Global Financial Literacy Survey is the world’s largest, most comprehensive global measurement of financial literacy.
A crisis looms in Retirement Planning, which people are not prepared for.
India is plagued by chronic under-saving for old age and older adults lack the financial skills needed to deal with the economic challenges of Retirement.
Click on the link below to access the document.
https://gflec.org/wp-content/uploads/2015/11/Finlit_paper_16_F2_singles.pdf?fbclid=IwAR3NZSzdsgU99P7msVzubAmPyXYbNC9pi1kuXRTvkMrcfBu0E6tsFT1k4CI
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29/12/2022
The meaning of financial Literacy is the foundation of your relationship with money, and it is a lifelong journey of learning.
Infact India is ranked at #121.(Data: Standard & Poor’s Ratings Services Global Financial Literacy Survey,2015)
Ranked # 24 from the bottom.
A significant majority of Indians do not even understand the basics of financial engagements.
The earlier you start, the better off you will be because education is the key to success when it comes to money.
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World Economic Forum
White Paper
We’ll Live to 100 – How Can We Afford It?
The challenges we face to provide our ageing societies with a financially secure retirement are well-known.
In most countries around the world, standards of living and healthcare advancements are allowing people to live longer.
This should be celebrated, but we should also consider the implications for the financial systems that have been designed to meet our retirement needs, which in many countries are already under severe strain.
To Download the Document
https://www3.weforum.org/docs/WEF_White_Paper_We_Will_Live_to_100.pdf?fbclid=IwAR3gby-A1MZCSPHWGM2acJlHel36_p7cL-uWFBI4pGJNwa4od8qODs9l4YQ
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29/12/2022
Market Risk
The risk of losing significant assets due to a stock market crash.
Market risk is the risk of change or decrease in the value of investments due to changes in uncontrollable market factors.
These market factors can be recession or depression, changes in government policies affecting key interest rates, natural calamities and disasters, political unrest, terrorism, etc.
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29/12/2022
Retirement is a Long Game.
A very important but less understood and gets very little attention, and is a big retirement risk:
Sequence of Returns Risk
Risk of our Retirement savings getting over before expected.
Are we confident that this retirement pot can last our entire retirement?
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29/12/2022
Model Tenancy Act: Fulfilling India’s Rental Housing Potential
If incentives are put in place, developers might gradually adopt the "Build-to-Rent" model with better offers at their disposal to attract tenants.
As the sector matures, institutional investors will also start funding multi-family projects aimed at millennial families.
“India has nearly 1.109 Crores urban vacant housing units of which 10 states and Union Territories (UTs) contribute to 78% (0.864 Crores) of total vacancy levels," according to a joint report.
Institutionalising The Rental Housing Market In India -2019, by Knight Frank India, a real estate consultancy firm and Khaitan and Co., a law firm.
The Union Cabinet approved the Model Tenancy Act for adoption and enactment by states and UTs to promote rental housing in India, Ministry of Housing and Urban Affairs (MoHUA).
One has to take a more realistic view about what are the chances as an individual buyer to either sell or rent a property.
Because Builders have the Volume for greater Economy of Scale, which individuals won’t have.
Source: thepropertist.com
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29/12/2022
The Illusion of Rental Income
Many of us make the mistake of considering just the absolute cash that comes in as our rental income from our rented properties.
Instead, we must check the Rental Yield.
The rental yield across the major cities of India is one of the lowest in the world, currently hovering around 2-3 percent, which is more than 2x less than the Rate of Inflation.
It is good to invest when the rental yields are above 3%.
Despite the high rent amounts, average rental yields in India are just 2-3%.
And we still have to pay property maintenance charges and taxes on income.
Source: moneycontrol.com
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25/12/2022
Lifelong Illusion of Investing in Real Estate.
Owning a house is a dream for most people.
This is the reason why investment in housing is disproportionately higher amongst the middle class.
Click on the images and read the caption beside the images.
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I wish you a joyous Christmas. Merry Christmas!
May your days ahead be as vibrant as this festive season. May you shine as bright as the Christmas lights because you deserve it all. 🎅 🎄
24/12/2022
80% Urban Indians not ready for Retirement: Survey
The 2nd Edition of India Retirement Index Study (IRIS)
59% of Urban Indians believe their savings won’t last even 10 years in Retirement.
4 out of 5 people fear their savings will not last through retirement.
4 in 5 of those above 50 feel they should have started planning earlier.
23% of respondents say they have not even thought about retirement planning
35% of respondents have not invested in any financial product for retirement
Source: natixis.com
Source: economictimes.com
Source: Max Life Insurance India Retirement Index Study
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24/12/2022
It'll take a miracle to Retire comfortably.
The search for Retirement Security in an insecure world.
The Global Retirement Index (GRI) is a multi-dimensional index developed by Natixis Investment Managers and CoreData Research to examine the factors driving retirement security and to provide a comparison tool for best practices in retirement policy.
The index includes International Monetary Fund (IMF) advanced economies, members of the Organization for Economic Cooperation and Development (OECD) and the BRIC countries (Brazil, Russia, India and China).
The researchers calculated a mean score in each category and combined the category scores for a final overall ranking of the 44 nations studied.
Natixis Global Retirement Index 2021
According to Global Retirement Index
Iceland is #1
and
The scary part is India is ranked #44, right at the bottom of the table.
Source: natixis.com
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24/12/2022
Running out of money in Retirement
Watch the Documentary “Money, Explained” – Retirement, Season - 01, Episode – 05 on Netflix
The average Rate of Inflation in the US (1960 to 2021) was 3.8% per year. The average Rate of Inflation in India (1960 to 2021) was 7.5% per year.
Source: imdb.com
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24/12/2022
Watch the Documentary “Money, Explained” – Student Loans, Season - 01, Episode – 03 on Netflix
The documentary is about Student Loans in the United States.
Education is one of the sectors that has experienced the most inflation in recent years. In the last decade, while food inflation went up to 9.62%, education inflation rose as high as 10% same as in India @ 10%.
Siurce: imdb.com
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24/12/2022
How Education Inflation can hurt your child’s future
Estimated Cost of Education in 2033
Figures are cost of education of various disciplines assuming a 10% rise per year.
Estimated costs in 2015 were conservative and may be higher in private institutions.
The cost of education rises by a larger margin than what the published centralised inflation numbers tell you.
What makes it worse are the many hidden charges that can push the education budget up further.
Source: economictimes.com
Source: moneycontrol.com
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24/12/2022
We all love Children, but will it be financially feasible to raise them to our best ability.
Expenses for Raising a Child 2018 figures
2020 figures
As per rough estimates, it costs between ₹1.5 crore and ₹2 crore to raise a child—from the day it is conceived to the time it takes off on its own.
It is beyond our means to be able to raise a child in the near future, unless our Salaries, Savings and investments keep up with inflation.
Source: indiatimes.com
Source: livemint.com
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24/12/2022
Inflation and Rule of 70
One thing that came out during Demonetisation was that many people thought that storing cash was a form of saving.
As far as the saving impulse goes, this was an ideal behaviour, as far as the actual mode of saving goes, this is obviously the worst thing to do.
The rule of 70 is a means of estimating the number of years it takes for the value of our money to go half.
It is expected to not fully understand the compounding effect of Inflation.
Even if we had Rs 100 Crores stashed away at the age of 20 years, if we inherit it, it will reduce to just Rs 6.25 Crores by the time we retire at the age of 66.4 years (i.e. if we left it untouched) , but if we start spending, it will disappear quicker than expected.
Even when people don’t store cash and use the formal financial system don’t actually appreciate the accelerating impact that this compounding effect Inflation has.
Most of us remember how little things used to cost in the past, however, it’s the future impact that’s hard to appreciate.
The question is, will that be enough? Will the savings made in today’s world be enough to sustain us in 2050? Or in 10,20 years beyond that?
That’s the question we must ask – and answer today.
Source: indiatimes.com
Source: valueresearchonline.com
Source: investopedia.com
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24/12/2022
A Housewife or should I say “Homemaker” should know her True Value.
The cost of replacing the services provided by a stay-at-home wife or mother can be higher than we think.
A stay-at-home wife/mother may not earn an income, but think of all she does to keep the household running.
These are just some of the many hidden expenses of losing someone that isn't the "breadwinner."
Childcare
Cooking
Handling financials
Cleaning/maintaining the home
Running crucial errands
And much more…
With the wife gone, life suddenly gets a lot more challenging just to replace her services to the family.
Source: milled.com
Source: indiatimes.com
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23/12/2022
Retiring as a Woman
The COVID-19 pandemic has worsened the Global Gender Gap, and the World Economic Forum predicts it will now take 135.6 years to reach parity with men, up from about 100 years before the crisis hit.
India’s Global Ranking in World Economic Forum (WEF) Global Gender Gap (GGG) Index is one of the lowest in the world at #135 out of #146 countries for 2022
According to the estimates of the World Inequality Report 2022, in India, men earn 82 per cent of the labour income whereas women earn 18 per cent of it.
Women live longer
Gender inequality in the Retirement period is a fact.
On average, women live longer than men (will make it even to 100 or more), but during their working life, they earn less and therefore receive smaller retirement incomes than men.
Women will need to work harder and longer save a lot more for a longer Retirement than men.
Source: weforum.org
Source: thehertribe.com
Source: dcfannuities.com
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Gaurav Life Insurance Genie India
MY CLIENTS DON’T HAVE TO WORRY
That is my goal. I am sincere, honest, and always strive to give my clients the best coverage for their needs. I love saving my clients on their premiums and giving them better benefits.
i want my client to be well informed and be delighted with the experience. I'm deeply passionate about constructing genuine client relationships and personalized financial plans that aim to achieve clients' financial goals.
I offer a variety of solutions that can help you meet a number of insurance and financial needs, including, college funding, retirement, managing costs for extended periods of care and lifetime income strategies. To help you fully analyze your needs and recommend appropriate solutions.
My goal is to help my valued clients protect, grow and distribute their assets in the most tax-efficient manner possible and want to ensure their children will have a financial gift after they are gone.
I am a Life Insurance Adviser proud to offer investment advisory services through Aditya Birla Sun Life Insurance, An IRDA Registered Adviser.
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