India Markets open in 5 hrs 11 mins

Does Your Investment Portfolio Have These Essential Ingredients? Monika Halan Says It Should

The Smarter way to get your business news - Subscribe to BloombergQuint on WhatsApp

“A good money box is one that allows you to streamline your cash flows,” says certified investment adviser and author Monika Halan.

Halan’s concept of a money box is based on a real money box with different cells for different needs. In her recently released book “Let’s Talk Money” Halan lists the many cells an ordinary citizen should have.

  • Three bank accounts - to separate income, spending and investment cash flows
  • Five types of insurance - health, life, critical illness, accident and home (also group insurance for families)
  • Three types of investment cells - for short, medium and long term investments
  • One emergency account/fund
  • And a retirement account/fund

While that sounds like an overwhelming amount of financial paperwork to take care of, Halan explains why it’s necessary in this interview clip.

Click here to read more about Halan’s book or watch the full interview with her.

The Smarter way to get your business news - Subscribe to BloombergQuint on WhatsApp

. Read more on Portfolio by BloombergQuint.