The cover story on succession issues (Handing Over your Wealth Baton, May 2011) rightly points out that writing a will does not come naturally to many. Despite being aware of the consequences of not leaving a will and how it complicates matters for their heirs, most people tend to put it off until too late.
Recent events have shown that legacy issues are not limited to us mortals alone but also govern the bequeathal of worldly possessions of a spiritual leader. Bitter rivalries and faction feuds could easily erupt unless one lays down a clear succession plan. What was most interesting to learn was the process of writing a will and how simple it is. Periodic revisions, based on developments, will also help in tracking ones wealth as it grows and inculcate financial discipline.
RAM DWIVEDI, Lucknow
The story on stamps and how it can be used to diversify investments ('Post'ing profits, May 2011) was highly instructive. It illustrated how a simple hobby can be turned into a lucrative source of income. However, it does seem that the Indian market for such alternative investments is not mature enough for people to make it a full-time engagement.
Since there are no regulation or controls over the markets and the players, there is a huge chance of those ignorant of the sector being duped by devious traders posing as experts. One should undertake a thorough study of the market and be fully aware of the value of such commodities before taking investment decisions on collectibles, such as stamps.
SIDARTH GURJAR, Bangalore
It is interesting to learn that product offerings from the mutual fund industry is changing for the better (Towards a better goal, May 2011). Fund houses now prefer goal-based products where investments are directed towards a specific life goal, such children's education and retirement. This is a huge positive for investors.
However, in the long run, the mutual fund industry will be able to retain customers and increase its customer base only if returns provided are attractive compared with other investment avenues. Moreover, to attract fresh investments, it will also be essential for each fund house to differentiate its products from those of their counterparts in the sector.
ABHISHEK RAI, Mumbai
Insuring one's home (Raise a strong protective wall, May 2011) should be as basic as taking a life or health insurance cover. Global events, including the earthquake and tsunami in Japan and more recently the destruction caused by twisters in southern USA, clearly underscores the need to insure not just the home but also other possessions. Yet, many ignore home insurance. In the absence of such cover, the considerable cost of replacing ones possessions, in the event of natural disasters, might be difficult to manage for most.
ADIYODI UNNIKRISHNAN, Pune
ERRATA
In the story on precious metals (A Precious Metals Chain, May 2011) the designation of Aurobinda Prasad should have read Head, Research, Karvy Comtrade Limited. The error is regretted.
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