Part 3: Goals or What the heck is Financial Freedom in my case, exactly?
3.3 Make your Bucket List before you kick the bucket
Do you know what all you want to have and do in your lifetime? Is it just a vague idea or is it something more definite? How real is this in your mind, because that’s what decides whether it will happen or will instant gratification take over? Have you taken the first step to making it happen?
There are so many things to choose from that most people don’t know what they want in their life, want to own, to experience, before they die- kick the bucket. It’s like walking into a huge shopping mall without a clue of why you are there and what you want to buy and then you know what happens. When you leave the mall, you have a huge bill to pay on your credit card, loads of things you don’t have the place to keep nor the time to use; you’ve eaten some junk food, had some drinks and you can’t remember where you parked your car. In life the only difference is it f…… doesn’t matter where you parked the car because when you are done shopping you are departing in an ambulance if you are lucky.
We don’t want this to happen to us. So, we need to do a really simple thing. Make a shopping list. Since this is your ultimate shopping list before you kick the bucket, it’s called the Bucket List.
In this chapter you will be making your Bucket List. Relax, this list is first and foremost for yourself and you don’t need anyone’s approval for what you put on it. If you are planning to do this like a couple thing, I suggest you both make a list individually first and find a way to combine it. Planning for it happens latter.
Now, find a quiet place to read this chapter and make your list.
Core Bucket List: Doing these things will make you feel good about yourself. This contains all the things that you hold yourselves accountable for-the stuff we accept comes with the roles you play in your lives; call it duty to self and others if you wish. Here are some...........Read More
MoneyWorks4Me method for rating and ranking mutual funds for SIP
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and
ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the
various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Performance Consistency: This is measure based on whether the fund has beaten the benchmark index consistently. For
this we compare the 3-year rolling returns of the fund with the benchmark for a minimum of 5 years and preferable 10
years. The period of rolling is one month and holding period is 3 years. Fund are color-coded Green on Performance when
the fund beats the benchmark more than 90% of the time. It is Orange if it beats 80% to 90% of the time and Red if less
than 80%. Funds with less than 5 year data are color-coded Grey.
Quality of Portfolio Holding: Moneyworks4Me has color-coded stocks as Green, Orange and Red based on whether the
company's performance has generated a ROCE above a threshold level (cost of capital) over 10 years (minimum 6 years) and
generated positive Free Cash Flow. For Banks it checks whether ROE is greater than 15% and sales has grown over previous
year. Stocks that perform consistently on these combined metrics are color-coded Green (min score 14 out of 20), Orange
(between 8 and 14) and Red (less than 8 out of 20).
Fund are color-coded Green provided the portfolio has 70% holding in Green stocks but not more than 20% in Red stocks.
Funds with more than 20% Red stocks in the portfolio are color-coded Red. The rest are Orange funds
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The
ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number
that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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