Strategic Financial Management for NRIs in Their 40s

Begin by creating a comprehensive net worth statement that outlines your assets and liabilities globally. This snapshot provides a clear overview, aiding in making informed decisions, especially during unexpected job losses.

point ONE

Finances for Security and Retirement

The avoidance of lifestyle inflation is paramount; while the temptation for a luxurious lifestyle might be strong, it’s vital to resist and focus on prudent spending. Emphasise saving and investing for the future, prioritising long-term financial stability over extravagant living.

point TWO

Monitor Debt and Lifestyle Inflation

Obtain a term insurance plan, noting its validity for NRIs abroad, and regularly review the sum assured to ensure it aligns with your family’s evolving needs. Consider investing in medical insurance to mitigate potential healthcare costs.

point THREE

Appropriate Insurance Coverage

This involves creating or updating your will to clearly outline how your assets and liabilities will be managed after your passing. Designating a Power of Attorney ensures a seamless transition of control in case of incapacity.

point Four

Estate Planning Matters

Entering the second innings of life demands careful planning, whether you’re abroad or returning to India. Explore potential career changes or revive long-dormant passions as part of a fulfilling lifestyle.

point Five

Strategize Your Second Innings

PrimeWealth gives more than just investment advice. From budgeting, to cash flow, to savings, to debt management, to estate planning, to risk management, to tax planning, we do it all !