Raksha Bandhan is a festival celebrating the beautiful bond of a brother and sister. And this year it will be celebrated on the same day as Independence Day! How can you squander this opportunity to set goals that can make the life of your sister independent and easier? So the biggest gift as a brother that you can give to your sister this Raksha Bandhan is to help her set goals and achieve them in order to make her independent.
Thus being a brother you can help chalking out a plan for her this Raksha Bandhan.
1. Being a brother, this Raksha Bandhan you can ensure she has adequate life cover. If she is earning and helping out the family, then the first thing she should have is, insurance for herself. A typical rule of thumb is to have life cover equal to 8-10 times the annual income. And this Raksha Bandhan you can gift her insurance plan.
2. ‘Health is wealth’ and it is our most important asset and any diseases can put a full stop in your life. So ensure she and her loved ones are covered through critical illness and health coverage. This will be the true 'Raksha' gift, which will help her to grapple with extenuating circumstances and emerge victoriously.
3. If your sister is working, married with children then you can push her to ensure that her children’s educational aspirations should not suffer due to the shortage of funds. Thus, it is important to start investing to attain this long-term plan.
4. This Raksha Bandhan, you can gift your sister a financial advisor who will guide her that how to go about to achieve all short term and long term financial goals in life and how to correct the mistakes, she committed in the past.
This Raksha Bandhan, the responsibility for the millennial Bhai and behen is to sit together and plan prudently for each other’s wellbeing. Chalk out strategies to invest for each other in order to attain long-term financial wellbeing. Ensure that your brother and sister is ready to face any exigency of life. From this year onwards make a resolution that this festival for you is a celebration of each other’s wellbeing, ensuring each one of you are ready to face life with proper planning and investing. Thereby fulfilling the oath of protecting one another.