Expert Zone

Straight from the Specialists

Why financial planning is important

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(The views expressed in this column are the author’s own and do not represent those of either Quantum AMC or Reuters)

The unexpected sight of a familiar pair of shoes placed on the shoe rack at home evoked memories of my dad, who died a few months ago.

I remembered how, in the weeks after his death, I had to sort out his finances and realised all was not well. It was his frugal habits that allowed him to amass wealth and not optimal asset allocation.

Do you ever wonder what your family would do if you died today? I did and realised I had to be better prepared. I am not as frugal as my dad but do have some of his habits and manage to save. But was it enough?

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