https://www.icofp.org/ - Blog , CFAhttps://www.icofp.org/ - Blog , CFAhttps://www.icofp.org/blogs/CFASat, 08 Aug 2026 12:40:45 +0530http://zoho.com/sites/<![CDATA[Retirement Planning for Childless couples]]>https://www.icofp.org/blogs/post/retirement-planning-for-childless-couplesDo they need more Corpus Do they need less as compared to couples with children Many couples who do not have children think that without the cost of rai ]]>

Retirement Planning for Childless couples


  • Do they need more Corpus
  • Do they need less as compared to couples with children

Many couples who do not have children think that without the cost of raising children, they will need less money in retirement and they can retire early. They also will not have to spend for grand children  
In fact child-free couples have to face a different set of financial goals, risks and priorities, and, ironically, may need a larger retirement corpus.
The biggest risk is miscalculating the cost and complexity of ageing. Child-free couples need to ask practical questions early:

1. Who will step in if they can no longer manage on their own?
2. They will be dependent on some other person obviously
3. There is financial implications also
4. As they grow older, they may need nursing support, assisted living, specialized medical care or a full-time caregiver.
5. For many child-free couples, each partner is the other & primary caregiver.
6. If one is no longer able to provide that support, the substitute is often money—a corpus large enough to pay for care when needed.
7. Parents with children know that their children will help coordinate care, make decisions and, if required offer financial support.
8. Child-free couples do not have that safety net.
9. Their financial plan must therefore clearly provide for care, support and decision-making in later life.

Retirement planning is not merely having adequate amount of money, it also includes Non-financial aspects such as maintaining physical and mental health, pursuing hobbies, maintaining social connections and making living arrangements like moving to a smaller house, nearness to friends and relatives or may be shifting to senior citizen living homes etc.

Madhu Sinha

Dean

International College of Financial Planning 

]]>Wed, 05 Aug 2026 11:15:00 +0530<![CDATA[Rising wealth in India needs a succession plan]]>https://www.icofp.org/blogs/post/rising-wealth-in-india-needs-a-succession-planSilent expectations, legacies turning into legal chaos Property in India carries emotional and financial weight. As wealth of Indians is increasing, t ]]>

Silent expectations, legacies turning into legal chaos Property in India carries emotional and financial weight. As wealth of Indians is increasing, the focus shall not be only on accumulation but to desired transfers also. Real estate will sit at the centre of that journey Over 65% of civil cases in India are linked to land and property disputes, i.e., family feuds fill up over half our courts. These legal disputes can drag on for years, even decades and all the related parties suffering immensely. In India, when it comes to property, emotions run as deep as the value is high. Whether a family is wealthy or middle class, the story is often the same: vague succession, silent expectations, and a legacy that turns into a legal mess. This is why succession and estate planning can no longer be postponed as something ‘for later’ or ‘for the ultra-rich’. It is responsible financial decision. A global study by The Williams Group, a United States-based wealth advisory firm, found that nearly 70% of wealth is lost by the second generation and up to 90% by the third when succession planning is inadequate. In India, the wealth engine is accelerating. As many as 1,687 Indians now have a net worth of Rs.1, 000 crore or more. In 2025 alone, 103 initial public offerings raised a record Rs.1.75 lakh crore, according to Prime Database, marking one of the largest capital formation years for India’s markets. Families spend decades building property portfolios and the value is eroded by fragmented ownership, unclear rights, emotional disputes, liquidity crunches, and tax inefficiencies. Well-structured estate planning preserves both capital and continuity. Role of family trusts: Family trusts have emerged as one of the most effective tools for incorporating property into succession planning. By transferring real estate into a trust, the settlor separates ownership from management. Trustees administer the assets for chosen beneficiaries as per a clearly expressed trust deed. The advantage of this is continuity. Instead of fragmenting across generations, property remains intact under a single governing framework. The trust can define if an asset is retained for rental income, developed purposefully, monetised gradually, or preserved as legacy. Income distribution policies can be structured thoughtfully, with successor trustees pre-identified for unified governance Ring-fencing: Protecting core assets: An important dimension of succession planning is ring-fencing or protecting assets from business liabilities, litigation, debt, or cyclical downturns. Family can create a legal boundary between business risk and legacy wealth by transferring real estate to a structured trust. Passing on wealth, not costs: In India we do not have inheritance tax but it does not make inheritance tax-free. If inheritance tax is introduced, it would eat into the wealth of unprepared families. If someone sells inherited property, he has to pay for capital gains. He earns rent, the income tax to be paid on rental income. Add multiple heirs, the tax exposure gets fragmented and inefficient. This complexity is multiplied if you add stamp duty, registration, or cross-border heirs. Smart planning can optimise this. Families should time asset sales for long-term capital gains benefits, structure ownership for tax-efficient income flows, as well as build liquidity buffers to avoid distress sales just to meet tax or maintenance obligations. The government’s recent move to scrap mandatory probate of wills in certain jurisdictions may streamline succession procedures, but it can’t replace structured tax-aware planning From ownership to responsible management Indians love real estate, especially wealthy ones. An August 2025 story in The Economic Times, citing a report by Bernstein Private Wealth Management, stated that the top 1% of India’s wealthiest citizens have parked 60% of the wealth in real estate and gold Inheritance planning for real estate must extend beyond documentation to active management— like a financial portfolio. Trim underperforming assets, improve leasing, make timely redevelopment calls, allocate capital wisely, and ensure compliance. If real estate is left unattended, it may drag down returns even if it looks like wealth on paper. Mechanisms such as professionals for management, periodic reviews, and next generation education can turn inheritance into stewardship. Heirs are gradually inducted into decision-making processes, gaining financial literacy and responsibility. Integrating real estate into succession planning ultimately shifts the conversation from ownership to purpose. Clarifying intent through trusts, ring-fencing of assets and tax-efficient structures ensures that future generations inherit clarity, not confusion. In India, property carries both emotional and financial weight. Left to default inheritance, it fragments. Planned well, it anchors wealth across generations. As Indian wealth increases, the shift has to be from accumulation to intentional transfer. Real estate will sit at the centre of that journey. Madhu Sinha Dean ICoFP
]]>Thu, 23 Apr 2026 08:29:58 +0530<![CDATA[2019 General Elections & its Impact on Indian Sock Market]]>https://www.icofp.org/blogs/post/2019-general-elections-impact-indian-sock-market
General Election 2019 is the thing now every investor is waiting for. But why the elections are considered to be much more important for stock markets. Why every tom, dick and harry associated with the stock market is saying 2019 elections as a key trigger for the markets? Let us explore the facts behind this and see where the markets are expected to head ahead.General Election 2019 is the thing now every investor is waiting for. But why the elections are considered to be much more important for stock markets. Why every tom, dick and harry associated with the stock market is saying 2019 elections as a key trigger for the markets? Let us explore the facts behind this and see where the markets are expected to head ahead. General election results decide the apex authorities for the country. The elected party will be responsible for the policy formulation and other economic decisions for the country. These decisions are directly related to the stock prices, as the favourable policies lead to industry growth and vice versa. Therefore elections are considered to be crucial for the stock markets. Generally, in the pre-election period the government's past actions and election manifesto are considered to be the indicators for the future. Therefore, if investors find government optimistic on certain sectors then they start betting on the best possible stocks among that industry or sector, which further drives their prices. On the basic level for everyone, the anticipated reforms and government plans drive the market sentiments. This is the only relation between the stock market and the general election. Upcoming election 2019 is a litmus test for BJP government. The biggest regulatory changes, tax reforms GST, Demonetisation have been carried by this government. Moreover, the export policies and other policies to boost small businesses are the key takeaways in the last 5 years. Let us take the example of General Elections of 2009. Dr. Manmohan Singh led UPA Government won the elections favourably with a comfortable majority. But before the results came out, Sensex was around 12000. After the results declaration and subsequent trading on the next day Sensex hit 2 upper circuits and closed around 2100 points up taking its level to over 14200 and gaining almost 17.4%, Its single largest gain in a single day in its entire history. Nifty too gained over 17% over the Pro Government Sentiments. Investors were euphoric after the United Progressive Alliance emerged victorious in the 2009 general elections. General Election 2019 are not only important for BJP but also for all the stock market investor. The history shows that stock markets have always favoured with the stable government and good economic reforms. The best example for this is the market movements in 1991. In the election year (1991) markets, market shot up almost by 200% due to the good economic reforms and strong budgets. A similar thing could be observed in 1999 which was the technological boom era where stock markets appreciated really well. It’s not only the election which drives the stock market rally but the decisions made by the government. This makes us crystal clear that elections have the material impact on the stock markets in the short run. But in the longer term, the decisions of the government and the economic growth matters more. Election in 2019 can bring volatility in the markets; however, the strong economic growth can offset this. If the election result favours BJP, then it may turn a big positive. The investors would start betting on the sectors where progressive government policies would be pointing out. IT, pharma industries as well as textile and paper industries are some of the key beneficiaries of last year. And if the government changes then the market may see another crash soon. Huzefa Lokhandwala MBA-FP (2018-20)
]]>Tue, 29 Jan 2019 06:23:38 +0530<![CDATA[Inverted Yield Curve]]>https://www.icofp.org/blogs/post/inverted-yield-curve
Overview: In good economic times, yields on government bonds tend to track an upward curve, since longer term bonds carry a higher risk of inflation. The curve inverts when shorter-term debt—like 3-month Treasury notes—offer a higher interest rate than a longer-term bond such as the 10-year Treasury bond. On 22nd march, 2019 the yield for 10-year Treasuries fell below than the yield for 3-month Treasuries, marking the first appearance of such an inversion since 2007, months before the financial crisis triggered a stock-market rout. If the inversion persists in coming weeks, it could be a bad sign for stocks and negative spread also indicates sign of recession as per the past data. Currently on April 5, 2019 spreads are at 0.07 still in the downtrend from last few years. Yield curve Vs S&P 500 Vs recession: Such inversions have occurred seven times since the early 1950s and all but one preceded equity gains. Specifically, the S&P 500 Index rose a median 19 months before peaking after an inversion, with returns reaching 21 percent. Even after an inversion, it usually takes about 19 months for a recession to hit the economy, data compiled by Canaccord showed. US Unemployment rate:US National home price index since 1950: If we see inflation adjusted home price index it is still at peak but below 2007 levels and if we see spread between mortgage rates and expected increase in home value it simply not indicatiog such disruption like recession due to home prices, which we have seen in 2007 recession Yield curve 2018 vs 2019:Europe current situation: On march 22nd Germany’s worst manufacturing survey in seven years sent investors rushing to buy bonds. For the first time in three years yields on German ten-year government debt fell below zero. Canadian yield curve inversion: The yield on Canada’s 10-year bond dipped to 1.57 percent Monday, or 10 basis points lower than the rate on the three-month Treasury bill, compared with a gap of 6 basis points. That inversion hasn’t happened since 2007, at the start of the financial crisis sparked by a U.S. housing crash. The 10-year inflation-linked bond, meanwhile, offers a negative yield in real terms, after accounting for consumer prices. Ayush S.Mazumdar, MBA-FA (2018-20)
]]>Fri, 26 Apr 2019 06:00:22 +0530<![CDATA[How secure is your future?]]>https://www.icofp.org/blogs/post/how-secure-is-your-future
Invest and save when you start working to achieve all the goals of your life and to move comfortably into a retired life, pursuing interests you never had the time for Retirement can be a time for travel, golf, spending time with grandchildren or pursuing a hobby. It could also be a time when you anxiously count every penny you spend and worry about your future. What it is going to be like will depend on how well you have planned while you are still working. “It is never too early or too late to start planning for retirement, “But, the earlier you start, the better. By saving a small amount today and investing it wisely, you can create a corpus that will take care of you in the years in which you are no longer earning. “Not so long ago, one used to think about retirement planning only for his or her post-retirement life, but, the recent layoffs of employees have made people realize the necessity of planning early for retirement.” Building a corpus Planning for your retirement is, at its best, an educated guess. The size of your retirement corpus will depend on several factors, including your health and where you want to live. Generally, the rule of thumb is that you will need 75% of what you spent before retirement to maintain the same lifestyle after retirement. But, to get a fair idea of the amount you will need, you have to answer certain questions
  • When do you want to retire?
  • Are you planning to retire early?
  • What kind of lifespan do you expect?
  • Are you planning an estate for your next generation?
If you are planning to retire early, you will have to save more money every month as your accumulation phase (The phase when you are working) will reduce and the distribution phase (when you retire and start withdrawing money) will increase. Then there is inflation which will eat into your capital if the portfolio is not well diversified into different asset classes like, Equity, debt, gold and real estate etc. Where to invest This depends on your age and risk-taking appetite. If you are in your 20s and 30s, equity is your best bet. “In the short run, returns from equity are highly volatile. But in the long run, they are mostly positive and likely to beat inflation,” Investing in mutual funds through systematic investment plans (SIPs), which involve setting aside a portion of your monthly disposable income for a particular investment option is recommended option. SIP helps to spread your risks as you buy regularly over a period of time, which averages out your cost of purchase. For those in their 20s and 30s, with retirement still more than 30 years away, nearly 70% of the total portfolio should be invested in equity and about 30% in fixed-return instruments, such as public provident fund (PPF), employer’s provident fund (EPF) and national savings certificate (NSC), Bank FD etc There is a need to review and revise the portfolios regularly to see that asset allocation is not deviating from the desired level. Madhu Sinha CFPCM , CIWM Author (Financial Planning A Ready Reckoner and Retirement Planning A Guide  for Financial Planners) Campus Director, Former Director, FPSB India 
]]>Wed, 28 Nov 2018 10:50:20 +0530<![CDATA[How do I become an equity research analyst?]]>https://www.icofp.org/blogs/post/become-equity-research-analyst
Do you have a passion that calls you for studying and analysing financial information and interpreting data? If you feel like doing so, then, it’s time to make a world-class and tip-top career in equity research. It’s high time to make your career flourishing. But be aware that the job of an equity research analyst is not only demanding but challenging too. The research mountain you should climb The job of an equity research analyst involves reviewing stocks, bonds, and other financial instruments and making a transparent and impartial report. The past can’t be future, and similarly, the education attained in schools can’t make you an efficient equity research analyst. Now the question arises, “How do you become an equity research analyst”? For this, undoubtedly, you need a degree or diploma in Business management or finance from a respectable and well-thought of college. Not only this, but you should have or develop a deep interest in the finance industry and economy. Additionally, you can also go for some technical courses like the CFA® program so you can make waves in the finance industry as an equity research analyst. The power to make the best career You have the power to create a career in your life that has an impressive sense of self-worth. All you need is a rational and analytic mindset, logical thinking and reasonable and interpretive research skills. In any field, both written, as well as verbal communication skills, are required. So, make it your goal to improve them daily, so you don’t feel nervous and insecure while making reports and interpreting them to the senior management. Upscale your current skills by doing professional courses which lead to the augmentation of your technical knowledge. Are you a career pursuer in equity research? If you are a dedicated career pursuer in equity research, then, financial training programs from International College of Financial Planning will help you. This will help you in learning and covering programs related to financial markets, investment banking, financial planning, economic analysis, techniques related to equity valuation, stocks reviewing, report writing and more.  Whether you are a teenager or not, you can decide well what are you going to do the rest of your life when you start working as an equity research analyst. The programs will make you interact with industry leaders, portfolio managers, professional investors, and top-notch industry experts. "On the job experience" will make you ahead of your peers. It can be a year from now, you could be the professional equity research analyst, you have liked for the longest time.
]]>Fri, 23 Nov 2018 08:06:46 +0530<![CDATA[Top 5 Short Term Courses in Finance in India]]>https://www.icofp.org/blogs/post/top-short-term-finance-courses-india
The world is getting tougher, and the competition is getting fierce. Mere graduation or a post-graduation degree in your arsenal would not help you stand out and secure the job of your dreams. And this is no less than the truth in the world of finance as well. While graduation or post-graduation is necessary, in today's world, it won't help you gain a competitive edge over everyone else. To get decent opportunities with respect to securing jobs, one can do specialization or professional courses. But one must have a very clear vision regarding where their interests lie. This will help you to choose the optimum course for yourself. There are many short-term courses available in India which you can use to hone your skills. To help you choose your interest, we have compiled a short list of courses highly preferred by students and employers alike:1. Certified Financial Planner (CFP): If your interest lies in Financial Planning, Wealth Management or Banking, this is the perfect course for you. Many people lack awareness regarding Personal Finance, but things are changing, people are looking for professionals who can help them with it. This is where you come in. This course is internationally recognized and can fetch you some really good opportunities to excel in your career. Click here for full details: Certified financial planner course2. National Institute of Securities Market (NiSM) Certifications and NSE's Certification in Financial Markets (NCFM) The NiSM/NCFM Modules offered by the NiSM or National Stock Exchange Academy (respectively) are one of the most recognized certifications in the capital markets industry. If you want to work in a Stock Brokering Firm or a Bank in wealth management or equity trading or fixed income trading desk or support functions, these certifications can provide an added advantage. 3. Financial Modelling: Financial Modelling can be termed as the backbone of the financial market. Your job in this field will be to analyse historical data, and performance of an industry/company, and build financial models to improve their performance in the future. So? Do you want to become a Financial Modeller? 4. Financial Risk Manager (FRM): As a Financial Risk Manager, you are expected to identify and manage the risks that can get along with any investments or any business. The certification will also help you in roles like Risk Assessment, Financial Risk Consultant, and Asset Liability Management. These short-term courses will definitely help you in improving your skills and securing good jobs. Although, if you are looking for something much more comprehensive and detailed, you can always go for a CFA Program: 5. Chartered Financial Analyst (CFA): CFA is not a short-term course but it is one of the most comprehensive professional courses available. It is one of the few courses that can give an MBA Finance a serious run for their money. It is a globally recognized program that mainly focuses on imparting Investment knowledge to students. The program covers a broad range of topics relating to investment management, financial analysis, corporate finance, stocks, bonds, and derivatives, and provides a generalized knowledge of other areas of finance. So? Is this the course for you? Click here for full details:  Chartered Financial Analyst® (CFA® Program) The opportunities in the world of finance are huge, the only question is, are you ready to take on the challenge?
]]>Fri, 17 Aug 2018 04:45:19 +0530<![CDATA[CFA meets MBA: The Amalgam]]>https://www.icofp.org/blogs/post/cfa-meets-mba-amalgam
Well I am a CFA level III Candidate and quite naturally so I chose to write about my current subject of interest, CFA. Kids these days have to do so much to increase their employability and be abreast with the current industry standards and requirements. If I talk about myself I started my Masters in Financial Management in 2012 and while pursuing the course I was quite certain that I also wanted to do CFA. But I finally sat for my Level I exam in the June of 2016. What I am really talking about here is the lapse of time, 5 of the most crucial years of the early 20s of a person’s life. So my advice to you if want to do CFA and you are quite sure of it, Start Early!! So recently I stumbled upon International College of Financial Planning and discovered their unique, integrated MBA program in Financial Analysis. This super-specialized MBA program covers 100% of the curriculum of all the three levels of the CFA program and also has additional subjects relevant to the Indian context. It is such a win-win. While you get your MBA degree from the University of Mysore (UGC certified) you are also academically equipped to sit for the CFA exams. How cool is that! Started in the year 2011, this is a one of its kind program. For one it is based on an industry oriented international curriculum of CFA that is globally recognized and acclaimed. The international recognition that comes with this highly sought after qualification for investment professionals, opens the doors of global financial markets making international placement opportunity quite possible. Some of the highlights of the program include a 2-month internship that allows students to take a glimpse of how the financial world actually functions and associate closely with the roles and activities keeping the choice of career path in mind. Focus is also on combining theoretical knowledge with the practical application in such a way that it increases employability of the students. Semester 1 contains CFA level 1, semester 2 is all about CFA Level II and Level III is covered in Semester 3 and Semester 4.Some of the practical aspects of the course include imparting the basic know-how of share trading and capital markets and basic and advanced learning of financial modeling, a tool that complements the learning of the CFA program and is high on the employer's list of required skills. Globally the various job profiles most suited for a CFA include Investment Banking, Portfolio/Fund Manager, Credit & Risk Analyst, and Equity Research among others. So if this is the kind of career you are looking for yourself I would highly recommend that you enroll yourself in the MBA-FA program at ICoFP.   Blogger details: Diksha Dumra CFA Level III candidate
]]>Thu, 05 Oct 2017 05:26:06 +0530<![CDATA[Equity Valuation: The Perspective]]>https://www.icofp.org/blogs/post/equity-valuation-the-perspective

While other modules of the CFA curriculum enables a professional with various tools and ways to reach a conclusion, Equity valuation part of the course helps them develop a perspective as an Analyst. As subjective and as differentiated we are as humans, so are our expectations, this module assists us in analyzing different expectations on the same podium.

The topic area is only worth about 10% of CFA Level 1 exam but is extremely important in the other two levels and through your career as an analyst. Much like the introductory material on Financial Statements, this material will act as base knowledge you absolutely must know. Most of the material is conceptual and will be a repeat for students of finance. If you are new to the industry, spend a little time to get the vocabulary and concepts.

Equity represents a residual ownership on the company’s assets. This implies higher risk but also potentially higher return, hence equity analysts have a reputed position in the industry. Not just when you interview for hard core equity research, but most finance job interviews make you witness questions from this module, cost of equity  and return on equity being the most frequent and favorite starters of interviewers.

A specific part of this course raises discussion on private company analysis, which is not only blur but uncertain due to lack of transparency, what makes it opaque is your analysis. This module helps you discover as an analyst, you not only look at the company from top and down angles but with experience discover loopholes which help you forecast in a much better way. When the time comes, for the real race of life, when we sit in the midst of 100’s of our fellow analysts, this base of our perspective built over the years helps us win the battle.

]]>Tue, 18 Jul 2017 12:13:49 +0530<![CDATA[Set your career well by joining the CFA training institutes]]>https://www.icofp.org/blogs/post/set-your-career-well-by-joining-the-cfa-training-institutes
At present, there are many students are choosing the charted accounts which allow them to become a top notch auditor forever. In fact, this course enables the students to find direct jobs without any hassle. Most of the students are having an interest in learning the charted finance that allows them to get professional excellent in it. Of course, this should consist of highest ethical skills for handling the finance and other business related issues within a simple step. Obviously, the CFA holders are measured to get a global connection by choosing the right training institutes forever. Since, it consists of several stages which allow the students to get everything based on the charted need. Furthermore, the CFA have decided to work with great professionals who enable the students to shine well in financial need. It deals with a business administration that allows the students to learn well efficiently. Shine well in business oriented jobs Fortunately, the CFA training institutes provide good way for the students to get financing planning for everyone. In addition to this, the international levels of certification degree courses are slightly give business program forever. Moreover, the International College of Financial Planning(www.icofp.org) takes place in giving the right career path to choose from this one. So, it allows the aspirants to enrol themselves in giving the proper guidance on selecting the top CFA training institutes forever. In addition to this, it should meet based on the great professionals who need to provide charters finance analysts jobs forever. You may shine well in learning the financial analyst jobs which help the students to set their career easily. Furthermore, it is essential for the students to grab attention on professional cfa training institutes to undergo without any hassle. If you want to shine well in life, the best cfa institutes are providing possible chances to offer based on the students requirement. In addition, the students have to exhibit various colleges that provide international level of certification degree courses forever. Quantitative methods of CFA Further, the cfa training institutes provides good approach for admitting the students and join the courses online. It have provided by lots of degree courses that enable them to join the master of business administration level. They are specially made by giving right opportunity for the students to pay attention on charted financial analyst course. So, most of the students have to succeed in the charted account analysis and thus serving the business requirement. In addition to this, the planning is essential for the students to join the financing and accounts based on it. Moreover, the finance planning is necessary for the students to get wide results on business administration level. The courses have taken by quantitative methods which are applicable for professional standard experience forever.  Plus, it helps the students to undertake speculation level on meeting the best cost effective techniques for all. So, this is essential for the students to undertake the charted financial analyst to get a job easily. As a result, the students have to get international level training to maintain the career level higher.
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