India Post News Service

SANTA CLARA: On October 7, at the Mayuri restaurant in Santa Clara, the IWE (Indian American Women Empowered) held a seminar titled 'An Eye on your Money'. It was aimed at better acquainting Indian women settled in the US on how to save and compound their money in order to secure a bright future not only for themselves, but for loved ones.

The IWE is intended for the social, professional, personal and political growth of Indian American women all over Northern California and from time to time holds lively discussions, debates, and seminars on these issues.Moderated by Dee Gill, a registered Financial Representative with Prudential Financial, 'An Eye on your Money' commenced with a welcome address by Amina Desai, the Chief Executive of IWE.

Although more and more Indian women are venturing into business on their own, dabbling in the stock market and on the whole becoming financially savvy, a large chunk of them have little or no say in their family's financial affairs.Presenting their views on how to manage finances for a better future were speakers Jill Jensen, Rashmi Singh, Sushma Malhotra and Stephanie Brown.Jill Jensen is a Certified Investment Analyst, Vice President and Managed Accounts Specialist for Van Kampen Investments.

Her focus was on how to make the most of your life after retirement. In a country where a person turns 50 every 8 seconds, and where the average life expectancy is 85 years, retirement is no longer the final phase of life, or the end of the line. Retirement is not to be an idle or inactive part of life. Infact, 85% baby boomers say they want to continue to work, not only for financial benefits, but personal stimulation. Jensen informed the audience of what are known as the vitamins C of retirement: Connectivity:

Avoiding moving away from friends and family after retirement. Up heaving one's roots is bound to bring on a sense of isolation. Challenge: A daily challenge of swimming or yoga works wonders for the mind and body. Curiosity keeps one creatively stimulated, and the imagination fertile.Charity: Donating your time or money to social causes is always a source of joy.Rashmi Singh is Director at SVB Private Banking Group. She spoke of the fundamentals of venture capital.

Venture capitalism is a system wherein a venture capitalist invests money in small and fledgling companies to finance its start up or restructuring with the hopes of greater yield in the years to come. Instead of providing a loan, venture capitalists exchange their investments for a stake in the company often in the form of shares, which they will later unload. Singh maintained that this is an excellent way to make your money grow, and stressed the need for a sound financial advisor to guide one through these matters.Sushma Malhotra is a licensed commercial real estate broker and is the Vice President of Strategic Accounts.

In her opinion, investing prudently in real estate has always been a sure shot method of creating wealth. If you fall in love with a piece of property you may have to remember to ask yourself important questions like, "Is it a good investment?" "Are property values likely to go up in this neighborhood?" "Is it structurally sound?" "Can I really afford it?" It's critical to consider these issues before you buy, to safeguard your investment.Stephanie Brown spoke on Creating Wealth by Investing & Financing Wisely. She stressed how vital it is to protect your beneficiaries.

Life insurance is considered a critical component of a personal financial plan for a couple of reasons. First, life insurance helps replace income lost by the death of a wage earner. Second, it can help dependents pay outstanding bills and taxes when one dies. Disability insurance pays an insured person an income when that person is unable to work because of an accident or illness. Nursing home insurance is generally thought of as the predecessor of long term care insurance. Today it is possible to purchase a long term care insurance policy that only provides benefits when the insured is confined in a nursing home.

Overall, each speaker had something for the audience to think about and it was a seminar worth attending.Adding color to the event were women entrepreneurs Rupa Rahman of Style Story with bright Indian clothes, Taruna Khanna of Fashion Facets with woven shawls from Amritsar, Ankora Collection featuring designer clothes and jewelry, and a Mary Kay counter, 'An Eye on your Money' concluded with dinner.