5 c's of life
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The document discusses life as a game of chess and managing family finances. It states that to win at chess, and life, you must think about your opponent's moves, not just your own. It then outlines the 4Cs of family welfare economics: creation, consumption, continuation and conservation of income. Continuation of income, ensuring income continues during times like retirement, disability or death, is important so families don't need to rely on charity. Various tools for continuing income are discussed like insurance. The document stresses the importance of balancing the 4Cs to properly manage wealth over time.
5 c's of life
- 1. For a 20 minute Presentation on
- 2. LIFE IS A GAME OF CHESS YOU CAN’T WIN THIS GAME IF YOU THINK ONLY OF YOUR NEXT MOVE.
- 3. LIFE IS A GAME OF CHESS TO WIN THIS GAME YOU HAVE TO THINK OF THE MOVES OF YOUR OPPONENT.
- 4. LIFE IS A GAME OF CHESS MAKE THE RIGHT MOVE CHECK & MATE YOUR OPPONENT IS TIME
- 5. With A SCIENTIFIC APPROACH
- 6. 4C’s of Family Welfare Economics 1.Creation of Income 2.Consumption of Income 3. ?????????? of Income 4. Conservation of Income
- 7. IF YOU DON’T TAKE CARE OF THE 3rd C- CONTINUITION THEN THE FAMILY MAY HAVE TO TAKE THE HELP OF THE 5th C 5. CHARITY
- 8. 1ST of the 4C’s of Family Income 1. Creation of Income Knowledge of taxes increase disposable income
- 9. 2nd of 4C’s of Family Income 2. Consumption of Income
- 10. 4thof 4C’s of Family Income 4. Conservation of Income Wealth Accumulation & Estate Planning
- 11. What are the circumstances due To which 1 st of Family Income can Close 3 major interventions Retirement - - Disability - - Death
- 12. 3rd of 4C’s of Family Income 3. Continuation of Income
- 13. Creation of = Earned Income Income Revenue Expenses Capital Expenses Consumption of Income Helps to Attain and Maintain a Standard of Living Liquid Assets Non Liquid Assets INSURANCE, FDS,PPF SHARES,REAL ESTATE Continuation of Income Conservation of
- 14. HOW WEALTH GETS DISTRIBUTED ? 1. Creation of Income 2. 4. Consumption Conservatio of Income n of Income WEALTH HAS TO BE LIQUIDATED FOR THE FAMILY’S 3. Continuation of Income
- 15. Distribution of Wealth Where do you stand 50 L 50L 1 Cr. 1 Cr. 50 L 50L