January 2017

Welcome to COVER & ABOVE  “FOR YOU TO KNOW” Page: The Learning and Knowledge 4U2K in, Investment Planning, Financial Services & Wealth Management.

hosted by Irshad JACKARIA  [BCom (Hons), Dip INV, MSc, MCIPS, CFA]

01st JAN 2017: 4U2K – RESOLUTIONS !

Did you know that 72% of resolutions taken on the first day of the year are not followed through?

This is a reality that, most of us, and not to say all of us, will associate ourselves with. This gets us to think that, for majority of us, either, this period is not meant to take resolutions, or, we do it just for the sake of doing it, as it is the social norm for many.

Resolutions should be an integral part of our lives, as time ticks and as circumstances change. A resolution is a firm decision to do something that we are not doing or not to do something that we are doing. The most important word of this definition is “firm”. Further to this, we will permit ourselves to give you a series of simple and hands-on recommendations to consider on the day you decide to develop your resolution(s):

  • Respect your internal values and do not do something contrary to your inner beliefs. 
  • Expect difficulties and unfamiliarities as you move along. 
  • Specify its deliverables and what exactly you expect to achieve. 
  • Open yourself to suggestions from your environment. 
  • Limit yourself in terms of time needed for its achievement. 
  • Unleash your potential and look for positive vibes around you. 
  • Target achievements that will genuinely matter to you and/or your loved ones. 
  • Invent options and don't always stick to your initial thoughts. 
  • Overview its implementation and follow-up with the same passion that you initially had. 
  • No return on your decision, unless you realise, as you move into its application, that it does not meet the above anymore.  

You may decide to take a resolution on any day of the year, not necessarily on a 31st December or a 1st January. Let is be on your birthday, on the date that you met your life partner for the first time or on any other day that you feel needy and ready. In fact, we believe that the day that you choose to set a resolution has been given too much importance, to the extent that it has eclipsed the real intent, which is to take a decision.  And, with regard to your financial well-being, we suggest that you consider the following possible resolutions:

  • I will appraise my actual financial situation, and develop a financial plan for the forthcoming stages of my life, like wedding, parenthood, financing studies of children, golden age, retirement and post-retirement. 
  • I will start to think about my retirement, knowing that I will not be able to rely only on the universal pension that I will receive at that time. 
  • I will review the financial decisions that I have taken in my life so far, acknowledging the efforts made and learning from my shortcomings.
  • I will develop a disciplined savings plan, including a strong monthly budget as well as an emergency reserve fund. 
  • I will look into establishing an investment plan, basing myself on my future needs, objectives and constraints.

This is only the start. The success of your resolution will be about how self-controlled and focused you are over the coming weeks and months. And, remember, the achievement of a resolution gives birth to a new resolution. Make it your virtuous circle. 


Your Financial Advisor & Wealth Planner

Irshad is the owner director of Cover and Above, launched in July 2016 and of Knowledge of the ART Corporate Training Academy created in July 2003. He was voted the ‘most successful young entrepreneur of the year in Mauritius’ in the Shell Livewire for 2005. At Knowledge of the ART, he develops, launches and lectures courses in the areas of Banking, Financial Services, Investment, Private Banking, Wealth Management and Insurance. At Cover and Above, he provides financial advices and wealth planning services.

These highly practical courses have seen, over the years, participants from HSC holders with no prior experience to banking and finance personnel like tellers, service representatives, officers, supervisors and managers, as well as graduates and charter holders in banking, finance and accounting.

And, in 2016, Irshad earned the Chartered Financial Analyst ® (CFA®) credential and became a member of CFA Institute, Charlottesville, USA, as well as a member of the CFA Society Mauritius.

The CFA credential is the badge of distinction in the investment management profession. It represents a deep knowledge of investments, a commitment to ethics, and a passion for always putting investors first.

The CFA Institute is a highly respected global community of investment management professional excellence and integrity. The achievement of the charter demonstrates diligence and tenacity, and CFA charterholders are recognised for this unwavering integrity, and by earning the CFA charter, one makes a serious commitment to uphold the highest standards of professional education and conduct.