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Ans: It’s common to forget names, works, and data as we age. According to a Scientific American article, forgetting someone’s name is a common misstep. The structure of memory explains why you can often recognize the person’s face and even come up with other details, such as where and how you met, but the name remains elusive. We are often only able to piece together elements from a past event. When remembering what you had for dinner one week ago, for example, you can probably picture yourself sitting at a table with a plate of food in front of you. You can likely recall whether you were alone or with others or whether it was a casual night in or a fancy affair. Your brain, however, offers only crude brushstrokes. It does not create as complete a picture as a video recording would. Vivid, accurate memory is actually a hard trick to pull off for the human brain. Our brain is not wired like a camera; it is composed of billions of neurons that perform many jobs besides remembering. During memory retrieval your brain cheats, filling in the gaps to concoct the most likely scenario1.

There are several strategies that you can use to improve your memory:

Rehearse the information: Sometimes the best way to commit something to memory and reduce the chances it will be forgotten is to use the old standby: rehearsal. Go over the information repeatedly until you’ve committed it to memory.

Write it down: When all else fails, write down important information so that you can refer to it later.

Focus on one topic: Remembering names and faces is often a matter of focusing on one topic — a person’s name, for example — and ignoring the other information going on around you.

Use mnemonic devices: Mnemonic devices are memory aids that help you remember information. For example, you can use acronyms, rhymes, or visual images to help you remember names, dates, or other information.

Get enough sleep: Sleep plays an important role in memory consolidation. Getting enough sleep can help you remember information better.

I hope these tips help you improve your memory. If you have any further questions or concerns, please let me know.

Ans: To accumulate a corpus of ₹1 crore in 10 years, you will need to invest around ₹44,000/- per month, assuming a return of 12% per annum.

However, it is important to note that this is just a rough estimate. Your actual investment returns may vary depending on a number of factors, such as the type of investments you choose and the market conditions.

Let’s evaluate the popular investments option available in India to invest :-

• FDs: Poor returns and heavy losses due to taxation. Ultimately ‘negative’ post-tax-and-inflation returns.

• Insurance Policies: It is not at all a good choice for investment purposes. It has a small insurance component that your child doesn’t need and has bad investment options clubbed with it.

• Provident Funds: Reasonable returns but returns of about 7-8% per annum are not adequate to beat the way inflation and education costs are rising.

• Mutual Funds: Only equity (stock) based investments can meet your long-term wealth creation goal with compounding effect and a small 10% tax will still ensure your money grows in net terms. Equity Mutual Funds with a SIP facility would meet the requirement in the best manner. However, do check whether your risk profile matches equity investments.