DSP Mutual Fund launches Alimony Calculator

DSP Mutual Fund announced the launch of a first-of-its-kind Alimony Calculator to equip and empower women who are going through divorce. This is especially crucial when women are experiencing a life-changing event that carries its own set of challenges that can disorient them. A part of the Winvestor Initiative of DSP Mutual Fund, the calculator aims to guide women to understand their current and future expenses and therefore the corpus needed today to meet those expenses that will not alter her current lifestyle.

The alimony calculator hosted on the DSP website (www.dspim.com/alimonycalculator) will help women determine the alimony amount by filling in details like expenses related to household, utilities, medical, insurance, entertainment, holiday, child support among others and also aims for a fair calculation by asking her to add her income, inheritance, paternal support and current bank balance. Based on certain (flexible) assumptions and inputs from the woman, the alimony calculator will calculate a corpus needed for her to maintain her lifestyle. The benefit is to feel secure and have a baseline number in mind while in discussions. The calculator will eventually offer an option to connect the women with a Winvisor (a female financial advisor who can guide her better with her finances).

Commenting on the launch Ms Aditi Kothari Desai, Director and Head, Sales & Marketing, DSP Investment Managers Pvt. Ltd. said, 'Divorce can be stressful and emotional. A general lack of knowledge, coupled with emotions taking precedence over logical thinking, often lead to a skewed division of marital assets. Our alimony calculator aims to arm women with the necessary math needed to ascertain the corpus needed for her to continue her lifestyle while still being very fair to the other party by also asking her to disclose her income, parental support etc. There are a lot of discussions and arguments during this tiresome and insecure period, the least of which should be the basic math needed to determine alimony. The inputs and expenses and assumptions could be debated, but the underlying math should not. In conclusion, we hope women can feel empowered by having a tool that can be a start to financial independence to many.'

Source : Equity Bulls

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