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There is a famous saying in the financial industry – “Don’t put all your eggs in one basket”. This simple pearl of wisdom is to help investors understand that by spreading your money across different...
Read MorePlanning your financial goals is a methodical process that starts with setting your goals using the SMART (Specific, Measurable, Achievable, Realistic, and Timebound) rule and creating an investment...
Read MoreThe EPS account is a part of your EPF account. However, if you have joined the service after September 1, 2014, and earn over ₹15,000 a month...
Read MoreHere are some simple strategies to help you save more money: Create a Simple Personal Budget: Develop a detailed budget that outlines your income and expenses. Allocate specific amounts...
Read MoreLife insurance is an important financial tool that provides protection and financial security to your loved ones in the event of your untimely death. Life insurance ensures that your loved...
Read MoreYou can withdraw from your PPF account only after the account has completed five complete financial years. The withdrawal cannot exceed fifty percent of the amount that stood to your...
Read MoreTo calculate your net worth, you need to subtract your total liabilities (debts and obligations) from your total assets (what you own). Here's a step-by-step guide...
Read MoreYou should ideally avoid buying investment-linked insurance products to meet your financial goals. Insurance shouldn’t be looked at as an investment product. If you need life insurance, purchase a pure-term plan. Term plans are economical products compared...
Read MoreManaging your investment portfolio in retirement requires a careful and thoughtful approach to ensure a balance between growth and preservation of capital. Here are some key considerations...
Read MoreNo, PPF investments are limited to 1.5 lakhs per financial year, regardless of what you deposited into the account in the previous...
Read MoreInvesting from a young age can have a significant impact on your financial life in several ways...
Read MoreA financial advisor plays a crucial role in investment planning by providing guidance, expertise, and personalized advice to help you make informed investment decisions. Here are some...
Read MoreHere are some of the vehicles you can invest in to save taxes: National Pension Scheme: NPS is a voluntary pension scheme regulated by PFRDA that offers tax benefits...
Read MoreFixed deposits and gold are entirely different asset classes. The decision between buying gold and investing in a fixed deposit (FD) depends on your financial goals. Fixed deposits are suited...
Read MoreThere are several reasons why it is advisable to buy health insurance in your 20s: Lower Premiums: Generally, health insurance premiums tend to be lower for younger individuals since...
Read MoreRetirement planning can help you secure your financial future and enjoy a comfortable retirement. The power of compound interest, benefits of long-term investing, increasing life expectancy...
Read MoreDebt is a helpful tool that can be used wisely to achieve our goals. It allows us to access money that we don't currently have, enabling us to seize opportunities and make progress. However...
Read MoreBoth critical illness coverage and term insurance are a must for your personal finance. Deciding whether to take a critical illness rider along with term insurance depends on various factors and your...
Read MoreHere are some guidelines that can help you retire happily: · Calculate your corpus accurately: Your retirement plan will only be fruitful if you have a clear idea of the goal you are saving for...
Read MoreWealth creation is a journey. Let’s imagine you have a passion for growing a beautiful garden in your backyard...
Read MoreSovereign Gold Bonds or SGBs can be purchased through brokers, online via RBI Retail direct platform, designated post offices, and scheduled private and nationalised banks. The bonds can...
Read MoreA good financial plan takes into account both your short-term and long-term goals. Creating a financial plan...
Read MoreHere are some good tips to save your taxes in 2023: · Compare Old v/s New tax regime: The new tax regime has gotten better after the recent budget. This change has made the new tax regime more comparable to the old regime and beneficial in most...
Read MoreLong-term investing has a lot of benefits, like helping you accumulate a good amount of wealth and meet important financial milestones in the future. It is important to invest as per your risk tolerance and financial goals to get the best results. A SIP of 1K for the next ten years will...
Read MoreYes, term insurance is crucial if you have business liabilities and dependents on your income...
Read MorePlanning for a stress-free early retirement requires careful consideration and preparation. A good financial plan can help you live a stress-free retirement...
Read MoreHere are some of the ways you can invest this surplus: · Build your emergency fund: An emergency fund can help you meet unexpected expenses easily...
Read MoreChild insurance plans are either a variation of endowment plans or unit-linked policies that have maturity payouts. The payout can be either a lump sum or in annual installments...
Read MoreThe importance of planning for your retirement can be summarised in the following points...
Read MoreBefore you start investing, you should understand yourself. It means understanding the purpose of investment and the risk you are willing to take (or can take). Investing shouldn’t be blind...
Read MoreHere are a few easy ways to make a habit of saving money: · Make saving automatic: One of the easiest ways to save more money is to make it automatic. Set up an automatic...
Read MoreHere are some financial suggestions that can be useful if you are a self-employed or salaried individual...
Read MoreEstate planning should start the day you own assets. It is an important exercise that can help you avoid unnecessary...
Read MoreFirst, have a clear idea of the total cost of your trip(s) that you are planning in the next 2-3 years. You can use a...
Read MoreBeing a diabetic patient, it's not impossible to obtain a life insurance policy, either if you have type 1 or type 2 diabetes. The chances of getting insured increase if you have managed your diabetes well for a minimum of six to twelve months with consistent medication and controlled...
Read MoreDetermining a retirement corpus can depend on various factors, such as your current age, expected retirement age, expected retirement lifestyle, and projected expenses during retirement...
Read MoreA savings plan is the backbone of a good financial plan and helps you allocate a portion of your income toward saving for different purposes. This approach allows you to take control of your financial future by giving you the ability to set aside funds each month...
Read MoreChild education forms a substantial part of a parent’s budget. Higher education inflation and the higher outlay make it pertinent to plan early and be prepared in the best possible manner...
Read MoreRetirement planning is a very important part of financial planning that should be started early. The key is to contribute as much as you can and make investment decisions that align...
Read MoreCreate a budget: Know your income and your expenses. Budgeting helps you allocate your income across different expenses each month. If you don’t have a budget, you will lack discipline...
Read MoreAs a woman in your 30s, you have several investment strategies available to help you build wealth and meet your long-term financial goals. Here are some options you may want to consider...
Read MoreRisk profiling is the process of assessing your willingness and ability to take on risk when investing. It is a crucial step in creating a personalized investment plan that aligns with your financial goals and risk tolerance...
Read MoreEstate planning is a very important exercise you should carry out for yourself and your family. A good estate plan prevents harassment and loss of time and money due to intestate succession...
Read MoreThere are several resources available to learn more about stock investing. Here are some options...
Read MoreNot necessarily. The need for life insurance depends on various factors, including the financial situation of the family and the roles and responsibilities of each family member. For example, if...
Read MoreFirst, you should calculate the right retirement corpus you should accumulate by 60. Is the 5 Cr sum sufficient to cover all your present expenses (inflation-adjusted) till your expected life after...
Read MoreHere are some simple steps you can take to create a financial plan for yourself: · Set your financial goals: It is crucial that you set short, medium, and long-term financial goals. Your goals...
Read MoreDon’t buy life insurance for returns or for saving taxes. Life insurance should be bought only if you need it– which is when you have financial dependents. Life insurance helps you protect your dependents from financial shocks that can arise if you die unexpectedly...
Read MoreCreating a good equity stock portfolio requires careful research and analysis. Here are the steps you can take to start investing...
Read MoreHaving a financial plan can provide numerous benefits, such as: · Clarity on financial goals: A financial plan helps you identify and prioritize your financial goals, such as retirement...
Read MoreThe new tax regime has changed much beginning in the 2024 FY and may be more beneficial than the old one in some cases. Let’s look at your tax calculation under both regimes...
Read MoreAs a beginner, it is recommended to split your investments/SIPs into at least two different categories of mutual funds. If you are investing for the first time in equity or equity-oriented funds...
Read MoreLife insurance can provide financial support and security for your family in the event of your unexpected death. Here are some ways life insurance can help your family...
Read MoreThe right age would be now or today. Retirement planning should begin as early as possible. Retirement is a long-term investment goal that is planned to replace your current expenses...
Read MoreHere are some practical ways you can save more money and manage your finances better: · Create a Budget: Start by creating a monthly budget that outlines your income, expenses, and savings goals. This will give you a clear idea of where your money is going...
Read MoreHonestly, there are no pros to taking a life insurance policy disguised as an investment vehicle for your child. The reasons are simple. The first is that life insurance is a protection or risk management...
Read MoreInvesting in life insurance and retirement fund are very different types of investments that serve different purposes. Life insurance is about risk management, whereas investing for retirement is...
Read MoreAdvantages of Investing in Mutual Funds: · Diversification: Mutual funds invest in various asset classes/investment avenues, which helps you diversify your portfolio and reduce risk....
Read MoreWhile investing in the top 5 large-cap and top 5 mid-cap stocks may seem reasonable and even better from a few backtests, there is no guarantee that these stocks will continue to perform well in the future...
Read MoreAs per current savings, you will likely see a shortfall of more than 9 lakhs. Given your investment horizon, a return of 11% p.a has been assumed. This is the expected return from vehicles like equity mutual funds...
Read MoreEstate planning is essential for all. Preparing a Will is important if you want a say in how you would like your assets passed down in your absence. If a person dies intestate (Without a Will), their...
Read MoreAt any given time, small-cap funds are relatively riskier than other categories of mutual funds like large cap, flexi cap, midcap, etc. These funds invest in stocks of companies with small market...
Read MoreThe cost of health insurance for a 60-year-old woman can vary widely based on various factors such as the type of plan, the insurance provider, the sum insured, and the health history of the...
Read MoreThe amount you need to save for retirement depends on several factors, such as your retirement age, expected retirement expenses, lifestyle, and expected income. However, you can use a retirement calculator...
Read MoreThere are several steps you can take to build your wealth over time. Here are some tips: Set financial goals: Define your short-term and long-term financial goals, and create a plan to achieve them...
Read MoreNo claim bonus or NCB is a form of incentive offered by insurers to reward policyholders for having a claim-free year, which is available for both individual and floater plans. It is offered...
Read MoreThe amount of money you should save for retirement depends on various factors such as your lifestyle, expected retirement age, expected expenses during retirement, and expected sources...
Read MoreNo. Mutual funds are investment vehicles that pool money from multiple investors to buy a diversified portfolio of stocks, bonds, or other securities. Their performance is subject to market risks and uncertainties, and there...
Read MoreIf you opt for the old tax regime, you can save taxes by claiming various deductions that are available under the income tax rules. A sum total of 2 lakhs deduction will be sufficient for...
Read MoreDividend investing can be a good strategy for some investors. That's because dividend stocks provide two sources of return: regular dividend payments and capital appreciation of...
Read MoreSystematic Investment Plans (SIPs) can be a good way to invest for retirement. A SIP is a investment method in which investors make regular...
Read MoreIf your spouse or children still depend on you financially, you should buy a term plan if you don’t already have one You may also have other dependents on your income, like your parents or...
Read MoreConsidering your high risk appetite and an investment horizon of more than five years, here are some of the best options...
Read MoreRiders are add-ons or additional benefits that can be included in an insurance policy to get extra coverage and benefits. Some of the common types of riders that can be included in an insurance policy are...
Read MoreRetirement planning is a crucial aspect of financial planning. Here are some of the best investment options for retirement if you want to invest in instruments that provide stable returns...
Read MoreMutual funds are a popular investment option and offer several advantages over other forms of investments. Here are some of the advantages of investing in mutual funds...
Read MoreHow were debt funds taxed? Debt funds enjoyed indexation benefits if you sold the units after three years. Indexation means inflating the purchase cost of your investment value by the inflation rate during...
Read MoreSovereign Gold Bonds (SGBs) are gold-backed securities issued by the Government of India through the RBI. Each SGB unit's value is based on 1 gm of gold with 999 purity, and the price is determined by...
Read MoreYes, health insurance can be very effective and helpful in real-life situations and emergencies. Here are some reasons why...
Read MoreSaving for retirement is an important part of financial planning. Here are some steps you can take to save for retirement and the best investment options to consider...
Read MoreUpon retirement, 40% of the accumulated corpus in NPS must be converted into an annuity. You can opt for 100% Withdrawal if the total accumulated corpus is less than or equal to 5 lakhs at the time of retirement (60 years)...
Read MoreEducation expenses form a significant portion of expenses that a parent must plan for their children. Not planning them could put any family under financial burdens later on, leading to...
Read MoreHere are some potential strategies to consider: Define your objective: Investments should be as per your objective or financial goals in order to achieve the best results. Are you looking to grow your wealth...
Read MoreInvesting in the stock market for the long term requires a disciplined approach and a willingness to hold investments over several years. Here are some steps you can take to start investing in the stock market...
Read MoreAs per your question, you are single, and your prime dependents are your kids. You should continue your term policy if your kids still depend on your income. Even if your kids have grown and completed their education, it may happen that they will still need some financial support...
Read MoreGenerating an income of one lakh per month will require your investments to grow at 24% annually (12L/50L), assuming you keep your capital untouched. This is not a realistic rate of return...
Read MoreThe amount you need to save for retirement depends on various factors, such as your lifestyle expectations (expenses at retirement), your desired retirement age, and your life expectancy...
Read MorePPF and bank FDs are good debt investment options for meeting your investment objectives. PPF is a sovereign guaranteed tax-free debt instrument with a maturity of 15 years. Fixed deposits...
Read MoreDiversification is important in investing because it helps to reduce the overall risk of your portfolio. By spreading your investments across different asset classes and industries, you can...
Read MoreInvesting with less risk typically means accepting lower returns, but there are strategies that can help you to achieve higher returns with relatively lower risk. Here are some tips for investing...
Read MoreEstate planning is the process of creating a plan for the management and distribution of your assets and properties after your death. It is an important process for everyone, regardless of the...
Read MoreAs an investor, assessing a company’s financial prospects, its reasons for raising funds, and understanding the business environment the company operates in is more important for you...
Read MoreNo, not all health insurance can be claimed only if hospitalized. Depending on the type of health insurance policy, benefits can be availed even if the insured person is not hospitalized...
Read MoreSeveral savings and investment strategies can help you to prepare for retirement. Here are some of the best ones...
Read MoreThe type of investment portfolio that is appropriate for you depends on several factors, including your financial goals, risk tolerance, investment horizon, and current financial situation. That being said...
Read MoreA deductible is a fixed amount of money that you are required to pay before your health insurance policy starts covering your medical expenses. The deductible amount is usually specified in the health insurance policy...
Read MoreIf we keep the strategy safer, you can first opt for two risk-free Government schemes available exclusively for retirees – SCSS and PMVVY...
Read MoreCreating a budget and saving as per your goals & risk profile is paramount. Having a budget will help you understand your income and expenses clearly. If you do not prepare budgets or do not have an idea...
Read MoreWhen buying shares during a bullish market, investors are typically optimistic about the overall direction of the stock market. They believe that the company's stock price will rise in the future. During a bullish market...
Read MoreCreating a budget is an important first step in achieving your financial goals. Here are some steps you can take to create a budget that works for you...
Read MoreEstate planning refers to transferring assets/investments down from one generation to another. Some important factors that you can consider for your estate planning are...
Read MoreThe SIP Plan will depend on your risk appetite, too. Risk appetite is basically how much volatility you are comfortable with. Volatility can make investors uncomfortable and withdraw...
Read MoreThis depends on how well you are acquainted with the intricate details of health policies, claim processes, and other procedures. If you are buying a policy for the first time, taking the help of...
Read MoreWhat is the old pension system (OPS)? Under OPS, retired employees received 50% of their last drawn salary as monthly pensions. OPS was discontinued by the central government...
Read MoreChoosing between stocks, bonds, and other investment vehicles can be a daunting task for investors, but here are some important factors to consider...
Read MoreHealth insurance premiums paid for family and parents qualify for tax deductions under the old tax regime. For individuals under the age of 60, the applicable deduction is 25K each financial year...
Read MoreRetirement portfolios shouldn’t aim to achieve higher returns but rather aim to achieve a higher return by minimizing portfolio downside. The portfolio should ideally consist of more steady return instruments and regular income products like SCSS, debt...
Read MoreCompound interest refers to the process of earning interest on an investment and then reinvesting those earnings to earn even more interest. Over time, the investment grows...
Read MoreIn finance, there is a concept called the risk-return tradeoff, which means that the higher the potential returns of an investment, the higher the risk you have to take on to achieve those returns...
Read MoreYou should first note down your expenses and construct a portfolio of income-generating vehicles. Depending upon your expenses and other income sources (like pension, if any), figure...
Read MoreStarting from FY 2023-24, the new tax regime will see a lot of changes that were announced in the union budget. Some notable changes include the increase in the basic exemption limit, no income tax for net taxable income up to 7 lakhs, and the...
Read MoreREITs are investment vehicles that allow investors to invest in a diversified portfolio of income-generating real estate assets. REITs own and manage income-generating properties such...
Read MoreInsurers offer a free look period of 15-30 days to cancel the policy if the policyholder is not satisfied with the policy’s terms and conditions. Under the free-look period, you can receive up to 100% of the premium paid...
Read MoreInterest rate: PPF interest rates are aligned with G-sec of similar maturity, with a spread of 0.25 percent. The PPF interest rate is reviewed by the Government every quarter. The interest is calculated...
Read MoreAfter the supreme court ruling on the EPS, subscribers can retrospectively contribute 8.33% of their basic + DA (8.33% of actual Basic and DA and not subject to 15K or 6.5K limit) to EPS via a deduction from their EPF corpus. This means the pensionable salary limit...
Read MoreThis amount can be invested as per your goals and risk appetite. If you have a short-term goal you can invest the amount in safe and liquid instruments like short-term FDs, Gsecs (T-Bills), and liquid mutual funds. How much the investment should be will...
Read MoreInvesting in equity stocks can be risky, but with proper risk management, it is possible to minimize the potential losses and maximize the potential gains. Here are some ways to manage...
Read MoreInvestment planning for short-term goals should focus on liquidity and safety of capital rather than achieving the best possible returns by taking higher risks with investments. In order to...
Read MoreYes, the deduction is available in the old tax regime and not in the new one. The loan should be taken for higher studies (in India or outside India) of self, spouse, or children or for a student...
Read MoreThe amount a person should invest in mutual funds depends on their financial goals, risk appetite, and investment horizon. As a rule, it is recommended that investors should invest...
Read MoreThe policy may or may not cover depending on the exclusions and pre-existing diseases waiting period. If you had an appendix problem while applying for a policy and didn’t mention it while...
Read MoreEdited Q: How is pensionable salary calculated for EPS pension? EPF Pension or EPS is provided for employees covered under the Employees’ Provident Fund Organisation (EPFO). The pension benefit of the scheme can be availed only if you have provided a service...
Read MoreFirst, decide the ideal emergency fund that is applicable to you. This is based on your present essential living expenses and should be ideally 6-9 times of that. For instance, a person with 30K as monthly living expenses should ideally have an emergency fund of 1.8 lakhs...
Read MoreYes, a wide range of top-up policies are available. Top-ups are an effective way to enhance the coverage of your existing health insurance policy by providing additional protection at an affordable cost. It is an excellent option...
Read MoreThe best way to achieve these goals is by including them in your retirement corpus calculation. While planning for your retirement corpus, apart from including your basic expenses to calculate your retirement, you can also map the goals you would like to achieve during...
Read MoreDeciding whether it's better to invest in real estate or stocks depends on your investment goals, risk tolerance, financial situation, and personal preferences. Both real estate and stocks...
Read MoreREITs, or Real Estate Investment Trusts, are investment vehicles that own and operate income-generating real estate properties. Through REITs you can invest in real estate without the need to purchase...
Read MoreIf your decision is purely based on the fact that the policy wouldn’t lead to good returns or inflation-beating returns, you can consider calculating the policy XIRR and see the numbers before...
Read MoreIf you opt for the old tax regime, you can save taxes by claiming various deductions that are available under the income tax rules. A sum total of 2 lakhs deduction will be sufficient for you to not pay any taxes. In the old tax regime, if your net taxable is up to 5 lakhs, the...
Read MoreDividend yield funds are equity mutual funds that invest in high dividend-yielding stocks. Dividend yield funds can be a good choice for your portfolio if you want less volatility and aren’t seeking aggressive growth. Companies that are stable and consistently...
Read MoreHealth insurance is best brought early to get comprehensive coverage, lower premiums, and not run the risk of not having coverage during retirement. Buying late can lead to rejection, higher...
Read MorePPF is a good alternative for short-term funding requirements if you have a matured account. PPF is a Government backed and fixed return vehicle. Hence, it is a good place to park your funds...
Read MoreA Systematic Investment Plan (SIP) calculator is a tool that can provide a number of benefits to investors. Here are some of the key benefits of a SIP calculator...
Read MoreHomeowner's insurance is a type of insurance that provides coverage to protect a person's home and personal property against various risks and damages. This insurance can cover...
Read MoreRetirement planning should be a must inclusion in your financial plan. A well-planned retirement can help you meet your expenses after retirement and live a comfortable retirement life. Inflation and long-life expectancy make it essential that planning begins early...
Read MoreThe type of mutual fund a beginner should invest in can be decided using the steps below: What are you investing for? Are you saving for a goal? Is the goal short-term? Is it medium-term...
Read MorePublic Provident Fund (PPF) is a popular savings and investment option in India due to several factors, including: ▪️ Government-backed: PPF is a government-backed savings scheme that provides a degree of safety and security
Read MoreInvesting can be a great way to grow your wealth and secure your financial future, but it also comes with risks. Here are some strategies to reduce risks while investing: Due Diligence: Before investing in any security or asset, it is important to...
Read MoreThere have a few changes to the new tax regime after the recent union budget, and it is likely to impact your choice between the two regimes. This is due to some added benefits to...
Read MoreA Systematic Investment Plan (SIP) calculator can help you calculate the estimated returns from investing through SIP mode or calculate the amount of SIP required. SIP is a type of investment...
Read MoreIf you pay off your home loans early, it can help you reduce the amount of interest paid over the tenure of the loan. This is because interest is calculated on the remaining principal balance...
Read MoreA share buyback can have both positive and negative effects on a company's earnings per share (EPS) and EPS growth rate...
Read MoreInsurance is a protection product designed to help you protect yourself and your dear ones from unexpected events that could impact your finances. It could be an unplanned hospitalization...
Read MoreHere are some tips that can help: Determine your needs: The first step is to assess your health insurance needs, considering factors such as age, existing health conditions, family history, and the amount...
Read MoreHealth insurance becomes increasingly important as you age due to the higher likelihood of health issues and medical expenses. To get proper treatment without burning...
Read MoreI'm a cool paragraph that lives inside of an even cooler modal. Wins!
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