Category: Financial Planning

Why is Risk Profiling Crucial in Financial Planning?

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Why is Risk Profiling Crucial in Financial Planning?

What do you usually think of before investing your money?  If you have ever sought financial advice, you would have come across the term risk profiling. Financial advisors are keen to dig out and examine this vital area. So, what is risk profiling all about? Why not just invest your money to generate the maximum returns? Things aren’t that simple. There is a limit to the risk you will be willing to bear for those returns. What is risk profiling? The objective of any investment is to generate an optimal rate of return. But every investment involves a certain degree of risk. If there is a higher risk, a …

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12 steps towards a happy married life

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12 steps towards a happy married life

It’s a wedding season. A lot of preparations are happening around if there is a wedding in the family. From shopping, beauty treatments, cooking classes, grooming classes to honeymoon, all may be there on the to-do list. If you are one of the grooms or the brides-to-be, did you plan for your post-marriage life, in terms of money? If not, you may start it today, taking your spouse-to-be in confidence. This would probably be the most important factor for your happy life. Last but not the least, all the above exercises must be jointly done with the spouse and he or she …

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Gold prices are falling. Should you invest in Sovereign Gold Bonds?

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Gold prices are falling. Should you invest in Sovereign Gold Bonds?

Sovereign Gold Bonds are a more remunerative and tax-efficient way to invest in gold. But given the continuous decline in gold prices over the last 16 months, should you bet your money on the ninth tranche of SGBs that the Reserve Bank of India has started offering last Monday (10 January)?  The issue closes on Friday (14 January), and the issue price of the bonds – equivalent to the cost of 1 gm of gold with .999 purity – has been pegged at Rs 4786. The near-month gold contracts traded at Rs 47890 (per 10 gms) on the MCX.  This means that the …

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4 Steps to Basic Insurance Planning

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4 Steps to Basic Insurance Planning

Insurance Planning is a very crucial part of financial planning. Listing down your goals and investing for them assumes you will have a constant flow of income to save for them. However, various variables constantly affect your income and well-being. You shouldn’t ignore the possibilities of mishaps or unforeseen events, ultimately putting your goals and finances in a precarious situation. Unexpected events like the sudden passing of an earning member or medical emergencies can dent a massive hole in your finances, as the pandemic has proved. Insurance Planning helps you take care of the financial uncertainties that may arise in your life, which can either …

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6 POINTS TO CONSIDER FOR A NEW YEAR RESOLUTION ABOUT YOUR FINANCES

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6 POINTS TO CONSIDER FOR A NEW YEAR RESOLUTION ABOUT YOUR FINANCES

Are you making a resolution this new year? Is it a financial one? No? Okay, no judgements here.  Everyone wants more control and clarity over their finances, and well, you definitely might have thought about getting things in order but maybe never quite got the time to see it through. Yeah, with all the stuff we have on our hands, we wouldn’t dare to blame you. Resolutions about finances are similar to all the other resolutions you may have made over the past years in that it is a step towards a better you. What better time than now to renew and steer …

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10 Ways to Save Tax – beyond 80C

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10 Ways to Save Tax – beyond 80C

Most people start tax-saving investments when the financial year is about to end. Those investments are mostly related to taking the benefit of 80C, on 1.5L per annum. Some people are aware of the additional tax benefit of 50k under section 80CCD(1B), by investing in NPS. Here let us discuss some less known tax-saving ways beyond the benefit of 80C.  1) Are you a Government employee and contributing to General Provident Fund (GPF)? You can contribute from 6% of your salary to 100% as per your own choice and interest on your annual contribution up to 5L will be tax-free. This is because …

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How to choose a good health insurance policy?

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How to choose a good health insurance policy?

With the times we are in, health insurance is on everyone’s mind, and it’s rightly so. Buying the right policy can make all the difference in your life. With medical inflation skyrocketing, it is even more pertinent to be familiar with health insurance policies. The number of health policies available in India is upward of 150 – you may not be entirely correct if you think this gives you a lot of choices. A large number of choices gives rise to what is known as the paradox of choice –it describes how people generally get overwhelmed when faced with a …

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10 Points You should know about Bharat Bond ETF

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10 Points You should know about Bharat Bond ETF

Close on the heels of RBI launching its platform, RBI Retail Direct, to facilitate retail investors purchase government securities, treasury bills and sovereign gold bond, the Union government has come up with its third tranche of Bharat Bond ETF issue opening for NFO subscription from 3 December 2021 and closing on 9 December. Thereafter you can buy or sell units of Bharat Bond ETF from stock exchanges.    If you are on the lookout for a safe investment instrument offering higher return and tax benefits compared to bank fixed deposits and at the same time having the liquidity of a stock exchange, bond ETFs …

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10 Things to know before buying a Health Insurance

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10 Things to know before buying a Health Insurance

The amount of premium you pay for your health insurance policy should not be the only determinant for selecting a health insurance plan. Cheaper plans provide only a basic cover and may not offer all the features you need. In contrast, the more expensive ones may provide additional benefits which you may never use. Before you choose a Health Insurance Policy, you may consider the following pointers to select the most suitable option for yourself- • Individual Policy vs. Family Floater Plan – This covers all family members from children to senior citizens under a single plan. The cover floats on all …

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Looking to invest in G-Secs? Here’s What You Should Know

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Looking to invest in G-Secs? Here’s What You Should Know

With all the buzz around RBI’s new Retail Direct platform, we are thrilled to cover government securities (G-secs) in this week’s blog. Through the RBIs retail direct platform, individual retail investors can now purchase G-secs directly from the RBI without the involvement of intermediaries. Before you go all-in with your G-secs investing spree, let’s understand G-secs and risk and returns you should be aware of. G-Secs are debt instruments issued by India’s central or state government via the RBI (Reserve Bank of India) to borrow money from the investors. This is a frequent source of fundraising by the government agencies to finance infrastructure …

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