Category: Financial Planning

Plan Your Estate the Day You First Own a Property

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Plan Your Estate the Day You First Own a Property

Did you watch the blockbuster Bengali movie ‘Belaseshe’? The movie is about an elderly couple. The husband is stressed due to a complete lack of financial awareness of his wife. The elderly gentleman follows an extreme path to make the lady financially independent. The veteran artists’ duo Late Soumitra Chatterjee and Late Swatilekha Sengupta do a fabulous job.  The film shows a tough ride that the couple face. However, there is an easier and better way the husband could have used to plan his estate – which probably the movie’s blockbuster director duo missed out on! There are many more similar …

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How Tax Planning Can Help You Create Wealth

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How Tax Planning Can Help You Create Wealth

Tax planning is not just paying less tax. The objective of tax planning is not to deprive the authority of their due revenue. Tax planning is associated with efficient management of taxes payable with the right knowledge of tax laws and rules and their applicability at the right place to draw the right strategy. Evasion of tax liability is a temporary relief and can put the taxpayer into multiple liabilities in the future. But tax planning can save taxes in legal ways and result in more and more savings besides saving you tax. Tax planning should be done ahead of earning the money. Tax management comes to play …

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Basics of Investment Planning that can help you meet your financial goals

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Basics of Investment Planning that can help you meet your financial goals

The fundamental principle of investment is – it must be planned. There are various products available for investment, we group them into asset classes. There are several examples of asset classes and sub-asset classes, such as: 1. Shares 2. Debts 3. Precious metals 4. Infrastructure & Real Estate 5. Alternative Assets For small investors, there are some easier vehicles designed for investment. For example- 6. Mutual Funds 7. Infrastructure Investment Trusts 8. Real Estate Investment Trusts When there are so many options to choose from, how can one go about it? The easiest way is to go for a Mutual Fund, …

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All You Need to Know About Retirement Planning in India

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All You Need to Know About Retirement Planning in India

The average life expectancy of people has increased. Most people prefer living in nuclear families. At one point in life, everyone stops earning. Often, we find earning life and retired life are almost equal. Elderly parents do not like to depend on their children. They take care of their day to day expenses, medical care, ageing related issues and lifestyle expenses for two decades and more. Their financial freedom depends on their retirement planning at a much early stage of life. When to start your retirement planning Ideally, retirement planning must start the day one starts earning. In practice, you start paying …

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How Insurance can Protect You from Uncertainty in Your Life

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How Insurance can Protect You from Uncertainty in Your Life

Life is uncertain. Insurance is for protection against uncertainty. So when we buy insurance, our objective is protection. In this blog, we cover everything you should know about insurance. How insurance works Let us begin with a simple story. There was a village beside a river. The river used to flood every year and four houses on average used to get destroyed due to the natural calamity. The village was such that all the houses were located within proximity to the river and they were all at an equal risk of damage. So all the villagers knew that four houses would break, …

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Why is financial planning important for our future?

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Why is financial planning important for our future?

Financial planning gives a direction to our lives. Without knowing our finances, our goals and the timeline we expect to reach each goal, life moves like a rudderless ship.  A person, who knows the following facts, leads an organised life in terms of money matters than one who doesn’t know them clearly, despite whoever earns more: We all know a few facts, or we can know them easily – how do the sovereign bonds grow in the country (the risk-free rate) and how the consumer prices are growing (inflation). We all know the most certain in life is to die, but we do not …

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