Insurance

Retirement Planning – Not Something That You Defer

Retirement – will mostly happen someday or the other.  But have we done our work on that? Can we do anything to increase the retirement incomes & savings? Yes, we can!  No matter where we are on the road to retirement, we have three tools at our disposal:  Save More Increase your savings rate. Save more while you can. Keep increasing the savings basis your increase in income.  It will surely show you the results in the future.  Time Is Precious – Use It Wisely The new workforce generation may think they have a long time to save for retirement, but, as an old adage says “The early bird always catches the worm”, starting to save late wastes one of the most important assets, ie, time. Time helps investments do their work by compounding returns & growing the wealth. With changes in hea...

The Master Key For Your Financial Plan: Womens Day Special!

We all look up to strong, independent women. But how do we become one ourselves? Its easy to give in to feelings of self-doubt and back down from challenges. But that’s certainly not what being a strong woman is all about.We all know we’re different from men in some fundamental ways. But is this true when it comes to financial planning? In a word, yes. In the financial world, we often find ourselves in very different circumstances than our male counterparts. Everyone wants financial security. Yet we often face financial headwinds that can affect our ability to achieve it. CHALLENGES FACED BY WOMEN IN FINANCIAL PLANNING: Financially speaking,  women have longer life expectancies. Women live an average of 4.8 years longer than men. A longer life expectancy presents several financial challeng...

Have You Started Your Financial Planning?

We all have dreams, be it owning a car, a house, child attending a prestigious college or building a healthy retirement corpus. But we seldom pen down these goals and work towards a plan for achieving them. These can be termed as your life goals. And that is where the importance of a financial plan comes into the picture.  Financial planning is a process of determining your financial goals with the help of  available resources in a period of time. Financial planning involves wealth management , tax planning , estate planning, retirement planning ,investment planning , insurance planning and cash flow planning.   Need For Financial Plan : A financial plan Helps you to make the right investment decisions which helps you to grow your money A financial plan gives you a clear picture of how muc...

Valentines Day Special

Valentine’s Day is probably celebrated almost everywhere in the world today. This is a day which is celebrated not only by couples but anyone who is in love , who has feelings , who cares and who has a rich bonding with anything and everything . It can be a bond shared between a dog and his master or a bond between a toy and a child . Love is also another name of care, because when we care we protect them , when we protect we invest time in them. So what are your plans for this Valentines Day? What has your girlfriend demanded this time? Oh! Your wife must be expecting a diamond ring isn’t it? Valentine’s Day is one of those golden opportunity days each year where a little effort goes a long way. So why not make these efforts from day one . Here are few tips to make this day a Hassel free ...

New Job? Things You Need To Know About Saving Tax And Investing Your Money

One of the most elated aspects of your first job is living life on your own money but fresher’s need to realise the importance of financial viability and the tips and tricks to handle  your money through saving and investing. Well, first of all you won’t be having too much tax deduction depending on your salary if being fresher. Also you can produce rental receipts and exempt your most of your tax once produced to your HR. There are several other investment options which you can perform to save tax namely PPF, ELSS and NSC can be used as a tax saving investment by people looking for fixed and secured returns. An investor who is also looking for creation of wealth can opt for mutual fund schemes that invest in the equity and equity related instruments. ELSS schemes are ideal in such cases. ...

Why Should You Insure?

To insure is to protect or secure oneself from a possible contingency. The future is very unpredictable and unless you have a time machine or you can foretell future events like Nostradamus you cannot know what will happen tomorrow. The upcoming event may either be beneficial or it may unfavourable. While the favourable circumstances are always welcome, we cannot skip or escape the unfavourable event as there is no way to prognosticate its occurrence. The best thing we can do is be prepared for such loss bearing circumstances – Insure yourself. Insuring is the second step in the achievement financial self-sufficiency after saving – We save for a possible contingency. The money saved is used when the contingency arises. The concept of using one’s own money that was saved to cover a possible...

What Are The Various Schemes To Save Tax?

Paying excessive tax? Every individual wants to invest in funds that don’t extract much tax. Even though every salaried person needs to pay a fixed tax, there are exemptions on certain incomes. Are you aware of the number of schemes available through which you can pay less tax? Here are a few of them Through Mutual Funds: Income earned through mutual funds is exempted from any tax under SEBI. The best funds to invest in would be ELSS mutual funds. A good ELSS fund can build wealth for investors if held for a long term. Also, it has a potential of higher return. Also, you can get some of the investment back if you opt for the dividend option. Through Pension: National Pension Scheme is beneficial for individuals having risk volatility, looking to set aside money towards retirement. Maximum ...

5 Financial Policies To Be Followed For Your Thirties

Are you nearing thirty ? Then, following are the policies that you could follow to have a thriving thirty and improve your finances Reallocate your funds : Your goals have now differed from when you were twenty to when you are thirty so adjust and allocate funds to your changed goals. At twenty, the money which was spent on shopping on bags may now be changes to shopping with the same amount for your baby’s diapers. Adjust your insurance coverage : Make sure the type of insurance provided to you is still benefitting you 100%. Various insurance schemes may be very enticing to you, but you need to select the best one according to your changing needs and wants of your family members. Save upto 15% for your retirement : 30 is the exact age when you need to start building up your savings for re...

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