Should you avoid or invest in NPS?
- February 29, 2016
- Category: Product Analysis
The National Pension Scheme (NPS) is a government backed defined contribution retirement product. The objective of NPS is to provide a pension plan to the ageing population of the country. The returns are not guaranteed and linked to markets unlike the traditional pension products. Presently, what is luring investors to consider investment in NPS is the additional tax incentive of Rs.50,000 available under section 80 CCD (1B). This is over and above the Rs.1.5 lakh deduction available under S/80 C. The basic features of NPS are explained in the mind map above. The problems with NPS: While the additional […]
Find the will to write a Will! Simple steps to make one
- February 16, 2016
- Category: Estate Planning
You spend more than half of your lifetime in creating wealth through assets like property, investments, gold, vehicle, etc. But what happens to it when you are gone? You may have nominated your loved ones across various assets but they are not the true owners, only trustees. Amongst your children, you may want to give more to the financially weaker one. Not just the money, specific things which hold sentimental value, you may want to bequeath to certain members. In the absence of a Will, the law of succession will apply, i.e., your property will be distributed equally amongst your […]
Planning for a family? Plan your finances first!
- February 2, 2016
- Category: Financial Planning
Birth of a child is one of the most important life changing events for a couple. Having a healthy child, doing up the baby room and buying all the kiddy stuff are topmost on the minds of wannabe parents. But amidst this excitement, they forget about future finances. It costs a bomb to raise a baby in present times. It is not just the maternity costs, doctor visits and regular baby expenses like clothes, toys, baby foods, stroller, cradle, pram, medicines, etc. Check out this list of additional expenses: One time cost incurred on social functions in the range of […]