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  • Should you buy riders with Term Life Insurance?

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    Click to Enlarge Buying life insurance cover is one of the most vital aspects of Financial Planning. And choosing a suitable life cover is a very important decision. Term insurance has the been the simplest form of life insurance product to understand. The insured pays regular premiums during the policy term and in the event of his death, the nominee gets a lump sum death benefit. But even with a simple term policy, many a times, there is confusion among buyers. It is because of the extra features called the insurance riders which come on offer along with the base [...]
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  • How do you select and buy a Term Insurance Plan online?

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    Click to Enlarge Most life insurance companies today offer term insurance plans online. The premiums of these plans come at less than half the price of the insurance plans bought offline. The absence of an agent between the customer & insurer and low operational costs are the primary reasons for such low premiums. Unfortunately, this is the starting point in selecting a term plan. With information available online, a prospective buyer usually compares premiums of term insurance plans on websites to check out which one is cheaper. However, it should not be the only criterion to select a term plan. [...]
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  • What is the One thing that a Woman should do for her Financial Security?

    • March 12, 2019
    • Category: Woman
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    Click to Enlarge It is an irony that while many women are financially independent today, they are not financially empowered in a true sense. They may be diligent savers but not truly involved in managing their personal finances. The financial baton is passed onto father, brother and later after marriage to spouse. Working women may feel they are financially secured but that may not be true always. When life throws certain harsh bouncers, the financial hardships experienced by women make them wish that they had more money at that crucial time. Many women realise this in hindsight and also regret [...]
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  • 7 Parental Expenses that were uncommon or did not exist a decade ago

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    Click to Enlarge Raising kids from the millennial generation was so much easier than it is now. In this highly networked world today, the choices are infinite for Generation Z kids. The parental pressure is hence immense in giving the child the best of everything. The cost of raising kids today has also gone up. And not only due to inflation, but also because of the societal and parental shift in the way kids are being raised today. This has led to new age parental expenses. Here are expenses which today’s parents feel the need to shell out: 1. External [...]
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  • Key highlights of the Union Budget 2019

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    How do the budget proposals impact the common man?     Tax Rebate up to Rs.5 lakh taxable income: For individual tax payers having annual taxable income up to Rs.5 lakh (after availing deductions), the Budget has proposed full rebate of Rs.12,500. So, if the total tax payable is lower than or equal to Rs.12,500, then there will no tax payable on the income. This is going to immensely benefit the tax payers in the lowest tax slab. To illustrate: Here you can see, for an individual below 60 years, after availing all the deductions, his taxable income is reduced [...]
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  • Why should you plan for your Annual Recurring Expenses?

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    Click to Enlarge You have a fair idea about your monthly expenses and must have a budget for it. But what about your annual recurring expenses? How far ahead do you plan for it? Or do you just routinely pay for it from past salary earnings which pile up in savings account over a period of time? Some of the typical recurring expenses are:  Vacation expense (short trips once or twice a year) School/College fees of children  Membership fees (Gym, Club, professional network)  Insurance premiums Festival expenses (travel, party, gifts) Annual health check-up Maintenance (incl. vehicle, electronic items like washing [...]
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  • NPS Withdrawal made Tax Free, Should You Invest Now?

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    Click to Enlarge One of the biggest pain points that investors find in the National Pension Scheme (NPS) is the taxation part. Of the 60 per cent corpus that could be withdrawn lump sum at age 60, about 40 per cent is tax free and 20 per cent is taxable under the present rules. Now, in a recent development, the government has exempted even the 20 per cent from tax taking the tax exemption limit from 40 per cent to 60 per cent. This means that the money invested in the scheme (up to a limit) is exempt from tax, [...]
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  • Are Debt Mutual Funds Risk Free?

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    Click to Enlarge Many investors have a general perception that while equity and equity mutual funds are volatile, debt mutual funds are risk free. They also see debt funds as an alternative to fixed deposits which can yield higher returns than the latter. The primary reason behind this misconception is that investors fail to understand how a debt fund works. Debt funds are risky for sure and unlike equity, the former is much more difficult for the retail investors to understand. Not just investors, even mutual fund agents may not correctly understand all the risks related to debt funds. Let [...]
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  • The Common Investor Dilemma – should I exit NOW as the markets turn?

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    Click to Enlarge Rising crude oil prices, weak rupee, political uncertainty ahead of state and central elections, etc., all have spoilt the stock market party. But is there anything new in this? Markets have gone down earlier because of such macro-economic and geo-political factors. Yet, panic, anxiety, confusion – any emotion related to fear is common amongst investors. They always face the common dilemma of whether to sell or not. This indecisiveness amongst investors stems from the fact that they have not addressed the most fundamental question before investing - the ‘WHY’ question. The ‘WHY’ defines the purpose behind anything [...]
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  • Why you should not let your Parents influence your Financial Decisions

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    Click to Enlarge Your parents are your well-wishers, no doubt. It is natural to take their advice at face value because you think they are experienced and cannot go wrong. While they don a lot of hats for you – parent, friend, teacher, etc., do not let them be your financial advisor. Chances are their views on money, career, housing will not be applicable to your life now. Although they would be wise in advocating the basic tenets of financial discipline – regular saving and investing, not all financial advice offered by them would be worth heeding. There are high [...]
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