Retirement is a crucial period in one’s life, and it is important for individuals, whether they are self-employed or salaried employees, to prioritise financial security in their golden years. Many financial experts emphasize the importance of tax saving in financial planning for individuals of all income levels, including senior citizens. It is essential to consider … Read more
Awareness regarding retirement planning is on the rise in urban India as more individuals are recognizing the importance of starting early. For those seeking to maximise their returns, transferring funds from an Employee Provident Fund (EPF) account to a National Pension System (NPS) account could prove to be a game-changing decision. While transferring funds from … Read more
Budget expectations: The upcoming Union Budget for 2025, scheduled to be announced on February 1, is anticipated to bring forth reforms to bolster the expansion and reach of the insurance industry in India. Given the sector’s upward trajectory in recent times, industry experts are optimistic about initiatives that could promote financial inclusivity and stability. Insurers … Read more
My father, aged 51, currently has no investments. He owns two properties and has one ongoing loan of Rs 20 lakhs. He has his money saved in the Provident Fund. His annual income is Rs 10 lakhs. Recently, a bank representative proposed a scheme whereby he would need to invest Rs 2 lakhs per year … Read more
EPF account: Understanding the tax regulations concerning the Employees’ Provident Fund (EPF) can be challenging due to their complexity. It is crucial to have a grasp of these rules to effectively manage your savings and retirement planning. It is important to comprehend the tax implications of EPF withdrawals to prevent any unforeseen tax liabilities. Withdrawals … Read more
In our traditional society, 60 years used to be considered the standard retirement age. However, in recent times, an increasing number of individuals are challenging this age limit by opting for early retirement. Many experts advocate for the pursuit of financial independence, known as FIRE (Financial Independence, Retire Early), with the goal of retiring much … Read more
I am 58 years old and I work with a private firm in Bangalore. I have invested in equities and equity mutual funds earlier. But now my wife wants us to save a part of our savings with fixed-income and non-risk funds for our retirement. My wife is a housewife and our daughter is in … Read more
NPS Vatsalya vs mutual funds: The NPS Vatsalya scheme was floated earlier this week, which is one-of-a-kind scheme where parents can start saving for their minor children much before they enter into their adult life. The NPS Vatsalya is a long-term pension scheme proposed during the full Union Budget 2024, following the third-term victory of the … Read more
Mutual fund investment: Since the introduction of NPS Vatsalya, many have been speaking about long-term investment plans, which extends for decades and can offer a multicrore asset on maturity. NPS Vatsalya, which is similar to the National Pension System, and equity MFs, or children mutual funds, are important tools for long-term wealth creation. Choosing the most … Read more
Mutual Funds and small SIPs: Investing in mutual funds is often viewed as a more secure option compared to the stock market due to its diversified nature and professional management. Systematic Investment Plans (SIPs) serve as popular investment tools within the realm of mutual funds, aiding individuals in attaining financial objectives at various junctures of their … Read more