Talking to people around on budget this time; most of them are unhappy, as budget has not kept pace with the expectations, like for a salaried (US), no announcements on tax slabs, or tax exemptions 😉.
But for a budget, with elections just around the corner, our dear finance minister has maintained a fine balance on populist measures, economic growth & stability.
Let me highlight, key takeaways from the budget:
We have always seen our mothers on the front-foot, towards managing the house, family, husband, kids, or virtually everything in the house. Also referred as a “Tiger-mom” towards handling kid’s education, other activities, with a selfless motive, to ensure that kids just excel. And the story continues,with our dear spouse as well (wife). 😉
But when it comes to finance or investments, they just give it up, either it’s the father, or the dear husband, who becomes the driver on managing investments.
But I still recall, whenever one need handy cash or some contingency funds, pop comes the money, mostly as cash or some unknown Bank FD/ deposit.
With market at an all-time high, we been getting queries in all possible formats from our customers, on what do I do with my SIP (systematic investment plans) in Mutual Funds?
My suggestion; find your own reason on what you want to do with your SIP. But strictly, do-not get swayed by the market jump or the recent surge, or even a dip in the future(which can also happen). As per studies conducted on the human behaviour, most of the time we react or make panic decisions based on the external factors,and miss out on the larger picture, or the long-term benefits.
Article published in Mumbai Mirror (Times of India) on 5th Jan 2018. Link: https://mumbaimirror.
“Spend less, save more” is a great resolution, but how do you actually achieve it? An expert offers advice.
The definition of insanity is doing the same thing over and over again and expecting a different result. Yet, when it comes to finance, that’s exactly what most of us do. If you’re determined to make this the year when things finally start to go your way, all it requires is some sensible shifting — which means, move out of wrong loans, investments, expenses and move into the right ones. Here are a few suggestions on how to achieve this.
I will lose Weight,quit Drinking, get a new Job, plan exotic Vacation, read Books, spend less time on Facebook, run Marathon, do Charity… and the list goes on 😉
Let me introduce you to one more resolution, i.e. “Financial Reboot”.
Just imagine, you have a button on your computer– “Reboot Finances”, by clicking it, you have the answers to all your financial worries… RESET.
Sounds great! Now you must be wondering, how?
My clear answer is a big NO, i.e. one cannot trust a Robo-advisor.
Robo-advisors are nothing but computer programmes or algorithms, which will first take inputs from you in the form of “sets of questions & filters”, and accordingly will populate various scenarios or “desired results”, as defined by the platform provider.
Now the question is, who are these platform providers, their credibility, what logic have they applied towards the programs? etc. No company will share their logic or how they have populated the results, but will have only “tall claims”, that they are the “best & trust-worthy”. One platform provider went to an extent to claim that, they have a “Nobel awarded algorithm”.
I went to some of the know platform providers, comprising of fresh players & traditional players (banks & brokers), all offering or using the term “Robo” & “the best advice”.
Can NRI invest in Mutual Funds? & how?
How can NRI shortlist Mutual Funds?
Can NRI repatriate redemption?
What are the tax applicability for NRI?
Can NRI invest in Mutual Funds? & how?
Yes, NRI can invest in Mutual funds, except for NRI from USA/Canada (with conditions).Due to different regulatory requirements in USA/Canada, NRI can only invest in Mutual Funds which comply to USA/Canada regulations.
Account opening/ Documentation for an NRI: To invest in Mutual Funds, investor must first complete the KYC (know your client) documentation, as per SEBI guideline, which involves copy & details of; (more…)
“Tum Term Insurance Lena Bhul Gaye, Ab GharKa Kharcha Kaise Chalega”
Quote from one of the recent TV Ad campaign on “Term Insurance Cover”; a lady is seen cursing her dead husband, on not buying a “Term Insurance Policy”, even though they (both) had decided to start same.
We Indians (I’m also included), believe in the fact that “Accidents” or “Death” is a wrong word and one should not get involved with same, in any context. Therefore, buying a policy to cover only death, that too without money-back, makes no sense 😉
What are Dividend Plans in Mutual Funds?
Are Dividend Plans active due to rising market?
Who should opt for these plans? Does it help in Tax saving?
What are Dividend Plans in Mutual Funds?
The returns that an investor gets in a dividend plan, are of two types;
What are Child Plans?
Which Child Plan to Pick?
How is Sukanya Samriddhi Scheme?
What are Child Plans?
Child plans are predominantly covered by Insurance companies, where currently plans have a fixed premium, to be paid over a period and invested money/ returns paid back when the child enters a certain age (which is generally 16, 18 and/or 21). The main drawback of these type of plans: