I am 35, and recently started a new job with a monthly income of ₹1.5 lakh. I have no significant liabilities and can save 40% of my income. My investments include: ₹10 lakh in MFs (large- and mid-caps, and debt funds); ₹5 lakh in fixed deposit; and ₹3 lakh in PPF. I aim to accumulate … Read more
I am 40 years old, with two kids and a diverse investment portfolio. My assets include ₹52 lakh in EPF, ₹18 lakh in PPF, ₹2.85 crore in mutual funds, ₹80 lakh in equities, and ₹20 lakh in NPS. My monthly income is ₹3 lakh, with expenses of ₹1.5 lakh, and I invest ₹1 lakh monthly … Read more
How can I buy an insurance for my phone? What would be covered under phone insurance? —Name withheld on request. You can buy portable equipment insurance for your mobile phones, laptops or personal portable devices. Such insurance is generally an all-risk policy. It would cover any accidental damage to the device including breakage, short-circuit and … Read more
I work in the IT industry and have plans to retire in the next 10 years. I have already planned for my daughter’s education expenses and kept ₹50 lakh aside for this. At present, this amount looks good based on her education plans. I have invested in two properties that are valued at ₹1.2 crore … Read more
If you want to save a handsome corpus till your retirement, you can opt for the National Pension System (NPS). It not only assured to give corpus at the time of retirement, it helps in wealth creation by investing in equity. Within the NPS, subscribers can invest in two forms of accounts: Tier I and … Read more
If you are an EPF (Employees Provident Fund) subscriber and want to use one or more of the services given on the unified portal, then you need to visit the official website of Employees Provident Fund Organisation (EPFO) i.e., epfindia.gov.in. Navigating through the portal is quite straight-forward. Let us explain how this can be done. … Read more
Pandey, who retired more than two decades ago and now relies on his pension and mutual fund (MF) systematic withdrawal plans (SWPs), admits that he did not feel the need to commit to any serious investments for a long time after retirement. Retirement Using his retirement benefits, a significant contribution from his son who was … Read more
Most people fear the idea of estate planning or laugh it off thinking they are immortal. Estate planning is about ensuring your loved ones or a third party get access to your assets in a manner that you would want them to. Estate planning at its core is about putting arrangements in place for how … Read more
The active involvement of women in estate planning has always been a grey area. While traditional perceptions are changing, there is still a mind block in the way of giving women a bigger say in estate planning. Let us go back to what the Hindu Succession Act, 1956, says about the property rights of women? … Read more
Having been introduced on May 1, 2009 for all citizens of India; National Pension System (NPS) has recently completed 15 years of its existence. The Government of India introduced NPS from Jan 1, 2004 (except for armed forces) before rolling it for the general public five years later. The scheme is aimed at providing pension … Read more