February 18, 2017

 

 

How To Start Investing With Mutual Funds:

Before a person start investing in a mutual fund, they may want to try beginning with a balanced fund. People will also want to ask questions: How are trying to fulfilling their wish with the savings they have? Do they have specific goals? Are they saving for retirement, or do they have some broadly defined set-up, such as the accumulation of wealth for the general purpose of strengthening their financial security? What is their probable time horizon or speculation? It must be either a year, five years or ten years which we call as short-term, medium-term and long-term.

Know Your Risk Tolerance:

Before choosing funds, the said person needs to have an Un-cluttering idea of how much risk they can tolerate. Their risk tolerance is a measure of how much fluctuation i.e.  Volatility – Vicissitudes or market risk they are able to handle. For example, if A, an investor gets highly anxious when his Rupees 50,000 account value falls by 15% (to Rupees 42,500) in a span of one-year, their risk tolerance is relatively low or in simpler words, they cannot tolerate high-risk investments.

Determine Your Asset Allocation:

Once they have built the ability to determine their level of risk tolerance, they can assess their asset allocation, which is the mix of investment assets—stocks, bonds and cash, which comprises their portfolio. The asset allocation when properly executed will reflect their level of risk tolerance, which can be described in three categories as 1) aggressive (people having high tolerance for risk), 2) moderate (having medium risk tolerance) and finally 3) conservative (person with low risk tolerance).

Moneymindz, the best free Financial Advisory Service will guide you through the best possible investment where risk tolerance will be mitigated due to hefty investment options.

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Home loans holders:

With the accessibility of home loans, investing in house property is a remarkable venture. If the property is self-occupied then the interest on home loan allowed:  with a deduction of up to two lakh. In cases, where an individual owns more than one house the interest is fully allowed if the property has been let out. However, in some cases it might result in a loss according to tax laws, under the head “Income from house property”. The loss could be set off fully against income under other heads – such as salary income, during that particular financial year. Now, there is a cap of two lakh for set off such loss from house property, against other heads of income. The unabsorbed loss carried forward and set off over a period of eight years, but such adjustment is possible only against income from house property. 

Professionals:

Social service oriented professionals such as Doctors or Advocates, or even those engaged in occupations, like Fitness Trainers or Beauticians, have the authority now to invest up to 20% of their gross total income in the National Pension Scheme (NPS). This would result in a tax deduction from their taxable income. However, here is the twist, which states that the overall limit of aggregate should be standing in investments worth 1.5 lakh.

National Pension Scheme (NPS):

Taxes attracted just by withdrawals from National Pension Scheme. Forty per cent of the total amount standing in a persons’ credit in the NPS is not taxable on closure or counting out of the scheme. From April 1, 2017, the employees’ contribution on partial withdrawal is tax- free up to 25%. While investments made by self-employed personalities in NPS provided with a fillip, the benefits on withdrawal are available only to the salaried. 

For more information and suggestions, contact the best financial free advisory service MoneyMindz.

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 Life insurance is essential and must be a portion of every individual’s financial planning but one needs to demystify various age-old myths to buy adequate life coverage. Have at the top 10 popular myths associated with life insurance.

Life Insurance Is For Older People:

Young adults live with the idea that they may require a life insurance policy in the middle age or after 40 only. The tragic fact of our life is death; it is the ultimate reality of life and can happen to anyone irrespective of age, caste, creed or gender. The earlier one gets a life insurance cover the better because it increases the overall protective range for the individual and becomes the candle in a dark tower.

I Am Single, So I Do Not Need Life Insurance:

A schoolchild or a graduate have no family or still dependant on their parents may not want to consider life insurance policy. Life insurance policies usually expire at the age of 60-65 years offering substantial returns to the insurer at their retirement period. For a large number of people, life begins at the age of 60 with increasing life expectancy. Investing in life insurance can mean an added financial cushion for retirement years, which saves from tax burden during the working years.

Life Insurance Is A Tax Saving Instrument:

Many people buy life insurance simply as a tax saving instrument. While it is true that life insurance offers tax benefits under section 80c of the Income Tax Act, the sole purpose of life insurance is to act as a shield and cover in case of peril. Tax incentives and investment returns provided by the policies of life insurance is considered as an additional benefit, while one should also consider the cover, returns and other factors attached with it.

Company’s Group Insurance Is Good Enough:

Many earning individuals do not look beyond the group insurance provided to them by their employer. Group insurance is good only as long as the individual is working with the company. In case of a change of job or a layoff notice, the individual is in destitute without any life insurance. Along with that, an earning individual plans to leave the job for new venture in his mid-age, so taking a life insurance in the 40’s can be quite expensive.

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KICK-START YOUR CAREER JUST BY AN ADVICE

 

Ranjan resides in the sleepy town of Bankura in where his father owned a large farmland in the 2014. His father’s premature death in early 2015 left the two children to lead different paths in their lives. They sold the land and divided the amount of Rs.4, 80, 000 equally among themselves. Ranjan, being the elder with a sister, was married for two years and had a year old son. On parting with his sister, he was tangled and devoid of any idea, he should choose for himself as all his life he had worked on the fields.

In early 2010, Ranjan’s father set up the company’s first plant there to manufacture tyres, rubber and wheels of a car. It was then called Torque of Eastern India Ltd. and were listed on the stock exchange soon after. Over the years, many residents of Bengal worked at the plant and several residents were shareholders of the company. Afterwards, Ranjan became Chairperson of the company.

As Ranjan sat near a tea-shop, a young stockbroker from Medinipur stopped to ask a question. That person had come to buy as many shares as he could on behalf of some clients. The person asked whether he knew anyone there who owns shares in that factory by pointing to the plant. Ranjan replied that the owners of the factory stay in Kolkata.

In short the person explained Ranjan, how owning a share could make one a part owner in the company. This made him curious and the interaction continued for 30 more minutes. Ranjan helped the person to go door to door to collect shares from willing sellers in very small town and bought 150 shares of Rs.200 face value, thus investing Rs.15, 000. The rest, he invested in starting a trading business.

       This was a small story as it transcended to something gigantic now with thousands of shares. The person at teashop was an advisor from MoneyMindz, the Free Financial Advisory Service In India. The company went onto become of the largest wheel manufacturer in the country.

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