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Investment

Also Diwali being a festival of lights and celebrations, Diwali also brings joyfulness in the form of bonuses.

You can use your Diwali bonus to invest in various options to protection of your short term, middle term or long-term interests depending upon how you are currently placed

Also, Diwali being a festival of lights and celebrations, Diwali also brings joyfulness in the form of bonuses. You can put this money into a different investment and earn impressive returns or you can use it to pay off your debt.

Here are few ways you can put your Diwali money to best use.

Buy Health Insurance

The treatment costs have been going up with time and it’s important to have sufficient health cover to meet this cost. If you have not taken a Health Insurance for self and family yet, it would be wise to use a portion of the surplus money to buy Health Insurance. Even if you are protected under corporate cover, a personal cover is required to get sufficient coverage.

Pay Off Debts

You could also use the money to clear off an outstanding loan amount. If you have debts with high-interest rate such as Credit Card debts and are unable to source funds to clear them off, put your bonus money to good use. Paying off your EMIs and clearing off your debt on time would help you save your interest outgo and keep your CIBIL Score strong.

Plan Your Retirement Fund

If your present income is sufficient to achieve all your requirements in the short- and medium-term, you can use the Diwali bonus to increase your quantity for retirement. Instruments such as Mutual Fund and PPF are ideal for building a retirement fund.

Invest in Mutual Funds/SIP

You can also gaze at creating more wealth by investing in diversified mutual fund portfolios or even SIPs (Systematic Investment Plan).SIPs can be invested as less as Rs 500/month and provide good returns in the medium term prospect of 3-5 years. Any less than that might be too early to expect an encouraging return from mutual funds, though it is dependent on the market condition at the time of investment.

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Most of the time people don’t stop & think about it.

Congrats If you thought about this questions,

Most of the time people don’t stop & think about it.

There is a general perception among people to consider insurance as an investment vehicle. People expect something in return for the premium that is paid to the insurance company. Be it life, health or accident insurance, we always tend to equate and measure this with other investment products. If you are rich – let’s say if you die tomorrow and your family doesn’t need to worry about money – don’t bothering thinking about insurance.

Primarily insurance is not for you,

It’s for your FAMILY, so its basically to take care of them in case you are not there to support them monetarily – income replacement. So let us if you are a sole earning member of the family and if you die, how do family sustain, hence insurance.

So insurance is not an investment,

Get that right now and for rest of your life, it can never be.
Insurance that comes with investment plans give a return in the range of 2%-6% – that’s pathetic saving bank return, FDs give you more but it doesn’t beat inflation all the time.

Once a Person took advice from Moneymindz on an insurance policy where he had paid Rs12, 000 for last 7 years (and continue for another 23yrs). if he dies any time (between 0–30yrs) his family would get Rs 10,00,000/-. Now his monthly expenses are anywhere in the region of 20,000/- meaning if he dies tomorrow his saving would help his family survive easily for another 50months/4yrs, but what after that? Nothing..? Remember his monthly expense of Rs20, 000 we have kept constant not changed, not taken into account inflation (regular increase in price). Add to that he has 2 kid of which 1 will go to school 2 years hence, so his expense would only increase from here on. Think about college expenses, you can’t do anything. Hence instead go for term policy of Rs1cr @ premium of 10,000. At least now he doesn’t need to worry too much.

If anybody sells your insurance because of superb returns, we suggest you immediately make 180 degree turns and run at fastest pace. It’s never possible to have a good return in a traditional insurance plan. Also if people try to sell you for tax purpose, term policy also provide a tax benefit.
If you want a proper advice and not get cheated in buying insurance?

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This World Tourism Day, whenever you travel, wherever you travel, remember to:
RESPECT NATURE,
RESPECT CULTURE,
RESPECT YOUR HOST.

Only one life that we all live for, travelling around this wonderful world is very interesting.When planning to visit cities across, firstly I am overwhelmed to plan out things to start and end off.

For example: How do I travel, Where do I live, What outfits are comfortable, so many.Also once selected the city I look for the best part to visit.To go ahead with my journey I would like to make my self-aware of three important things.

For example: How do I travel, Where do I live, What outfits are comfortable, so many.Also once selected the city I look for the best part to visit.

To go ahead with my journey I would like to make my self-aware of three important things, Such as:
1.A good job, with good saving.
2. Comfortable in Language.
3. The Culture/Tradition of place.

1.A good job, with good saving:

This is because it lets me gain my freedom of travel.It helps me out to be independent.The job that gives me satisfaction, is the one that is good for me.My hard work is the money I earn as my reward.To make this reward a memorable one.I got to invest in TRAVEL INSURANCE because I Love travelling.

2. Comfortable in Language:

Once I have decided on the place, I need to know at least the common language, or the basic local language, to survive and enjoy the journey.

Now, you might think why language is so very important, its because if you want to order some food, you want to ask someone for direction, Yes! The direction is provided by Google, but how far it helps you out. Travelling interaction makes the ride more fruitful.

3.The Culture/Tradition:

Getting along the way is not, knowing the culture and tradition of the place are important, to make you more comfortable in adjusting the surrounding. The way you dress would be judged by the society according to their culture.

Thus, the comfortable dress that you wear, would make you comfortable during the travel. Moreover, you can be polite to people around, the place during any kind of interaction.

COVERING THE BIG AND LITTLE THINGS IN TRAVEL INSURANCE:

8 Keys of Travel Insurance to know:

1. Overseas emergency medical assistance
2. Accommodation and travel expenses
3.Resumption of journey
4. Hospital cash allowance
5. Accidental death
6.Cancellation fees and lost deposits
7. Alternative transport
8. Personal liability

TRAVEL, ENJOY AND RESPECT.
Happy World Tourism Day!

 

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Most person do Investment, But what a majority of them hesitate at is investing.

What Loan?

There are good and bad loans. Good loans are used to build assets such as a house. Bad loans don’t create assets and are used to buy home theatre, PDA, etc. Debt service ratio (monthly loan payment as percentage of monthly take-home income) indicates your repayment ability without stretching your resources

Home loan:
can invest up to 40-45% of your income

Auto/personal loan: should not be more than 20-25% of income

Credit card repayment: no more than10-15% of income

Total debt servicing not more than 40-45% of pay

Also Read : Why To Avail Home Loan?

Retirement Planning Now?

Plans to holiday and travel after an active career needs to be well funded. Power of compounding helps you amass a huge retirement corpus; the earlier to start, the bigger it gets. A secure, comfortable retirement is every worker’s dream. And now because we’re living longer, healthier lives, we can expect to spend more time in retirement than our parents and grandparents did.

Achieving the dream of a secure, comfortable retirement is much easier when you plan your finances.

Also Read : Jump start for your retirement planning early.

Buying Stocks?

Stock are high-risk and high-return investment. There are options like IPOs (initial public offer), mutual funds and direct equity start safe with a mutual fund;

As a beginner you can start with a SIP (systematic investment plan) and then look at other investing options

Bonds and deposits are fixed return in nature, best avoidable for those under 30

SIPs into any well-performing fund scheme is a good way to safe and disciplined stock investing

Also Read :Is Mutual Fund Safe?

 

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The only insurance for the loving brother to gift her adorable sister.

Way back I was a young boy, Pursuing my last grade of college, where in, completed. Concentrating only on my upcoming exams, but always like none other friends in locality who were of good family and with good capital income. My parents never afforded me any kind of pocket money.

So, every RAKSHABANDHAN I used to gift my sister with just Rs.30 or Rs.50 that took me a long time to collect from my realtives or parents. I know, it wasn’t that enough for her, but she always welcomed my gift with a smile that was the greatest happiness. I ever got from her.

 Now since, I have completed my education and got a job to support my financial growth.

 I would, not like to gift, her with any amount, but rather make her confused by giving her an envelope. That consist of_____???

Guess What???

It’s, the “TRADITIONAL ENDOWNMENT POLICY”, for her future benefits, though if I am here or not with her. For the next “Rakshabandhan” Who knows what would happen? There are chances of I have no cash,or might be I am just jobless.

Go a way better, think a way smarter, In gifting your sister thus,the TRADITIONAL ENDOWNMENT POLICY benefits even after her brother’s not there.

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Let’s check out what you need to do to stay away from emotions while doing investments.

1. Do Your Independent Research Before Investment:

Knowing what you are buying is key to avoiding emotional set backs. Always do independent research before doing any investment, even if you are taking advice from financial advisors.

Always understand about your investment and how it will help you to achieve your goals and what risk is involved in that.

Without your own research you may not take full responsibility of your investment and end up involving negative emotions, which inspires you for making mistakes.

2. Set Financial Goals:

Diversification can help to control your emotion because it offers some downward protection. Diversification means having different asset class in investment portfolio. It includes investment class such as real estate, commodity to hedge against market uncertainly.

3. Set Financial Goals:

Setting financial goals is the first step to investing. Write down your long-term financial goals and how much volatility you can tolerate comfortably.

Stick to your financial goals, don’t allow short- term ups and downs in market to rash your investment decisions. Read your financial goals every time when emotions try to take over your mind.

Still if you feel that you can’t put your emotions aside to make an informed, objective decision, consider talking to a financial advisor or someone else you trust most. This doesn’t mean letting someone else manage your investments for you, although some people choose to do that. It just means that having someone to guide you someone who is not personally affected by how much money you make or lose.

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All of us make many mistakes when borrowing money, something like not estimating the financial repercussions, borrowing more than required, etc. Learn about such common mistakes people commit while borrowing money and avoid those to save both your time and money. Below, we compiled a few of them. Learn to take well-informed money decisions.

 💡  Neglecting The Research Part: 

People simply wish things get closed at the earliest, so they do not try to take more time on research. Just like you visit many stores before you buy something and look for the best one for the best rate, shop for loans too before applying. More the places you research, the better deal you would get. Make the best use of online surfing. If necessary, go visit local banks and seek details. Let things work on your own terms!

 💡  No Focus On Associated Extra Payments: 

People generally neglect the extra fees they end up paying for the amount they borrow. It is imperative to read all the documents carefully and negotiate wherever possible. Most importantly, ask as many questions as possible before finalizing the deal. Let the lender know your worries and thoughts. Be honest that helps you extract the best deal.

 💡  Getting Emotional or Considering It As Free Money: 

As the process gets finished, people turn emotional and many see it as a lottery win. But the reality is, nothing is free money! You have to pay it back to the lender sooner or later. Check how comfortable you would be in paying the EMIs before you borrow.

 💡  Borrowing More Than Needed: 

Least thing one can actually do is not to borrow more than the requirement. Borrow only if you really need it or if the loan adds value to you in the long run. Else, your re-payments get larger. Moreover smaller loans means more chances for loan approval. Why build unnecessary or unneeded stress in life by borrowing more than needed?

Finally, do not hurry to grab a loan or borrow. Go slow and follow a plan to be more focussed and to commit lesser mistakes. After all, you cannot mess with your hard-earned money. For more advice from experts on personal finance, approach Moneymindz.

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I met a successful businessman turning 87 ..and asked him what would he want to share with younger people…and he had this to say:

 💡 If you want to be in business, be ready for total failure:

He went into business at a relatively old age of 30 in a house where there was pressure to do business the day he passed out o school. He went to college, got a degree, and worked hard for 8 years before he started off on his own. His father supported him during his struggling years, but now he is extremely rich by most standards. His personal net worth should be in the region of Rs. 50 crores – apart from his residence, and personal assets. He did have failures, but his ability to face total failure held him in good stead.

 💡 Work hard, work smart:

He has working routines of 12-14 hours every day including Sundays. A complete workaholic he says typically ‘hard work will not kill anybody’. He handed over his business to his only son when the son was 30 years of age and did not interfere in the way the business should be run. Son got in partners, went global, diversified, and grew the business very well. Same culture is now being taught to the next generation – his grandson is now being trained in another friend’s company to take over the reins here at the age of 30.

 💡 You do not need Normal advisers, you need friendly Financial Advisers who will share and teach:

his association with his family doctor, CA, financial adviser all go back a few decades. He says he has never argued about fees, but has ensured that they have TAUGHT him what to do and how to do it. He now pays more for ‘supervision’ rather than ‘doing the work’. 

 💡 Have patience and stay in the game:

He resisted many attempts to diversify, but made sure that he added products/ services to improve the business of his clients and friends. Even now he has clients who have been with him for 10, 20, and even 38 years!! He says ‘relationships are difficult to forge’ – so sell more to existing people you know and dig deep.

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Investment planning is simpler than you think, and more rewarding than you would imagine.

Your age and investment size does not matter, nor do you have do be a money whiz  just do it NOW. So where do you start?

Identify your financial goals:

What are your goals? What are you saving for :

  • A house?
  • Child’s education/ marriage?
  • New car?
  • World tour?
  • Retirement?

Quantify this in terms of amount of money needed, and time horizons.

To understand the process of defining and quantifying your future goals, use our Retirement Planner . Even if you do not have retirement planning as one of your financial goals, this planning tool should help you understand the process of financial goal planning.

Understand your risk profile:

Depending on our income and needs, we all have different capacity for risk. We also have a different risk tolerance, based on our individual psychological make-up. Understand your risk profile and plan your portfolio accordingly.

Plan your asset allocation:

Returns should not be your primary objective, you could end up taking more risk than you are financially/ psychologically capable of. It helps seek expert advice and create a portfolio with the right spread across asset classes to minimise risk of incurring a loss.

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There are too many reasons why “investors” lose money in equities. Here I am trying to enumerate some of them. Keep visiting this post because as I get more points I will add them here rather than create a new post.

1. Confusing between trading and investing: Traders and investors both make money if done professionally. However most retail investors do not know whether they are traders, investors or speculators. So if they lose money in a trade they do make the same mistake again, and again. Professionals learn better than retail investors.

2. No asset allocation: Normally they have never enumerated all their assets and liabilities.

3. No portfolio construction knowledge: Just buying a few shares is not a portfolio. I recently came across a person (he considers himself successful as an investor) who had put all his equity portfolio (40% of his net-worth)  in  2 companies  (both of the same group).  I was aghast  at his portfolio, but  as he had made  a lot of money, he thinks it  is the best strategy.

4. Not doing enough research: In your whole life you need to pick and hold about 50-60 companies. However to reach this figure you may have to look at say 500-1000 companies. If you are assuming an investing life of 40 years, looking at 1-2 companies a month is not difficult. Most retail investors are too lazy to do it.

5. Watching TV: Watching television is not a bad idea. Problem is when you listen to the sound bytes, believing it and acting on it. Do not think of business channels as your “financial guru”. They are not. They are here for entertainment.

6. The money that an investor makes (or loses) is a function of market behaviour and investor behavior. Markets are far, far easier to predict. Investor behavior is impossible to predict. Most investors cannot put a rationale to their own action, once the action is over.

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