<p>Financial advisors often advise, “<em>save first, then spend.</em>” It helps the investors to set aside the savings before the same are exhausted with regular living expenses. It also comes in handy, especially for the investors who find it hard to plan for the future and instead insist on living for the present. </p>
<p>When it comes to <strong>financial planning</strong>, certainly there are many questions in the minds of investors. Some may want to know the future value on their consistent savings/investments; some may like to know the actual returns earned from their past savings/investments; some may like to know the investment required to reach a specific financial goals which is in their mind. One can make use of different financial calculators to plan their investments. </p>
With the evolution of the financial markets, investors today have a wide range of investment options to choose from. However, to make an informed investment decision, one must carefully evaluate the different options available out there. This article aims to discuss different broad categories of investments as below:
A father's role in his children's lives cannot be quantified, but it can only be expressed in emotions. A father makes several sacrifices for his children and family but seldom expects anything back. Beneath everyone’s success is a strong foundation of the dreams and aspirations of a father who believes in only taking care of his family and many times not even expressing their feelings and emotions to the family.
A Father-child relationship is one of the most beautiful relationships in the world. However, it is often felt that a father may not even express their emotions and feelings with their children yet silently work towards fulfilling all the dreams and aspirations of their child. Traditionally, financial matters often flow from top to bottom, with your Father taking care of your savings, etc., during the early stages of your lives.
<p>To simplify tax calculations and compliances, the government of India introduced an optional tax rate structure for individuals and HUFs from the financial year 2020-21 onwards. Even the old tax rate structure continues to be in place, and the taxpayers can choose the tax rate structure they want to adopt. </p>
Often ‘the more the merrier’, but sometimes ‘the lesser the better’. This holds true while investing in Mutual Funds too. Although Mutual Funds are popular for offering diversification, there is a type of scheme that adopts a focused and concentrated approach too.
Equity Linked Savings Schemes (ELSS) are a special category of equity mutual fund schemes that provide tax benefits to the investors and are commonly known as tax-saving mutual funds. As of 30 June 2021, such funds manage around Rs. 1.36 lakh crores of AUM (Assets Under Management). ELSS funds are reasonably popular amongst retail investors, with 1.28 crore investor folios in such schemes as on that date
Source: AMFI – Association of Mutual Funds in India
Independence Day opens up a flood of emotions in every Indian. While the Indian freedom struggle teaches patriotism, grit and sacrifice, you can also learn valuable investment lessons. Following are some valuable lessons that we Indians can learn from the country's freedom struggle and its leaders.
"Swaraj is my birth right, and I shall have it."
While the Covid 19 pandemic took the world by storm, one of the lessons of this crisis is the realization that we must all prepare for any such eventuality in the future. It is imperative to properly plan and manage one’s finances for building a financially secured future. Here is a beginner’s guide to financial planning in 2021 and for the future years:
