Insurance | wealthymatters

Planning to Retire This Year? Here is How You Should Prepare for the Next Tax Season

January 29, 2018 Leave a comment

wealthymatters It is crucial to invest your retirement corpus diligently. Before you make your investment decisions, evaluating and analyzing different options is beneficial. You do not want to speculate your retirement corpus. You may prefer earning slightly lower returns for the security of your funds.

Your primary objective is to generate fixed income through your limited savings. The first step is to collect all your funds from instruments, such as gratuity, Public Provident Fund (PPF), savings bank accounts, equities, fixed deposits (FDs), and insurance. Read more of this post

Filed under Tool Kit Tagged with best tax-saving options, capital safety, DDT, dividend distribution tax, EEE - excempt excempt excempt investment, ELSS, equities, equity-based balanced mutual funds, Equity-Linked Saving Schemes, Fixed Deposits, gratuity, how to invest your retirement corpus, Inflation, Insurance, life expectancy, MF-MIP, monthly post retirement expenses, mutual fund MIP, Mutual Funds, POMIS, Post Office Monthly Income Schemes, postaday, PPF, Public Providend Fund, retirement investment options, savings account, savings bank account, SCSS, Senior Citizen Savings Scheme, tax free retirement investment options, tax saving mutual funds

Buying Life Insurance – A Balancing Act

July 25, 2016 Leave a comment

wealthymatters The conventional financial wisdom is that people best serve themselves by purchasing an online term insurance plan and investing the rest of the premium in diversified equity mutual funds. I have a slightly different take on the matter. Let me explain. Many readers have remarked on the difference between my stand and that of other experts.

If you are young, just started working, have little savings, come from a family with little savings, are the sole or main bread-winner of the family and have many dependents, an inexpensive term insurance plan is your best bet. Even as you work towards building wealth, you don’t put your loved ones at the risk of destitution, should something happen to you.

Also if you are older but have to provide for home and children and perhaps have mortgage and car loans etc. outstanding, you’d do well to increase insurance cover via a term plan for the duration of these loans to ensure that in your absence unpaid loans don’t add to your family’s miseries. Read more of this post

Filed under Paper Assets Tagged with #MaxLifeTermPlan, Insurance, insurance policy, life insurance, online term insurance, postaday, term insurance, whole of life insurance policy

Three Stories on Why You Need a Plan #KhudKoKarBuland

February 25, 2016 Leave a comment

Here is the story of 3 wealthymatters readers. Real names are not revealed to respect their privacy.

The first is the case of a young man in IT. His goal was to be “financially free” ASAP. His strategy was to get himself sent over to Europe by his company and leverage his increased salary to book 2 houses in India and pay EMIs on them. Unfortunately his company fell on hard times and his Europe sojourn was cut short. In fact even his old job back in India was in danger. And neither property had appreciated much in the interval.

The second is that of a young man who made a good diving as an engineer working in oil rigs round the world. Money came easily along with a sense of adventure. He believed in living it up while he was still young.He thought retirement was far away. Unfortunately he met with a accident and had to spend much time in hospital. He never fully recovered and is having to try and set himself up in another career. Read more of this post

Filed under Tidbits Tagged with be prepared, financial plan, have a plan, Insurance, postaday, savings

Jugaad And Wealth

January 19, 2016 Leave a comment

This ad from Exide Life got me thinking about Jugaad.

https://www.youtube.com/watch?v=93rmPxakndY

When you’re just starting out with next to nothing in hand, there is nothing like jugaad to take you ahead in the money game. With a bit of jugaad you can stretch the money you have to do more,save money to put together capital and use whatever resources you have at hand or lay hands on to get started on doing what you wish to be doing to start making money. Its sort of like Jugaadulal wearing his helmet to cut onions comfortably. Its pretty sensible, if soaking onions in water before cutting them doesn’t work. Read more of this post

Filed under Theory Tagged with #NoMoreShortCuts, Insurance, jugaad wealth, life insurance, postaday, ULIP, wealth pyramid

Why Does An Online Term Insurance Plan Premium Differ Between Companies?

December 22, 2015 Leave a comment

wealthymatters With an ever increasing awareness about term insurance policies, there is a lot for a person to choose and gain from.Insurance companies are making it much easier for people to purchase term policies. One such initiative is online term insurance that allows you to seek life cover from the comfort of home, a fuss free way to buy insurance!

Statistically, one online term plan is bought every five minutes in India. The number of customers buying online term policies have risen from 500 to 15000 per month. However, there is still great concern among buyers as to why the premium of online term insurance plans differ from one company to another. Here are the reasons: Read more of this post