Retirement is the phase of life when you start living for yourself after you are done with all your responsibilities. This is also that phase of one’s life where the income reduces and the expenses increase and the time when your savings will help you. We all know the importance of saving enough for our post-retirement years. However, many of us delay, sometimes till it is too late. Procrastination is a big reason for this, while some people delay saving […]
Annuity and lump sum required after retirement.
Pre and Post Retirement Investment Options.
There are quite a few options solely meant to take care of one’s post-retirement needs. Each of these products have their own unique features that one should be aware of. Some of the investment options – pre and post retirement options which may come handy are being discussed here. Pre-Retirement Investment Options New Pension Scheme (NPS) New Pension Scheme is a good retirement investment option. NPS is open to all but, is mandatory for all government employees. Features: An investor can […]
Building a retirement corpus
Everyone works hard and relentlessly with a dream of having to let go everything one day and retire peacefully. You achieve your goals, reach new highs every day, battle your competition, shoulder your responsibilities and walk down towards that elusive “retirement” day. What is also unavoidable is the reality that one day your monthly salary will stop. Therefore, one should start actively investing for retirement as soon as the first salary comes. The average earning years of a person is […]
The benefits of investing in equity to meet your retirement corpus
Planning for retirement is a must these days. Increased mortality rates can be tough due to changing inflation, life styles, and medical advancement. Investors need to decide on the right product while choosing the investments options for retirement. Let us look at two hypothetical situations. Money parked in fixed deposit : One retires with a Rs 1 crore corpus. The same is put in a bank fixed deposit. A year later, it will be worth Rs 1.07 crores. The actual […]
Buying a home is a big financial decision in an individual’s life, and many of us prefer to purchase a property which is under construction as the prices are lesser than ready-to-move-in houses. The cost-effectiveness makes an under construction property first choice for many, especially when the property is purchased as an investment. In order to unburden these homebuyers, the government offers lot of income tax benefits. These benefits vary according to the property type, nature of construction and home loan […]
Ways to access funds in recent times has improved dramatically, which increasesthe spending needs amongst us. These factors have enabled us to borrow at will and in this process we get stuck with the process of repaying it. In the recent times, the average level of household debt has increased unmatched with the rising income levels. The recent data of RBI shows that personal loans have increased from around 20% of total credit in 2010 to 21% in 2016 to […]
Things to consider before you borrow
Things to consider before you borrow The most important factor in deciding whether to borrow money is YOU. Is it a Need or greed? This refers to the intention for which you are applying for the loan. Loans are made available for genuine needs like marriage, hospitalization, education, relocation, repairs and renovations, building you own house or buying a new property. But if you wish to obtain the amount and invest it in stocks or commodities to generate higher returns […]
How much loan can I get on my salary?
Buying a home is one of the biggest purchases many of us make in our lifetime – and this inherently involves taking a big sum of housing loan to fund the home, which takes years to pay off! Hence proper planning for funding for house loan is very much important so that one is left with enough money for other goals too in life, such as retirement, education funds, vacations etc. How the bank calculates loan eligibility? Loan eligibility is […]
Types of tax benefits available for home loan purchase
A home is a ‘once-in-a-lifetime’ investment for many of us. It is natural that we want to make it as big and better as practically possible. But the shooting cost of property nowadays makes it difficult to acquire your desired property. No doubt, having the possibility of availing a home loan has improved affordability. It is difficult to buy a dream house entirely with our savings. Availing a home loan not only increases our affordability but also give us a […]
How does increase or decrease of interest rates on loans affect me
Owning a house is everybody’s dream. That is why buying a house always makes it way to one’s goals when we do financial planning. Buying a house has become a Herculean task these days owing to the mounting real-estate prices. A home loan is an easy way to fund your house purchase as it is not wise to burn your entire savings to buy a land or a house. Banks and other housing finance establishments offer different types of home […]