Why should you start retirement planning early

We all earn and save to have a bright future, but we never think of saving exclusively for our retirement! Is retirement not our future? As per a report, 58 % of Indians do not know what their retirement income would look like. One of the reasons cited for disinclination is a lack of understanding of long-term financial planning.

Our current post will dwell into why retirement planning is important and starting early is crucial! Let’s dive in –

Is gold a sensible or a sentimental investment ?

There are 2 primary reasons why you need to invest in gold. Investing money in gold is worth because it is the best hedge against inflation. Over a period of time, the return on gold investment is in line with the rate of inflation. It is worth investing in gold for a one more very valid reason.

How much Insurance a person needs- Insurance Evaluation methods

Insurance protects a person and his/her family from financial difficulties. However, in most cases, people find it difficult to estimate the correct value of insurance they need.

There are several simple methods available to broadly estimate one’s life insurance needs.

Lease Vs Purchase – option offered by corporates

Of late, many companies have been offering a lease option to employees as a perquisite. This is advantageous to the employee since it offers tax benefits to them. However, often, when they are in the highest tax slab, there are doubts as to whether this is a better option than a loan. We have analysed this  by assuming three scenarios

How much insurance does a non-working spouse need?

There was a family of four. Anand, a small businessman, his wife Asha and two kids Nitu and Vishal. Anand was 39 years old. He lived a good life. He ran a small business that provided him with a very good income and allowed him to devote reasonable time with his family. Then, tragedy struck. Asha’s life was taken away by a drunk driver. Anand’s life and the lives of his children were turned upside down. Anand had to deal with the loss of his bride of 15 years; the one person that meant more to him than anyone else in the world. His children had to deal with the loss of their mother.

Financial Health Check with Personal Financial Ratios

While we continuously postpone the task of making investments or following financial discipline to another day, there are some simple tools in personal finance that can serve as benchmarks to help us gauge our financial situation. Just as we evaluate a company’s balance sheet with Financial Ratios, our Personal Finances also can be assessed with the help of a few simple ratios. The task, though, is much simpler compared to analyzing Balance sheet of a company.

Term Plan with benefits- should one consider it?

Term insurance plan is a type of life cover

• It provides coverage for a defined period of time, and if the insured expires during the term of the policy then death benefit is payable to nominee.

• Term plans are specifically designed to secure the family needs of a person in case of death or uncertainty.

• It provides specific amount of coverage for specific period of time