EPF Withdrawal- Post Retirement-What you need to do

EPF Withdrawal Form

Earlier, Form 31, Form 19, and Form 10C were used for online PF withdrawal. Recently, all these three forms have been replaced by a Single Page Composite Claim Form. You can self-attest this form for processing.

What are the factors that influence an investors goal

Risk appetite refers to how comfortable an investor would be when the value of his investment decline significantly. Higher risk investments also have the potential for higher returns, while lower risk investments are more conservative and usually have lower returns. An investor with a higher risk tolerance is willing to take the chance of losing money for the possibility of a superior return on investment.

Common Investor Biases

The concept of behavioural finance helps us recognize our natural biases that lead us to making illogical and often irrational decisions when it comes to investments and finances. A prime example of this is the concept of prospect theory, which is the idea that as humans, our emotional response to perceived losses is different than to that of perceived gains. According to prospect theory, losses for an investor feel twice as painful as gains feel good. Some investors worry more about the marginal percentage change in their wealth than they do about the amount of their wealth. This thought process is backwards and can cause investors to fixate on the wrong issues.  

How do I know if i have made a Comprehensive Will

Beneficiaries – Does your will mention all the beneficiaries of your estate? You have to clearly write down who will inherit the assets you leave behind and their personal information such as name, age, address and phone number so that there is no ambiguity.
Guardians – If you have dependents, it is important to write down who will their guardians be when you are not around. Minor children cannot get involved in business transactions. The guardian can act as the caretaker for the assets till your children become adults. You have to think carefully before selecting a guardian and take a decision in the best interests of your dependents. It is better to list down at least two guardians.

The Automatic Millionaire – Book Review

We should learn to budget. In the budget, we should first allocate a sum to ourselves and invest this amount. It need not be a big sum. He says “The first hour of every day that you work should be going to you.” Calculate your pay for one hour per day and keep that money aside for yourself to invest. This way, you do not require a huge amount of money. Additionally, as your income grows, you will pay yourself more which means you will invest more.