What is the difference between your needs and your goals? Why should one plan their investment according to goals?

Difference between your needs and goals

The needs refer to an individual’s basic requirements that must be fulfilled, in order to survive. By this, we mean those requirements which are extremely necessary for a human being to live a healthy life. They are personal, psychological, cultural, social, financial that are important for a person to survive.

In ancient times, the three basic needs of the man were food, clothing and shelter, but with the passage of time, education and healthcare also became integral, as they improve the quality of life. These are a person’s priority as these are the things that keep us healthy and safe. Therefore, if needs are not satisfied in time, it may result in illness, inability in functioning properly or even death.

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.

Summary – The Richest Man in Babylon.

The story is set in Babylon, which was once a city of wealth and splendour due to the hard work and wisdom of the people there. In the book, a wise, rich man from Babylon offers valuable advice on how to create and preserve wealth. Here is a summary of the lessons in the book –

To begin with, the seven rules of money to be practiced are listed. These comprise of steps without which one cannot generate wealth –

Save money. He says for every ten coins, you put in your purse, spend nine. This way you will accumulate money over a period of time.

Capital Gains on Sale of Property – Section 54EC benefit

Profits or gains arising from transfer of a capital asset are called “Capital Gains” and are charged to tax under the head “Capital Gains”. • There should be a Capital Asset • Capital Asset should be transferred during the previous year • Gains/Loss has to be computed • Tax has to be paid on such gains

Motor Insurance Options

It reduces liability – Taking Third Party Liability (TPL) car insurance covers one against the legal ramifications of an accident caused by one.

What is to be considered in Home Insurance

Property Insurance is a banking product, which allows the policy holder to secure their house and its contents against risks like fire, theft or earthquake.

There are two types of home insurance policies in India:

1) A basic fire protection policy and

2) A comprehensive policy called the household package policy.

Money Lessons for kids of all ages

Age 8-10
The most basic lesson about money is that you have to pay money to buy something. Nothing in life comes free. Though kids will understand it eventually as they grow older, it is important for them to grasp this concept at a very young age.
Teach them about the value of each note and coin by telling them the prices of everyday household things. For example, a toffee costs Rs. 1 but a larger chocolate costs Rs. 20. img width=”225″ height=”150″ src=”https://dilzer.net/wp-content/uploads/2019/04/Money-Lessonsfor-kids-cover-1.jpg”

I Used My Emergency Fund To Pay For My Hospitalization. How Do I Rebuild It?

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When Should I Dip Into My Emergency Fund?

It is a tough situation when you fall seriously ill; meet with an accident, or are diagnosed with a life-threatening disease. It is equally difficult when a family member or someone dependent on you suffers a similar fate. It is physically, mentally and emotionally difficult. It is also a big strain on the finances as there are hospitalization bills, medicines to buy, multiple trips to the hospital, specialist advice etc. There are pre and post hospitalization expenses as well. In some cases, you might have to take a break from work ((more than the allotted leaves), which can lead to a double whammy – increased expenses and loss of pay
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How do Financial Advisors Plan for Client Taxes

Financial Planners assist their clients in a wide variety of financial areas, including tax return preparation and tax planning. Many financial advisors are skilled in tax issues and provide comprehensive tax advice to their clients, including tax problem resolution, taxes planning and return filing, as well as preparing estate, gift and trust tax returns.