In the last article, (All about housing loan tax benefits) I have explained the various income tax benefits that a home loan comes with. This article is a part 2 of the series where I will explain as to how one can increase the quantum of income tax benefits by taking a joint home loan and the various advantages and disadvantages of taking joint home loan. Read More…
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Today I will discuss about housing loan tax benefits. Buying own house is one of the most important goal in everyone’s life. Looking at the rising property prices some purchase it as investment and many wants to avoid the stay on rent and thus wants to have own accommodation. The increase in housing prices has in turn lead to increase in demand of housing loan as very few can afford to buy property on cash/lump sum. Along with the comfort of paying back loan in installments housing loan comes with lot many tax benefits. Many investors who even can afford to pay in lump sum prefer going through housing loan route as the tax benefits reduces the net outflow of interest. Read More…
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From estate planning perspective, What is more important to have in accounts and investments – Joint holder or nominee? This question was asked by Mr Saksham through mail referring to my article on nomination. He specifically singled out point no. 2 at the end of my article where I wrote,
“If you want to further reduce the hassles of the family members, than rather appointing nominee make them joint account holder and keep the mode of operation as “Anyone or survivor” or “ Former or survivor”. Don’t forget to mention the same in your WILL too.” Read More…Google+
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Hybrid funds as the name suggests are those mutual funds which invest in more than one asset class and thus provide a balance between risk and return. We all know that Asset allocation and diversification are the most important elements of any investment planning; these hybrid funds provide us with best of both worlds. Read More…
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Last few days of steep fall in gold prices remind me of equity market fall of 2008. As at that point in time everyone was so bullish on equity markets with the reason that India has a huge growth potential , it’s a booming emerging economy and what not. But that was actually true, so what went wrong? Happenings in international market, right? Same was the version of people who justified their heavy investment in gold by saying that this is the safest asset class, hedge against inflation and moreover when economies are in doldrums and stock markets don’t perform than gold is the only investment that pays you well, which is again true. So what went wrong here? Read More…
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Financial Planning always fails. Financial planning never pays. Financial planning is a useless activity….and so many statements like this usually comes from some of the stressed lot whenever I address a group of persons. They have their own views like how can you plan for a future which is uncertain, all insurance companies are “chor”, Equity investment is gambling, Real estate and gold are the best and safe investments, all advisers are there to missell etc. When I go deeper and discuss their issues with them I always found that many of these were going through some sort of financial stress or have been through a bad financial experience which is because of their own financial mismanagement. Read More…
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ICICI bank I wish is a very interesting recurring deposit product of ICICI bank available for its saving bank account customers who use internet banking. The interesting part of this product is you can create and manage your short and long term goals (in terms of money you want to accumulate) with these savings and also can share it with your friends and family on Facebook. By sharing it with others you can also ask for their contribution in this deposit to help you achieve your goal or fulfil your wish faster. Read More…
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How much health insurance cover should I buy? What is the adequate health insurance cover one should have? Should I go with individual policy or family floater? Do I need to top it up with personal accident policy and critical illness plan also or just buying higher sum assured in mediclaim would be enough. All this and many more questions naturally come up in mind of person who gets convinced to buy health insurance policy. Read More…
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This post carries some highlights on the basic features of PPF (Public provident fund). Though I have already covered details on PPF in my earlier article, but still looking from the comments section I found that many things are still not clear among the investors. (Read : All you wanted to know about PPF). So the idea of writing this post is to stress on the important points which you want to understand. But if you want to understand PPF in detail, you have to visit the previous article only. Read More…
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Monthly Income Plans (MIPs) are meant to provide monthly income to the investor through regular dividends but you can also create a stream of income through Systematic withdrawal plan (SWPs). Dividends results in reduction of NAV and are subjected to Dividend distribution tax on the other side SWP leads to reduction of unit capital of investment as withdrawal happens from the existing units only. Now the question is which works better in Monthly Income Plans – Dividend payout or SWP. Read More…
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