I think that finally the country has woken up to the need for financial planning and investing. They have realized the importance of achieving financial independence in their lives. The financial freedom movement has finally started and I think it’s just the beginning. Financial literacy among the citizens of the country is dismally low. This … Read more
Has your mom already reached her retirement age or is there still some time left? If her retirement is at least 7–10 years away then I would advise investing the money into an equity fund. ELSS funds are best for this purpose. They provide the double benefit of equity returns as well as tax savings … Read more
Retirement planning is a long term game. If planned properly it can lead to a very peaceful and enjoyable retired life. But it’s also one of the most overlooked things. Many people consider retirement planning as a secondary goal and postpone it for later. Suddenly when they cross 50, they wake up but by then … Read more
That’s a good question. I am happy to see that you are doing proper research before investing in a product. The mutual fund industry in India is growing by leaps and bounds. There are currently over 500 mutual funds in the market. And that number is growing at a fast pace. Hence for a retail … Read more
It’s great to hear that you are planning to invest for your future. Congrats, you have already started on your journey to financial freedom. While there are many products that you can invest in, not all are advisable. It’s not a one size fits all situation. Whatever product suits your friend may not suit you. … Read more
There are many but below are some of them: It helps to build your net worth (Net worth is your total assets minus the total liabilities) It helps you to become financially independent. Else throughout your life, you will be dependent on your job and other for your financial security It helps to make your … Read more
In cases where the mutual fund broker such as Groww, Paytm, etc. shuts down your account will still be active with the corresponding mutual fund house. So you can directly reach out to them to inquire about the current status of your investments with them. Also as a tip, I would always advise anyone who … Read more
Below are some of the things that should be kept in mind while investing in P2P loans: Always invest via the auto-invest approach In the auto-invest option, choose a mixture of different risk categories and allocate maximum amounts that you want to invest in each Invest small amounts such as 500 or 1000 max into … Read more
You should keep the below points in mind before investing in an ELSS fund: Most ELSS funds have a lock-in period of 3 years. That means once you invest in it, you will not be able to withdraw your money before 3 years. This is good in a way as it helps to inculcate investing … Read more
You should diversify the investment across multiple asset classes. Now, where you should invest the money depends on a lot of factors including your age and risk appetite. I am assuming that you belong to the youth category. Usually, young earners are advised to invest the majority of their money into equity. Equity by nature … Read more