Monday, March 2, 2015

Health insurance tax benefits get a BIG budget boost

There is no denying the importance of health insurance. As you are well aware that
a) the incidence of medical problems is rising, and
b) the cost of treating these medical problems is skyrocketing.

Given this scenario, if you are banking on your own funds to meet the cost of any medical exigencies, you are making a big... very big... mistake.

Friday, February 27, 2015

How to exchange damaged bank notes?

It always gives a bad feeling to carry a dirty or damaged currency note in our pockets. So we try to palm it off to an unsuspecting person or donate it to God.

Well, you don't need to take such dubious steps to get rid of your shabby or torn notes.

Specific guidelines laid down by RBI — i.e. Reserve Bank of India (Note Refund) Rules, 2009 — permit you to exchange them for a better one.

Wednesday, February 25, 2015

RGESS: You might still be a "new" equity investor. Check out.

The buoyant stock market since around one year and the huge expectation from the Modi Government, is again attracting many new retail investors towards equity.

However, given the risks involved with equity investment, it would be wise if these small first-time investors don't take direct exposure to stocks. Rather, they should make their equity investment through the mutual funds. This would not only let them enjoy the expertise of well-qualified and experienced fund managers but also diversify their investment.

Monday, February 23, 2015

Best Personal Finance Oscar winners are eternally the same

Year after year, the winners in various categories of our personal finances remain constant and consistent.

For many this predictability is so boring and monotonous. They want excitement. They want action. They want change.

But, for the smart investors, this very obviousness and unambiguity is an excellent virtue. It makes making money and becoming rich so simple and straightforward.

So without much further ado, let me "repeat" the list of those who are rated the best in each category.

Friday, February 20, 2015

Term Insurance policies turn complex, tricky and dangerous

As you know, Term Policies are the simplest, cheapest and the best form of insurance to take life cover.

Here, it is important to note that "cheapest" is not to be confused with "inferior". No, the low cost does not make the term plans inferior to other types of insurance policies, in any manner whatsoever.

In fact, term policies serve the primary purpose of an insurance plan i.e. to cover the risk to one's life. To this, if you add the feature called "investment", you get all other types of insurance policies such as endowment, moneyback, ULIPs, etc.

Wednesday, February 18, 2015

Your stocks safe and risk-free investments, in just two steps

Stocks are considered to be a high-risk investment.

Naturally, because by investing in equity, you are open to the risk of losing your entire capital.

But what if I tell you that
a) most people do not understand the "true nature" of the risk involved, and
b) more importantly, you can quite easily eliminate even this "inherent" risk in stocks.

Interested? So let's get cracking...

Monday, February 16, 2015

Growth or Dividend : Mutual fund option perfect for you?

Last week, in the post on 'New improved personal finance investments', I had made a mention of the various options under a mutual fund scheme. Since this is still a grey area for many investors, a detailed write-up on the same would be quite useful. 

Fact 1: A typical mutual fund scheme offers 3 variants viz.
- Dividend Payout
- Dividend Reinvestment
- Growth

Fact 2 : Most investors are not sure which variant to opt for.

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