How can I build a solid financial foundation that allows me to achieve my long-term goals?

Establishing a robust financial foundation for long-term goal achievement starts by creating a comprehensive budget, tracking both income and expenses. This helps in understanding spending habits, allowing for the allocation of ...

What is the best health insurance for parents in India with a lower waiting period?

Health insurance becomes increasingly important due to the higher likelihood of health issues and medical expenses. To get proper treatment without burning a hole in your savings, a comprehensive policy...

Should I choose one among EPF and NPS or both?

EPF is automatic in some cases, meaning you will be mandatorily required to contribute to the scheme. This can be the case if you are employed in a private company or PSUs. Regardless of this, you can subscribe to NPS. EPF and NPS are both regulated by the Government but..

How risky is trading in the stock market?

Firstly, assess your risk profile. If you have a patient temperament and aim for steady, long-term growth, investing may align well with your preferences. Investors typically avoid substantial risks and are comfortable with the idea of gradual wealth...

How risky is trading in the stock market?

Firstly, assess your risk profile. If you have a patient temperament and aim for steady, long-term growth, investing may align well with your preferences. Investors typically avoid substantial risks and are comfortable with the idea of gradual wealth...

What are the pros and cons of investing in mutual funds v/s stocks?

The choice between mutual fund and stocks depends on your unique circumstances, risk profile, and financial goal. Direct equity investing is suitable for those who have the knowledge, experience, and discipline to select and manage individual stocks...

How do I find a good financial planner?

Selecting a good financial planner involves careful consideration to ensure quality guidance and optimal financial decisions...

Can I claim 80CCD (1B) if I have already maxed 1.5 lakhs under Section 80C?

Yes, you can claim a deduction under Section 80CCD(1B) even if you have already claimed the maximum limit of Rs 1.5 lakhs under Section 80C. These deductions are only available under the old tax regime. Section 80CCD(1B) allows an additional...

What methods can I use to save consistently?

Saving consistently is a good financial habit that can help you build a financial cushion and achieve your financial goals. Here are some methods you can use to save consistently...

What are the ways to invest for my child’s future?

Planning child education expenses beforehand could help you avoid financial burdens and substantial debt obligations. Before we go into the investment vehicles/options, you should be wary of buying expensive and low-yielding insurance vehicles...

How can you plan for retirement, considering the possibility of supporting financially unstable parents?

What kind of financial instability are we talking about? Conduct a thorough evaluation of your parents' financial health, encompassing income, expenditures, assets, and liabilities. This analysis forms the basis for understanding the level of financial assistance they...

Do you have to be rich to have a financial advisor?

No, you don't have to be rich to have a financial advisor. In fact, seeking financial advice can be beneficial for individuals across various income levels. The key is to find a financial advisor who provides independent and conflict-free advice. While some financial advisors may cater...

When should I buy term insurance?

When is the ideal time to make sure your dependents are well-off even without you around? Right now would be the time! Life insurance is not an investment but a protection net covering your family in case of...

How should I invest 5K every month?

You should invest 5K every month as per your objectives or financial goals. Your risk appetite for investment should also be considered along with that...

Is it okay if I invest 10k from my 30k salary in mutual funds?

It's great that you're already saving more than 20% of your salary. Investing 10K from your 30K salary in mutual funds is a good step, but it's important to align your investment with your goals and risk tolerance. If this investment rate helps...

What are the best ways to limit my capital gains tax?

Here are some general strategies that individuals might consider to manage capital gains tax:

Hold Investments for the Long Term: Long-term capital gains on certain investments, such as equity shares...

I am 24. Which mutual funds should I invest in?

To select the most suitable mutual fund schemes for your Systematic Investment Plan (SIP), it's essential to consider several key factors. Begin by clearly defining your financial objectives, whether they involve saving for retirement, funding education, or making significant purchases...

What are the components of planning my child’s education?

Planning your child's education involves several key components to ensure a secure financial future...

Can I extend my NPS after retirement?

Yes, you can extend your NPS (National Pension System) after retirement. The NPS allows individuals to remain in the system until the age of 75, and during this period, you can also continue to avail tax benefits. Ensure that the request for continuation is initiated at least...