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Source: Live Mint Most of us have a dream trip in our minds. We cut out pictures of places from travel magazines, add them to our Pinterest boards or make a good old bucket list. But life gets in the way. Sometimes our work commitments don’t allow us to take long leave, travelling with young…
Source: Live Mint Long queues, time-consuming documentation, rejections in requests, and constant delays, these are typically the images that come to mind when one considers taking advantage of your Employees’ Provident Fund (EPFO) corpus in India. All of this could be a thing of the past soon. Union Labour Minister Mansukh Mandaviya made the announcement…
Source: Live Mint Over the past four decades, private employers have dumped pensions and replaced them with 401(k) savings plans. The result is that millions of Americans are their own pension plan managers, and they get jittery when stocks and bonds tumble. Markets aren’t the only wild card. Seniors know there is a good chance…
Source: Live Mint FIRE (financial independence, retire early) has engulfed social media platforms. Individuals as young as 30 now want to retire by 40. Retiring at 40 implies that one’s standard of living will not increase post-retirement and that their investments will suffice for all emergencies and expenses for the next 40 to 50 years….
Source: Live Mint India’s population today has surpassed 1.4 billion (World Bank, 2023). While a significant portion of the population remains young, with those aged 15-29 comprising around 27% (UNFPA, 2023), the number of senior citizens has also surged to more than 10% of the population, or roughly 140 million people (Ministry of Statistics, 2023)….
Source: Live Mint In India, healthy life expectancy at birth improved by 4.02 years from 54.1 years in 2000 to 58.1 years in 2021, according to statistics from the World Health Organisation (WHO). As average lifespans grow longer, securing a financially sound future for yourself in the golden years is of utmost importance so you…
Source: Live Mint Effective financial planning includes defining financial goals and drafting out an investment plan to meet these goals. This is essential for achieving financial stability and building a strong foundation that lets you work towards meeting your financial commitments, both long term and short term. In Episode 5 of Let’s Mint Money, presented…
Source: Live Mint Some people like to keep the money in their Employees’ Provident Fund untouched even after retiring to let it continue to accrue interest. However, certain rules come into play with this, involving taxes, the interest accrual period, and the duration for which the funds can remain unclaimed. Here’s how it all works….
Source: Live Mint I resigned in August 2024 and received leave encashment as part of my final settlement. While making the payment, the employer deducted tax on the full amount of leave encashment, contending that I had resigned and not retired. Is my employer right to deduct tax on leave encashment, as I understand this…
Source: Live Mint A recent government notification, however, stumped him. The government said it would stop paying interest on NSS accounts from October 1. For the period from 1 March 2003 to 30 September 2024, the NSS interest rate was 7.5% per annum. The government’s decision left Shah and other investors in the small savings…
