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Source: Live Mint Although Indians are increasingly adopting financial assets like stocks and mutual funds, they still have to go a long way in terms of prudent retirement planning, believes Sriram Iyer, the chief executive of HDFC Pension Management. Speaking at the 17th edition of Mint Annual BFSI Summit on Friday, he said that while…
Source: Live Mint Retirement is a phase we all face, especially for salaried professionals. It’s a period when regular income from work stops, but expenses—monthly bills, healthcare, and leisure—continue. The key to enjoying a financially secure retirement lies in the preparation you do during your working years. By saving and investing wisely, you can build…
Source: Live Mint The National Pension System (NPS) is a retirement savings scheme that is mandatory for government employees and optional for those in the private sector. It also offers tax benefits of up to ₹2 lakh under section 80CCD(1) and 80CCD (1B) of the Income Tax Act, 1961. One has to be a resident…
Source: Live Mint Happy New Year 2025: One of the top priorities for many people in 2025 is improving financial health. Here are some resolutions that you can’t afford to miss 1) Savings Set a monthly savings goal and try to stick to it. Define specific, measurable, achievable, relevant, and time-bound goals. Set up automatic…
Source: Live Mint How to become rich: Anyone can become rich; all it takes is knowing how to increase your wealth and be consistent. You can see your wealth increase over time by making wise investments, managing your money well, and consistently reinvesting your money. Developing wise financial practices as we move into 2025 might…
Source: Live Mint Retirement planning is essential for ensuring financial security in the future. Adopting a proactive, planned investment approach can significantly aid in developing a solid corpus. Industry experts suggest that a person can create a diversified, growth-oriented strategy by combining instruments like systematic investment plans (SIPs) with government-backed programs like the Employees’ Provident…
Source: Live Mint -Name withheld on request Firstly, it is great to hear that your cousin has successfully paid off their home loan at the age of 35 and has begun investing 30% ( ₹45,000 of ₹1,50,000) of his income towards their retirement goal. They are also utilizing the additional tax exemption under Section 80CCD…
Source: Live Mint Inflation has a direct effect on financial security. High inflation reduces purchasing power and damages long-term savings. Money saved for long-term objectives like retirement or education gradually loses value due to rising living expenses. What is inflation? Simply put, inflation is the gradual increase in everyday products and services costs. This implies…
Source: Live Mint The past few weeks have been tough for the Indian markets. While a 10% fall in indices isn’t unusual, the frequency of such falls has fallen significantly since the pandemic and as a result, new investors are learning lessons that old timers have known for years. With that, let’s come to the…
Source: Live Mint While NPS Tier-1 offers tax benefits but restricts withdrawals, Tier-2 offers flexible withdrawals without tax benefits. Mutual funds command an asset base of ₹67 trillion. The NPS Tier-1 account has an asset base of ₹2.28 trillion, excluding contributions by state and central government employees. Meanwhile, the NPS Tier-2 accounts for just ₹6,510…
