'Go for a base cover of Rs 10 lakh and then buy a super top-up of Rs 90 lakh.'
'The rise in SIP contributions has created a pool of long-term MF assets that can be pledged for loans.'
Buying makes sense for those planning to stay in a city for at least 7 to 10 years. Financial preparedness is crucial.
Review your family emergency fund and replenish it if needed. Revisit financial goals to see if there is any change in timeline or the corpus required.
Market downturns or regulatory shifts can reduce liquidity, making it harder to buy or sell assets when needed.
'Understand your financial goals. Next, categorise them by size. Then evaluate your investment options.'
A home insurance policy covers damage from earthquakes, fires, explosions, floods, landslides, cyclones, storms, aircraft damage, and acts of terrorism.
Stopping SIPs during a downturn undermines the benefit of rupee-cost averaging.
'Buyers should be provided either a fixed possession date or a firm date for the start of construction.'
Total market funds are ideal for long-term investors who prefer a simple, hands-off approach, making them suitable for those unwilling to manage multiple funds.
Younger investors with long investment horizons may continue their SIPs.
ELSS investments require a long-term commitment of at least seven years.
'Once filed, it cannot be revised or rectified.'
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
The ideal time to invest in sector funds, is during a downturn so that investors can capitalise on a turnaround in 1.5 to 2 years.
Novice investors must understand that volatility is an inherent part of equity markets and learn to navigate through such phases.
Purchase health insurance early while you are disease-free. 'It might become very difficult to get a comprehensive health cover for someone who has already had cancer.'
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