Rediff.com spoke to registered investment advisors to figure out how best the extra Rs 17,500 saved ever year can be invested to create a decent corpus in the years ahead. This is what they said.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
Once the child is 90 days old, parents must add her to the family health floater cover, suggests Sanjay Kumar Singh.
The choice should depend on the size of the retirement corpus, stage in life, and state of health.
Family philanthropy has proven resilient throughout the pandemic and grew to nearly Rs 12,000 crore in fiscal year 2020, accounting for almost two-thirds of the rise in private sector funding since FY19, says a report. According to the India Philanthropy Report 2021, co-created by Bain and Company and Dasra, funding from family philanthropy has tripled its corpus, growing to nearly Rs 12,000 crore in FY 2020. As per the report, in FY 2020, private-sector funding which stems from four sources including foreign, corporate, retail, and high-net-worth individuals (HNIs) or families totalled about Rs 64,000 crore and 20 per cent of this came from family philanthropy. While foreign contributions account for a quarter of all funding, domestic corporation donations also known as Corporate Social Responsibility (CSR) account for 28 per cent and retail investors account for another 28 per cent.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
In one of the biggest donations by a business family in India, the family of Adani Group chairman Gautam Adani on Thursday committed to donating Rs 60,000 crore (around $7.7 billion) to various charities related to health care, education, and skill development. The commitment has been made to mark Gautam Adani's 60th birthday on Friday as well as the birth centenary year of his father Shantilal Adani. The corpus will be administered by the Adani Foundation. "At a very fundamental level, [programmes] related to all these three areas should be seen holistically and they collectively form the drivers to build an equitable and future-ready India.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
rediffGURU Kirtan A Shah answers your personal finance queries.
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The pandemic should force you to take a hard look at the downside risks that could jeopardise your finances.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
While the likely intensity of the third wave is still a matter of debate, wisdom lies in being financially prepared for it, advises Bindisha Sarang.
'Children should include their parents in the group health insurance cover provided by the employer at the earliest.' 'However, the elderly should not depend on it alone and should also buy a personal health cover,' suggests Sanjay Kumar Singh.
Parents should secure thier special child's future.
'As our per capita income increases and various demographic segments emerge, the need for various kinds of protection and risk covers will become even more explicit.'
'If something unfortunate happens to an earning member, the family loses the crucial income which would have gone towards paying off debts, meeting the cost of children's higher education, or towards the upkeep of elderly parents.'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Here's how you can ensure you have enough in your kitty and be in command of your finances.
If your children live abroad, rely more on financial assets as they are easier to liquidate and move across borders.
Financial planning advisor Amar Pandit explains the most important steps for accumulating a contingency fund but cautions that this money should be spent wisely.
Postpone the purchase of big-ticket consumer durable items, recreational spending on holidays, and other such expenses unless your financial position is very secure, advises Sarbajeet K Sen.
Rs 100 crore funds have been allocated towards genetic disorders.
Nikunj Saraf, Vice President Choice Wealth, answers your mutual fund queries.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
This rainy season, don't just prepare for storms but also make your finances rain-proof, says Amar Pandit.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The whole idea is to have a balance between long-term and short-term goals.
An official statement said the commission has used its helpline to undertake various well-being surveys and identification of children who have lost their parents due to COVID-19 using data provided by the Delhi government's health department.
Dear readers, we had asked you to send in your personal finance queries to be answered by Basis founder and CEO Hena Mehta. Here's the first batch of responses.
The party released its manifesto -- Samajwadi Vachan Patra -- for the coming assembly elections, shortly after the BJP released its own.
Understand the magic that SIP brings to the table for you as an investor, says Satyen Kothari. You can start by investing as little as Rs 500 per month.
The bench sought a reply within one week and posted the matter for further hearing on September 16.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Jimmy Patel, MD & CEO, Quantum Mutual Fund, suggests some valuable financial gifts for your children.
Cost of health care is rising at a fast clip.
The completely avoidable mess that the finance ministry found itself in was rather surprising, says Debashis Basu.
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