One of the mistakes most homemakers make while thinking about financial planning is looking at immediate goals, says Amar Pandit.
This rainy season, don't just prepare for storms but also make your finances rain-proof, says Amar Pandit.
A good planner will take the role of a family doctor.
Consider factors like time, risk profile, return requirements, expenses, liquidity needs, etc. Make sure to have insurance and opt for a term plan, says Amar Pandit.
Want a stress free vacation? Amar Pandit tells you what you need to keep in mind.
While planning for retirement, the key is to let your money be idle, says Amar Pandit.
Here's how you must teach financial literacy to your children.
Financial advisor Amar Pandit in his book Financial Planning for Doctors lists seven most common money mistakes that doctors make. On second thoughts any one of us could make these mistakes.
The best way to invest in gold is in a staggered manner, to take benefit of any sharp corrections that could come in it.
Give them up post haste and make a rocking beginning to the New Year.
Financial planning advisor Amar Pandit explains the most important steps for accumulating a contingency fund but cautions that this money should be spent wisely.
There is no reason for a child with no dependents to have insurance because insurance is put in place to provide for the child in the event of a parent's untimely death and not the other way around, says Amar Pandit.
Proper documentation can help take half the pain out of filing your income tax return, says Amar Pandit.
Although not much is spoken about financial infidelity, it is becoming more and more common these days. Financial planner Amar Pandit charts a four-point plan on how to be financially loyal to your spouse
If you want your children to inherit true wealth, make them financially literate, says Amar Pandit
Customers need to weigh whether they will be better off selling their mutual fund holdings or taking a loan against it.
Your plan, and not what the market is doing, should drive your behavior.
Invest early. Plan your taxes.
Don't invest more than 5 per cent of your portfolio in bitcoin. The virtual currency's price has run up very fast and experts feel a correction may be around the corner.
Short-term loans from NBFCs can be more convenient but come at higher cost
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Gold companies have started reducing production. This implies that gold prices will not go on a free fall anytime soon
Many millennials believe that they have enough time to plan for long-term goals, hence they do not worry about goals such as retirement.
Only tactical investors lose money in a downturn due to their short investment horizon
Financial advisors say, not to get carried away by stocks that promise high returns in short time.
Also build a contingency fund equal to 9 to 12 months of expenses.
While there's tax arbitrage advantage in ULIPs now, experts say investors should prefer mutual funds for long-term savings.
Experts say you may invest in small-sized funds and benefit from their nimbleness.
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
The current bear run has already been the second longest since 1975.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
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