Unlock the secrets of retirement planning in India with this comprehensive calculator. Discover how age, income, and investments shape our financial future. I’ll suggest you, explore all the variables of the calculator. There are 14 number variables that shape the final result. Change a few tiny bits in each of the variables and observe how…
Investments cannot be effective until done with a purpose. Hence, experts always advise goal based investing. But let me ask a simple question. Why we generally invest money? Because it is the right thing to do. Many people buy and sell investments without any specific purpose or goal in mind. For them, practicing investment is…
Retirement planning is important. Why? Because this is what is going to give us financial independence after we’ve retired from our jobs/work. The planning will ensure the availability of the required funds when it’s time to retire. In India, the majority of service-class retired people depend on annuities to take care of their cash flow…
![Income Tax Slabs: Tax Liability Comparison Between 2020 and 2019 [Calculator]](https://ourwealthinsights.com/wp-content/uploads/2020/02/Income-tax-slabs-Image.png)
In Union Budget presented in Feb’2020, a new tax regime has been proposed. The income tax slabs has been altered. Compared to 2019 the new tax rates are lower. But the lower tax rates will not necessarily reduce the tax liability for everyone. Who will benefit? Some will benefit from the new lower tax rates….
Summary: This guide highlights the emergency fund’s importance for middle-class financial security, recommending a six-month expense reserve with cash and insurance (life, medical, motor, property). It details building it via recurring deposits, storing it in liquid, low-risk options like savings accounts, and prioritizing debt-free status and investments only after the fund is set. Table of…
National Pension System (NPS) is a ‘retirement savings scheme’ which anyone can use to build retirement corpus. Yes, NPS is a corpus builder. In itself, NPS cannot generate income after retirement. Why I’m highlighting this fact? Because as an investor we must be aware that only NPS-investing will take us through. More needs to be…
What is annuity? It is an investment product for retired people. Only after retirement, a person can get the benefits of annuity. Annuity is purchased to generate guaranteed regular income. The frequency of income generated by annuity can be monthly, quarterly, semi annually or annually (depending on selection). Is annuity a life insurance? Annuity is…
Almost all salaried people in India contributes to EPF scheme to build a retirement corpus. But NPS (National Pension System) did not had this kind of penetration. In 2009, GOI made NPS available for ‘all citizens’ of India. Earlier it was available only for the government employees. Today we know that NPS can build a…
GOI has announced a pension scheme called “Pradhan Mantri Vaya Vandana Yojana (PMVVY)” for retired people above 60 years of age. PMVVY scheme was made available for sale since 4th-May’2017. It will remain available for sale only till 31st-Mar’2020. Only LIC of India has the sole right to operate PMVVY. One can buy online the…
How difficult it was for people to understand the EPF withdrawal process? In good old days, EPF withdrawal process was known only to the employer. Hence it was not uncommon to find ex-employees being harassed by the employers for their EPF withdrawals. But the cases of harassment was a smaller problem. The bigger issue was…
When I was 25, I was already dreaming about financial independence. On one side, my father was enjoying his job even when close to retirement, while I was considering it (retirement) at the outset itself. Read more about how to be financially independent. [Check at the bottom of this post to know, where to invest…
There are several alternatives available for investing money in India. But the problem is that, investment after retirement must be done in a specific way. Hence, the composition of ‘investment portfolio’ of a retired person is different from other people. What is the difference? A retired person plans to include those assets in portfolio which…
