The Power of Compounding is one of my favorite topics - because it is very SIMPLE to understand, is a very POWERFUL concept and it is for EVERYONE. Power of Compounding is nothing but the value that one can create from 1 single investment over a long period of time. It also defines the value of a certain amount of money invested today, versus being invested later, i.e. the time value of money. To explain this we have to take some simple examples. The Power of TIME Let … [Read more...] about Power of Compounding – How is it used in Investing?
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In Part 1, we covered WHAT should be the expenses that you need to plan for. To summarize, College, Post-Graduation and Marriage expenses should be planned for. Other expenses can be managed from regular income. Further, in Part 2, you read WHERE to invest your money and WHY that is indeed the best way - Equity, PPF, FD or similar instruments (in that order) could be a preference, provided you have time on your hands. You also understood the significance of having a Term Insurance … [Read more...] about How to Plan for the Future Expenses of your Child – 3
In Part 1 we covered WHAT should be the expenses for the child's future that you need to plan for. In conclusion we can say that College, Post-Graduation and Marriage expenses should be planned for. Most other expenses are smaller and can be managed from out of our regular annual family income. Part 2. What should be the approach when planning for child's future expenses? For fool-proofing the future of your child, you need a solid and shock-proof plan – nothing less. And getting … [Read more...] about How to Plan for the Future Expenses of your Child – 2
The market for Immediate Annuity plans in India is just beginning to emerge. In the time to come, this will emerge as a favourable avenue for retirees to park their funds and get an income from it till the end of their lives. Parameters to compare immediate annuity plans in India 1. The Type of immediate annuity plan that YOU want There are several types of immediate annuity plans. When you compare, ensure that you are comparing between the same type of plans from different companies. … [Read more...] about How to Compare Immediate Annuity Plans in India
You must have at some time or the other bought a product or service online. These days it could be any out of a movie ticket, a train or air ticket, a book, clothes and even groceries. Then why not insurance? - you may ask. Well, some of us are still not comfortable because even today, insurance, unlike any of the products/services I mentioned earlier, is largely a product which is sold and not bought. Here's why all that is changing now. Following are the myths about buying … [Read more...] about Online Insurance – 5 Myths About Buying in India
The most common annuity plan you will hear about is Immediate Annuity for Life with Return of Purchase Price. But what really does all that mean? Before you dive into making your choice, read what are the options and what suits you best. Because once you start an Annuity plan, it may be expensive or sometimes impossible to get out of it for the rest of your life! The Immediate Annuity Plans market in India is just taking flight. LIC has always been the first, but of late many private life … [Read more...] about What are the Types of Immediate Annuity Plans available in India?