5 reasons why your Chartered Accountant is not your Financial Planner /Advisor?

5 reasons why your Chartered Accountant is not your Financial Planner /Advisor?

The much respected Chartered Accountant in many ways remains the first priority when it comes to seeking advice on financial matters in the Indian household. For many of us we hardly see the line that separates a Chartered Accountant from a Financial Planner. At best we see a blurred line! The typical ignorant cost-saving attitude that quite a few of us sport in the key aspects of our life. We are not talking about just qualification here. Financial Planning needs expertise. An investor has to think if his efficient Chartered…

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#6 Steps to Plan Your Finances Before You Turn Entrepreneur

#6 Steps to Plan Your Finances Before You Turn Entrepreneur

To be used only during emergencies, there should be a separate sum of Rs 2-3 lakh kept in the bank Starting a business is tough. The sweat and the sacrifices can take a toll on a start-up ninja. But what’s tougher is keeping it afloat long enough for it to pick up traction. Your business starts with you, so it will be extremely important to keep your very own personal finances in order. Apple’s Steve Jobs, Microsoft’s Bill Gates, Infosys’ Narayana Murthy or Paytm’s Vijay Shekhar Sharma made it big…

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Separate Needs from Goals and Secure your Future.

Separate Needs from Goals and Secure your Future.

71% of parents in India are willing to go into debt to fund their child’s higher education 3.44% is the dismal extent of insurance penetration in India 89% of healthcare expenditure is done out of pocket by Indians. 71% of what they will actually need at retirement is what most Indians manage to save – up   Source: As quoted by ET Wealth based on Aviva Health Plan India Plan study What does the above data tell us?  The data is an eye-opener on the dismal state of individual financial…

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Five things to prepare yourself for the next financial year

Five things to prepare yourself for the next financial year

Beginning of the financial year is the best time to get your money acts together. Well begun may be half done in many things. For your financial well-being however well begun is a big step towards wealth. A few suggestions for us to consider, as we look at the financial year 2017-18 that is just days away. 1. Get a grip on the future. Planning the needs and goals of our future helps us get a grip on the task at hand, and the way to get there. Our needs…

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Are you constantly broke? Money management for the millennials.

Are you constantly broke? Money management for the millennials.

Meet Harish Amera who touches a very high five figure gross salary because of his networking job at a Fortune 500 tech company. The millennial lives life completely by his own terms.  Harish simply loves what he does, absolutely enjoys traveling and a great time with friends. His weekends are packed with fun activities, partying and shopping. Harish lives alone in a high-rise elite single bedroom apartment in Bangalore. He is happy that all his hard work studying and securing grades in his school and college has finally paid off…

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Are guaranteed life insurance plans worth buying?

Are guaranteed life insurance plans worth buying?

The primary purpose of life insurance is to provide protection to one’s financial dependants. There are, however, savings-oriented life insurance plans which in addition to providing protection help one save for long-term goals. Such plans could be participatory (with-bonus) or non-participatory (without-bonus) in nature. The non-participatory plans, instead of declaring bonus which may vary depending on the profits that insurers make, may carry a guaranteed return/addition in lieu of bonus. The element of guaranteed return in the form of guaranteed additions (GA) in life insurance plans makes them attractive for…

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Invest smartly while making last-minute tax planning moves

Invest smartly while making last-minute tax planning moves

Taking advantage of tax deductions for investment under section 80C of the Income Tax Act must start with a list of investments already made to avoid unnecessary over investing for tax deduction. The benefits from tax deductions are provided on a specified range of investments made during a financial year. Time is running out for making investments for the financial year 2016-17, with barely three weeks left. Considering the very limited time available to the taxpayer a warning is warranted – most investments made for tax deductions during the last…

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Celebrate womanhood, invest smartly on International Women’s Day

Celebrate womanhood, invest smartly on International Women’s Day

A woman’s financial plan must be aimed at creating long-term financial stability. Their emotional needs must be factored into the financial plan. Planning for one’s financial security is a must for everyone. If you are a woman, be it a working woman, a homemaker or a single mother you have financial needs. Are your financial needs different from men that require you to follow a different financial planning routine? If so, how do you go about securing your future and what are the instruments that you should invest in? Financial…

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10 tax-planning tips to make your investment rupee go further

10 tax-planning tips to make your investment rupee go further

Do not skip checking the conditions that are attached to most deductions. Used prudently, deductions can ensure a large tax free income, says Anil Rego All investments proposed or made are analysed based on the returns. Ideally these would factor for the risk as investors are rightly concerned about safety and return on capital invested than just the returns on their capital. An aspect that is commonly ignored in the quest for higher gain is the effect of taxes on the returns earned. Post tax returns are the final and…

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Investments: Why you must be looking beyond tax planning

Investments: Why you must be looking beyond tax planning

Financial plan should be the driving factor behind your investments and not the tax planning. What exactly drives your investment plan and your investment process? You can reasonably assume that in majority of the cases the investment process is essentially driven by the need to save tax. So you buy insurance to save tax under Section 80C as also you buy PPF to save taxes up to your prescribed limit. Your mutual fund investments are largely driven by the need to save taxes by investing in ELSS. Even your decision…

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