What are goals ? As an individual / family, you have a vision or a personal objective/s that you would like to meet in your lifetime .
Some / all of these objectives may need to be financed . Therefore having a goal makes sense.
Goals have to be SMART . Create a plan to achieve your goal Execute the plan. Examine results of your execution. Incorporate feedback to your plan Repeat steps 3 to 5 In other words, this is your famous Plan-Do-Check-Act (PDCA) cycle that will help you achieve your goal.
Growing Annuity @ Retirement Mahesh is 45 years old and his current expenses are Rs 75,000/- per month . He plans to retire by 60 and would like to have an annuity which would pay him enough for his current expenses. He would like this annuity to increase by 5% every year considering inflation in mind. How much should he start investing now so that it takes of my retirement till 85?
HDFC Tax Saver Fund is an Equity Linked Savings Scheme . It has kept its benchmark as the Nifty 500. It’s performance has not been upto the mark in the recent years. Expense ratio is on the higher side. It has been ranked a 1 star fund in Valueresearch and Moneycontrol It seems that HDFC AMC has had a closer look at this and has made major changes to this fund and is keen to turn this ship around.
Emergency fund as the name suggests is the money that you would touch when you have an emergency.
Emergencies could be :
Medical Emergency Job loss etc… What is an emergency fund ? Emergency funds help you take care of the financial aspect of the emergency. During COVID-19, there were many people who have lost jobs. Job loss could be reasons out of your control and therefore it is imperative that you are prepared for it.
Before I bought my house in 2010, I was grappling with this thought whether to buy or rent ? . I was living in a rented house and was paying Rs 8000/- as rent. My parents insisted on buying a house and the EMI was Rs 14,000/- per month. I argued that the rent amount was much lesser and insisted that we live in a rented house as the EMI is much higher than the rent.
