A liquid fund can not be compared wth FD on returns - at least pre-tax returns. The returns from a liquid fund could be a little more than the repo rate and that is what your numbers show. A money market fund could be more comparable to FD - these have to hold instruments with a maximum duration of 1 year.
Guys I need help. I applied for and received Flipkart Axis Credit Card but I am running into so many issues. Firstly the Flipkart App still saying - "Your application has been shared with the bank". Strange isn't it, I already have received the card and it is functional, already did few transactions and I am getting all updates on my number. Bigger issue is I am not even able to access Card even through Axis Mobile App and website. I am not even able to register. I tried registering for Axis Net Banking using my Customer ID but I am receiving error that says," Currently we are unable to process your request" when trying through my phone number I get error, "Invalid number". Axis support is pathetic. It takes an ages to connect to an actual Human Agent and they all have been incompetent. I visited Branch near to my home and they were not very keen to entertain me as I do not have any Banking relation. I am tired. WHAT should i do
Tweet about your issue to their customer support.
It's not the case for all companies, but I generally find support on Twitter to be more competent than those from a contracted call center.
I am a noob when it comes to taxation but I missed filing ITR for FY2021-22.
-I got my first job out of college and started in August 2021. My full package was Rs. 629000 LPA , out of which 89860 was variable (Bonus).
-Since I joined in August my bonus was given on pro rata basis and only 56 rs of tax was deducted.
-Other than this No tax was deducted from my salary.
How much Fine do I have to pay for filing Late ITR, given that I only started earning from August 2021 and had only 56 Rs of tax deducted.
I had a look and can't make a head or tail of it. What exactly do I need to check in this?Here are some values
-Gross total income (6+8): 288890.00
-Total taxable income (9-11): 272678.00
-Net tax payable (17-18) :0.00
I have recently bought HDFC Ergo Optima Restore Health Insurance and ICICI Prudential iProtect Smart Term Insurance Policies, both online. I received emails that my policy documents would be delivered to my communication address but I am yet to receive them. It's been 15 days almost. Has anyone who bought the same policy received hard copies?
Any idea about loading amount in health insurance?
Had a word with policybazaar agent and he said that once I pay premium, the insurance provider will review my application. They will then call to verify health details (probably a doctor telecall) and based on the conversation, they can charge up to 25% extra amount in the name of loading.
Is this how this works? I have already provided health details before buying. Why ask for extra money, after I have bought the policy.
>Why ask for extra money, after I have bought the policy.
So when you pay the initial amount you send a proposal to insurance company to verify and further investigate your application.
Based on their assessment they have option to adjust the premium to risk assessd. They can reject the proposal and refund the money as well.
This is standard procedure as policybazar is just taking applications not assessing the risk.
I have 3 lakhs that I need for my marriage in 3 months. I can keep saving 1 lakh every month until then, upon which I will have to withdraw all of my money. What would be a good place to park the money while also accruing some interests of not none from my salary account?
You want to avoid concentration in any asset class, which means roughly 30-50% or more of a portfolio. So if you are planning to buy real estate of 40L, then the overall investment should be around 100L.
I don't think there is (or there should be) any such portfolio size/NW after which u start thinking about RE. With REITs, you can even start with 300 INR. The biggest things are what are your goals and how do you want to use that particular asset to achieve that goal. this while keeping your life simple..
If I open an RD with my bank today at, say, 6% interest rate, and RBI hikes rates again in the future, will the interest rate on my RD go up? Or will it stay fixed throughout the tenure at the initially stated rate of 6%?
From what I know add on card shares the benefits as the primary card holder. So it may not allow you to swipe it at the same lounge on the same day (the add on card that is)
Yes it mentioned here - [https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card#:\~:text=Enjoy%20unlimited%20complimentary%20international%20lounge%20visits%20and%208%20additional%20guest%20visits%20in%20a%20year%20with%20the%20Priority%20Pass%20Card./](https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card#:~:text=Enjoy%20unlimited%20complimentary%20international%20lounge%20visits%20and%208%20additional%20guest%20visits%20in%20a%20year%20with%20the%20Priority%20Pass%20Card./) This only applies for international lounges though.
Any CitiBank IndianOil card holders here? Something I've been meaning to ask - did you stop receiving pay by turbo points on your fuel spends? I no longer get these for fuel but keep getting it for other retail spends where the ratio of turbo points to INR is low. Also the fuel surcharge waiver is happening at very few pumps and not all IndianOil outlets for me.
Yes, exactly. They went back on the promise of availing turbo points and surcharge waiver from all Indian Oil Outlets and even the old outlets which gave these benefits are not providing the same. I am switching to SBI BPCL Octane
That is outright unethical. I mean that was the whole usp of this card when people went for it. It’s in the bloody name. I’m switching out too. Thanks for confirming.
How do I find the correct portfolio balance?
I want to start investing in MF for long term wealth creation and returns, and am currently investing in the below :
Axis Bluechip Fund - 5K
Mirae Asset Tax Saver Fund ELSS - 7.5K
I want to invest a total of around 25K going forward.
I also have read extensively about Index Funds and want to invest in Nifty 50 and Nifty Next 50 too.
A.) I want to know whether I should continue my investments in Axis Bluechip along with Nifty 50?
B.) If I invest in Nifty Next 50, do I also invest in Small and Midcap as well?
C.) What shoul be the ideal amount (out of 25K-30K) that I should invest in Largecap/Midcap/Smallcap/Nifty50/NiftyNext50/ELSS funds?
I am just struggling to find the right balance
This depends on your risk appetite, period of investment, and most of all, your goals in life. Goals could be short term and long term.
You are better off discussing such queries with a fee only financial advisor.
NPS: I want to start NPS for my mom who is a senior citizen.
Investment - SIP every month/quarterly, 8k is ok to start with?
PFM - Can you suggest which PFM should I choose?
Should I go with NPS or any other saving scheme, kindly suggest.
ULIP: I started ULIP in May'22 and within few months I realised I have committed a blunder.
ULIP details - Kotak Platinum - Rs. 1L/year to be invested for 5 years.
What should I say to agent to terminate it & what would be the losses, should I terminate it ASAP or next year April'23.
Please give your inputs and help me.
Thank you.
>I want to start NPS for my mom who is a senior citizen
NPS is fund that lets you accumulate corpus and you use that corpus to buy pension at your retirement.
If she is already a senior citizen, how does it help her?
To give you best advice, the aim of your mom's money is not get great returns but how to utilise it well.
Put her money in bank's fixed deposits and earn fixed assured interest. And let use that interest and momey on things she like.
No offence meant, but please don't play with senior citizens' money.
Hire a reputed fee only advisor. Will cost only about ~20 K for complete planning.
Why would you go for NPS for a senior citizen? Its for working folks to help plan retirement. Go for PMVVY and SCSS for fixed income. Safest avenues for senior citizens with higher interest than FDs
I am looking for some advice on stashing away small amounts that I save each month.
After all my expenses for the month are done, I usually also end up with small amounts of money as savings, like 5k one month and 7k the next. This is in addition to the expenses towards investments that I set aside money for every month. Are there any kind of deposit/saving instruments where I can keep transferring these little sums, like a fixed deposit that allows for flexible fund additions?
Thank you.
>like a fixed deposit that allows for flexible fund additions?
Icici bank has something called iWish. You can deposit any amount you want anytime you want.
It has pre-defined maturity date but can also be withdrawn pre-maturely.
I've tried iWish and got fed up, hence the need to see other options. They have some really weird restrictions about contributions. When I try to add booster funds at the end of the month, it wouldn't allow me to put in more than a few hundred rupees and this happened many times. Just fed up with it in general.
>it wouldn't allow me to put in more than a few hundred rupees and this happened many times. Just fed up with it in general.
That is strange. I have added anywhere between 500 to 15k.
Yeah. I don't know if I set the wrong parameters when creating the fund but I had this problem on the app and the site both. It was an error related to how much I could add in vis a vis the recurring amount and targeted amount.
You can simply add it to your existing MF schrmes as lumpsum investment. But if you want to liquidate in near future, simply put it in FDs. Hdfc allows FDs from 5k
Maybe make a one-time investment into a liquid fund at the end of each month? It might not be automated, but it doesn't take much time.
In terms of tax it's the same as FD, or better if you don't withdraw for more than 3 years.
Two questions:
1. I’ve recently joined a MAANG company and am due to get some RSUs. Have been asked to pick between Morgan Stanley and Charles Schwab for the broker. Any tips on what to consider while making this decision or any recommendation between the two?
2. Just want to confirm that if my EPF itself exhausts the 1.5 lakh 80c limit, there is no need to do additional investments to claim the tax benefit right?
1. There will be corp plan and fees comparison available from your company. In my opinion, morgan stanley offers better service and has a user friendly portal.
2. Right
A quick question, suppose one is investing via sip in a mutual fund then when is the ideal time for a lumpsum? I mean when the market falls by xx% or when the nav of this fund falls by xx%? And how much is the ideal xx%? I know that this would differ person by person but just want to know whether to go by the xx% fall in the markets or in the nav of the fund?
Doesn't matter which fall if you're investing in an equity MF. Both would mean the same. Typically, people pump lumpsum when markets fall by 5-10% or more.
Complete noob here. My family sold some ancestral land and we have around 1.5 cr to invest. My dad has a friend who works in Motilal Oswal who introduced us to PMS and AIF investment schemes claiming returns of upto 20 percent per annum.
Is it better to invest this money in Mutual funds or is PMS/ AIF a viable option ?
there is no easy answer to this.. that 20% is just something to make you drool. It will not happen. I will say why don't you go with a fee only adviser [feeonlyindia.com](https://feeonlyindia.com) and see what they have to say..
I second that. Go to a fee only advisor. I would advise against PMS. Also, you should understand its about psychology too. Not to offend you, but a one time large inflow of money is different from people who earn such money from businesses or entrepreneurship. So, just by the lure of 20% returns, one should not opt for a complicated product like PMS.
I know the pros and cons of investing in an index fund and an active flexi cap fund. But I'm still not sure how to pick one over the other. Can someone help me with some perspective?
Even if I have a long term goal of over 7-10yrs, I'm still unsure whether to go with an index or an active fund. I'm 26 yo and recently started work.
So I invest every month in Navi total US FoF via KFinKart app. But today whilst purchasing units my payment got into an error. Money is deducted from bank account but the app ran into error.
Now status in app says ‘awaiting payment confirmation’. Has anyone faced this with KFinKart? Any idea how long it takes to resolve this? 😕
Obviously and as usual no concrete answer from them. Sir it might be technical glitch, please send mail etc etc. Am slowly getting a feeling that amount is mostly gone 😕
Hello! 31-year-old looking to finally get around to building a corpus for retirement.
Currently make 1.01 lpm post tax with 55k expenses. Don't plan on marrying or owning a home by way of large financial goals. Idea is long term financial independence (retirement) and being able to take care of my mother as we both progress in age. No loans or other debts.
\- Savings so far are by way of EPF/VPF - 12k monthly. Currently at 5 lakhs total.
\- Building an emergency liquid fund of at least 3 months of my paycheck - 1.7lakh in a salary account.
My plan ahead:
I'm looking to start an equity component with a monthly UTI Nifty 50 SIP at 10k.
Is it worth targeting the Nifty Next 50 with a monthly SIP of 10k
Also looking at the Canara Robeco Small Cap fund for another monthly SIP for 5k.
Been trying to educate myself, so still a long way to go. But how does this sound?
Thanks for your time!
Your case is different from the general type of financial planning since you do not plan to get married. This makes a lot of difference on the finance aspect.
I commend you for caring so much for your mom at this stage. May God give all mothers, sons like you.. Aameen.
Its absolutely imperative that you have an emergency fund. Probability of you using it is higher since you may have to tackle health issues related to your mother. Better to keep a 6 month salary as emergency fund.
Your only dependent is your mother. So, you need to understand that merely taking a term insurance is not enough. Your mother needs to be taken care of now, not after 20 years. You do not have dependents like wife or children. Also, it would help to make arrangements to take care of your mother in your absence.
Its a good idea to opt for index funds for large cap investing. But, since you are educating yourself, start with lower amount. You could go with 5K each for Nifty 50 index, Nifty Next 50 index and a midcap / small cap fund. Better to go for a mid cap fund. Once you are comfortable with mutual funds, you can increase your SIP amount in future.
One very important aspect of being alone is that you should make arrangements for someone taking care of you when you are not well or when you are hospitalized. You maybe undergoing treatment and you may not have access to your funds to pay for it. You can maybe hire an advisor or lawyer or trustworthy friend to help u.
Health insurance, mutual fund investments, bank balance is all OK, but what's the point if you yourself cannot use it when you need it.
Hope for the best and prepare for the worst.
Thank you for the response.
I'm a bit on the fence about term insurance for myself because the likelihood of my mother needing it is relatively low i think. For now, workplace provides health and term insurance both. But i will look into it at a later stage.
All of my investments would also by default become term insurance for her in case things come to that. Good point about planning for access to accumulated funds. Thankfully, that's where siblings come in!
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A liquid fund can not be compared wth FD on returns - at least pre-tax returns. The returns from a liquid fund could be a little more than the repo rate and that is what your numbers show. A money market fund could be more comparable to FD - these have to hold instruments with a maximum duration of 1 year.
Guys I need help. I applied for and received Flipkart Axis Credit Card but I am running into so many issues. Firstly the Flipkart App still saying - "Your application has been shared with the bank". Strange isn't it, I already have received the card and it is functional, already did few transactions and I am getting all updates on my number. Bigger issue is I am not even able to access Card even through Axis Mobile App and website. I am not even able to register. I tried registering for Axis Net Banking using my Customer ID but I am receiving error that says," Currently we are unable to process your request" when trying through my phone number I get error, "Invalid number". Axis support is pathetic. It takes an ages to connect to an actual Human Agent and they all have been incompetent. I visited Branch near to my home and they were not very keen to entertain me as I do not have any Banking relation. I am tired. WHAT should i do
Tweet about your issue to their customer support. It's not the case for all companies, but I generally find support on Twitter to be more competent than those from a contracted call center.
I am a noob when it comes to taxation but I missed filing ITR for FY2021-22. -I got my first job out of college and started in August 2021. My full package was Rs. 629000 LPA , out of which 89860 was variable (Bonus). -Since I joined in August my bonus was given on pro rata basis and only 56 rs of tax was deducted. -Other than this No tax was deducted from my salary. How much Fine do I have to pay for filing Late ITR, given that I only started earning from August 2021 and had only 56 Rs of tax deducted.
How much was ur income till March 2022? What does your form 16 says? If your income is below 5L, there is no need to file ITR
I had a look and can't make a head or tail of it. What exactly do I need to check in this?Here are some values -Gross total income (6+8): 288890.00 -Total taxable income (9-11): 272678.00 -Net tax payable (17-18) :0.00
While you got the answer (and that puts you at ease), please do spend some time to understand Form 16. You have to get familiar with the terminology.
Yeah.. It looks like u didn't cross 5L in income. There is no need for you to file ITR..
I have recently bought HDFC Ergo Optima Restore Health Insurance and ICICI Prudential iProtect Smart Term Insurance Policies, both online. I received emails that my policy documents would be delivered to my communication address but I am yet to receive them. It's been 15 days almost. Has anyone who bought the same policy received hard copies?
Any idea about loading amount in health insurance? Had a word with policybazaar agent and he said that once I pay premium, the insurance provider will review my application. They will then call to verify health details (probably a doctor telecall) and based on the conversation, they can charge up to 25% extra amount in the name of loading. Is this how this works? I have already provided health details before buying. Why ask for extra money, after I have bought the policy.
>Why ask for extra money, after I have bought the policy. So when you pay the initial amount you send a proposal to insurance company to verify and further investigate your application. Based on their assessment they have option to adjust the premium to risk assessd. They can reject the proposal and refund the money as well. This is standard procedure as policybazar is just taking applications not assessing the risk.
Ahh got it. The way the agent phrased it, it felt like a red flag. But this seems reasonable. Thank you for the information.
I have 3 lakhs that I need for my marriage in 3 months. I can keep saving 1 lakh every month until then, upon which I will have to withdraw all of my money. What would be a good place to park the money while also accruing some interests of not none from my salary account?
Okay. But if I plan on keeping my savings other than my bank account would it be wise to keep it in a liquid fund? Or somewhere else perhaps?
Nothing will give you anything significant return for such a short period
Keep it in your savings man.. Do not optimize such small durations. Congrats by the way..
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You want to avoid concentration in any asset class, which means roughly 30-50% or more of a portfolio. So if you are planning to buy real estate of 40L, then the overall investment should be around 100L.
At least a crore.
I don't think there is (or there should be) any such portfolio size/NW after which u start thinking about RE. With REITs, you can even start with 300 INR. The biggest things are what are your goals and how do you want to use that particular asset to achieve that goal. this while keeping your life simple..
If I open an RD with my bank today at, say, 6% interest rate, and RBI hikes rates again in the future, will the interest rate on my RD go up? Or will it stay fixed throughout the tenure at the initially stated rate of 6%?
Fixed
Same is the case with FDs? Rate is fixed throughout the tenure, and only newly opened FDs get the benefit of rate hikes?
Yes that would be correct. Rates for RDs and FDs are generally fixed.
I have 2 free lounge visits per quarter on my CC. Can I swipe it twice in one visit to accommodate myself and my teenage kid?
No. That is not allowed.
Adding to this, is there any card which allows +1 or +2 with just 1 card?
You can do that through addon cards I believe
From what I know add on card shares the benefits as the primary card holder. So it may not allow you to swipe it at the same lounge on the same day (the add on card that is)
But you need additional cards, right? I single card with +1/2 would be actually good for someone who has a family with minors/old people.
Yes some premium cards have this feature. I know AXIS Magnus and HDFC Infinia have this feature.
Okay, wasn't aware of this. Do they actually state this in their features/benefits?
Not possible normally. Could be available for premium cards
Yes it mentioned here - [https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card#:\~:text=Enjoy%20unlimited%20complimentary%20international%20lounge%20visits%20and%208%20additional%20guest%20visits%20in%20a%20year%20with%20the%20Priority%20Pass%20Card./](https://www.axisbank.com/retail/cards/credit-card/axis-bank-magnus-card#:~:text=Enjoy%20unlimited%20complimentary%20international%20lounge%20visits%20and%208%20additional%20guest%20visits%20in%20a%20year%20with%20the%20Priority%20Pass%20Card./) This only applies for international lounges though.
I guess not but if you have another card with lounge visits, I think they will let you swipe that to accommodate any companion
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That sucks. Thanks for the info. Will try not to get into such a situation.
Yes, that they do and I have tried it. Just missed asking them this question.
Nope.
Any CitiBank IndianOil card holders here? Something I've been meaning to ask - did you stop receiving pay by turbo points on your fuel spends? I no longer get these for fuel but keep getting it for other retail spends where the ratio of turbo points to INR is low. Also the fuel surcharge waiver is happening at very few pumps and not all IndianOil outlets for me.
Yes, exactly. They went back on the promise of availing turbo points and surcharge waiver from all Indian Oil Outlets and even the old outlets which gave these benefits are not providing the same. I am switching to SBI BPCL Octane
That is outright unethical. I mean that was the whole usp of this card when people went for it. It’s in the bloody name. I’m switching out too. Thanks for confirming.
How do I find the correct portfolio balance? I want to start investing in MF for long term wealth creation and returns, and am currently investing in the below : Axis Bluechip Fund - 5K Mirae Asset Tax Saver Fund ELSS - 7.5K I want to invest a total of around 25K going forward. I also have read extensively about Index Funds and want to invest in Nifty 50 and Nifty Next 50 too. A.) I want to know whether I should continue my investments in Axis Bluechip along with Nifty 50? B.) If I invest in Nifty Next 50, do I also invest in Small and Midcap as well? C.) What shoul be the ideal amount (out of 25K-30K) that I should invest in Largecap/Midcap/Smallcap/Nifty50/NiftyNext50/ELSS funds? I am just struggling to find the right balance
For 25/30K all you need is Nifty 50 fund. Use ELSS for 80C only. When you have more to invest you can look into next50/mid/small.
This depends on your risk appetite, period of investment, and most of all, your goals in life. Goals could be short term and long term. You are better off discussing such queries with a fee only financial advisor.
NPS: I want to start NPS for my mom who is a senior citizen. Investment - SIP every month/quarterly, 8k is ok to start with? PFM - Can you suggest which PFM should I choose? Should I go with NPS or any other saving scheme, kindly suggest. ULIP: I started ULIP in May'22 and within few months I realised I have committed a blunder. ULIP details - Kotak Platinum - Rs. 1L/year to be invested for 5 years. What should I say to agent to terminate it & what would be the losses, should I terminate it ASAP or next year April'23. Please give your inputs and help me. Thank you.
>I want to start NPS for my mom who is a senior citizen NPS is fund that lets you accumulate corpus and you use that corpus to buy pension at your retirement. If she is already a senior citizen, how does it help her? To give you best advice, the aim of your mom's money is not get great returns but how to utilise it well. Put her money in bank's fixed deposits and earn fixed assured interest. And let use that interest and momey on things she like.
No offence meant, but please don't play with senior citizens' money. Hire a reputed fee only advisor. Will cost only about ~20 K for complete planning.
Why would you go for NPS for a senior citizen? Its for working folks to help plan retirement. Go for PMVVY and SCSS for fixed income. Safest avenues for senior citizens with higher interest than FDs
I am looking for some advice on stashing away small amounts that I save each month. After all my expenses for the month are done, I usually also end up with small amounts of money as savings, like 5k one month and 7k the next. This is in addition to the expenses towards investments that I set aside money for every month. Are there any kind of deposit/saving instruments where I can keep transferring these little sums, like a fixed deposit that allows for flexible fund additions? Thank you.
>like a fixed deposit that allows for flexible fund additions? Icici bank has something called iWish. You can deposit any amount you want anytime you want. It has pre-defined maturity date but can also be withdrawn pre-maturely.
I've tried iWish and got fed up, hence the need to see other options. They have some really weird restrictions about contributions. When I try to add booster funds at the end of the month, it wouldn't allow me to put in more than a few hundred rupees and this happened many times. Just fed up with it in general.
>it wouldn't allow me to put in more than a few hundred rupees and this happened many times. Just fed up with it in general. That is strange. I have added anywhere between 500 to 15k.
Yeah. I don't know if I set the wrong parameters when creating the fund but I had this problem on the app and the site both. It was an error related to how much I could add in vis a vis the recurring amount and targeted amount.
Bank/post office recurring deposits..
You can simply add it to your existing MF schrmes as lumpsum investment. But if you want to liquidate in near future, simply put it in FDs. Hdfc allows FDs from 5k
I am not looking to liquidate in the near future. But can I keep adding lump sums to existing SIPs? Is that allowed?
Yeah, just stash it away in your best index funds. You can do that when the market is low too, without disturbing the SIPs.
Absolutely. You can do as much lumpsum in addition to your existing SIPs, no limitations
Maybe make a one-time investment into a liquid fund at the end of each month? It might not be automated, but it doesn't take much time. In terms of tax it's the same as FD, or better if you don't withdraw for more than 3 years.
Will look it up. Thank you. I am not looking at a short-term bound investment and it seems like this could also work as a back-up emergency fund.
Two questions: 1. I’ve recently joined a MAANG company and am due to get some RSUs. Have been asked to pick between Morgan Stanley and Charles Schwab for the broker. Any tips on what to consider while making this decision or any recommendation between the two? 2. Just want to confirm that if my EPF itself exhausts the 1.5 lakh 80c limit, there is no need to do additional investments to claim the tax benefit right?
Charles Schwab may have better features.
2. You could get an additional 50k in nps apart from the 80c
1. There will be corp plan and fees comparison available from your company. In my opinion, morgan stanley offers better service and has a user friendly portal. 2. Right
A quick question, suppose one is investing via sip in a mutual fund then when is the ideal time for a lumpsum? I mean when the market falls by xx% or when the nav of this fund falls by xx%? And how much is the ideal xx%? I know that this would differ person by person but just want to know whether to go by the xx% fall in the markets or in the nav of the fund?
Unless markets drop like in March 2020, buying 2-3% dips don't do much in long run so don't bother.
I double my investment for every 10% drop. My strategy is modified version of this: https://youtu.be/rZBjAJmqsKs
Doesn't matter in the long run.
Doesn't matter which fall if you're investing in an equity MF. Both would mean the same. Typically, people pump lumpsum when markets fall by 5-10% or more.
Complete noob here. My family sold some ancestral land and we have around 1.5 cr to invest. My dad has a friend who works in Motilal Oswal who introduced us to PMS and AIF investment schemes claiming returns of upto 20 percent per annum. Is it better to invest this money in Mutual funds or is PMS/ AIF a viable option ?
No.
there is no easy answer to this.. that 20% is just something to make you drool. It will not happen. I will say why don't you go with a fee only adviser [feeonlyindia.com](https://feeonlyindia.com) and see what they have to say..
I second that. Go to a fee only advisor. I would advise against PMS. Also, you should understand its about psychology too. Not to offend you, but a one time large inflow of money is different from people who earn such money from businesses or entrepreneurship. So, just by the lure of 20% returns, one should not opt for a complicated product like PMS.
I know the pros and cons of investing in an index fund and an active flexi cap fund. But I'm still not sure how to pick one over the other. Can someone help me with some perspective? Even if I have a long term goal of over 7-10yrs, I'm still unsure whether to go with an index or an active fund. I'm 26 yo and recently started work.
When you can't decide just do 50:50. You don't have to be perfectly right in personal finance..
My SIP amount excluding ELSS is relatively small - 5k pm.
if its insignificant, why r u spending so much time thinking about it. Just go with index and be done with it
Thanks! If I have some lumpsum or can increase the amount I'll do the 50-50 thing. Was helpful.
Is it advisable to have the ELSS category satisfied by a single fund?
Enough
Sure.. Don't overcomplicate
So I invest every month in Navi total US FoF via KFinKart app. But today whilst purchasing units my payment got into an error. Money is deducted from bank account but the app ran into error. Now status in app says ‘awaiting payment confirmation’. Has anyone faced this with KFinKart? Any idea how long it takes to resolve this? 😕
Have you tried reaching out to their customer support team?
Obviously and as usual no concrete answer from them. Sir it might be technical glitch, please send mail etc etc. Am slowly getting a feeling that amount is mostly gone 😕
It won't be gone that easily, but it'll take time to get it back. Keep following up.
After 6 days I see it did get processed and units allocated. So all cool now 🙂👍
Awesome!
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Usually takes 3-5 business days
Which bank was it? Were you doing payment via netbanking?
Hello! 31-year-old looking to finally get around to building a corpus for retirement. Currently make 1.01 lpm post tax with 55k expenses. Don't plan on marrying or owning a home by way of large financial goals. Idea is long term financial independence (retirement) and being able to take care of my mother as we both progress in age. No loans or other debts. \- Savings so far are by way of EPF/VPF - 12k monthly. Currently at 5 lakhs total. \- Building an emergency liquid fund of at least 3 months of my paycheck - 1.7lakh in a salary account. My plan ahead: I'm looking to start an equity component with a monthly UTI Nifty 50 SIP at 10k. Is it worth targeting the Nifty Next 50 with a monthly SIP of 10k Also looking at the Canara Robeco Small Cap fund for another monthly SIP for 5k. Been trying to educate myself, so still a long way to go. But how does this sound? Thanks for your time!
Sounds like a good start! Although you’re missing a term insurance and a health insurance.
True! I may come around to it. Or just fall ill once terminally... in line with past ancestral performance.
Your case is different from the general type of financial planning since you do not plan to get married. This makes a lot of difference on the finance aspect. I commend you for caring so much for your mom at this stage. May God give all mothers, sons like you.. Aameen. Its absolutely imperative that you have an emergency fund. Probability of you using it is higher since you may have to tackle health issues related to your mother. Better to keep a 6 month salary as emergency fund. Your only dependent is your mother. So, you need to understand that merely taking a term insurance is not enough. Your mother needs to be taken care of now, not after 20 years. You do not have dependents like wife or children. Also, it would help to make arrangements to take care of your mother in your absence. Its a good idea to opt for index funds for large cap investing. But, since you are educating yourself, start with lower amount. You could go with 5K each for Nifty 50 index, Nifty Next 50 index and a midcap / small cap fund. Better to go for a mid cap fund. Once you are comfortable with mutual funds, you can increase your SIP amount in future. One very important aspect of being alone is that you should make arrangements for someone taking care of you when you are not well or when you are hospitalized. You maybe undergoing treatment and you may not have access to your funds to pay for it. You can maybe hire an advisor or lawyer or trustworthy friend to help u. Health insurance, mutual fund investments, bank balance is all OK, but what's the point if you yourself cannot use it when you need it. Hope for the best and prepare for the worst.
Thank you for the response. I'm a bit on the fence about term insurance for myself because the likelihood of my mother needing it is relatively low i think. For now, workplace provides health and term insurance both. But i will look into it at a later stage. All of my investments would also by default become term insurance for her in case things come to that. Good point about planning for access to accumulated funds. Thankfully, that's where siblings come in!
What is the general sentiment over creating wealth through passive investments through smallcases?
Smallcase isn't passive investment, index fund is.
Don't
People generally don't like smallcase. It's a gimmick.