Skip to main content

Assess your risk tolerance for good financial health

Tax Saving Mutual Funds Online

Current open Infra Bond Application form

 
Most people (including those who have planned for their retirement) are concerned about how their financial status will change once they retire. The fear of exhausting one's entire retirement corpus is one of the major concerns for people at the brink of transition into a new life.

This is a very valid concern, and one doesn't want to end up in a scenario where corners need to be cut to make the basics meet. However, such situations can be avoided by following a few steps: Reassess your portfolio: If you are still very long away from your retirement, this is the apt time to reassess your existing retirement plan. Look at asset allocation to minimise your risk and understand what works best for you. If you are nearing your retirement age, make sure you choose low risk vehicles that will help you achieve your financial goals. To make the reassessment process fruitful, you should also consider relooking at your dreams and financial goals to check if they need to be revised first.


Know your risk tolerance: There are various tools and processes one can apply to reduce the impact of risks to your financial health. However, there are cases, where people create financial plans but do not have an understanding of their risk tolerance. If you are not sure about how much risk you are personally comfortable with or how much risk your existing portfolio allows you to take, its time you sit with your financial planner to assess your risk tolerance level.


Get rid of debt: In an ideal scenario, one should stay away from accumulating any bad debt (for example ­ credit card debt).


However, as you get close to retirement, you should be free of all kinds of debt, (including `good' debt like home loans).


The fund that you create for retirement is meant to provide for your living expenses and not to pay loans.


Health insurance: One of the largest contributors of expenses for people post 60 years of age is medical/health expenses. And, this is one component that you need to be adequately prepared to deal with. A health insurance policy is a must have for you post retirement, however, the sooner you get, the better it is for you.


In addition to this, set aside funds for regular medical expenses which are not covered as a part of your health insurance policy.


Don't spend all your resources in one go: Many people believe that now that they have retired, they are free to buy or do what they want, And end up splurging all of their wealth. Instead of spending all of it one go, take a percentage of it every year and do whatever you want to. When Suresh, had started his retirement plan, he said he wanted to have enough wealth to do whatever he wanted without dipping into his pension fund. So, we created a `splurge account' for him, where every month till his retirement, he would invest 1 per cent of his savings. This would mean that he can do whatever he wanted with that saving amount without worrying about overspending.

It's never too late to think about your future. Small steps like these can help you live comfortably even in your retirement, without having to cut corners.
After all, your retirement is the new beginning of your life.

 

 

---------------------------------------------

Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.

 

Invest Tax Saving Mutual Funds Online

Tax Saving Mutual Funds Online

These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)

 

Download Tax Saving Mutual Fund Application Forms from all AMCs

Download Tax Saving Mutual Fund Applications

 

These Application Forms can be used for buying regular mutual funds also

 

Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds )

  1. HDFC TaxSaver
  2. ICICI Prudential Tax Plan
  3. DSP BlackRock Tax Saver Fund
  4. Birla Sun Life Tax Relief '96
  5. Reliance Tax Saver (ELSS) Fund
  6. IDFC Tax Advantage (ELSS) Fund
  7. SBI Magnum Tax Gain Scheme 1993
  8. Sundaram Tax Saver

---------------------------------------------

Application form for Tax Saving Infrastructure Bond and more information

Current open Infra Bond Application form

 

Submit filled up application    Collection canter near you

 

 

 

------------------------------------------------
How to apply to REC Bonds?

Apply for REC Tax Free Bonds forms below

Download REC Tax Free Bond Application Forms

Submit the filled up form to Collection canter near you

Popular posts from this blog

Save Tax With Mutual Funds

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300       Mutual funds are ideal as long term investment avenues for retail investors. To encourage investments in this avenue, the Government of India offers investors a spate of tax benefits thus ensuring maximum benefit from mutual funds held beyond a year. Sample some of the key benefits and refer to the table for a detailed list of tax rates for different types of schemes ·        Avail deductions under Sec 80C of the Income Tax Act by investing up to a maximum of Rs. 1 lakh in designated Equity Linked Savings Schemes (ELSS). Such investments have a compulsory lock in period of 3 years. ·        First time retail investors in equity with a gross total income of up to Rs. 12 lakh can invest up to Rs. 50,000 in specific MF schemes un...
Read more

Buying a Used Car

Invest in Mutual Funds Online Download Mutual Fund Application Forms   Pre-owned car can make sense in these inflationary times. But buying one can be trickier than getting a new vehicle    If you are thinking of buying a car but are worried about the rising inflation and higher EMIs eating into your budget, you should consider buying a used car. For those learning to drive, the general advice is that they should hone their driving skills in a used car. However, buying a used car is not an easy task. Though a used car costs less, there are a lot of aspects to be considered while buying one. You should do your due diligence before buying such a car. For example, two cars of the same model would carry two different prices. The difference in price could be on account of the age of the car, how many people have driven, etc. First Fix Your Budget Since used cars are available in a wide variety of models and prices, the starting point would be to determine your budget befor...
Read more

How much to invest in gold ?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) Let your motivation dictate the share of the yellow metal in your portfolio Enough has been said and written about gold as an investment option. The latest argument is that the craze for gold among Indian households is endangering our country's balance of payments. The policymakers are busy trying to find ways of discouraging investment in gold, but if households keep the common good in mind, they would be paying the market price for gas cylinders as they do for, say, their mobile phone bills. After all, private decisions are driven by private motives. So, how should a household look at gold from its own perspective? Gold is primarily acquired for its merit as a store of value. Even if the worst crisis hits a family, the gold that it holds could be put to use anywhere in th...
Read more

Debt Mutual Funds Best Fixed Income Investments

Debt Mutual Funds - Invest Online     In the last one year, except for a select few sectoral funds and small cap funds, not many of the equity funds have given great returns. On the other hand, debt funds have done relatively well in terms of returns. So far in the new year too, the stock market has been extremely volatile, pushing investors to look for safer havens. In this context, debt funds are looking safer bets for those investors who do not have the appetite for higher level of volatility. Investors who look for a regular income stream, also look at fixed income products like debt funds, bank fixed deposits and post office monthly income schemes.  Among the fixed income products, debt funds score over others because of chances of higher return, has nearly similar level of risks and liquidity. According to Shah, people looking for regular income could opt for a systematic withdrawal plan (SWP) in debt funds , which, if done judi ciously could also save on taxes. Shah explaine...
Read more

Diversification is key to gain more

Even those who prefer debt for its safety are looking at more options    It is not often that you find more than a couple of asset classes producing good returns at the same time. Invariably, assets such as gold and equity don't perform in tandem, and hence it was easier to allocate to them in line with the risk profile of the investors. In the last couple of quarters, however, more than one asset has turned attractive - gold, debt and equity. In line with the trend, you even have monthly income plans with a combination of more than two assets.    In the past, those who stuck to debt were a different class of investors who didn't wish to take risk with their money. The changing lifecycles and the growing integration of investment markets across the globe have pushed even individual investors to embrace the concept of asset allocation. Hence, you have individuals who were using debt to park profits being prepared to take advantage of other assets.    For instance, when the...
Read more
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now