Skip to main content

Financial Planning for Single Women

Top SIP Funds to Invest in India Online 

Today Indian metros are seeing an increasing number of women opting to stay single. In their priorities and approach, they often differ from couples. Here are some points to consider while planning for single women:

Independent:

Unlike married women, singles are usually more independent and practical in their decisions, says Deepali Sen of Srujan Financial Advisors. The biggest advantage of working with single women is that they know what they need. They are extremely independent in their decision-making. While married women can commit only after discussing with their family, single women take decisions on her own

Commitment issues:

Single women's commitment to their investments varies with age. While women below 30 years are more carefree and prefer spending on comforts rather than investments, those over 30 are more serious for investments.

The advisors must hand hold such clients in the initial years and ensure that they do not eat into their savings. Single women need handholding in the initial years. Over time, they get serious about their finances

Real estate:

Just as men have affinity for cars, women prefer investing in properties. Once they have invested in a property, they usually start saving up for other goals

Advisors must encourage such clients to pursue this goal. I advise women to invest in a house even if they are going to inherit some property. This ensures their financial independence, even post retirement

Vacation planning:

Vacations are a big part of a single woman's life. Since they do not have many commitments, bachelorettes usually prefer taking long vacation. Vacation planning is a big part of their financial plan. Singles prefer taking a vacation at least once a year. Apart from providing for yearly vacations, advisors must also plan for vacations they might take post retirement. In most cases this is an international holiday

Retirement planning

Unlike couples, single women require to save more for post retirement contingencies such as emergency fund, medical expenses apart from the retirement fund.

I suggest my clients to put aside at least 50% of their funds towards retirement. This way, even if they have to quit their job early, they are not hard pressed for money.

Apart from these key areas, single women, at times, need to provide for their dependent parents or siblings.

The main difference in planning for a single woman as opposed to a couple is their acceptance of their situation. I find that it is easier to plan for singles as they are more realistic. They understand their challenges. They are also very practical in their goal setting




SIPs are when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich

For further information on Top SIP Mutual Funds contact Save Tax Get Rich on 94 8300 8300

OR

You can write to us at

Invest [at] SaveTaxGetRich [dot] Com

Popular posts from this blog

ICICI Prudential Dynamic Plan Invest Online

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   ICICI Prudential Dynamic Plan             Invest Online This fund does remarkably well during falling markets, but fails to show the same prowess during a rising market. The fund sticks to its mandate to adapt to the dynamic nature of the market by shuttling between debt and equity. It takes aggressive asset calls in equity when the market surges by investing in quality mid-cap stocks. At the same time, it adopts a defensive strategy by investing in debt and cash when markets get overvalued, making it a good long-term choice.     For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call     Leave a missed Call on 94 8300 8300   Leave your comment with mail ID and we will ...

Lump Sum or SIP?

Invest Mutual Fund Online     You have a lump sum in hand and you wish to invest in equity funds. However, you have heard a lot of talk about investing in equity funds through Systematic Investment Plans (SIPs) because they help average costs, ensure you do not ill-time the market, and help you invest in small sums, besides giving you many other advantages. So, should you invest the money you have in hand in one go, or let it remain in your bank account and then do an SIP? There is no harm in investing a lump sum amount. For all you know, compounding, over the long term, could work better with lump sum. However, make sure you fulfill all of these three criteria if you want to invest in one go. Else, SIP is the way to go. #1: You invest for the long term According to past data, ideally, if you have a time frame of 12 years or more, you can consider lump sum investing (provided you satisfy the other two conditions that follow). So, what is the sanctity behind 12 years? Is it because only...

Birla Sun Life MIP II Savings 5

  Birla Sun Life MIP II Savings 5 - Invest Online   Have you traditionally been a debt investor but now wish to test waters in equities? Then, debt-oriented funds such as Birla Sun Life MIP II Savings 5 (Birla Savings 5), which have limited exposure to equities, may fit your requirement. With a five year return of 10.5 per cent compounded annually, the fund managed a good 3-3.5 percentage points more than its benchmark Crisil MIP Blended Index, as well as its category average. The fund appears well poised to capitalise on a falling interest rate scenario and has increased the average portfolio duration of its debt instruments in recent times. Suitability Birla Savings 5 is suitable only for conservative investors. If you want to make a beginning in equities and cannot take any short-term declines in your stride, then this fund will suit you. If you are already an equity investor and want to use a debt-oriented fund merely as a diversifier, then you may prefer peers from the HDFC and Re...

Why credit history is critical?

Will you need a loan to buy a car or a house? Do you know why some people get their loans sanctioned quickly without any hassle, whereas others find that their approval is delayed or their application is rejected? If you want a loan, you will need to work to build a solid credit history because this can have a bearing on the ease with which you get loans. Read on to learn more about what is a credit history and how to build a good credit score. What is a credit history? Your credit history is a way of tracking your credit behaviour and habits — basically it shows how disciplined and regular you are when it comes to repaying your dues on loans that you have taken. It will show a complete record of your past borrowing and repayment record including details about any late payments or if you have defaulted on a loan. This track record is readily accessible to lenders and is used by them to when reviewing your loan application. Borrowers who have historically had a bad record of managing...

Credit Card: Card Protection At Low Cost, Users Will Benefit

One safety rule many international travellers follow is blocking and destroying their credit cards after a trip. Judicious travellers know that fraudsters can easily capture the details stored on a card's magnetic strip and misuse it by making a new one. HDFC Bank, Citibank and Axis Bank have already begun upgrading their customers to EMV cards. Others like Deutsche Bank will soon introduce the feature. HDFC Bank have started providing EMV cards to our platinum card customers and others who travel abroad. This has proven to be more secure than earlier technology. There are a number of other measures that regulator and card companies are using to protect cards against fraud or to free cardholders of liabilities in case of misuse. Card Protection Plan (CPP): This is the most popular plan that card companies have resorted to. An independent agency sells this plan through all private and some government issuers in the country. CPP covers customers for liability arising in case...
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