What a Trust can do for you The transferor or originator of the trust usually has the objective of ensuring that wealth is passed on to beneficiaries within the family or outside in a specified manner.
Investing for your minor child? These regulatory changes may affect you. Investments could, until now, be made from a Guardian bank account. This will stop. A bank account of the minor (either single or joint with Guardian) is required. This is the big change from the practice so far.
Can your friend be your financial advisor? There is an element of comfort in dealing with friends. “At least, they wouldn’t cheat you” is the usual reasoning. But then, there can be pitfalls as well.
How to save money on your utility bills We need a phone to communicate, internet to browse, electricity to live and gas to cook. In a way, it’s our life line. Expenditure on these utilities can’t be completely done away with. However, by spending smartly we can chop-off the excesses and save for your future.
Thought of succession yet? A succession plan becomes important if you have created assets through your working life. These assets ideally will go to your family in the event of your demise, however, the proportion and timing of distribution if left undefined can cause a great deal of uncertainty for those you leave behind.
Save more or chase “returns”? What works better? When I started investing myself, I too believed in these metrics blindly and chose based on that. It took many years of learning and real-life investing experience for me to realise a subtle truth. That truth was simply that growth rates matter but they are still subservient to one key factor which is much more in your control than the markets.
Don’t ignore Claim Settlement while choosing your term policy Contrary to popular opinion, term policy – that offers pure life cover – is not a ‘commoditized’ product. You need to go beyond the premium to look into its policy features and terms and conditions as well.
Tax treatment of your debt fund capital gains Earnings from debt funds can come either in the form of dividends or capital gains or even both. While dividends are tax free after you have received them, capital gains are taxed post being realised. Here is how you add the capital gains to your tax return filing.
What does “good equity investing” mean in 2020 and beyond? What is more important for investors like us amidst all this news is knowing what constitutes “good equity investing” now? What will get us to where we want to reach given the money we earn and have?
How to use budget percentages to meet your financial goals Supposing your budget is off-balance. How do you then figure out which expenses to knock- off the list? This approach will help.
How to understand taxes associated with your debt fund gains? There are two ways in which you may be taxed on gains from your debt funds – dividend tax or capital gains. Read on to know which one of the two is more efficient in your case.
How much should you donate to charity? How much to donate is a personal choice. While you may or may not follow any rules, it is always a good idea to donate, according to your capacity and without stretching your finances.
