Being optimistic is great but being blind may not good. There is always a possibility of life not working the way you had thought it would. And what if it does not.
With the cost of medical treatments going up more than the general inflation levels and senior citizen having to spend relatively more money on their health.
While this Budget has hit the right chords for reducing rural distress and increasing government expenditure in infrastructure, healthcare and education, it has been disappointing on other fronts.
Parity between NPS and pension exemption limits, as also exemption parity between annuity maturity proceeds and PF withdrawals is something that should be considered, says expert.
The earlier you start investing, the greater effect compounding will have on your investments.
Amit Kolekar, Associate Partner, Rajani Associates, spells out the nuances of a Probate of a Will.
Besides other purposes, the pension regulator has stipulated 15 diseases for which a subscriber can withdraw from the accumulated corpus.
NRIs should be prepared to spend some time in India as presence is normally required and helpful for clearing matters of property inheritance.
Requirements and financial stability changes at the time and one needs to be well-prepared for the future need keeping in mind the present.
Watch the interview of Hemant Rustagi of Wiseinvest Advisors with Surabhi Upadhyay on CNBC-TV18, in which he shared his views on the recent changes in EPFO model.
The earlier you start your retirement planning, the better. Consider starting an SIP in equity mutual funds early in your career.
In cases where there is no Will, or no valid Will, succession follows the intestate succession route as enshrined under the provisions of the Indian Succession Act, however vesting takes effect under personal law, which is different for Hindus (sometimes different for Sikh, Buddhist and Jain), Muslims, Christians and Parsees who inherit the estate of a person dying intestate.
If you plan your investments well, you can get decent regular income even if you retire in your 40s.
The NPS still remains a low fee product but one needs to contribute a reasonable amount for a longer period of time to gain the best value out of these low charges.
A few precautions can help you to overcome a long list of challenges that crop up at the time of writing a Will.
There are risks associated with startups and hence it is not advisable to use your retirement corpus to fund them
With POMIS, senior citizens can safeguard themselves from re-investment risk for a lock-in period of 5 years.
The returns on the PPF, NSC accumulation will not even beat inflation and hence it is advisable to opt for better alternatives.
There are a number of factors to be kept in mind while putting together the legal document.
The increase in limit applies to the overall gratuity payouts an individual receives over the working lifetime, which can now be higher.
Chairman, Pension Fund Regulatory and Development Authority (PFRDA), Hemant Contractor, talks to Moneycontrol on a wide range of issues regarding the National Pension System (NPS). Contractor says that inflow trends suggest 2017-18 would be a bumper year for NPS.
With life expectancy on the rise, you need to have savings and investment income that last you the distance.
The present FDI norms could create problems not just for the new applicants, but also for the existing pension fund managers.
At present, a subscriber can join NPS up to 60 years of age. However, they can continue to contribute till 70 years.
With good planning it may be possible to retire early. However, you will need more savings and it needs to last longer.