How can I buy an insurance for my phone? What would be covered under phone insurance? —Name withheld on request. You can buy portable equipment insurance for your mobile phones, laptops or personal portable devices. Such insurance is generally an all-risk policy. It would cover any accidental damage to the device including breakage, short-circuit and … Read more
I work in the IT industry and have plans to retire in the next 10 years. I have already planned for my daughter’s education expenses and kept ₹50 lakh aside for this. At present, this amount looks good based on her education plans. I have invested in two properties that are valued at ₹1.2 crore … Read more
If you want to save a handsome corpus till your retirement, you can opt for the National Pension System (NPS). It not only assured to give corpus at the time of retirement, it helps in wealth creation by investing in equity. Within the NPS, subscribers can invest in two forms of accounts: Tier I and … Read more
Pandey, who retired more than two decades ago and now relies on his pension and mutual fund (MF) systematic withdrawal plans (SWPs), admits that he did not feel the need to commit to any serious investments for a long time after retirement. Retirement Using his retirement benefits, a significant contribution from his son who was … Read more
Most people fear the idea of estate planning or laugh it off thinking they are immortal. Estate planning is about ensuring your loved ones or a third party get access to your assets in a manner that you would want them to. Estate planning at its core is about putting arrangements in place for how … Read more
Having been introduced on May 1, 2009 for all citizens of India; National Pension System (NPS) has recently completed 15 years of its existence. The Government of India introduced NPS from Jan 1, 2004 (except for armed forces) before rolling it for the general public five years later. The scheme is aimed at providing pension … Read more
Kumar, who is based in Bengaluru, says he and his wife have already visited 31 countries across five continents, while South America and Antartica are still in their bucket list. The couple just got back home last month from a trip to Uzbekistan in Central Asia “We travel 4-5 times every year and include multiple … Read more
Employees’ Provident Fund Organisation (EPFO) reported more than 19 per cent growth year-on-year to 1.65 crore members in fiscal 2024, the latest payroll data shows, showing improvement in the employment situation in the country, reported Press Trust of India. “In last 6 and half years alone, more than 6.1 crore members joined the EPFO fold, … Read more
I am 38 years old, make ₹1.35 lakh a month, and want to accumulate ₹5 crore for my retirement. Where and how should I invest to achieve this objective? —Name withheld on request You are 38, and if you plan to retire at the age of 60 with a corpus of ₹5 crore, you should … Read more
An argument that is often heard against the National Pension Scheme(NPS) is the long lock-in till age of 60 years. Another concern is the accessibility of the corpus in case of early retirement. Subscribers have for long been used to defined benefit scheme like the employee provident fund which gives a fixed return and find … Read more