PLANNING
Is your child’s foreign education a crucial goal?
Consider these factors before you start saving for this expensive goal lest you risk your other goals or the child’s future.
Vi follows Jio, Airtel to raise tariffs; new plans effective July 4
Vodafone Idea has launched new plans for prepaid and postpaid customers starting July 4, 2024, following Jio and Airtel's footsteps. The changes are minimal, aligning higher prices with increased usage, and Vi aims to provide simple, comprehensive plans.
Airtel, Jio announce mobile tariff hike: Here is the full list of new prepaid and postpaid plans and prices
Mobile Tariff Hike: Airtel and Jio and have announced significant tariff hikes, marking the first major rate increase by a telco since 2021. Jio’s new rates, effective July 3, increase by 12-25%, while Airtel’s hikes start immediately. These adjustments aim to boost average revenue per user (ARPU) due to substantial investments in 5G services.
Jio, Airtel, and Vodafone Idea announce massive tariff hikes: Here's how much it will cost you
India's top telecom service providers, Reliance Jio, Bharti Airtel, and Vodafone Idea, have announced significant tariff hikes for their customers for prepaid and postpaid plans. The rate increases will take effect from July 3 and 4, 2024. The telecom comp...
Is a market-linked pension plan right for you? Vivek Jain explains
Vivek Jain, Head of Investments, Policybazaar.com says that in retirement planning, it's vital to consider both market-linked and guaranteed pension plans, allocating funds based on age and risk tolerance. Including a spouse in joint life coverage and leaving a legacy for nominees are key aspects of securing a stable financial future.
Jio hikes tariff by 12.5 to 25%; launches new plans
On Thursday, Jio, owned by Reliance, revealed a tariff increase ranging from 12.5% to 25% alongside the introduction of new plans. In the recent spectrum auction by the Department of Telecommunications, Jio secured additional 1800 MHz band spectrum for Bihar and West Bengal, as informed by Reliance Industries to the exchanges on Wednesday.
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Verizon adapts new brand strategy: New logo, wireless and home internet plans, all you need to know
Verizon has taken steps to re-brand itself by introducing a new logo, fresh home and wireless internet plans, along with special video streaming deals, that will help you save on individual subscriptions, and much more. Know how to avail these Verizon offers if you really want to opt for them.
Take charge of finances: How to make a personal financial bucket list to achieve all your goals
Taking control of our money lives is something many of us are unable to do. It sounds simple, but many of us do not believe we can take charge and do something about our dreams. Slipping into excuses, living in denial of our true situation, blaming the world for our unhappiness, and assigning it to bad luck are tactics that stop us from asking what we could do.
CEO succession planning is important. But how you go about it makes all the difference
Succession planning, including CEO succession plans and leadership pipelines, is crucial for company stability and success. Companies with robust succession plans outperform peers by 20% in revenue growth. Neglecting leadership pipelines can cost companies nearly $1 trillion annually, emphasizing the importance of effective planning.
How to deploy Rs 2 crore inheritance to meet child education expenses & retirement goals
If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts.
Saving for child's education: Market volatility, inflation pose serious risks to investments. Find out how to keep them safe
Market volatility and inflation can pose serious risks to the investments set aside for your child's education. It's important to consider strategies to safeguard these funds against potential financial downturns and rising costs.
Want to retire at 50? Start early, save regularly to achieve FIRE
Financial independence, retire early (FIRE) is a movement focused on extreme savings and aggressive investment that aims to allow people to retire much earlier than is possible through traditional budgets and retirement plans. Detailed planning, budgeting discipline, and smart investment are key components to achieve an early retirement.
Managing finances after 80: Answers to three major personal finance questions for super senior citizens
As one ages, it becomes clear that the couple won’t leave the world together. Typically, the husband worries about the wife’s ability to manage money, while the wife worries about the husband’s ability to manage food and health. However, neither cooking, nor investing is rocket science, and it is never too late to learn these crucial life skills.
What is the 4% rule for retirement withdrawals?
The 4% rule is a popular method in retirement planning. It provides a simple and conservative guideline for estimating the amount you can safely withdraw from your retirement funds each year, with the goal of ensuring your financial security throughout your retirement years. Following the 4% withdrawal rule can greatly reduce the risk of running out of savings too soon, thereby increasing the likelihood of financial security throughout retirement.
Retirement planning: How to create a Rs 8 crore retirement corpus in 12 years?
I am 42 years old earning Rs 2.20 lakh per month, with monthly expenses of Rs 1.2 lakh. My monthly investments: Rs 9,000 in NPS, Rs 5,000 in VPF, Rs 22,000 in EPF, and Rs 65,000 in equity MFs. My savings: NPS: Rs 11 lakh in tier 1; PPF: Rs 18 lakh; EPF: Rs 19 lakh; MFs: Rs 36 lakh (including Rs 3 lakh in a debt fund for emergencies); FD: Rs 3 lakh; Equity stocks: Rs 5 lakh; Corporate FD and SGB: Rs 12 lakhs. I also have a pending home loan of `8 lakh, which will be paid off in 2 years. I aim to build a retirement corpus of around Rs 8 crore by 60. Naveen Kukreja, CO-FOUNDER AND CEO, PAISABAZAAR.COM: You’re on track for your retirement corpus. Consider raising your emergency fund to Rs 7.2 lakh (6 times your monthly expenses). Opt for high-yield bank FDs from small finance banks for better income certainty, liquidity, and capital protection compared to debt funds. Your existing investments amount to `1.04 crore, of which `38 lakh is in equity instruments, Rs 11 lakh is in NPS and Rs 55 lakh in fixed-income products. Consider shifting your fixed-income-heavy investments to an active asset allocation option in NPS with 75% equity exposure. Allocate the rest to corporate and/or government bonds based on your risk appetite. With a projected 12% annualized return on equities and 5% post-tax return on fixed income, your investments could potentially grow to Rs 5 crore in 18 years. Consider halting fresh contributions to VPF and capping NPS contributions at Rs 50,000 annually (the maximum deduction under Section 80CCD(1B)), with 75% equity exposure. Maintain PPF with a nominal annual investment of `500 to keep it active. Invest surplus funds in a 70:30 equity-debt ratio. Note that equity funds offer better upside potential, liquidity, and flexibility compared to NPS and VPF. Sell noncore stocks and reinvest in equity mutual funds, except for high-conviction picks. Based on projected returns from equity and fixed-income, your additional monthly investments could potentially grow to Rs 6.36 crore in 18 years. This would result in a total corpus of Rs 11.36 crore by your retirement age. Distribute your existing and fresh equity fund exposure equally between large cap, flexicap and multi-asset funds. Secure your family’s future with term insurance covering 20 times your annual expenses. Also, invest in health insurance with a minimum coverage of Rs 1 crore, with a base cover of Rs 5 lakh and a super top-up of Rs 95 lakh.
I received Rs 18 lakh from sale of ancestral property. Where should I invest this money for the next 3-5 years?
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Don't let emotions control your financial decisions: How to embrace the joy of liquidity over hoarded assets
Enjoy all those objects that have been a part of your life—your house, garden, books, jewels and boxes full of memorabilia. But be aware that with your passing, they revert to being mere things. They will be tossed away, given off, left to rust and rot, or grudgingly cleared and sold. Make it your mission to leave this life with as little clutter as possible.
Here are the key mistakes that founders make at different stages of building startups
When you a building a startup you must know what are the things that could go wrong while launching your dream project. To make it easier for you, we have made a list of mistakes that founders are likely to make at different stages of growth and funding of a startup.
Lesson for entrepreneurs: What are the common mistakes startup founders make and how to avoid them?
India has the third largest startup ecosystem in the world, with 1.17 lakh entities (DPIIT), nearly 1,710 venture capital funds, 794 accelerators and incubators (Tracxn), and several government initiatives like Startup India. Despite this fervour and support, financial and otherwise, the startup journey is extremely difficult.ET Wealth lists the typical mistakes most founders make and tell you how to tackle these
Spending at ease in retirement: Follow these 5 rules to grow your savings at all times
The fear that the retirement corpus will not be enough comes primarily from it being small. It is also stoked by how the corpus is invested. The conservative mistake of earning years is repeated in retirement. The money is invested in debt products and income earning assets. Many retirees believe that equity investing will put their lifetime savings at risk.
Starting your own business? Take these financial precautions before quitting your job
He has worked for 25 years and has held senior management positions in large companies. He holds a large portfolio of assets, including real estate, equity, mutual funds and bonds. He is fairly confident that his business idea will scale up. His two children are currently pursuing their graduation.
80% rule for retirement savings: How much money should you save to retire comfortably?
Planning for retirement is crucial to avoid financial problems later in life. Experts recommend setting a savings goal and following some simple guidelines for a secure retirement. To achieve this, it's important to start saving early, manage debts, and make wise investments. Assessing projected retirement income and accounting for inflation is vital to determine how much savings are required.
Planning maternity breaks? How soon-to-be moms can make good financial plan
Mother's day 2024: This year Mother's day is on May 12, 2024. If you are soon to be a mom or planning to be one in next year or so, then it is important to have a good financial plan. This is to ensure that as a woman you have financial security. Read on to know how to make a good financial plan.
How to manage money after losing spouse? 5 critical lessons to deal with family finances
In a sudden turn of fate, Shubha (49) became a sole guardian of her family's finances after her husband's death. With young children (17 & 13), she took charge, seeking guidance from trusted advisors. To secure their future, Shubha meticulously documented all assets (bank accounts, investments) and navigated complex paperwork to ensure ownership transitioned smoothly. Here are the financial lessons that you can learn from Shubha's journey.
How to stay on course for your financial goals
Mitali has been working part-time so far, but has now completed a certification program and is ready to pay greater attention to her career. This will help her contribute more to the family’s income. Despite their financial planning, the Guptas find that they are often unable to meet their immediate aspirations. They are now wondering if their long-term and important goals will also be at risk.
Retirement planning: Where to invest to create retirement corpus of Rs 6 crore in 20 years
Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us right away.
Retirement planning: What is the 4% rule for retirement withdrawals?
Withdrawing from retirement corpus: Retirees frequently utilize the 4% withdrawal rule to manage their expenses in their later stages of life. Its primary aim is to maintain a steady stream of income while also preserving an ample amount of funds for the future. Adhering to the 4% withdrawal guideline can notably diminish the possibility of depleting one's savings prematurely, thus increasing the chances of financial stability throughout retirement.
'Sequence of returns’ risk can wreck your retirement planning: How to protect retirement corpus from it
'Sequence of returns’ risk is the risk of negative returns occurring later in your working years and/or early in your retirement life. It particularly comes into play during the five years before and five years after retirement— the ‘fragile decade’. Investors in this phase of their lives are most vulnerable to sequence of returns risk. Find out how to protect your nest egg from negative returns in the years before or after you quit work.
8 easy tips for women to achieve financial freedom
Women in India face societal pressures and a gender pay gap. They must ensure that they are investing in themselves and their future, without neglecting their family's needs. Whether you're single, married, or divorced, navigating these challenges can be tough.
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