When taking home loan one should keep in mind while going in for home loans
* – Decide how much loan you wish to borrow. * – Pick between Floating Rate and Fixed Rate. * – If interest rates are likely to go up in fixed, they are t come down in floating. * – Benefits * o 80C – 15 Lakhs * o Sec 24 – 2 Lakhs.
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* – Overseas education is becoming the first option for many people. * – Research courses, fees, institutes and talk to other parents. * – Start early- easier to achieve. * – If possible, you can even have some assets overseas. * – Plan for accommodation, apart from fees.
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* The highest form of risk is a medical risk. * The inflation is higher than normal. * One needs to take cover post exit or retirement. * If you don’t have a steady income, you need it most and a medical risk can eat into your savings. * A major surgery cost about 10- 15 Lakhs as of today. * Recommend – 25 – 5 Lakhs cover. – For 10 – 25 – 50 Lakhs, premium is marginal. – Top Up Insurance.
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* Many clients come to me on how they get it wrong. * By selling when it goes up, they don’t have the opportunity to sell at the options peak. Sometimes this turns even worse if the market cycle is down in the long term. * Objectives – To get the highest price. – Phased exits by diversifying and monitoring resistance levels. – Convert paper money to real money. – It’s very rare that a sector maintains superior return. – Risk – Working in the same sector.
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Debt Funds have a whole range of options to choose from FRF to Liquid to Income to GSec
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* – Firstly, one needs to decide on the duration. When Interest rates go down, long duration is better whereas when interest rates go up, short duration is better. * – Secondly, one needs to understand that a credit quality investor tends to go for a high return fund not realizing that they invest in poorer quality bonds. * – At the current time, when the economy is not in the best shape, it is important to look at credit quality.
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Fixed asset allocation vs. dynamic asset allocation. Which is better?
Having the right asset allocation has been proven to deliver the best risk return
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* – At Right Horizons we like to look at a dynamic risk allocation. * – Based on your risk profile you need to arrive at the appropriate asset allocation. * – As the market goes up – lower asset allocation As the market falls- higher equity * – This manages risk better as well as delivers superior performance
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NPS or the National Pension Scheme is relatively a recent introduction by the government. The NPS helps individuals to plan for their retirement income. Being a long term need it encourages people to invest into NPS from an early age by also giving tax benefits while you invest.
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* – If you are salaried, upto 10% of your salary can be invested into NPS. There is an additional deduction available for NPS to the extent of Rs 50,000 which is over and above the limit of section 80C. * – NPS is a low cost scheme that allows you to choose how the funds are invested. You can invest both in equities and also safer debt instruments. The equity exposure is capped to 50% for investors, which reduced the flexibility. * – One needs to keep in mind that NPS is has restrictions on withdrawals. One can withdraw amounts for specific needs. * – After 60 years, 60% of the corpus can be withdrawn in lump-sum. This has now been made tax free. The pension that you receive is taxable. * – NPS is definitely and option to consider as part of one’s pension planning. It provides tax benefits on investing and is a very low cost scheme. On the flip-side keep in mind that the scheme is not as flexible as avenues like Mutual Funds and liquidity is poor.
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The traditional way of planning for retirement is to buy a pension product. Buying a pension product suffers from a few disadvantages. Firstly, most pension products do not take care of inflation post retirement. Secondly, its too concentrated to the avenue it invests into. Thirdly, it lacks the flexibility. A pension plan can be one of the options to plan for your retirement.
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* – We suggest that you look at a diversified set of options to plan for your pension. You could use a set of options that are liquid, and provide stable returns even if they are lower. You could use long term avenues that deliver superior returns as well. * – We like to use a diversified set of options including debt and equity mutual funds, pension plans, direct equity, PPF, tax free bonds, NPS, etc. One option that I would like to specifically mention is NPS since it is relatively a recent introduction. There are tax benefits when you invest into the NPS which you can take advantage of. It was tax inefficient before and this has been now addressed with withdrawals becoming tax free. * – As you come closer to retirement, it is important to manage your asset allocation so as to provide for your monthly pension from avenues that are not market linked. * – You also need to provide for some liquidity to take care of unforeseen expenses. * – In summary, we suggest that you use a diversified set of options that take care of risk, return, liquidity and taxation. Further, tracking the performance of your portfolio to ensure that you achieve your pension requirement is critical.
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Let me give you an example of myself. I had a goal of retiring from corporate life and getting into the entrepreneurship mode at the age of 35. However, I was able to do this almost 5 years earlier. I will share with you what actually helped me achieve this goal of mine.
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* – Firstly, you need to outline your goal clearly. Many people I know do not end up achieving their goal is because they have a moving target. * – Secondly, you need to have a clear game plan for the same. Ideally, you should do a financial plan and then decide on a practical time frame for retiring. * – Thirdly, be disciplined as you work towards your goal. This is actually the most boring phase and needs to be followed though over many years. Hence, tracking on how you are doing Vs your goal is an important factor towards achieving your goal. * – You need to be able to find the right mix of aggression to be able to achieve your goal early, but also be cautious so as not to lose you returns.
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