Are you always at a loss while planning your finances?
Are you aware of the investment options available in the market? How best can you plan your finances?
What are the crieria for evaluating an investment option? Are mutual funds profitable investment options? When and how should one buy mutual funds?
In an hour-long chat on rediff financial planning expert Vicky Mehta offered some valuable tips on financial planning. Here is the transcript:vicky says,hi, good afternoon everyone, let's begin the chat
Murali asked,I want to invest some money in PPF on behalf of my 1 yr old kid
vicky answers, hi, ppf is a good avenue to build a corpus over longer time frames (15 years) in a risk-free manner. apart from the tax benefits availed at the time of investing, the maturity proceeds are tax-free as well. however, i would recommend that you consider building a portfolio comprised of other asset classes like equities (via the mutual funds route), gold among others, instead of opting for just a single avenue like ppf.
Murali asked,I want to invest some money in PPF on behalf of my 1 yr old kid
vicky answers,hi, ppf is a good avenue to build a corpus over longer time frames (15 years) in a risk-free manner. apart from the tax benefits availed at the time of investing, the maturity proceeds are tax-free as well. however, i would recommend that you consider building a portfolio comprised of other asset classes like equities (via the mutual funds route), gold among others, instead of opting for just a single avenue like ppf.
Murali asked,I want to invest some money in PPF on behalf of my 1 yr old kid
vicky answers,hi, ppf is a good avenue to build a corpus over longer time frames (15 years) in a risk-free manner. apart from the tax benefits availed at the time of investing, the maturity proceeds are tax-free as well. however, i would recommend that you consider building a portfolio comprised of other asset classes like equities (via the mutual funds route), gold among others, instead of opting for just a single avenue like ppf.
gurubhat asked,vicky, is this good time to invest in mutual fund? which one you suggest?
vicky answers,hi, yes. if you can take on the risk associated with an equity investment and have a long-term investment horizon (at least 3-5 yrs), now wouldnt be a bad time to invest via the sip route.
ajay asked,sir, please give a advice in what MF i should invest in 2009
vicky answers,hi, you should always select funds that have a proven track record over longer time frames. funds that have delivered not only on the returns front but also on risk parameters. most importantly, the funds have to be right for "you". i.e. they should match your risk profile and be equipped to help you achieve your financial goals.
Android asked,Hi I am planning to investing in HDFC and SBI for Tax benifit. Is there any way I can invest on every day basis? say I want to invest Rs.20K so for 20 days I can invest 1000 for both.
vicky answers,hi, think you are suggesting that you wish to invest in tax-saving funds (elss) from the mentioned fund houses. a 20-day period isnt a long-enough time frame to spread your investments over. would recommend that you opt for the monthly sip route and stagger the investments over 18-24 months
moonmoon asked,Hi Vicky. First of all a happy New Year to U and all the other readers. Pls. let me know the Mutual Funds I should invest in to have a sound financial backup in these tough scenario. I have HDFC Taxsaver, Franklin Tax sheild, Relience natural resources
vicky answers,hi, thank you. wish you a happy and prosperous new year too. at present you have 2 tax-saving funds and a thematic fund in your portfolio. it would be difficult for me to comment on which funds would be right for you without knowing more about your risk profile and investment goals. however, broadly speaking, would recommend that you consider adding a well-managed large cap fund, a mid cap fund and perhaps an opportunities style fund to your portfolio.
k asked,Is it good option to invest in post office monthy deposit scheme
vicky answers,hi, the post office monthly income scheme offers investors assured returns on a monthly basis. conversely, the recurring deposit scheme, offers an opportunity to invest regularly. if you seek safety of capital and assured returns, then investing in either of the schemes would be a good idea.
ashsihrana asked,hi , if i invest 5 lakh for five years in Bank, do i need to pay the tax on the interest earned after five years on 5 lakhs
vicky answers,hi, yes, interest earnings are chargeable to tax.
Android asked,What you will suggest for the Tax benefit investment for 2008-2009 financial year. What one should do?? Put in MF as lump sum or still go with SIP?
vicky answers,hi, i would prefer the sip route over making lump sum investments.
RR asked,Hello Sir, please suggest me reliable & good fixed deposit schemes other than banks.
vicky answers,hi, if you seek fixed deposits, you can opt for the post office time deposits. to know more, please click at https://www.personalfn.com/tax/govtsaving.html
varaprasad asked,Hi,vicky good afternoon.Which is tbe best option for saving tax.I would like to know which govt.banks offers good returns on tax schemes.What is your opinion on recently launched LIC Jeevan Ashtha?
vicky answers,hi, the best option would depend on the investor. for instance, a risk-averse investor would be better off investing predominantly in ppf, nsc and tax-saving fds. conversely, risk-taking investors can predominantly invest in elss and ulips. you can consider investing in the tax-saving fds offered by some of the leading psu banks.
ankush asked,Hello Vicky, I have an New Money back LIC policy of 1Lac with early premium of 5K, I am paying the same for last five years now I no more want to continue the same and in turn would like to go for Term Assurance policy with yearly EMI of around 5K, first of all is this a good idea, secondly if yes which is the best/good insurance company to go for term assurance policy.
vicky answers,hi, opting for a term plan is certainly a good idea. you should select the term plan that offers you the highest insurance cover at the lowest premium. as regards surrendering the policy, would recommend that you consult your insurance advisor, determine the surrender value and then make a decision.
GOLE asked,MR.VICKY THIS IS FIRST TIME THAT I SEEK ADVICE FROM YOU.RECENTLY I RETIRED FROM MY SERVICES AND I WOULD LIKE TO MAKE SOME INVESTMENT TO MAITAIN MY DAY TODAY EXPENCES. SIR, WUOLD YOU PLEASE SUGGEST/ADVIDE.THANKS
vicky answers,hi, can you please write to me at info@personalfn.com with more details.
Sekar asked,Vicky. I am looking at investing a lumsum amount (say 3 lacs) in Mutual Fund, with a 3-4 yrs horizon at a moderate risk profile. I think in a falling market, lumsum investment is better. I will want to switch this to SIP at a later stage when NAV starts to raise (in the bull run) ? What are the good performing funds that will suit me and why do you think so. Thanks for your advise
vicky answers,hi, in a falling market, the sip investment helps by reducing the average purchase cost. each installment at a lower nav, helps the investor accumulate more units. hence my advise is to opt for the sip route rather than lump sum investments.
sachin123 asked,which is the best mutual fund i can go for investing 25000 and getting the profitable return in 6 months?
vicky answers,hi, 6 months is a too short a time frame for making equity investments. you can consider opting for fmps that have bank cd portfolios or well-mamged liquid funds.
DHARMARAJ asked,SIR I HAVE INVEST RS 70000 FOR iNCOME TAX. SUGGEST GOOD ONES ,MF OR BANK DEPOSIT OR NSC etc
vicky answers,hi, have replied to a similar query earlier in the chat. please refer to the same.
jeevan asked,good afternoon vicky, our family has invested in ulip's for everyone. i found that our nav value has decreased due to recent recession. we have started investing from 2008,so i feel if we invest for another 5 years from now, we will get good returns. please tell me whether my thinking is correct or not.
vicky answers,hi, over longer time frames, asset classes like equities are known to deliver at their best. however, it is important that the ulips that you are invested in be managed well and adhere to their stated investment mandates as all times.
Ashok asked,Hi Vicky, my colleagues are buying & selling shares with in a day time. they buy in the morning and sell in the evening. is this really a good process?
vicky answers,hi, i would always consider equity investments from a long-term perspective.
harshalr asked, am investing Rs. 6000.00 per month in SBI TAX GAIN mutual fund for last 3 years and want to continue for another 5 years. Whats your suggestion/
vicky answers,hi, the fund offers a high risk-high return investment proposition. if that suits you and makes a fit in your portfolio, then you can continue.
Nilesh asked,Hi Vicky, After 1st Jan 2009 is a good time for Investment in Fixed Bonds in Bank.
vicky answers,hi, increasingly banks are reducing the interest rate offered on their fixed deposits. hence if you wish to invest in a fixed deposit, making an investment at the earliest would be advisable.
pna asked,if i have 10 lakhs spare what i should do
vicky answers,hi, would recommend that you consult a financial planner, make an investment plan and invest in line with the same in a disciplined manner.
vicky says, hi, looks like we have run out of time. thank you all for participating in the chat. if you have any more queries, please feel free to write to me at info@personalfn.com. wish you all a happy and prosperous new yearÂ…
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