ELSS investments require a long-term commitment of at least seven years.
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
The old tax regime remains unchanged. 'Taxpayers opting for it will continue to follow the existing slab rates and deductions.'
'They are ideal for short-term financial goals like children's education or a down payment for a house.' 'They are also useful for transitional savings, such as during job switches or while starting a business.'
'If you are not prudent, you may exceed your budget, and if it happens too often, you may end up in debt.'
Novice investors must understand that volatility is an inherent part of equity markets and learn to navigate through such phases.
While basic policies focus on structural damage, comprehensive ones extend to household contents like furniture, electronics, clothing, and other personal belongings.
Health insurance claims are often denied due to exclusions in policy terms. Buyers frequently overlook the fine print or misinterpret clauses.
'Consider your household's financial health and all your other goals.' 'Buying a house might seem like an urgent goal, but it is rarely the only one.'
Many enter this arena without a detailed understanding of how their algo works.' 'Diligently review information on the strategy, risk profile, potential losses, and expected gains before investing.'
Before heading abroad, ensure your travel insurance policy offers all essential coverage and has an adequate sum insured.
'As we navigate uncertain waters, a conservative approach to largecap investing could provide a strategic advantage.'
SBI Mutual Fund recently launched the SBI Quant Fund. Its new fund offer (NFO) opened on December 4, 2024, and will close on December 18, 2024. Currently, 11 fund houses manage quant funds with assets worth Rs 9,013.6 crore.
Business cycle funds aim to optimise returns by aligning their portfolios with different phases of the economic cycle. First-time investors, those who prefer stable sector allocations, and those averse to volatility should steer clear of them.
'If you invest in a rush at the last moment, you could compromise on selecting the best tax-saving options.'
In addition to interest rates, review the fine print for penalties and repayment terms, and select a reputable lender to avoid harsh recovery practices.
Ensure the sum insured for the super topup is enough to cover even worst-case scenarios.
Cardiac care plans are ideal for individuals with pre-existing heart conditions or a family history of heart issues. Those who can't get coverage under a comprehensive plan should opt for these plans.
'Arbitrage funds make the most sense for those in the 30 per cent tax bracket, are viable for those in the 20 per cent bracket, but less so for those in the 10 per cent bracket.'
Investors should match their investment horizon with the fund's portfolio duration.
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