Re: Not for common people
by Rythm on Feb 17, 2011 02:53 PM
You have hit the nail in terms of There are many articles giving out "How to invest/save?" But no articles giving out "How to earn".
But then pension, children's marriage/education are all important things. One can start saving when money comes in, and stop when no money comes in..
Re: Not for common people
by Amaresh Tamhankar on Feb 17, 2011 11:12 AM
May be the estimated figures given in the article are not for common people. But the option of investing in Short term bond fund is a really good option. Simple Calculation : Savings A/c balance attracts interest of 3.5% pa. whereas USTB funds will normally give a return of more than 4.00% pa. with an option of high liquidity. if you plan your funds smartly.. it's one of the best options...
It is not so difficult, if you one reduces the consumption. For example, education, children's wedding, house and retirement are necessities for which one should save.
house purchase should be done while working itself. So that by end of 15 years, one should own the house, wherever the location
The thing that remains is pension and children's education and marriage. These are not so heavy as it sounds. For example for pension one can target 1 crore. For that one needs to invest in SIP in Mutual funds. Thats all. Do not invest in "safe" funds. These are ridiculous. My personal investment (only 3500 per month) for the past three years has provided a return of 17% YoY. Yes. Start a SIP. Keep in for 20 years, and you need not worry about pension. Similarly for children's education and marriage. Its not daunting if you invest in mutual funds via SIP. But dont go in for those PPF and LIC and ULIP or something like that. They give very very low returns.
Re: Dear People
by Rythm on Feb 17, 2011 02:57 PM
Do not get sucked into any schemes by INsurance companies. Take insurance (term) if you need insurance. For savings however, do not touch insurance companies/schemes
Re: Re: Re: Dear People
by Rythm on Feb 17, 2011 02:56 PM
Go to valueresearchonline. Select the top funds only. With open ended, you can redeem your units any time after one year. With closed ended, one will have to wait for tthree years, but there's tax saving to be done. However, if no tax purpose is to be served, then go in for open ended fund.
