Tue, Nov 19, 2024
SIPs enable investors to acquire units at a reduced average cost per unit. When the market rises, investors buy fewer units; when it falls, they buy more. Compounding increases your investment returns over time and promotes faster development. It generates larger profits and promotes investment growth over time. The initial deposits compound over time to form a considerable corpus.
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Retirement Planning: Whether you're a salaried employee, a small business owner, or an individual, planning for retirement is essential. There are numerous options available for building a strong retirement corpus, and one highly effective strategy is investing in mutual fund SIPs. If you want to build a retirement corpus of Rs 8 crore with Rs 25,000 monthly SIP, then you have to plan and invest strategically. Know how:
Having a retirement corpus provides a sense of financial security during the post-employment years. By planning a retirement, individuals can reduce the risk of becoming dependent on others for financial support. Starting early is the key strategy that might help you reach your goal of building a satisfactory retirement corpus. Here, we will discuss how a monthly savings of Rs 8,000 can help an individual build Rs 4 crore corpus.
Wed, Oct 02, 2024
EPF vs PPF Retirement Corpus Calculator: Employees' Provident Fund Organisation (EPFO) runs the EPF retirement scheme for private sector employees. Employees with at least Rs 15,000 monthly basic salary are eligible to make a monthly contribution to their EPF account. Public Provident Fund (PPF) is a scheme run by Post Office and banks. The current interest rate in the scheme is 7.1 per cent compounded yearly.
Retirement Corpus Planning: When we think about retirement planning, the biggest mental block that we feel is that we don't save enough to invest. But here two factors are important: we need to invest first and save the rest to run our monthly expenses; secondly, no investment is small if you do it consistently for a long time.
Top 6 NPS Mutual Funds With Best SIP Returns in 10 Years: Since the Nifty 50 has been on a roll for over a year, all NPS Tier I mutual funds have given over 34 per cent annualised return in 1 year. If we talk about the long term, even the lowest-performing fund (LIC Pension Fund) has given 13.20 per cent annualised return (CAGR), while the top performer (UTI Pension Fund) has given 14.50 per cent annualised return in the 10-year period.
Tue, Oct 01, 2024
SBI Green Deposit Special FD: Special fixed deposit (FD) schemes are limited-duration schemes that provide higher interest rates than a bank's other FDs. The duration is not for 1, 2, 3, 4, or 5 years. It can be 400 days, 444 days, or any figure that is not calculated in terms of years. SBI's Green Deposit is one such special FD, which offers 1111-, 1777-, and 2222-day schemes.
NPS Annuity Calculator: At 60 years of age, NPS subscribers get the option to withdraw their retirement corpus and also purchase an annuity plan. However, they can withdraw only up to 60 per cent of their corpus. From the rest of the 40 per cent amount, they need to purchase an annuity plan. The return from annuity investment helps them get a monthly pension.
As we celebrate NPS Diwas today (October 1) to promote retirement planning, the initiative emphasizes the importance of securing one’s financial future through informed investment decisions.
Gratuity Calculator: Public and private sector employees who have completed 5 years of service are eligible to get gratuity from their employer. The gratuity amount of an employee is calculated on the basis of their last-drawn basic salary and the years of service.
Sat, Sep 28, 2024
NPS Vatsalya Calculator: Parents/uardians can open minos/children's NPS Vatsalya account. They can contribute till the child turns 18, then NPS Vatsalya account will be converted into a normal NPS account. Corpus up to 20 per cent can also be withdrawn at 18.
Fri, Sep 27, 2024
Retirement Planning: Investment through a Systematic Investment Plan (SIP) in mutual funds can be used to get steady returns and build a large corpus in the long run. A Systematic Withdrawal Plan (SWP) is a way to withdraw that money in phases while also getting growth on that investment.
Thu, Sep 26, 2024
Top 10 NPS SIP Mutual Funds in 1 Year: Starting from 18 years of age, they can invest up to 75 years of age. At 60 years of age, they get the option to withdraw up to 60 per cent of the lump sum amount. They need to purchase annuity from the rest of the 40 per cent amount, which provides them monthly pension.
Wed, Sep 25, 2024
NPS Vatsalya Calculator: In NPS Vatsalya scheme, parents/guardians of minors 0-18 years of age can invest. The account is opened in the name of the minor and they also get the Permanent Retirement Account Number (PRAN).
Power of Rs 1,000 SIP: Monthly SIP investment value as low as Rs 1,000 can do wonders if is made for long term. In some mutual fund schemes, a Rs 1,000 monthly SIP has grown to up to Rs 2.30 crore.
Tue, Sep 24, 2024
Gratuity Calculator: A public or private sector employee with at least 5 years of service becomes eligible to get gratuity. For gratuity calculation, the last drawn basic salary of an employee and the years of service are taken into account.
National Pension System (NPS) Annuity Calculator: NPS is a retirement scheme, where one can invest from ages 18 to 75. At 60 years, NPS account holders get the option to withdraw up to 60 per cent lump and they need to purchase annuity from the rest of the 40 per cent amount.
Mon, Sep 23, 2024
NPS Vatsalya Retirement Planning: A parent or a guardian can open a minor's NPS Vatsalya account. The account will be opened in the name of the minor, but it will be operated by the parent/guardian. While the Permanent Retirement Account Number (PRAN) will be in the minor's name, they will also be the sole beneficiary of the scheme.
EPF Calculator: Employees' Provident Fund (EPF) is a retirement scheme for private sector employees where they can generate corpus and also get monthly pension post retirement. The employer and the employee make monthly contribution to the former's EPF account.
Fri, Sep 20, 2024
NPS Monthly Pension: Retirement planning is important for everyone since one needs a regular income source to meet their daily expenses. There are many retirement, senior citizen, and annuity schemes that provide monthly, quarterly, half yearly, or yearly income.
Top 7 SWP Mutual Funds in 10 Years: In a SWP, an investor invests a lump sum amount in a mutual fund scheme and tells the mutual fund house to provide monthly income from this investment. The fund house sells net asset value (NAV) units of to provide a fixed amount every month.
Retirement Planning: Systematic Investment Plan (SIP) can be used to generate a retirement corpus in the long run. Once the financial goal is achieved, the investor can start a systematic withdrawal plan (SWP) to get monthly income for years.
SBI Senior Citizen Latest FD Rates: Senior citizens invest in fixed deposit (FD) schemes as it gives them regular income post retirement. Banks, including State Bank of India (SBI), provide higher interest rates to senior citizens compared to general citizens in FDs. SBI runs Amrit Kalash special scheme, 1-year, 3-year, and 5-year FDs. If senior citizens invest in the 5-year FD, they get tax benefits under Section 80C of the Income Tax Act, 1961.
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