In simpler terms, pig butchering is a version of smishing where scammers use social media platforms for cyber theft. As the name suggests, the victim is being ‘fattened up’ through validation and friendship before ‘butchering’ i.e. stealing of funds. A simple ‘Hi/Hello’ on a social media platform from a stranger’s profile can turn into a … Read more
The Employees’ Provident Fund (EPF) stands as an excellent avenue for retirement savings in India. It promotes consistent savings by involving contributions from both employees and employers. The automatic deduction from your salary for EPF renders it an exceedingly convenient method for retirement savings. Below is an outline of the contribution framework: Employee’s contribution: Typically, … Read more
This season marks the period when employers are actively evaluating their employees’ performance before determining their respective appraisals. The appraisal review often results in a salary increase for many, creating opportunities for financial growth. Achieving a salary increase is a significant milestone, but it’s crucial to employ a strategic approach in utilizing those extra funds. … Read more
Tax-saving investments are an essential part of financial planning, and equity linked saving schemes (ELSS) have gained popularity for their dual benefit of tax savings and potential wealth creation through equity investments. However, picking the right ELSS fund is not that straightforward, given wide range of options available, across different fund houses. Here is a … Read more
The Public Provident Fund (PPF) stands as an excellent investment choice for numerous individuals in India. It presents appealing features, such as a 15-year investment duration, tax advantages on investments, interest earnings, maturity proceeds, and a decent interest rate of 7.1%. An annual investment in the PPF can range from a minimum of ₹500 to … Read more
The investment process is now notably more convenient and accessible than in the past, courtesy of diverse digital platforms that have streamlined the overall investing experience. Below are the steps you should follow to effortlessly purchase stocks from the convenience of your home: Open a demat account Initially, select a Depository Participant, which serves as … Read more
The dynamics of index funds have changed significantly in the last few years in India. With the proliferation of awareness initiatives and the introduction of innovative benchmark schemes by mutual fund houses, investors are exploring this universe with active interest. Simply put, index funds replicate a stock market index in terms of a portfolio. For … Read more
Can you save more than you earn every month? That’s what Shriya Nagarajan must do if she wants to quit working at 50 and maintain her current lifestyle in retirement. The 25-year-old needs a corpus of Rs.10.5 crore to sustain inflation-adjusted withdrawals till the age of 85. To build this enormous nest egg, Nagarajan needs … Read more
The shares, dividends, and debentures that have remained unclaimed for seven years or more get transferred to the Investor Education and Protection Fund (IEPF), a repository set up under the Companies Act of 1956. Deposits and interest left unclaimed for over 10 years in inactive bank accounts are transferred to the RBI Depositor Education Awareness … Read more
The onset of the new year prompts a sensible commitment to dedicating daily hours to enhance one’s understanding of personal finance. Our journey begins with an exploration of the rule of 72, paving the way for investors to delve into aligning their investment strategies with retirement planning. Recognizing that not everyone aspires to work indefinitely, … Read more