Of tax-saving investments: here’s how to pick the right ELSS fund
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 […]
How to reactivate your lapsed PPF account — A step by step guide
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 […]
How to start investing in the stock market — A step by step guide
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 […]
Mutual Funds: How to leverage the potential of index funds in your portfolio? MintGenie explains
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 […]
Are you saving enough for retirement? How to overcome the hurdles that prevent you from investing for this crucial goal
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 […]
How to claim unclaimed deposits and investments? A step-by-step guide
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 […]
Retirement Revolution: How to use the 555 formula to retire early?
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, […]
Striking the right balance: How to navigate your financial growth amidst uncertain times?
Indian economy has been a shining star on the global stage amidst a peer group witnessing a slow to no growth rate. The World Bank, in its latest India Development Update, highlighted the Indian economy’s “resilience” despite challenges in the global environment. The economic outlook is promising on the domestic level in the coming year. […]
How to open a senior citizen savings scheme account? MintGenie explains
The arrival of the New Year signifies more than just celebrations and social events for everyone. For certain individuals, it marks the commencement of a fresh investment venture or a unique personal financial commitment aimed at ensuring their future stability. This holds particularly true for elderly individuals seeking to invest a lump sum without delving […]
New Year 2024: How to level up financial knowledge with the rule of 72?
As the new year unfolds, our aspirations centre around witnessing the growth of our finances. There’s an unparalleled satisfaction in realizing your financial objectives, particularly after dedicated periods of investment. The ongoing fluctuations in the market have spurred numerous individuals to delve into the intricacies of personal finance. Simple calculations, such as formula 72, have […]