A busy corporate life can make you sway from planning a tension-free life after you retire from work one day. One can deal with the struggles when they are young and ready to run the extra mile. As you grow older and get into the late 40s and early 50s, the penchant for extra drive takes the backseat. And when you retire, you would likely to be away from physical and mental exhaustion. So, you need to plan early so that you can generate sufficient corpus to deal with the challenges that await after retirement. The best tool to plan your retirement is with mutual funds offered by several asset management companies (AMCs) such as Reliance. So, before you plan your retirement with Reliance Mutual Fund, it’s imperative you use the retirement calculator to know the future value of your expenses. This will help you choose the right funds.
How Does Reliance Mutual Fund Retirement Calculator Work? The calculator operates in a simple manner by estimating the value of your current expenses based on the variables you enter in the same. You can thus visit the official website of Reliance Mutual Fund and navigate to Retirement Calculator. Type in the space provided for current age, when you are planning to retire, expected inflation rate and current monthly expenses. You can take 6%-7% as the expected inflation rate while filling all other variables that are actually the case. As soon as you do so, the future value of your expenses would be shown on the screen. Afterward, you need to click on ‘Next’ to get to the other page wherein you need to enter the life expectancy after retirement and assumed return rate after retirement. This will lead to the ascertainment of the minimum retirement corpus you must generate. Click on the ‘Next’ button to enter in the space against the years left for retirement, how much lumpsum amount you can invest right now and assumed return rate during accumulation. If the lumpsum amount you enter is found sufficient to generate the corpus you seek, then there won’t be any requirement to invest on a monthly basis. If not, then the calculator would show the amount you need to invest monthly in addition to the one-time lumpsum amount. Reliance Equity Mutual Funds Perhaps the Best Way to Plan Your Retirement Given the fact that inflation is moving at the rate of knots, it would be worthwhile investing in the power of Reliance equity funds. You can thus invest in any of the following equity funds the fund house has to offer.
Reliance Tax Saver ELSS - It’s a tax-saving fund that can help you avail income tax exemptions of up to ₹1.5 lakh in a financial year. Suitable for those wanting long-term capital appreciation, the fund has delivered a return of 8.98%, 10.66% and 15.06% in 3, 5 and 10 years, respectively. You can start off with a minimum investment of 500 each by either lumpsum or SIP mode. Reliance Multicap Fund - The fund invest in stocks of companies across the market capitalization to diversify the risk pertaining to investments. It has offered a 1-year, 3-year, 5-year and 10-year return of 11.86%, 14.34%, 12.70% and 17.67%, respectively.
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Travelling can be a fun time for some and a routine activity for others. Those who are not frequent travellers want some time off their work to witness spectacular sights around the world. Such a sightseeing experience can rejuvenate their mind and body that would possibly be jaded with hectic work life. Those travelling frequently would take it as a normal affair. In both situations, you need to spend to be able to travel. If your monetary resources are such that you can travel on your own without having to apply for credit, you just need to figure out the time when you are free to do so. In case you don’t have, you can use any of personal loan or credit card to travel around. The question of which is better of the two would depend on a variety of factors such as your travel expenses and the frequency at which you roam around.
Travel Expenses You need to first calculate the expenses that are needed to be made to travel around. The expenses would incur on booking flights & hotels besides the amount you need to spend to visit the sights around the world. The amount would help you decide as to which of the personal loan or credit card would be better. Income After summing up the travel expenses, you need to see the size of your wallet. Both personal loans and credit cards are lending products that need timely repayment for healthy credit history. However, there’s a slight difference between the two. The difference is that credit cards don’t become debt if you pay off the amount due on or before the due date. Only when you pay partially or after the due date does the interest get charged. While the interest rate on a personal loan can be anywhere between 11%-25% per annum, the interest on revolving credit card dues can be 2.5%-3.5% per month. If you require a lot of money to fulfill your travel wish, you may struggle to pay off the entire due on or before the due date. In such a case, a personal loan can be better by allowing you to pay the EMIs, abbreviated form of Equated Monthly Installments, at lower rates of interest. A big travel amount can be easily met and paid via a personal loan. However, those travelling frequently would rather have to apply for a travel credit card offering them tons of reward points on their spends. The rewards you earn can be redeemed to book travel tickets and hence save your money. You can even grab discounts on staying at select hotels while also enjoying the luxuries of lounges. Students can apply for a credit card that can help reserve their seats in trains. Particularly those having to run around different venues to attend the competitive examination would find such credit cards extremely helpful. Where Should You Apply for a Personal Loan or Credit Card? While choosing a personal loan, you must compare the interest rates, loan amount and processing to be charged by different lenders. Choose a lender that can offer maximum loan at lower rates and less processing fee to make it a low-cost affair for you. When it comes to credit cards, you should compare the best travel cards around and see which has maximum offers. The card with maximum rewards, cashback, discounts would be the one where you should keep your eyes on. Home Loans are tedious loans. To service home loans, one needs to master the art of planning and management. When you’ve the burden of a home loan on your shoulder, you can’t afford to have the regular luxury life. The reason being, the Equated Monthly Installments (EMIs) compromises of a major chunk of your salary. You should know how important it is to strike a balance between savings and expenditure. You should get your priorities right and spend on those things only. Rest everything should be dedicated to pay your loan. The sooner you get rid of the burden, the better it is for you. Thus, you should know what you are getting into before hand itself. The Home Loan EMI calculator helps you do that. Let’s explore some of the benefits of the home loan EMI calculator:
1. Helps you take Informed Decisions: The EMI calculator helps you get a vivid understanding about the home loan you are going to take. It tells you about how much outflow of cash will happen from your net monthly income so that you can manage your lifestyle accordingly. Generally, EMIs subsumes 40-50% of your monthly income and leaving you with only 50% to live your life. So, the home loan EMI calculator is good in terms of planning and management. 2. Transparency: The EMI calculator draws a clear bifurcation of interest rates, monthly installments, tenure and principal amount left to pay. You will know how much interest rate you’ll be paying exactly. This is help you gain transparency and clarity. 3. Very Easy to Handle: It doesn’t involve any rocket science. It is very simple to especially designed for the usage of common man. You just have to deal with a couple of variables and you’re all set. 4. Choice of Right Tenure: Home loans are generally deals in high amount which is difficult to be paid during a short period of time. So, it is important to choose the right tenure which is not too soon also, not too long. If the loans are taken for a long tenure, then the interest you pay is humongous. With the help of home loan EMI calculator, you’ll know the right tenure to pick for repayment. 5. Loan offer comparison: Using the EMI calculator puts you in a spot where you’ve better clarity as you become aware of certain things. Now you know loan offers made by different banks. This information can be leveraged to compare loan offers basis which decisions can be made. Some of you may be wondering where and how to use this calculator. It’s extremely easy to use it, as stated above. Almost all banks are providing this service for free on their websites. Or, you can use it on the website of financial technology companies. They give you the privilege let you comparing different loans so that you don’t have to navigate to different bank websites in search of their offers. This is how you can use the home loan EMI calculator:
The goal to secure your future can take a backseat if the investments are not tax-friendly. The gross proceeds of the investment may seem very impressive. But, when the tax is applied, the returns get a lot shorter than you would expect. The attack of tax sways many away from investing. However, the market has a slew of tax-friendly products such as tax-saving mutual funds, tax saver bank fixed deposits, public provident fund, etc. These products save an income tax of up to ₹1.5 lakh in a financial year. But, which is the best tax saving investment option? Well, if you ask our opinion, the tax saving mutual funds would gain our trust and vote. The reason why Equity-linked Savings Scheme (ELSS), the tax saving mutual fund, holds aces over its competing products is elaborated below. The Utility of ELSS ELSS is an equity mutual fund product that offers the following advantages. Scope for High Returns - ELSS offers scope for a brighter future as the investments made here are diverted into the high return proposition of equities. With ELSS, double- digit returns are always a possibility. Although returns are not fixed with ELSS, investors can generate an average return of 12%-15% over the long term investing in the said scheme. Its competing products, such as tax saver FD and public provident fund (PPF), can come with a return of 7%-8% and 8%, respectively. Inflation-adjusted Returns - The word ‘inflation’ makes the returns from most investments much shorter to live through the uncertainty of life. At the face of rising expenses, traditional investments like FD and provident fund won’t prove sufficient. This is where the ELSS can be better by providing returns in line with inflation. Shorter Lock-in Period - ELSS investments come with a lock-in period of 3 years, much shorter than its competing products. While the tax-saver FD comes with a 5-year lock-in period, PPF investments will be locked for 15 years. No Investment Cap - Tax-saving products other than ELSS come with an investment cap of 1.5 lakh in a financial year. With ELSS, you don’t have any cap on the maximum investment limit. As there’s no cap, chances of you building a large corpus are much more with ELSS compared to other tax savers. ELSS Investments Come Under the Watchful Eyes of Fund Manager - The asset management company (AMC), whose ELSS you would subscribe to, has a fund manager having years of experience of portfolio management. The investments will keep getting shuffled around different securities at different proportions to diversify the invested capital. The fund manager would use the research insights and the market trends to manoeuvre the investments to earn you greater returns. Things to Keep in Mind While Investing in ELSS You can do well to keep the following things in mind while investing in ELSS. Ensure Your Risk-taking Capacity is on the Higher Side - If you get affected by the short-term market fluctuations, then ELSS is not for you as stocks can come down in value. So, you must have a bigger risk-taking appetite to be able to invest in ELSS without any worry. Long Time Horizon is Vital - You must stay invested for long if you are putting your money in ELSS. You may be tempted to withdraw your investments as soon as the lock-in period expires after 3 years. But, if you want to achieve the fruition of ELSS investments, make sure to invest longer than that. Understand the Implication of SIP and Lump Sum Investments in ELSS - Yes, the lock-in period is 3 years in case of ELSS. But the withdrawal dynamics can differ according to the mode of investment. Lump sum investments made in ELSS can be withdrawn after 3 years. In the case of SIP, the redemption would be on the basis of the time of the installment. So, if you invest 5,000 in SIP in July 2019, the same can be redeemed in July 2022 and so on. IndusInd Bank is a leading private sector bank giving you a wide range of credit cards to choose from. These cards are quite different from what we see normally. Its cards have 22 Karat gold inlay, give you infinite spending liberty, provide escort service, complimentary lounge access and several other value-added services. Besides, IndusInd Bank Credit Card also earns you the conventional rewards, discounts, etc. The reputed bank offers credit cards under Super Premium and Premium categories. In this edition, we will focus on Super Premium cards. The next edition will see elaboration on Premium cards.
List of Super Premium Credit Cards
Indulge Credit Card The card comes with a 22K gold inlay, a reflective surface and EMV Chip and PIN Card to provide an extra layer of security. You get additional spending flexibility over and above the base revolving credit limit. Relive the art in you by visiting art fairs, biennales as well as museum shows around the world. Movie lovers have a lot to cheer about this card. If you book one ticket at BookMyShow, you get another one absolutely free. You can get up to 3 free movie discounts a month. Make the most of exclusive access to some premium VISA airport lounges in India. You can get four complimentary visits a quarter to airport lounges. For any concierge assistance, you can dial 1860267777. Crest Credit Card The card comes with a slew of attractive packages be it the travel, dining, entertainment or even golf for that matter. Talking of the travel privileges, the card offers lounge access at both domestic and international airports. You can even be the beneficiary of meet and greet services of the card. There’s a discount of 15% on such services. You can get attractive discounts on dining at select outlets. The discount applies to all types of dining - buffet, lunch, dinner and even the purchase you make in a gourmet shop in a participating ITC hotel. The discount can reach a maximum of 50%. Sharpen your golf skills by attending three complimentary lessons of the game in a month. You can implement the lessons in real time by participating 3 complimentary golf games a month. The attractive 20% discount on booking events and movies at BookMyShow would make you go gaga over the card. You can get one ticket absolutely free on booking one at BookMyShow. As many as 3 free movie tickets can be handed to you in a month. Pinnacle Credit Card The Jet Airways Promotion code would help you get a full discount on the base fare as well as airline fuel charges. You also get Oberoi gift vouchers that can help get a memorable stay. Shop at international brands with Genesis luxury vouchers. You can make a style statement by redeeming Charles & Keith, Louis Phillipe, Hush Puppies, Urban Ladder vouchers. IndusInd Bank Credit Card Apply You can apply for IndusInd Bank Credit Card online or at the bank branch. If you want to apply online, you must visit the official website of the bank and submit your application by giving personal and professional details. Post the submission, the bank will appoint an executive who would come to your office or residence to pick the documents. The bank would verify the documents thoroughly and give approval only when it is satisfied with the details furnished. The branch application would require filling the application form and submitting the same along with relevant documents. Similarly to the online application, the details you furnish in the offline form would be checked thoroughly before you get the nod from the bank. IndusInd Bank Credit Card Online Payment You can make an online payment for the card using the net banking facility or even via debit card. The online payment is fast and secure. Don’t rely on conventional cash and cheque deposit options, particularly when the due date is about to expire. The payment would get credited. But there are chances of the payment getting credited late. In that case, unnecessary charges would add to the card that you see in the statement. |
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Anika Sharma
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