Archive for the ‘Financial planning’ Category
What the IPL taught us about investing
June 12th, 2009
Mukesh Dedhia
Cricket is often a great metaphor for life. And we like this newest format of the game, T20, because it can teach us a lot about how to manage our investments. Here are 10 things we have learned from the IPL about investing.
1) Start early: T20 does not reward late starters - teams must start putting runs early in their innings. Otherwise, it can get too late and the batsmen are always playing catch up. Similarly, we must also start investing and saving early.
This allows us to benefit from compounding of capital, as well as allows us to “keep the scoreboard ticking” in order to move closer to our goals. Additionally, we have seen how batting sides take advantage of fielding restrictions early in the innings.
Similarly, early in our innings during our youth we must also take advantage of the freedom to do things that we might not be able to later in life. One of these freedoms is to start building our financial resources when we have very few other financial obligations
What you need to know about taxes, gifts and love?
June 11th, 2009
Mukesh Dedhia
We can’t tell you much about love, but we can surely tell you about taxes and gifts to your loved ones.
What are the tax benefits for a gift to a spouse or fiancé?
If you make a gift in kind or cash to your spouse then it is not taxable in their hands. However, any income generated by the gift in kind or cash shall be treated as your income.
What if you give a gift to your fiancé? The good news is that if you make a gift in kind to your fiancé, then there is no tax implication. However, if you make a cash gift then restrict your gift to Rs.50,000. If the amount exceeds this limit, then the entire amount shall be added to the income of your fiancé.
Rising life expectancy to help lower insurance premium
June 9th, 2009
Mukesh Dedhia
Life insurance premium rates are likely to drop over the next few months owing to longer life expectancy, with a new mortality and morbidity table expected to be in place by the fourth quarter of 2009 to replace the current one, which is of 1994-96 vintage.
The new rates will include the claim experience of individual companies and will be based on 2006-08 data.
Birth of a child-How should your financial planning change?
June 2nd, 2009
Mukesh DedhiaThe addition of a son or a daughter to your family is an occasion of tremendous joy. As the father or the mother of the kid, you would be overwhelmed with happiness.
But at the same time, you also know that a child brings on to you enormous additional financial responsibility.
So what are the things that you should do to secure your child’s financial future?
How To Make Your First $1 Million
May 6th, 2009
Mukesh DedhiaCheck out this link on how to make your first $1 million. Quite knowledgable.
http://www.investopedia.com/slide-show/millionaire-mindset/?partner=wbw5
Retirement pe bhi SAR UTHAKE JIO!!!!!!!
February 12th, 2009
Mukesh DedhiaRetirement is one of the most important life events many of us will ever experience. From both a personal and financial perspective, realizing a comfortable retirement is an incredibly extensive process that takes sensible planning and years of persistence. Even once it is reached; managing your retirement is an ongoing responsibility that carries well into one’s golden years.