I asked Chat GPT to, “act as a financial advisor and tell me which investments are apt for me to accrue 5 crore by the time I turn 60.” The response: “As an AI language model, I cannot provide personalized financial advice without knowing your individual financial circumstances and risk profile. However…” and then [...]
In 2020, India was rated 34th out of 39 pension systems in terms of social security coverage. Despite progress, there is still a long road ahead in terms of increasing coverage under private pension arrangements and enhancing the regulatory framework to secure the financial future of more and more workers in the country. We [...]
"But you need short-term paranoia to keep you alive long enough to exploit long-term optimism." The quote suggests that having a short-term "paranoia" about money, or being cautious and mindful in managing one's finances in the present, can help ensure financial stability and security in the long run. This allows individuals to be in [...]
The Union Budget 2023 has brought some significant changes that will impact the lives of High Net Worth Individuals (HNIs). In this blog, we will take a closer look at these changes, and share our thoughts on how they could impact you. More Benefits for Higher Earners: Reduced Peak Rate Surcharge The budget has [...]
The stock market is one of the world's most volatile and unpredictable financial markets. In recent years, the equity futures and options (F&O) segment has gained significant popularity among individual traders due to its high liquidity and low entry barriers. In this segment, traders can buy or sell futures and options contracts based on [...]
As we celebrate the 74th anniversary of India's Republic Day, it's important to reflect on not just the progress and accomplishments of our nation but also on our personal life journey’s so far. Just like our country makes a gradual transition to a modern state, it's important to work on transitions in our personal [...]
When investing in mutual funds, it's important to understand the concept of exit load. This is a fee that some mutual fund companies charge investors when they redeem or sell their units within a certain period of time after the initial investment. The purpose of this fee is to discourage short-term or speculative investments [...]
Recent data on health insurance in India shows that asset sales or loans finance 47% of rural and 31% of urban India's hospitalization costs. A health insurance plan or health scheme covers at least one member of 41% of Indian households, according to the National Family Health Survey-5 (NFHS-5). These statistics highlight the importance [...]
Household savings are primarily held in fixed deposits, states the Reserve Bank of India's (RBI) annual report 2022. Fixed deposits account for 6% of gross national disposable income (GNPI), while equities account for 0.5%. However, there is a larger issue impeding wealth growth: tax inefficiency. People are so focused on tax deductions that they [...]
We all make resolutions at the beginning of the year, but they typically end up being forgotten by the time February rolls around. One reason for this is that we frequently set goals that are too ambitious to accomplish. This is especially true when it comes to financial goals and our expectations versus actions, versus [...]
