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ESTATE PLANNING: POINTS TO KEEP IN MIND WHILE MENDING A WILL

If a new will is being made, the testator must review his earlier bequests and if required, modify or retain the same in the new one so that there is no ambiguity between the two. A will is a legal declaration of the intention of a testator with respect to his property. If a person dies without making a will, he is said to have died “intestate” and in such a case, his property is inherited by his heirs in accordance with laws of succession. If the contents of the will need to be changed due to a change of circumstances, it can be done either by a codicil (addendum) to the existing will or by completely replacing the will. However, the following points should be kept in mind while changing a will. REVOCATION OF OLD WILL While making a new will or codicil, the testator should mention about earlier ... Read More
5 reasons why you should invest while you are young (start early)

5 Reasons Why You Should Invest While You Are Young (Start Early)

Investing early not only helps you plan your long term goals, but also gives you the advantage of taking more risks. Following are the 5 main reasons that will explain why you should start investing when you are young.         5 Reason Why You Should Invest While You Are Young:   Reason 1: You Can Start Small One can invest in mutual funds with as less as Rs 500 and gradually increase the amount. A small part of your salary, stipend or pocket-money will go a long way if invest in mutual funds early.   Reason 2: Improve Your Spending Habits Investing while you are young enables you to develop the habit of disciplined spending.   Reason 3: Power of Compounding Earlier you start, greater is the Power of Compounding since you stay invested for a long time.   Reason 4: Accumulate A Larger Corpus Amount When ... Read More
Making Money Is Easy, Learn To Make It Last, Money Management

MAKING MONEY IS EASY, LEARN TO MAKE IT LAST

Use Your Money Wisely If you think making money is difficult, especially in these turbulent times, wait till you try to make it last. It takes all of one’s financial acumen and enterprise to save, invest and help it grow. More so for celebs and stars, who are wont to churning out copious amounts of wealth and creating unwieldy portfolios. Handicapped by lack of financial expertise and paucity of time, they often end up entrusting their wealth to inefficient wealth managers, or worse, unscrupulous ones. At other times, boosted by success and faux confidence in their own abilities to manage money, they take wrong investing decisions. Then there’s the heady pitfall of power, which makes them believe their money will last forever. For these and several other reasons, the world touts a long list of celebrities who have acquired untold wealth, only to lose it all. Some have learnt their ... Read More
how to survive market volatility - 5 tips from experts

HOW YOU CAN SURVIVE MARKET VOLATILITY

Financial markets off late witnessed unprecedented volatility that has left many rattled. The investment landscape has become topsy-turvy. While equities have clearly been choppy, debt markets too have not been spared. As this uncertainty is not likely to go away anytime soon, how do investors take refuge to survive such volatile times? Here are few tips that you must bear in mind. Tips To Survive Market Volatility   1. Cut Down On Unnecessary Expenses & Maintain Extra Cash On Hand If you have been looking to buy that latest gizmo or that trendy expensive dress, this may not be the best time to do so. Postpone purchases of luxury/ imported items & avoid taking any loans. With the rupee weakening against the dollar & inflation spouting its ugly head, your household budget is likely to get squeezed. After paying your EMIs & living expenses, you may not have enough left. ... Read More
retirement planning - choose your metrics wisely

Retirement Planning: Choose Your Metrics Wisely

Five basics that all of us can do in embarking on a journey towards a more- secured retirement. We have met people for whom retirement is scary, an end to golden years of income, a life of uncertainty without the cushy corporate job, income, and perks. And I’ve met people for whom retirement is ‘can’t wait’, a beginning of a more flexible existence, a chance to experience everything that just passed by in the first 60 odd years.   I think that retirement is freedom to do what you want, not what you have to, and when you want, not when you need to. “Doing what you want” is easy to say, but freedom of any kind is hard work.   At our prime, we plan for all kinds of financial goals-children’s education, a home, vacations- but retirement is often the last thing on our mind. However, looking at few ... Read More