Money

Buying health insurance is an important decision because this insurance serves you for life. Photo: HT
Buying health insurance is an important decision because this insurance serves you for life. Photo: HT

A-rated health plans for you

If you settle for a plan your agent sells or are happy knowing that you have bought the cheapest one, there is a bit of unlearning and a lot of learning in store for you

It requires the government to limit the fiscal deficit to 3% of the GDP by 31 March 2021
Photo: iStock (Photo: iStock)
The current slowdown and the unrest seem to be symptoms of the need to rethink and re-imagine the rule book one more time. (Pradeep Gaur/Mint)
The current slowdown and the unrest seem to be symptoms of the need to rethink and re-imagine the rule book one more time. (Pradeep Gaur/Mint)

Do student protests precede big reforms?

The gains of the 1991 reforms have reached their limit and India now needs a new playbook for the next level of growth

You can mark your date of exit on the EPFO portal after two months of leaving a job. (iStock)
If coming out debt-free is your goal, the first step is to try and keep away from credit cards and personal loans
A recession may be V-shaped where the economy sees a sharp decline followed by a strong recovery. (Bloomberg)
A recession may be V-shaped where the economy sees a sharp decline followed by a strong recovery. (Bloomberg)

When is an economy in recession and what is stagflation?

  • A recession may be the outcome of tight monetary and fiscal policies aimed at controlling inflation
  • Stagflation is another fear that comes up when inflation is high in a period of slow economic growth

This service allows the bank customers to withdraw cash from any ICICI Bank ATM without a debit card 24X7. (Reuters)
Photo: Reuters (Reuters)
Photo: Reuters (Reuters)

How much return are your assets yielding?

  • Too much equity may expose you to undue risk, while being too conservative and investing only in, say, FDs can mean that you are not able to build the corpus that you need
  • One must also keep in mind the volatility risk of the asset class, liquidity, lock-in rules and taxation

Photo: iStock
Photo: iStock
Your mindset has a huge bearing on your finances. (iStock)
The annual savings rate also needs to increase every year to achieve the targeted retirement corpus. (Photo: iStock)
UPI transactions: An individual can use multiple bank accounts on a single app. (Pradeep Gaur/Mint)
Hackers have devised unique ways to bypass PIN and OTPs on both debit and credit cards. (iStock)
from left) Saurav Basu of Tata Capital, Varun Girilal of Mitraz Investment Advisors, Joseph Thomas of Emkay Wealth Management and Rahul Jain of Edelweiss Personal Wealth Advisory
from left) Saurav Basu of Tata Capital, Varun Girilal of Mitraz Investment Advisors, Joseph Thomas of Emkay Wealth Management and Rahul Jain of Edelweiss Personal Wealth Advisory

Should you invest in NPS just to get additional tax benefit?

Should you restrict yourself to investing only 50,000 to avail of the exclusive deduction or invest more than what offers you a tax benefit under any Section? Ashwini Kumar Sharma asks experts if NPS is an attractive retirement tool

Photo: iStock
Photo: iStock

Don’t borrow to invest in tax-saving products

  • If you didn’t have the financial discipline to put aside some money all year long for saving tax, it is unlikely that you’ll have it now to pay the loan EMIs
  • You may liquidate an FD meant for your retirement, if that goal is far for you, and redeploy the money in ELSS

Photo: iStock
Photo: iStock
EPF, child’s tuition fees and home loan EMIs may be enough to exhaust the 80C limit when you’re in your 40s or 50s (Photo: iStock)
EPF, child’s tuition fees and home loan EMIs may be enough to exhaust the 80C limit when you’re in your 40s or 50s (Photo: iStock)

A guide to strategies for tax-saving investments across three life stages

  • Your tax-saving investments should be in sync with your financial plan. We tell you what to keep in mind and what to watch out for when investing
  • Since you need regular income after retirement, avoid investing in illiquid instruments at this stage