You have to build a retirement nest egg that can sustain your expenses through the rest of your life and your partner’s. This is a complex topic by itself, but the principles that determine the size of the corpus are your spending pattern, the rate of inflation and the manner in which you invest those savings when you retire, and the number of years that you want the corpus to last. An illustration is included here. … [Read more...] about How much money do you really need to be financially independent?
Filthy ill gotten money
Health plans usually have sub-limits for every expenditure (e.g. a limit on ambulance costs, room rent costs, etc.). Look for a policy with higher sub-limits, or preferably, no sub-limits on individual expenses. Some health plans require you to pay a specific amount in case of hospitalisation. Check this clause to understand how much you need to set aside for this. Read through the exclusions (illnesses that are not covered by the policy) to be aware of the costs of illnesses you will need to bear. Purchase a separate health plan for your elderly family members since insurance companies usually levy certain restrictions on coverage for seniors. … [Read more...] about 3 critical steps to take before you start investing
Time to Build or Time to Finance?: In April, Andreessen Horowitz (A16Z) declared: “It’s time to build.” But in January, it asserted that “every company will be a fintech company.” Which philosophy reigns supreme? It’s a laudable goal—giving employees a chance to buy a home, or offering retail investors a look at significant upside. But right now, these platforms still work best for large shareholders looking to sell and institutional investors with access to company financials willing to buy. One white-shoe secondary broker recalls a pre-IPO founder who had quietly cashed out enough of her stake to build a $15 million house, yet maintained a corporate policy denying secondary liquidity to her employees—a power imbalance that remains all too common. … [Read more...] about If entrepreneurs and VCs want to build, we first need to rebuild financial markets
National Pension System is a smart way to save money for retirement and get tax benefits at the same time. It is voluntary for individuals and the fund is managed by Pension Fund Regulatory Authority (PFRDA). … [Read more...] about NPS Tier II: Steps you need to follow to open an account online