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Power of Compounding: Planning for retirement amid rising inflation and the escalating cost of living can be challenging. However, leveraging the power of compounding through a Systematic Investment Plan (SIP) can transform a modest monthly investment into a substantial retirement corpus. By starting a monthly SIP of Rs 5,000 at age 25, you could potentially…
The Union Cabinet approved health coverage for all citizens aged 70 years and above under the government’s Ayushman Bharat Pradhan Mantri Jan Arogya scheme, Information and Broadcasting Minister Ashwini Vaishnaw announced on Wednesday. Every citizen over 70 years of age will receive health coverage of up to Rs 5 lakh, applicable to all segments of society, the minister…
In a bid to bolster women’s financial empowerment, the Indian government has introduced a kind of scheme tailored specifically for women in many states. Among these, the Mahila Samman Savings Certificate (MSSC) stands out led by Finance Minister Nirmala Sitharaman in last year’s budget, this initiative offers a 7.5 per cent interest rate on a two-year…
Power of Compounding: Planning for retirement can feel daunting with rising inflation and the increasing cost of living. However, by leveraging the power of compounding through a Systematic Investment Plan (SIP), one can potentially turn a modest monthly investment into a substantial retirement corpus. If you begin investing Rs 8,000 each month in an SIP…
SIP’s 5 Key Features: Investing through mutual funds is becoming increasingly popular, and a large portion of this investment is done via Systematic Investment Plans (SIPs). In July alone, SIPs saw record inflows of over Rs 23,000 crore. Experts attribute this growth to several factors, such as ease of investment, starting with small amounts, and…
Credit Card Bill: Credit cards have become a necessity for many people these days. Even if you don’t have cash on hand, you can easily shop with a credit card, often enjoying better discounts in the process. However, every purchase made on a credit card is essentially a loan that must be repaid within the…
India’s largest retail health insurer, Star Health and Allied Insurance (Star Health Insurance), on Thursday (September 5, 2024) launched the ‘industry-first’ insurance policy in Braille. The policy offers comprehensive protection tailored for individuals with 40 per cent or more disability, says the company in a statement on Thursday. “Reinforcing Star Health Insurance’s commitment to inclusivity…
Power of Rs 1000 monthly SIP: Planning for a secure and comfortable retirement can seem daunting, especially when considering inflation and the rising cost of living. However, what if you could build a substantial retirement corpus with just a small monthly commitment? Imagine transforming a modest Rs 1000 monthly investment into a fortune of Rs…
Retirement Planning: What can be the sources of income when you grow old. It can be the retirement corpus from schemes such as Employees’ Provident Fund (EPF) and National Pension System (NPS), it can be the rental income, or it can be return from long-term investment schemes such as fixed deposit (FD), National Savings Certificate…
Retirement Planning: The central government recently came up with the announcement of the Unified Pension Scheme (UPS). Before this, the key pension schemes in India were the Old Pension Scheme (OPS) and the National Pension Scheme (NPS). The OPS was launched in 1924. When India became independent in 1947, the OPS continued. In 1998, the…