BasuNivesh Fee Only Financial Planners
@BasuNivesh
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Founder and Partner of BasuNivesh Fee-Only Financial Planners | Certified Financial Planner | Blogger ()
Bangalore
Joined May 2011
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What will happen to your PPF account once it completes 15 years?? Many are unaware (including bank staff). Hence, it is wise to understand the rules properly.
Read a thread..
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The most underrated and best movie of
@shetty_rishab
is "Sarkari Hiriya Prathamika Shaale-Kasaragodu".
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Sri Lanka's Stock Market (CSE All Shares) is currently around the 2011 year level and Pakistan's KSE 100 is now at around the 2016 year level.
How many of us are prepared for such ZERO to NEGATIVE returns for 6-11 years of investment? It may happen or may not in India. But....
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Compound effect...
If you start investing Rs.1,50,000 a year in PPF, then from 11th year onwards you will earn more interest than your yearly contribution (assumed 7.1% rate).
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A 63 years old lady purchased the traditional LIC pension plan when she was 24 Yrs. The term was 30 Yrs. The current monthly pension is Rs.1,000 which as per her 2-3 days of expenses. This is a classic example of how inflation erodes your money.
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PATIENCE..
A Chinese bamboo tree takes 5 years to grow. It doesn't break through the ground for 5 years. After 5 years, it will grow 90 feet in 5 weeks!
Equity investing is like this. If you are expecting 90 feet growth in 5 weeks, prepare yourself mentally to wait for 5 years.
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10 years back my daughter's 1st standard fee was Rs.40000. Now for her 11th standard, I have to pay around Rs.2 Lakh. Inflation of around 17%.
Now search for an asset which meets this rate OR invest more!!
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Checking your portfolio daily is like putting up a webcam in the forest to see if the trees are growing.
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Some best options are never sold by middlemen but you have to buy.
1. Term Life Insurance
2. Super Top Up Health Insurance
3. Accidental Insurance
4. Index Funds
5. Bank FDs / RDs (If your goal is less than 3 yrs).
6. PPF, VPF or SSY
7. Post Office MIS and SCSS or PMVVY
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LIC is the biggest contributor for Indian investors to generate NEGATIVE REAL RETURNS on their investments. Both seller and buyer forgot the importance of LIFE INSURANCE.
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I wrote a detailed post on this. You can refer the same also.
PPF withdrawal rules & options after 15 years maturity
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You can't destroy risk.
FD investors avoid risk of volatility but face inflation risk.
Equity investors avoid risk of inflation but face volatility risk.
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India is busy in investing Rs.1.5 lakh in PPF and Rs.1.5 lakh in SSY before the 5th of April.
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How many of you think Do Not Disturb (DND) feature of TRAI is a joke...?
@airtelindia
@reliancejio
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There is no dearth for such stories "In 1981, Rs.10000 invested in Wipro is 800 crores today". If we inflate Rs.1 Lakh @ 6%, today it is around 10 Lakh. How many have the guts to stay for 40 years in a single company? Simply share such ROSY stories to sell services or products.
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Money can't buy COMMONSENSE..
"Businessman trying to invest in cryptocurrency loses 3.5 crore in Bangalore".
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20 years back Sensex was at 3000+ level. Today at 62000+.
We don't need multibagger stocks to create wealth. We need multi decades of holdings.
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Lower the number of funds from AMC higher their integrity and trust. Parag Parikh AMC stands on top of all AMCs. Just 4 funds in offering...Requires a lot of guts to stand separately from the crowd and stick to it..
@PPFAS
@npparikh6
@RajeevThakkar
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Surprised by the way private schools charging exorbitant fees for 1st to 10th Std (Rs.50,000 to Rs.1,50,000). The fee for MBBS in Karnataka is Rs. 1.28 lakh for government seats in private colleges. Whether we are paying fees for GYAAN or SHOWOFF?
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Watch "Vadh" movie before you assume your kids are your retirement kitty. Available on Netflix.
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How to make sure that your wife will receive 100% of term insruane amount without any hurdle or legality? Don't let your spouce to face the situation like this lady facing after her husband's death.
A comment in my blog...
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A simple strategy to avoid LIC or private life insurance agents, brokers or your bank RM is by saying "I have adopted a new tax regime".
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You can have a Masters degree in making money, but you will still wind up broke if you have a PhD in spending it. - Orrin Woodward
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Many parents invest in Sukanya Samriddhi Account (SSY). However, are unaware of these five unknown facts about SSY.
Read the thread..
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Chartered Accountants (CAs) with LIC Agency are a deadly combination for their customers.
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Acquiring a depreciating assets (like car) on loan is a crime you are doing to your financial life.
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Even while choosing Liquid Funds also, you have to be cautious. All liquid funds are not safe..
Among all the Liquid Funds, the safest fund is Parag Parikh Liquid Fund with highest gilt holding (SDL+TB) of 81% and remaining 7.8% in AAA rated).
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Unsettled kids are the biggest liability in your retirement life.
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Rich men use most of their money to get richer. Poor men use most of their money to look richer. - Mokokoma Mokhonoana
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From Whatsapp university...
In the last 10 years, TEN major reasons for the degradation of the financial situation of a family:
1. Everyone in the family owns a smartphone.
2. Vacations under social pressure.
3. Buying a car & gadgets as a status symbol.
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Yesterday I had a review meeting with an old client.
2019 his net worth - 9 Cr
2024 his net worth - 28 Cr
The success of this is - Income growth, savings rate growth, his belief in what he is doing, consistency, & patience.
99% success - His above qualities
1% - Path I showed.
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44 hotels (Mutual Fund Companies) offering you 1510 dishes (Funds). As per them, all are BEST. Choose few which you can digest. Probability of being unhealthy is HIGH if you increase dishes.
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You will be asset rich and cash flow poor in your retirement when you buy a bigger house than you need for your own usage. No matter whether you stay in 1 BHK or 4 BHK, it will not create cash flow for your retirement. Create assets which can create cash flow.
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How to prepay your home loan as early as possible?
Let us try to find different ways to get rid of your home loan. Also, try to find the best strategy to prepay your home loan.
Read this thread to understand the different possibilities...
#homeloan
1/n
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All Mutual Fund investors MUST read the recent SEBI's proposal on new TER regulations for AMCs. It reveals how the MF industry works. One such horrific revelation is about switching from regular mutual funds to NFOs distributors promote to earn higher commissions in NFOs.
Thread
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What is NPS (National Pension System)?
A product that offers you a peanut kind of tax benefits when you are young and working but forces you to pay a hefty tax (on 40% of accumulated corpus) forever on annuity when you are not working and old.
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Kudos to MF industry for spreading these misconceptions.
-SIP will reduce risk.
-Direct Funds means higher returns.
-Debt Funds are safe.
-Index Funds are for low risk investors.
-Long term investing will always benefit you.
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Never restrict your spouse to be a housewife forever.
No matter whatever your earning, let she stand up on her own feet financially.
She feels confident, may learn new skills, financially independent and learn how to deal with society.
Never underestimate the power of women.
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Majority of your loans are to satisfy the SOCIETY.
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Decade ago it was - HDFC Top 200 Fund or Reliance Growth Fund.
Few years back, Mirae Asset Emerging Bluechip Fund or SBI Bluechip Fund.
Now the trend is Parag Parikh Flexi Cap Fund.
Common factor is - Chase the FOMO.
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In Nifty 50, Adani Enterprises holding is around 1.32% and Adani Ports holding is around 0.7%.
But...check which mutual funds holding these stocks at highest?
Its active funds...ENJOY!!
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The real test of equity investors patience is not when market crash and come back (like 2020), but when the market is sideways for few years with less than Bank FD rate returns.
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All are eager to retire early. But none are ready to sacrifice this month's expenses. This is the bitter truth.
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Assume you have opened PPF on the 23rd of Nov 2022. Then It will complete 15 years on 23rd Nov 2037. However, the maturity date as I mentioned above is immediately next 1st of April. Hence, it will mature on 1st April 2038.
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Forget forever the hope of increasing the Sec.80C limit.
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Ideally, PPF is not a 15 years product. But slightly higher than that. Because PPF will mature on immediately next 1st April after the completion of 15 years. Let us take an example.
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How to prepay your home loan fastly? What are the available options for us and which option is best to prepay the home loan early?
Read a complete thread...!!
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@dmuthuk
EMIs are modern slavery....Eagerness of lenders can be easily measured based on how much down payment they offer from borrowers. From around earlier 30% to now around 10% to 20%.
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Now once it completes 15 years, then you have three options.
1) Close the account.
2) Extend for another 5 years (without any fresh contribution)
3) Extend for another 5 years (with contribution)
Let us see the options one by one.
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Credit card is meant for spending but not for wealth creation.None became rich with reward points or offers.
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Whether 15-30 years back, INFLATION was not there?
It was there and in fact more than what it is today. Then why are we now crying more about inflation?
The reason is - More than income and inflation, our expenses increased drastically (Especially lifestyle).
Thread..
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1% of financial industry is your friend and 99% is your enemy. Choosing that 1% is the biggest task for YOU.
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Life Insurance policies 15-20 years lock-in fine.
NPS lock-in up to 60 years is fine.
PPF or SSY lock-in fine.
Gold and Real Estate holding for 20-25 years is fine.
BUT...equity holding for decades is WRONG. Because it's volatile and mainly because we can see volatility daily.
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Now the next move of AMCs is to launch around 1000+ various Index Funds where investor confuse himself to choose (like how insurance companies complicated a simple product called Term Life Insurance). FINANCIAL INDUSTRY KO SIMPLICITY HAJAM NAHIN HOTAA.
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Navi's 6.4% Home Loan conditions. BEWARE!
You can't uninstall the app until you repay the loan fully. Otherwise, legal action is initiated against you.
Auto-debit instruction for EMI can't be canceled/ changed during the loan tenure.
It access ur SMS, contacts, location & apps.
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Dear
@nsitharamanoffc
@FinMinIndia
,
Before integrating 1.5 lakh post offices with core banking, upgrade the staff and teach them how to behave with customers. They are still in 1947 and the majority of the staff treat us as if we are their servant and we are like beggars.
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The biggest financial asset you can GIFT to your family is FINANCIAL LITERACY.
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Educate your spouse about money matters.
Just had a conversation with lady. She got Rs.6 Cr as her husband's death claim amount from the Insurance Company. She is clueless about what to do. Anyone can cheat your spouse in your absence.
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PPF, EPF and VPF are wonderful debt products.
Guys who are following such irresponsible so- called experts must think twice before following.
By following such irresponsible guys, you are also part of his promotion and support indirectly.
Jail worthy tweets. How a potent combination of EPF and VPF does wonders to fill the debt part of your allocation is understated. Scares me when content creators just assume equity is a smooth 12 pc per annum instrument.
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Inheritance of your FINANCIAL LITERACY to your kids is far better than inheritance of your FINANCIAL ASSETS.
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People think investing for long term is too boring and irritating but are ready to work a job for decades which feels same.
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Finance Minister - Honest tax payers deserve to be recognised for paying their due share
Tax Payer - We are eagerly waiting for basics like health, education & infra since independence. Plz don't share our money to others in the form of subsidies & political games
@FinMinIndia
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The solution to 90% of financial problems is " Save more money and be more patient" - Morgan Housel
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Just because your portfolio is showing HIGH RETURNS doesn't mean your strategy is right. Just because your portfolio is showing LESS RETURNS doesn't mean your strategy is wrong.
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Be a owner not a customer..
Owning SBI Card stock is far rewarding in long term than using SBI credit card for the sake of instant reward points.
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Mutual Fund Investor in search of suitable fund for him.
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ChatGPT is now available in Microsoft Teams. It will generate automatic minutes of meetings, recommend tasks and help create meeting templates etc.
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1) Close the account -
You have to opt for this within a year from the date of completion of 15 years.
You will get the complete principal and interest (up to the last day of the month preceding the month in which the account is closed.
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As long as you are worrying about your salary to credit, you are not financially free.
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Products u have to buy/invest on ur own as finance industry hardly recommends these.
1) Term Life Insurance
2) Super Top Up Health Insurance
3) Accidental Insurance
4) Index Funds
5) Bank FDs or RDs
6) PPF, VPF and SSY
7) Post Office MIS, SCSS or PMVVY
8) Central or State bonds
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If you are helping someone during this Covid situation, for God sake, don't take selfie or do photo shoot. THOSE WHO ASKING FOR HELP ARE NOT BEGGARS. They are just in difficult situation.
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Someone asked to share my asset allocation. Hence, sharing.
1) Term Insurance - Rs.2 Cr. Not increased beyond that as I have zero loans and increasing my assets drastically.
2) Health Insurance - Rs.65 Lakh (Base+Super Top Up).
3) Emergency Fund - 24 months of my monthly expenses
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I started watching KGF 2 in Amazon. Unable to watch beyond 30 minutes. Need horrific patience to watch such mindless movies. Either film is not suitable to me or I'm not suitable to these kind of movies.
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Paytm, Zomato and Nayka are getting into Nifty Next 50. Few mocking it as disadvantage of Index investing.
They are entering after huge correction (not at listed price) and they may vanish if there is further fall.
But what about active funds who subscribed to these IPO??
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He rejected Padma Shree & never accepted a single rupee of govt fund.
He was not rich (never touched money in his life & had no pocket for his shirt).
He was never associated with any caste/group.
He was nt associated to political parties & politicians.
Last rites of true saint
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A person with 90% equity portfolio and realistic expectations may sleep calmly.
But a person with 10% equity portfolio and unrealistic expectations will never sleep calmly.
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NRI earning 10 lakh a month, EMI 6.6 lakh and household expenses 4.2 lakh is in negative cash flow. Will remain a slave of his job or profession forever.
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How much money would it make you happy?
If your answer is "More than I have now", your journey of searching for happiness is ENDLESS.
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99% of the financial products are meant for SELLERS. To be a successful investor, learn the art of saying NO to 99% and YES to 1%.
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Majority of middle class is just a hospital bill away to get into poverty.
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Net worth 10 lakh and car 1 Crore - LOOKS RICH
Net worth 1 Crore and car 10 lakh - REAL RICH.
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Many are unaware that you can withdraw the maturity proceeds in installments also (post closure). But you can’t opt for this option for more than a year.
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One of the biggest lies financial industry teach you is comparison of PPF Vs ELSS and suggesting to INVEST IN ELSS.
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No matter whether you stay in rental home, 1 BHK or 5 BHK, your residential property never fund your retirement (unless you opt for reverse mortgage). You have to create assets not commodities.
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The first medicine to protect yourself from Covid is to switch off TV.
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With all of your support and encouragement, today I completed 10 years of my blogging journey. Thanks to all.
BasuNivesh 10 Years Old!!
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Many get confused about the tax status of PPF in the new tax regime. Let me clear it.
# While investing - You will not get any tax benefits. Mainly because its benefit is under Sec.80C, which is not eligible under the new tax regime.
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99% of the financial products are meant for SELLERS but not for you. To be successful investor, learn the art of saying NO to 99% and YES to 1%.
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2) Extend without the contribution
If you do not submit the closure of the account or have not opted for an extension of the account for another 5 years, then this default option is exercised.
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Your high school level mathematics is enough to manage your whole money (whether it's Rs.1 or 1 Cr). Mathematics beyond that is POISON to wealth creation.
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How to get a house for free of cost?
There is no dearth for such SELLING stories in the MF industry...Beware...!!
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The stress now is to think beyond tax saving for instruments like PPF, EPF, SSY, SCSS, Life Insurance (Term life) and health insurance.
They are wonderful products.But sadly the major intention was tax saving...You now have to change your mindset.
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By being an employee of Infy, Wipro or Amazon kind of big companies, never be in a wrong belief that your financial life is safe. They may FIRE you whenever they feel you are LIABILITY to them.
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Choosing Index Funds (even ETF) and doing frequent buying and selling doesn't mean PASSIVE strategy. You need passive mindset too...
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Sudha Murthy saying money is immaterial is different than a person with zero bank balance saying the same.
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