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Everyone likes to make plans for the future. Planning ahead of time is an excellent idea for anything, from daily tasks to vacations. We even make an effort to arrange our yearly or monthly budgets. But not everyone is equally motivated to make retirement plans. A lot of us overlook the significance of retirement planning …
Although things rarely happen as planned in life, it is never a good idea to go on without knowing where you want to end up. According to a quote from Benjamin Franklin, “If you fail to plan, you’re planning to fail.” This is particularly valid when it comes to investing and saving. Usually, wealth isn’t …
A mutual fund’s systematic withdrawal plan (SWP) can provide consistent income while minimizing taxes. An SWP is the inverse of a systematic investment plan (which involves regular investments). One can take a certain amount annually from a mutual fund using an SWP. Any mutual fund scheme can have an SWP set up. However, if the …
The Indian government launched NPS Vatsalya, a new program within the National Pension System (NPS), to promote retirement savings. The NPS Vatsalya program is a big step toward protecting our youngest citizens’ financial future at a time when financial planning is more important than ever. With the help of this program, parents or guardians may …
Retirement planning for self-employed persons in India is an important but sometimes disregarded part of financial management. A recent poll found that 67% of Indians have a retirement strategy in place, up from 49% in 2020. It demonstrates how the Covid-19 outbreak has made individuals more conscious of the importance of saving actively for retirement. Self-employed …
I could notice while discussing with my friends, relatives and others that they are somewhat confused or sometimes ignorant about the NPS withdrawal rules, which is also one of the reasons why they are not investing in NPS. Hence I have jotted down the NPS withdrawal rules below, which will help you to make some …
When NPS participants retire, they are required to invest 40% of their maturity corpus in an annuity that provides a lifetime pension. For many investors, this is the deciding factor that keeps some retail investors away from the NPS. That’s because annuity rates are low, and most individuals believe they can make higher returns by investing …
Most investors, particularly salaried persons, are split on whether they should invest in mutual funds or the National Pension Scheme (NPS). People may favor pension plans because of the significant tax benefits they provide over mutual funds. The option to withdraw the 60% lump-sum amount in instalments upon retirement strengthens their argument even further. I’m assuming you know …
National Pension System (NPS) provides Systematic Lump-sum Withdrawal (SLW) to its subscribers. In this blog-post, we will see what this SLW facility is, and is it beneficial for retirees to withdraw from NPS through SLW. What is this SLW facility? As we all know, when an NPS subscriber achieves retirement or the age of 60, …
First, let us try to understand what ‘SWP’ is. SWP stands for Systematic Withdrawal Plan, which is a means of redeeming your mutual fund holdings. You provide the mutual fund (in which you have invested) a standing order to redeem a specific amount from the fund on a regular basis. The frequency is normally monthly, …