7 common money myths that are still doing the rounds

THE ECONOMIC TIMES Tue, Jan 22, 2019 | 06:30 AM IST ET Wealth Newsletter

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7 common money myths that are still doing the rounds Investors harbour several misconceptions about financial matters. ET Wealth unravels the truth behind them. Why you should choose your tax saving options wisely Some tax saving instruments may not be suitable for young professionals. Here's why. Submitting fake bills to lower your tax liability? Tax department has ways to catch you While submitting proof for reimbursements make sure it is real and not fake as that would get you in serious trouble with the tax department. Retirement rules are changing: We are high spenders sans inflation-linked pensions, family support When it is time to retire, we will have to use finer techniques to draw upon the corpus without depleting it. Depositing money in a bank and earning interest is not enough. Will life-saving drugs become unaffordable? DPCO amendment stokes fears India may have compromised affordability of life-saving drugs. A tale of two contempt petitions As the Serious Fraud Investigation Office gets ready to prosecute the accused in the INR5,600 crore payment crisis, a couple of developments in Mumbai courts could go some distance in untangling the mess. But it'll be a long haul. Saudi Arabia could lose monopoly over oil pricing. The US is pumping out shale oil like never before. This will reduce the oil cartel's price-fixing powers and weaken its most influential member, Saudi Arabia. In the bargain, India can cut its oil-import bill. From our Partners Have a question on P2P? Ask our experts! Peer to peer (P2P) lending platform is a marketplace that connects individuals in need for credit with individuals and institutions willing to lend. From our Partners Is Life Insurance only for the rich? With lives becoming more competitive, lifestyle patterns are changing faster than ever. 4 stocks promising fast growth due to rising free cash flows Improving free cash flows per share reflects strengthening financials and stocks of such companies promise fast growth. Money & Relationships: What to do if your adult children ask for money Should you give your kid money or simply decline? Here are six questions that will help you take a decision. Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) JM Core 11 Direct Plan-Growth -1.07 -7.05 -6.15 20.03 JM Core 11 Fund-Growth -1.25 -7.71 -7.18 18.50 Reliance Large Cap Fund Direct-Growth 0.47 4.86 -2.74 17.11 Axis Bluechip Fund Direct Plan-Growth 0.52 -3.98 6.76 16.93 ICICI Prudential Nifty Next 50 Index Direct-Growth -2.48 -0.80 -11.63 16.48 FeaturedMirae Asset India Equity Fund Regular- Growth ★★★★★ 0.43 2.31 -3.17 17.74 Start SIP Index mutual funds are doing better than others: Which type should you invest in? While ETFs will be useful for investors with existing demat and trading accounts, it makes sense for others to restrict themselves to open-ended index funds. These 6 big company stocks from small industries look promising Several big names from small industries hold a lot of promise. These companies have efficient managements, strong financials, and are trading at low valuations.

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Buy a car or subscribe to it via Zap, Revv? Here is a cost comparison Car subscription services are a new alternative to buying a vehicle. We compare the costs to determine whether the option works for you or not. All mutual fund investors need to thank John Bogle for helping them earn more: Here's why Bogle retired as a mutual fund manager a long time ago. However, the impact of his actions on the industry has been deep and lasting. How to write a one-page resume that will get you to the interview Professional resume writers, recruiters agree that whether you are a fresher or have more than 15 years of experience, a one-page resume is adequate. Here's why. Realty Hotspot Series: This Mumbai suburb is well connected to key business centres Kurla in Mumbai is a micro-market that boasts of over 20 schools, 16 hospitals, 20 restaurants, 20 banks, 20 grocery stores and 9 petrol pumps. Stock pick of the week: Why analysts are betting on Nalco despite fall in aluminium prices Low-cost production, stabilising aluminium prices, steady free cash flow, big cash pile of Rs 2,900 crore and the recent correction in the counter have made analysts bullish. Know when not to listen to your brain when investing When it comes to investments and finances, your brain can make you indulge in certain behaviors and take decisions which could be harmful. Here are all the red flags. SBI Bluechip Fund: Better downside risk protection We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision. Family finance: How salaried Jain can achieve money goals despite low surplus Avant Jain's current goals include buying a house and a car, saving for retirement and building a contingency corpus. How to close a bank account The account closure form will be available at the bank, which can seek a reason for closure of account. What is a Tax Deduction Number? Just as in case of a PAN, it is illegal to hold more than one TAN.

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