Rules of financial planning have changed: Sticking to old ones could be disastrous

THE ECONOMIC TIMES Tue, Mar 19, 2019 | 06:30 AM IST ET Wealth Newsletter

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Rules of financial planning have changed: Sticking to old ones could be disastrous Changes in the financial landscape have made many time-tested tenets obsolete. Find out how this impacts your planning. Bank deposit interest rates likely to go up: What you should do now Credit growth continues to outpace deposit growth, which can push banks to offer competitive rates in the coming months to attract deposits. How to save income tax via medical expenditures under sections 80D, 80DD, 80DDB, 80U If you can't afford to pay for health insurance premium or unable to buy one due to pre-existing conditions, then also you can save tax via medical expenditures. It's time to invest in these 5 mid-cap stocks: Here's why The difference between returns of mid-cap and large-cap indices is at a historical low. This, coupled with attractive valuations and election year optimism, could fuel a mid-cap rally. Terror cover is big money for insurers Imtrip reinsures properties against acts of terror but it runs the risk of claims wiping out reserves. What makes BSE 500 & S&P 500 same, yet different? In terms of linearity, the two indices value similar sectors. However, like the economies they represent, the BSE 500 and the S&P 500 have fundamentally different characters. Going driverless in the city of cars What will the adoption of shared autonomous vehicles do to the urban fabric of much of America? From our Partners Types of travel insurance coverage in India " It's not just the cost of medical care that travel insurance covers, but all sorts of unfortunate situations like loss of baggage, flight delays and need for legal aid. Read on to know the types of coverage you should ask for." From our Partners Two things every parent should know while planning for child education Parents tend to look at short term goals and are mostly unprepared for their children's higher education. 9 point guide to review, fix your finances annually to keep your wealth growing Do not plan too many things to do and execute. Make your investment strategy a simple and easy to implement one that can work on auto pilot through the year. Your mindset defines your investing choices: Here's how How you invest and how you react when the investments do not perform according to expectations have much to do with your mindset. Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) JM Core 11 Direct Plan-Growth 9.13 5.02 9.73 23.06 JM Core 11 Fund-Growth 8.95 4.08 8.31 21.48 Reliance Large Cap Fund Direct-Growth 10.90 3.35 11.84 18.47 Axis Bluechip Fund Direct Plan-Growth 4.97 1.87 15.42 17.36 Reliance Large Cap Fund-Growth 10.82 2.83 10.69 17.19 FeaturedSBI Bluechip Direct Plan-Growth ★★★★★ 9.48 0.88 4.77 13.54 Start SIP How to get complaints resolved when insurance companies don't act Some insurers have failed to comply with ombudsman rulings. Here is how to ensure implementation. 10 ways to turn increased responsibilities at work into an opportunity for yourself Recognise that increased responsibilities early in your career accelerates your growth and achieves targets faster. Here's how.

FEATURED SLIDESHOWS

Things to know about section 80C of the Income Tax Act Want to save tax? Try these lesser-known investments, expenditures Cancelling insurance policy during free-look period Upgrade your home entertainment on a budget More Slideshows

Financial Calculators New LTCG tax calculator: Plan, compute your tax Use this tool to calculate long-term capital gains (LTCG) and the corresponding LTCG tax for listed shares and units of equity-oriented mutual funds. Tax Impact Calculator This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay.

Why SIPs can be used to invest in all asset classes The benefit of SIPs in less volatile assets such as debt and gold lies in ensuring disciplined, small-ticket investing to achieve defined goals. How to choose right insurer for life insurance and health insurance There are several other metrics apart from premium and settlement ratios, one should consider while picking the insurer. Realty hot spot series: South Mumbai offers premium residential homes South Mumbai offers high-end homes as well as key amenities like schools, hospitals and markets. How to fund child's studies? Education loan better than mortgaging house, using savings Instead of jeopardising future goals, taking an education loan is a better option. Stock pick of the week: Grasim Industries available at a huge discount Better-than-expected revenue and net profit growth, capacity additions, good performance of the parent and subsidiaries and a huge holding company discount have made Grasim analysts' top pick. MF portfolio doctor: Why Jain's ELSS investments are in loss The Portfolio Doctor assesses the health of the portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. Tax optimiser: How salaried Kamal can save Rs 40,000 tax via perks, NPS Not only should you ask your employer/company for the NPS benefit, but you should also ask for other tax-free perks like LTA, telephone bill. You can reduce your tax outgo significantly. Family finance: Self employed Godses can achieve money goals despite inadequate surplus Godses goals include building an emergency corpus, saving for their kids' education and weddings, buying a car and another house, taking a vacation, and saving for retirement. How to read NPS transaction statement The first section holds subscriber details such as personal details, contact details, nominee details and the subscriber's nodal office details. What is single premium policy? The maturity proceeds are tax-free only if the minimum sum assured throughout the policy term remains at least 10 times the single premium paid.

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