Posts in category "financial-planning" - page 13
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Record Your Expenses
In my previous posts, you have seen my monthly and annual budgets. Now it is time I explained how I actually track and record my expenses, so I know how I am performing compared to the budgeted numbers.
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My Annual Expenses Explained
In my last post, I went over my monthly expenses. In this post I will go over my annual expenses so you too can plan your annual expenses along those lines. For the year 2018, I budgeted an annual expense of Rs. 3,60,000. That comes out to Rs. 30,000 per month. Annual expenses are those expenses that occur less frequently than a year. So things like property tax, buying a car, painting your house etc will come under annual expenses. My annual expenses planning is shown below.
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My Monthly Expenses Explained
In one of my previous posts, I briefly mentioned that I planned my monthly expenses to be around Rs. 50,000 per month. In this post, I want to explain a bit more on how I arrived at those numbers. May be it will help you figure out your own expenses in your retirement.
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Health Insurance
Like life insurance, everyone needs a health insurance too. It is especially important to start one when you are young, so you can lock into lower premiums. However unlike life insurance, health insurance is useful both pre and post retirement. If you have not yet retired, the risk of not having a health insurance is that, in case of an emergency, your investments and savings will take a hit and will delay your retirement. If you are already retired, your corpus will take a substantial hit and will reduce your income stream.
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Life Insurance
Everybody needs a life insurance to protect their loved ones from financial hardships in the event that your time on the planet has unexpectedly come to an end. So I wanted to write a post about life insurance. The recommendations made in this post are for people who are planning early retirement. For others, it may not work. You requirements of life insurance will be different pre and post retirement.
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How to Choose a Financial Planner
If planning your finances in minute detail and researching investments that fit your goals and risk appetite is not your cup of tea, then it is better to hire a financial planner who will do the work for you. But how does one find a good adviser? What attributes make up a good financial planner? Here are some tips to help you get started.
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Invest Across Market-caps for Better Returns
If you want better returns for your investments, choose to invest across market caps. Generally, choosing 2-3 good multi-cap funds is sufficient for most investors. However, if you want to be a bit more aggressive with your investments, add some small-cap and mid-cap funds. But how much? That is the question I will try to answer in today's post.
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How to Choose a Mutual Fund
We've all heard it -- don't choose a mutual fund just based on past performance or star rating. Then, how does one go about choosing a good fund? That is the question I want to answer today. While I am not expert at picking a good mutual fund, I did have my share of bad pickings and hence have had some wisdom knocked into me. So here are some tips on how to choose a good mutual fund based on my experience.
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Are Index Funds Better Than Active Funds?
In the US, index investing is all the rage. John Bogle who started the first index fund, contends that an index fund beats almost all actively managed mutual funds (after accounting for fees) in the long run. But does it work in India? That was the experiment I set out to conduct in early 2012.
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The Gilt Experiment
You've probably heard about the inverse relationship between bond prices and interest rates. When interest rates rise, bond prices fall and vice-versa. How can we use this information to make some money without a lot of volatility? Read along about my experiment with interest rate cycles.
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