Fintellect

  Hi readers, hope our previous article on wealth management and the various strategies associated to it was genesis to your financial discipline. This week, we would like to take you through the importance of nomination in any form of investment/saving choices you make.   As of 2018, the amount of unclaimed deposits in Indian banks and insurance corporations accounts to 34,000 crores INR. And the trend continues to grow north each year. The major factor that contributes to the accumulation of unclaimed money is failure of a nomination or the nominee being unaware of such deposits or investments made.   I am sure your hard earned money does not deserve to go unclaimed and a simple act of choosing to enter a name in the nomination column would ensure that your loved ones gets the benefit of your investments/savings in the event of an unfortunate departure.   What is Nomination?   Nomination in banking/financial terms refer to the process through which a...

  While we all have a lot of hopes, dreams, and ambitions growing up, retiring on a quiet beach or in a cozy hill-station is the ultimate happy ending to whatever your life story has been up until now. Unlike in most fairy tales and movies where people grow old and automatically live happily ever after, retirement in real life takes proper planning and a lot of discipline. Retirement Planning Keeping in mind the fact that India has no social security schemes or any other kind of government-sponsored elderly care, you’re basically left with three to four choices at best. While option one is to plan and invest for your retirement right now , the alternatives range from compulsory work post the age of 60 , depending on your daughter or son, and in extreme circumstances, even living on charity . While the obvious choice here is option one, we have to factor in a number of elements such as your present age, no of years to retire, present income, expenses, and more.  Other variable...

Have you ever wondered what would be the best way to build up a solid wealth management portfolio. Then reading further might be your first step towards making it a reality. When it comes to wealth management, it's hard to overlook the importance of a solid foundation.  If you are planning to raise a multistoried structure that you want to outlive a few generations, then you need to ensure that the foundation on which you build your dreams is strong enough to shoulder your empire against all unexpected calamities. Building our wealth management portfolio is no different than this. It should be able to withstand the economic uncertainties influenced by the volatility in domestic & international stock market, global economic slowdown & recession. Now that we know the importance of a strong foundation for a long-standing wealth portfolio, you have already started to wonder how to achieve it. So, what is the best investment plan? Unfortunately, there is no one stop solution...

  The current situation in the world has got a lot of people looking back and wishing they had saved some money for a rainy day because it’s been a pretty rainy year so far. The ability or the inclination towards saving money isn’t really a quality associated with the current generation of “millennials” who could learn a thing or two from generation X in this regard. Now, this isn’t a post about mutual funds, or stocks, or foreign exchange, but rather about the first, most basic, risk-free, baby-step that you can take right now. If you’ve ever worked a nine to five, you probably already know what a provident fund or PF is. You suffer a little deduction in your salary every month in order to ensure you get a decent chunk of cash when you decide to quit or retire. The public provident fund is similar in the sense that it’s guaranteed by the central government and there’s no way you can lose money on it. The similarities end there, however, as anyone can open a PPF account and you...