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Review your portfolio every 6 months; take corrective measures if funds underperform Premium In case your previous employers are not able to provide the UAN or the member id, you can first try to check out from your old salary slip just in case you have the same as many times the EPF number is mentioned on the salary slip Read Full Story I work in the manufacturing sector with a take-home salary of ₹65,000 and my wife is employed in the IT sector with a take-home salary of ₹60,000. We need to repay a of ₹44,000 for the next 12 years. My daughter is one-and-a-half years old. My primary aim is wealth creation for a few goals such as retirement corpus, child’s education and her wedding. ....
Retirement planning: How to calculate retirement corpus SECTIONS Share Synopsis The sooner you want to retire, the longer will be your post retirement life. As a result, on one hand, you will have to arrange a bigger retirement corpus for a longer retired life, and on the other hand you will have lesser time to save the required amount. Getty Images Saving for retirement is possibly one of the most important financial goals. This is because accumulating an adequate corpus will help one live a financially comfortable life post retirement. And knowing how much to save, will help during the pre-retirement phase, i.e., the accumulation stage. So, how does one decide how much to save for retirement? ....
Updated Feb 13, 2021 | 13:06 IST If we assume that the present interest rate of 7.1% on PPF remains constant in the long term, one can easily accumulate a hefty retirement kitty by the time of his superannuation. Here s how you can accumulate a tax-free retirement kitty of over Rs 1 crore through PPF New Delhi: Public Provident Fund (PPF) is by far one of the most popular long term debt investment products available in India. One of the biggest advantage of PPF is that it offers guaranteed tax-free return, which you can not get in other long term investment instruments like NPS, mutual fund SIP. Although life insurance products offer tax-free returns, the return is not guaranteed and is very less compared to PPF, and return from NPS is not guaranteed but it is partially tax-free. ....
While planning for retirement, most people often commit serious blunders which as a result hampers the desired objective. Here are seven mistakes that can ruin your retirement planning and goals ....
Why employees across India still prefer parking their money in the EPF Easy withdrawal, especially during emergencies, has made this old stalwart a sought-after option, to the extent that many voluntarily contribute more money to the fund (VPF). However, the NPS offers asset allocation, something the EPF doesn’t. January 22, 2021 / 06:34 PM IST Mumbai-based Malvika Chavan, 27, who worked as a guest relations executive at a hotel, lost her job last April amid the coronavirus outbreak. A couple of months on, she still hadn’t found a job and was finding it hard to make ends meet, with her savings getting depleted. Considering that she had been unemployed for 60 days, Chavan was able to dip into her Employees’ Provident Fund (EPF) kitty for funds till she found another job. ....