FinVise India

In India, ‘financial planning’ is a new and emerging concept in the field of financial services. Most of us want to improve our personal finances but we feel that going to a financial planner is a waste of time. Many people also misinterpret the term ‘financial planning’. According to them, financial planning means just saving money in FDs and other financial instruments. However, these all are myths about financial planning which we need to break and free our minds. Let us understand the common misconceptions which many people have about financial planning. Myth No.1: I am busy, no time for financial planning Yes, all of us are busy. We are busy at work, at home, shopping, etc. We constantly delay our decision to check our portfolio, as a result, we never understand why financial planning is necessary. However, it is high time and we need to think seriously about our savings and investments. Since it is our hard money, and we need to educate ourselves where to invest and w...

To know more about Investments, Tax Planning, Mutual Funds, Financial Planning & Personal Finance, Succession Planning contact us: Phone No. 9582250638 Email Id: contact@finviseindia.com Visit our website:  www.fvindia.com ,  www.finviseindia.com

One of the most common mistakes that people make when it comes to health insurance is depending on that one policy offered by the employer. It is important to understand that medical costs are skyrocketing and porting from a corporate health plan to a personal cover is quite cumbersome. But with a higher cover, comes higher premiums and not everyone may be able to afford it. "The smart way to go about increasing your cover is by understanding your needs and what your policy covers. Avoid any add-ons that you may not need," said Amit Chhabra, head- health insurance, Policybazaar.com. So here are some ways by which you can boost your health cover without paying a bomb. FLOATER PLANS A family floater policy provides health insurance to the entire family unit in a single policy. In some cases, this policy can also include family members beyond the nuclear family of parents and young children, like grandparents. Such a policy comes with a list of benefits and exclusions but consi...

There are two things that can make your retirement less than ideal? Inflation and increasing life expectancy. The combination of these two factors means that if you do not save enough, then your retirement days can be stressful. Due to this reason, the government of India has made retirement savings options available to us. It wants citizens to build a retirement corpus by saving from their own income, especially those individuals who are not covered under government-aided social security schemes. In fact, retirement savings products come with several tax benefits so that more and more people are encouraged to buy them. There are essentially two products meant for retirement savings:  1. Public Provident Fund 2. National Pension System  Both are covered under Section 80C of the income tax act which means you can claim tax deductions up to Rs 1.5 lakh by investing in any of the products. In this blog, we have drawn a comparison between the N...