Avoiding financial mistakes early in life is crucial for building a secure financial future. By steering clear of common pitfalls, young adults can establish a solid foundation for their financial well-being. This means creating a budget to manage expenses, living within one’s means, and prioritizing savings, including emergency funds and retirement planning. Additionally, it’s essential …
The Employees’ Provident Fund Organisation (EPFO) has ordered to enhance the existing eligibility limit of 68J claims for withdrawal from ₹50,000 to ₹1 lakh now. The announcement was made via a circular issued by the EPFO on April 16. The pension fund body has also made the changes in the application software on April 10, 2024. …
The Employees’ Provident Fund Organization (EPFO) is vital in safeguarding employees’ financial futures through retirement savings promotion. Getting a grasp on the latest clarifications regarding pension rules from the EPFO can be quite beneficial. Here are some aspects that the EPFO has provided clarification on: Eligibility for pension: This might encompass criteria such as minimum …
The age of a retiree could be correlated with how much they spend — and nearly half of retirees say that they retired earlier than expected. A new piece from Go Banking Rates with statistics from the Bureau of Labor Statistics (BLS) shows a difference in the expenses of younger and older retirees and reveals …
It is particularly beneficial for those senior citizens who require a consistent income source since the loan amount is not required to be repaid until the borrower either sells their home or moves out. What is a reverse mortgage? A reverse mortgage is a loan available to homeowners aged 62 or older, allowing them to …
The National Pension System (NPS) is one of the most cost-efficient retirement planning products that comes with a prudent risk management framework and close regulatory oversight. The NPS ensures a comfortable retirement by combining market-linked returns with disciplined savings and power of compounding. With growing awareness, the NPS has attracted a lot of interest and …
Navigating the Indian financial landscape can be akin to a thrilling yet complex journey. Amid the buzz around stocks and real estate, there lies a less talked about, yet crucial, investment avenue: debt instruments. For the discerning Indian investor, understanding and leveraging these instruments can be a game-changer. Let’s delve into why incorporating debt instruments …
Gaining from the bullish momentum in the equities market over the past year, pension funds have recorded an average annual return of nearly 30 per cent from their equity investments, per the latest PFRDA data, reported Business Line . This average annual return of 29.35 per cent in equities in the first week of February is more …
ICICI Prudential Life Insurance has recently introduced a new pension product called ICICI Pru Gold Pension Savings. With the aim of helping individuals build a substantial retirement corpus, this tax efficient product allows customers to make systematic contributions. It is the first product in India to offer guaranteed capital safety, complimentary health check-ups, and the …
In the ever-evolving landscape of financial planning, cryptocurrency represents a new frontier. The digital realm has begun to reshape investment landscapes, so it’s a good time to consider the potential benefits of integrating crypto in your retirement account. Whether you’re a curious investor or a seasoned financial planner, you may know that cryptocurrency may play …