Unlock India

31/03/2019

26/04/2017

Are You Ready to Retire Wealthy?

Does retirement from job also means retirement from earning? Well, if you don't make the right plans today, then your retirement may mark the ending to your earning as well. This calls for the immediate need of understanding how you can make yourself financially ready for your retirement.

Whether you are 25, 30, 40 or 50 years old, you know that sooner or later, retirement from a job is certain to be on your platter. That is why, when you are busy planning your life, retirement plan should be the first in your to-do list and you must not procrastinate it.

You should feel more motivated to think seriously about your post-retirement financial security after witnessing the following data inputs from a UN report.

The Usual Life Cycle

Before we talk about retirement, let us imagine a simple and usual life of a person.

How Much Money Will You Need After Retirement?

Let us assume that post your retirement, you are back to being yourself and your spouse as it was when you were 30 years old. Assuming, your kids are now financially independent.

Now let's do an assumptive calculation

So, at the age of 60, your actual cost of expenses as on today will be 2,29,740 INR per month instead of 40,000 INR per month.

Now, if you calculate your retirement corpus for 20 years (i.e from the age 60 to age 80), it will be approximately 4.6 Crores INR, considering 8% post-retirement returns on your investment.

So, have you planned how will you retire with Rs.4.6 Crores ?

5 Ways of Retiring Rich

The good thing is you can retire as a really wealthy person. Awareness is the key secret to this. Once you receive proper consultancy or advice on retirement solutions, you will have the clear path of what you should be doing to have a dream retirement.

1. Fix the Goal for Your Retirement Corpus: Before you start investing for your retirement, you must fix the goal amount for your retirement corpus. Based on your expense habits, earning capacity, expected income growth, inflation rate, the return rate on investments, future needs and future liabilities, you must decide the rough amount for your retirement corpus.

Let us consider the aforementioned assumptive calculation, and set your targeted retirement corpus as 4.6 crores. Next, you need to work towards achieving it.

2. Start Saving Early Through SIP: This is the best advice that anyone can give you. The advantage of saving early is that you get more years to benefit from the power of compounding and secondly, you can accumulate sufficient corpus even by investing in small amounts.

Systematic Investment Plan (SIP) is a route to invest in mutual fund. Through SIP, you can maintain a disciplined approach towards investment. It lets you invest small amounts in mutual fund and get the advantage of 'Rupee Cost Averaging.'

Let's see if SIP can help you in achieving your retirement corpus of 4.6 Crore.


Calculated: Investing 6,600 INR per month approx from the age of 30 will create your retirement corpus of 4.6 Crores INR

SIP is a concept and not a name of any scheme. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully before investing.

3. Stay Informed About Investment Plans: The market has various retirement plans that can provide you a systematic way of investment and wealth creation. You need to get a proper insight into these plans and based on your retirement goals and savings capacity, you must start investing in these plans. It will ensure the achieving of the desired retirement corpus and will also help you in your current tax savings.

4. Do Proper Tax Savings: If you earn good but spend all, then one way you are not saving anything for your future and also, you are paying extra from your income through tax deductions. Thus, it is important to make investments in a way that can minimize your tax deductions.

5. Asset Allocation: Each of your investment is an asset. As you know, certain investments are subject to market risk but offer good returns like Mutual funds and some are not risky such as PPF, but offers fewer returns. Thus, asset allocation let you properly diversify your investments (assets) so that you can have a balance of risks versus rewards. Asset allocation is an important factor in determining your returns from different investments.

Retirement can be your golden time. It can be the time when you are done with all your responsibilities and all free to invest the time on yourself. You can go for vacations, make more family visits, work for some social cause, and all that you desire. But you will need lots of money to do all these. So, owning money will be equally important when you will be 60 as it is today, but at 60 you won't have your job the way you have it today. Therefore, without delay start your financial planning for retiring rich.

25/04/2017

Managing Debt Add a Value To Your Financial Plan

Living one’s life on debt or on EMI’s is fast becoming the way of life. The use of credit card and personal loans to meet day-to-day expenses is gaining strength. The festival season is near. Offers and lucrative offers start flowing from the Independence Day in India. While one earns to spend and live a life full of choices, care should be taken not to overspend. The over-indulgence on shopping is sometimes at the cost of hampering the monthly budget. Over dependence on a credit card it seems is becoming a fad all in the name of easy money.

Shop till you drop, but do not shop on credit! Spend on what is essential and not on impulse. An average Indian is perhaps not following all this. No doubt the debt of an average Indian especially of credit card holders is showing an alarming rise. Recent RBI data shows credit card outstanding amount of Rs 42,100 crore at the end of May as against Rs 27,000 crore during the 2008 crisis period. The situation is grimmer because the interest on credit card outstanding ranges between 36-48 percent a year. Certainly, a high price to pay for lifestyle shopping!

In May 2016, a total number of credit cards stood at 2.50 crore, up from 1.75 crores in August 2011, but still behind the all-time high of 2.67 crores in July 2008. The usage is increasing both for online and offline transactions.

For an investor, paying interest on credit card dues is all the more damaging. Imagine your mutual fund investments earn a return of 12-15 percent for you per annum and the credit card issuer charges you double than that for not paying dues on time. Your investments are not helping you reach your goals properly.

Debt and financial planning
Debt is what we owe (to a person or an institution) and comes at a cost in the form of interest payments on loans. Financial planning is not only about savings but also about organizing your finances. Both investments and debt play a role in building up a net worth.
Therefore, debt has an important role in the financial planning of an individual. If an investor manages to generate a return of say 12 per cent an annum from one’s investment portfolio but pays a similar percentage as interest towards a loan, the net effect is not helping him to create wealth. The first thing investors need to do is to get rid of any debt, which eventually eats into one’s returns. Loans such as personal loans, credit card, home loans, car loans etc are forms of debt.

Managing EMI’s
Living a life on EMI’s to fund car purchases, home buying, and eating out and on other lifestyle, expenses need control and proper management. As a thumb rule, do not exceed EMI’s amount to more than 50 percent of one’s monthly take-home pay. Home loan lenders, therefore, take into account to arrive at the amount of loan that can be sanctioned and typically lend such that EMI remains around 45 percent of monthly income.

Perils of debt
Credit card and personal loan are unsecured loans and therefore carry a high-interest rate than other kinds of debt. The interest rate on personal loan is currently in the range of 13-18 percent or even higher in some cases. The interest rate one pays on credit card outstanding balance (after rolling over) is in the range of 36- 48 percent per annum. Such unsecured loan especially credit card spending if not managed well can therefore be financially damaging.
Credit card debt is un-constructive debt and can wreak havoc with your finances. If you have large outstanding on the card, stop making any fresh purchases on it. Prepare a plan to get rid of the dues over 1-3 months or as early as possible.

Here are 12 credit card cardinal points to keep in mind while using them:
Do not roll over credit card dues: It’s mandatory to pay only 5 per cent of the due amount each month. This is precisely you should not resort to. Instead, try making full payment on the due date. Rolling over the outstanding balance of the next billing cycle will incur an interest rate of 3-4 percent on monthly basis. If you keep rolling over and simultaneously make new purchases each month, the interest portion may balloon and soon one would fall into a debt trap.
The interest-free period may not be there always: Typically, there is an interest-free period on purchases made on credit card. It can be as low as 18 days and can even go up to 45 plus days. To avail this benefit, the outstanding amount has to be nil. So, if you roll over a certain amount to next month’s billing, there’s no interest-free period on the new purchases.

Limited usage: There are many who own more than one credit card and few are known to carry as much as 12 of them. Try to not utilize more than 50 percent of your total credit card limit. One may also put such limit as a mobile or email alert so that purchases can be monitored. Remember, credit card records and history is shared by banks with the credit bureaus in the country. Higher usage of credit or untimely payments may impact the credit score negatively. Use only a small portion of the total credit limit provided to you as it suggests that you are financially secure and are not reliant on borrowings. So avoid reaching the maximum credit limit on your credit card. There is no thumb rule, but most financial experts believe that it is safe to use up to 50 per cent of the sanctioned limit on your credit card.

Avoid cash withdrawals: Cash withdrawal on the credit card does not come with any interest-free period. There could be a one-time fee plus the interest charges that starts from day one till you repay the amount.

Real worth of Reward points: Earning reward points have become a fad in the credit card industry. Depending on the card variant (entry- -mid-upper level), a cardholder may earn certain points on every purchase. For example, there could be 1 point for every Rs 100 spent on the card. Higher spends could make you qualify for more earnings of say 2 or 4 points. The value of the gift that 1 point could fetch could range.25-.50 paisa. Few co-branded cards allow purchasing of petrol against the points or settling them against the bill amount. Opt for these two rather than buying gifts. Overspending for the sake of earning reward points on the card should never be the objective.

Auto debit from your account: Give standing instructions to your banker to deduct full amount each month so that you don’t roll-over the credit to next month. There is another option to pay only 5 percent but its better to pay off the outstanding dues in full.

Convert to EMI’s: If paying entire amount is looking difficult, ask the credit card issuer to convert it into EMI’s which generally comes to lower interest rate than what one pays on normal credit card dues. After conversion (there could be one percent processing fee), the interest hit could be about 18-24 percent lower than the hit on the card.

Make a balance transfer: Alternatively, you may transfer the outstanding amount to another credit card at a reduced interest rate. It’s possible only if you hold more than one card.

Watchful eye: Keep a close eye on the credit card statement for any technical errors to avoid paying interest on them. Any late payment will result in late payment fees plus interest charges. Keep the customer copy of the purchase unless bills reflect them properly.

Spending pattern: Importantly, review your card statement to see the pattern of expenses and the areas where it can be brought down. Making a cut on one’s food and outings may help you keep not only interest under control but also one’s household budget.

Overspending: With the credit card in one’s wallet, the world is a marketplace. In the case of impulsive buying, try postponing the purchase by 3-5 days. It helps in making the right buying decision.

International usage: Using a credit card abroad could be costly. Use it unless hard pressed for funds. There could be several different charges involved in an international transaction. There could be currency conversion fees of 2-3 per cent on international shopping. Also, if your card is not an International card, you might be charged a fee of 2-3 per cent on each purchase. And, if you use your credit card to withdraw cash while you are traveling abroad, you may have to pay a cash withdrawal fee of around 2-3 per cent of the amount you withdraw.

Conclusion:
Do not avoid debt but use it judiciously. After all, one’s usage of debt plays an important role in shaping one’s credit history for any future requirement of the loan. Overspending and untimely payments should always be avoided to lead a debt-free life. Over-dependence on credit card to meet day-to-day expenses may lead to a debt-trap and if not properly managed, the damage can soon become irreversible. So, the next time you reach out to your wallet to take that credit card out to swipe, think again.

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25/04/2017

WHEN IN GUJARAT, EMBARK ON A DELICIOUS JOURNEY

If you are planning for a long due vacation, Gujarat is an easy side-step, off the well-beaten tourist trail. Many of its ever growing cities are now important business hubs, but the countryside still holds most of this state’s many treasures. The traditional craftsman and artisans in the remote and tribal villages are known for their weaving magic, exotic embroidery work, and for creating some of India’s finest textiles. Gujarat is home to some rare and unique wildlife that includes migratory birds, wild asses and the last remaining prides of Asiatic lions. It is also a popular destination among the spiritually inclined, as there are many sacred Jain and Hindu pilgrimage sites scattered across the state. Gujarat also has a special relationship with the life and work of the Father of the Nation, Mahatma Gandhi, as Porbandar, a place in Gujarat is his birthplace. His legacy is still preserved in the museum called Gandhi Smarak Sangrahalaya at the Sabarmati Ashram and followed with utmost care and devotion Here, Dandi March was initiated by Mahatma Gandhi in 1930.

One of the most important things to explore in Gujarat is its cuisine. It is well-known across the world and is something that will definitely give you a different culinary experience altogether. Despite having an extensive coastline that offers ample opportunities to catch and feast on the delicious seafood, Gujarat is primarily a ‘Vegetarian State’ due to the influence of Jainism and Vaishnavism. However, there are many who still include non-vegetarian delights in their diet. Many Gujarati dishes are distinctively sweet, salty, and spicy simultaneously. Gujarati cuisine is one of the oldest culinary treasures of the country and each dish has its unique style of cooking. The variety of pickles, farsans, chutneys and other dishes have been found to be high on nutritional value. The real essence of Gujarati food lies in its creative use of everyday vegetables and mild spices. Some of the most popular dishes are: Khandvi, Gujarati Samosa, Gujarati Uundhyu, Gujarati Kadhi, Dhokla, Methi ka Thepla, Dal Dhokli, Handvo, etc.

It is a nice place if you want to have an experience of visiting a desert, the Rann of Kutch, a seasonal salt marsh is located in Thar Desert in Gujarat is a major tourist attraction. The government of Gujarat hosts an annual 3 month long festival Rann Utsav to attract visitors where one can see beautiful sights of Rann, get to know of local culture, cuisine and hospitality.

So plan your trip to Gujarat, one of the major tourist spots of India.

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22/04/2017

INTERVIEW WITH RYAN SPIELMAN AT SHREYAS YOGA RETREAT

Ryan Spielman: “happiness is a wholehearted investigation into the nature of life”.

What is Astanga Vinyasa and what makes it different to other yoga practices? What benefits will one get that other types of yoga can’t give?

Ashtanga Vinyasa Yoga is popular style of yoga consisting of a series of asanas linked together with specific breathing and dynamic movement. Ashtanga Vinyasa was developed by the late Pattabhi Jois of Mysore India. It creates an internal heat by linking breath and movement to make a moving meditation that is not only has tremendous benefits for the physical body but also relaxes and focuses the mind.
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Why have you chosen this particular type of yoga for yourself?

I haven’t chosen Ashtanga yoga, it chose me. The moment I first encountered it I fell in love. I knew that this was the perfect practice for my temperament. It has met me at every stage of my practice whether I need to be soft, slow and explorative or whether I want a strong, challenging practice that will test my limits. I have found that Ashtanga is versatile enough to consistently support my spiritual practice.
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Can you give us your Insights on approach towards students who are very keen on practicing Vinayasa but are not ready physically – might have injuries or health issues ? Do you still follow the traditional sequence or have a more personalized approach?

I believe that anyone can begin the practice of a Ashtanga Vinyasa Yoga at any level. We all have to start somewhere. I really recommend that people ease their way into the series and give themselves lots of time to build up the strength and in endurance to slowly progress through the primary series. I believe that the system is brilliantly designed. I use it as a framework or a guideline to meet each individual practitioner wherever they are. Sometimes that means that the series needs to be modified in some way so that it fits an individuals needs.
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How do you understand the level and ability of a practitioner while making the adjustments? Also, any tips for teachers who want to learn to do the same?

For me, adjusting asana has become a natural, intuitive way of teaching this practice. My approach is to meet the practitioner where they are and listen to the intelligence of the body to find out if there is room to maximise the postures or the breath even more. Mostly I like to support people in learning to do the practice on their own. I teach several adjustment workshops each year for teachers. There are lots of resources online, books and DVDs that may be helpful for teachers who want to expand their toolbox. You can find my adjusting DVD at trueryan.com
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How can Astanga yoga help overcome daily life’s typical challenges these days – stress, lack of time, feeling disconnected, not feeling very good about your appearing?

I believe the Ashtanga practice is an incredible support for one’s overall spiritual practice. It keeps you physically healthy, balances the mind, creating focus flexibility and resilience. And it’s fun!
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Your recipe to happiness

In my experience genuine happiness, a deep, abiding fulfilment with life, comes from a wholehearted investigation into the nature of life. From this investigation comes acceptance and reverence for this mysterious, miraculous universe that we find ourselves in. For me, true happiness come from a recognition that life is ultimately utterly and completely out of my hands.
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Is there a connection between your Yoga practice and music ? Does one inspire the other?

In addition to my Yoga teaching, in recent years I’ve started writing and performing spiritual comedy songs. I have just finished my second album. All the songs come directly from my years of yoga practice. I love Yoga. I can love it so completely because I don’t take it too seriously. Life is a mystery and I like to pull the rug out from under any place I try and hang my hat.

http://bit.ly/2p5MFdz

21/04/2017

HOW INDIA IS SQUANDERING ITS TOP EXPORT: THE BUDDHA BY DZONGSAR JAMYANG KHYENTSE

Vana believes that India’s greatest gift to the world could be its healing traditions and spirituality.
The smiles on the faces of its people, the chaos and complexity of its culture and society, that bring people to India, all stem from spiritual wealth that it has accrued over millennia. But this wealth is slowly eroding, visible beneath the surface, only to those that wish to see it.
This article by Khyentse Norbu speaks eloquently about one very important aspect of India’s slow spiritual erosion, and in fact highlights India’s complete ignorance of key aspects of its culture that do not suit the opportunistic mainstream.
Under Vana’s contemporary and neutral exterior, exists an Indian soul.That does not succumb to what the world stereotypes India to be. It is just what is.
We wish for India's truest essence to be experienced, preserved and nurtured.

http://bit.ly/2pJhwKV

21/04/2017

SECOND INCOME - HAVE A SECOND YOU IN THE FAMILY

With changing times everyone has started planning for Uncertainty of Life, everyone wants to make sure that their families will not have to bear the brunt in case loss of income arises due to any uncertainty.
However how many of us do plan for the real threat i.e. loss of income or possibility of not keeping up to your Wife or Child’s Expectations. You deserve an investment solution, one which offers you something no other investment can, another you in the Family.!!!!

Second Income Investment Solutions is the Answer

- Second Income For Self

During golden years, when you are at the top of your game, you don’t need anything but you would need back up when nothing is going your way

- Second Income for Housewife

Be self-Independent, The comfort of being a Housewife and independence of being a working woman - "WORKING HOUSEWIFE"

- "Second Income” for Child's Expenses
Plan when your expenses are low, because your child’s expenses will never be low
Let us review couple of the best in class investment solution which meets the above requirements

Bharti AXA Life Monthly Income Plus Plan

What is Bharti AXA Life Monthly Income plus Plan?
Every month comes with a new wish. Be it a laptop for your kid’s birthday, a trip abroad for your wife or a renovation for your home. You often postpone these desires in the pursuit of fulfilling immediate needs. Bharti AXA Life Monthly Income Plan+ is a limited premium payment traditional Participating endowment plan, ensuring a guaranteed monthly income that helps to fulfil your loved ones’ desires while protecting them in a case of an Unfortunate event.

Reasons to buy this plan

1. Guaranteed Tax-Free Monthly Income.
2. Potential Upside through Bonuses
3. Limited Premium Payment Term
4. Continued Monthly Income after Death
5. Tax-Free Maturity

Key Features

Guaranteed Tax-Free Monthly Income - Maturity Benefit.
You start receiving Guaranteed Monthly Income after the completion of the Premium Payment Term, until Maturity, provided the policy is in force.
You have the flexibility to choose the Monthly Income you wish to receive, which decides your premium amount.

This income is tax-free

On Maturity in addition to the Monthly Income client would receive Non-Guaranteed plus Non-Guaranteed Terminal Bonus

Comprehensive Protection - Death Benefit

1. In a case of the unfortunate death of the Life Insured, a percentage of Monthly Income is payable to the nominee from the next policy month onwards and continues for the next 8, 10 or 15 years depending on the Policy Term option chosen at inception of the policy.
2. This pay-out is made over and above the Monthly Income pay-outs made before the death of the Life Insured.
3. The accrued Non-Guaranteed Annual Reversionary bonuses and Non-Guaranteed Terminal bonus are paid out on death as a lump sum along with the first monthly income instalment.

Potential Upside through Bonuses

1. Non-Guaranteed Simple Annual Reversionary Bonuses get accrued to the policy from the end of 1st policy year and get paid out on Maturity or on death.
2. You may also receive non-guaranteed terminal bonus either on death or maturity.

HDFC Life Super Income

What is HDFC Life Super Income Plan?
As you approach different stages in life, there are dreams and aspirations that you set out for yourself and for your family, but this doesn’t set you free from the day to day responsibilities of managing house, paying for heath expenses, school fees etc. HDFC Life Super Income Plan is a participating plan that offers guaranteed income for a period of 8 to 15 yrs.

Reasons to buy this plan

1. Various PT and PPT options to meet your Income Goals
2. Guaranteed Income varies from 8% to 12.5% of SA p.a.
3. Guaranteed Base Income is paid per annum during Maturity Pay-out period
4. Boost your Regular Income at Maturity with Revisionary Bonus and Terminal Bonus

Key Features;

Range of PPT and PT options to meet your Income Goals
This plan offers various options which client can select at inception to achieve ones’ financial Goal.

Guaranteed Base Income (GBI)

It will be expressed as percentage of Sum Assured on Maturity. This amount is known to client at Policy Inception and is paid at the end of year during the pay-out period as per the chosen Plan option. Percentage of the pay-out under different pay-out options is detailed herewith

Higher Protection Benefit - Death Benefit

In a case of the unfortunate event of death of the Life Insured during the Policy Term, the following benefits will be payable to the Nominee, subject to Policy being in force. The Sum Assured on death will be the higher of:

1. Sum Assured on Maturity, or
2. 11 times Annualised Premium, or
3. 105% of all premiums paid (excluding any additional charges as levied by the Company over and above the standard premium rates).

Limited Premium Payment Term

There are three Premium Payment Terms available. You can opt for a Premium Payment Term of 5, 7 and 12 years. The Policy Term depends upon the premium term chosen.

For more details click here - http://bit.ly/2pJA7Xd

21/04/2017

BEST PLACES TO STAY AND EAT IN CHANDIGARH

Chandigarh is a prosperous, comfortable and cosmopolitan city in India. The city of Chandigarh is the first planned city of independent India and is known all over the world for its architecture and urban design. It is officially a Union Territory and is also the joint capital of two states, Punjab and Haryana. This vibrant city is not only beautiful but also a major business hub in the country as it has been termed as the ‘wealthiest town in India’. People from all over the world visit this city both for business as well as leisure purposes. It also acts as a major transit point in the northern part of the country. Due to the rise in the number of visitors, many hotels and resorts have been established in and around the city. If you are planning to visit this majestic city and trying to make hotel booking in Chandigarh, then one of the best options for you could be The Fern Residency, Chandigarh.

The Fern Residency, Chandigarh is a 3 Star Deluxe Business & Environment Sensitive Hotel in Chandigarh near Sukhna Lake. With an aim to conserve the environment, many hospitality chains in India are adhering to the norms and designing the hotels accordingly. The Fern Residency, one of the best hotels in Chandigarh also follows the norms by designing environment-friendly rooms that not only help save energy but at the same time provides utmost comfort & luxury to its guests. Some of the notable facilities available in this hotel are a multi cuisine restaurant, bar, laundry services, Wi-Fi, and many more. The rooms are fully equipped with many modern amenities to make your stay a memorable one. It is undoubtedly one of the best hotels near pgi Chandigarh and also one of the popular places to stay and eat in the city.

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21/04/2017

PLACES YOU CAN VISIT IN INDORE TO MAKE IT AN AWESOME TRIP

Indore, the largest city of the Indian state of Madhya Pradesh is also its commercial capital. It is also considered as an education hub of the state as it houses campuses of both the premiere educational institutes, Indian Institute of Technology and Indian Institute of Management. Indore traces its roots to its 16th century founding as a trading hub between the Deccan and Delhi. The city is not only frequented by business travellers but also many leisure travellers. There are many architectural marvels and places blessed with abundant natural beauty in and around the city. The Holkar dynasty left behind some fine buildings and monuments in the city that are now popular landmarks and tourist destinations.

Lal Bagh Palace

It was built between 1886 and 1921, the Lal Bagh Palace is one of the finest pieces of architecture left by the Holkar dynasty. The palace is adorned with replicas of the Buckingham Palace gates at the entrance that leads to the 28-hectare garden. If you are a lover of art and beautiful palaces and forts, then it is one place you would love to visit.

Rajwada Palace

The Rajwada palace is a historical building in Indore city. It was built by the Holkars of the Maratha Empire about two centuries ago. It does exhibit some intricate forms of architecture and is a famous tourist destination in the city.

Mandavgarh

If you have time to spare, do pay a visit to Mandavgad which is located about 99 kilometres from Indore. It is a ruined city with many majestic forts, palaces and full of natural landscapes.

If you are for a longer time in Indore, and want to spend some quality time amidst nature then you can see the waterfalls such as Patalpani waterfall, Choral fall, Tincha fall, etc. which will definitely delight you. So, head for an interesting excursion to Indore soon.

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