#10YearChallenge: How to achieve your financial goals in next 10 years

THE ECONOMIC TIMES Tue, Feb 19, 2019 | 06:30 AM IST ET Wealth Newsletter

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#10YearChallenge: How to achieve your financial goals in next 10 years Whether you want to save for retirement or prepay a home loan, you can achieve that within 10 years. It's all about how you make your plan. Don't tie your career and savings to the same industry: Here's why Tying up your career and your savings to the well-being of the same company (or the same industry) is clearly a case of putting all your eggs in one basket. Want a safe option to save tax and fund your retirement? Invest in PPF Since the Public Provident Fund (PPF) has a long tenure of 15 years, the impact of compounding is huge, especially in the later years. These 5 PSU stocks have now become good buys for long term investors The government's strategy of using the exchange-traded fund (ETF) route to divest its stake in them has led to some short-term technical pressure. Inside IndiGo's pilot crisis Keeping the ambitious expansion plan on track will be a challenge for IndiGo as pilots leave. Who's to blame for IL&FS crisis? The infrastructure lender is under a finance ministry department New launches can't save M&M from being squeezed in the SUV market Onslaught of new brands and the diminishing relevance of its rugged vehicles, and mounting product-development costs have pushed M&M into a corner. The company is now selling more goods trucks than utility vehicles. From our Partners Power of Micro-actions: Can small steps culminate to a big out-turn? Begin today, take these small steps and witness them reach a pinnacle. From our Partners Did you believe these myths on tax deductions? Schemes like health insurance, term plans, ULIPs allows tax payers to claim deductions Should you invest in retirement funds to save for your old age? Dedicated retirement funds make sense if the investor is more inclined to remain invested in the fund on account of the retirement tag associated with them. 5 steps to achieve money goals with limited income Whenever there is a limited resource, and we want to allocate it to multiple things, there is conflict. Treating money as a limited resource is a skill learned over time. Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) JM Core 11 Direct Plan-Growth 0.91 -9.71 -0.66 22.19 JM Core 11 Fund-Growth 0.73 -10.43 -1.85 20.63 Axis Bluechip Fund Direct Plan-Growth -0.66 -6.32 9.07 17.28 Reliance Large Cap Fund Direct-Growth -4.91 -7.01 -2.47 16.69 Axis Bluechip Fund-Growth -0.78 -6.99 7.51 15.84 FeaturedHDFC Mid-Cap Opportunities Fund-Growth ★★★★★ -6.30 -15.81 -13.65 13.68 Start SIP Find out if you need to secure your existing job or look for a new one Go through this decision tree to find out if you need to take steps to secure your existing job or start searching for a new one at the earliest. Indian Inc's Q3 results: Few companies pulled down earnings growth Experts say that even the fourth quarter results are likely to be weak as companies are unlikely to take big decisions before the general elections.

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You can grow faster by helping your boss succeed: Here's how Like the Oscars, appraisals throw up unlikely winners and losers causing celebrations or heartburn. Ever wondered why appraisals are unpredictable? Realty hotspot series: Why Chembur, Mumbai is a key residential area One of the highlights of this area is that it has excellent road and rail connectivity to every part of the city. Stock pick of the week: Coromandel International has overcome sectoral problems Lower raw material prices, rising share of higher margin non-subsidised fertilisers business in overall revenue, and capacity expansion have made it analysts' top pick. Family finance: Early planning, high surplus to help Gawades meet goals easily Pune-based Gawades has to plan for his goals like building an emergency fund, taking a vacation, saving for his future child's education and wedding, and his retirement.

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