7 financial planning myths you shouldn't believe

THE ECONOMIC TIMES Tue, Jan 14, 2020 | 08:34 AM IST ET Wealth Newsletter

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7 financial planning myths you shouldn't believe The spread of financial literacy has made lay investors savvier than before. But some misplaced beliefs persist. Why you should not try to predict the future when investing Most equity investors believe if they gather enough knowledge and apply it all, they will know what is going to happen to an investment. All of it adds up to trying to know where stock prices will head tomorrow. ET Wealth Wisdom Podcast: Never too late for these money resolutions In this episode of ET Wealth Wisdom, we list out 20 financial resolutions which you can take in 2020. Make even half of these and you're sure to have a happy, healthy, wealthy new year ahead. How to deal with your biggest financial fears If you have no investing expertise or have suffered losses and are afraid you will do so again, the best option is to not invest directly through stocks, but via mutual funds. Find out how to conquer your fears and secure your finances No after-party on SME exchanges after listing Rampant malpractices have unnerved many investors, resulting in illiquidity at the counters. Renault rides on Triber and Kwid Even though the Indian auto industry was struggling with historically low sales last year, Renault India clocked 15.24% growth during April-December. Triber, Kwid with a facelift, and the upgraded Duster did the trick. But with Tata Motors and Kia readying similar products, maintaining the current momentum will be a big challenge for Renault. Murugappa scion fights for her say in business The eldest daughter of Murugappa Group patriarch late MV Murugappan is fighting a battle at two levels: she is demanding a board seat in the holding company of the conglomerate and an equal role in the business for the family's female members. From our Partners Everything about the most effective loan lending channel you must know Digitization has helped the common man achieve financial independence by obtaining affordable access to finance. From our Partners Why Term Insurance is crucial if you are Self Employed? Should you take a loan to buy a big car? Buying a big car requires a large investment. An expensive car means tying himself/herself to higher obligation of EMIs for a longer period, which can mean trouble. This is why one needs to evaluate whether he/she is comfortable with such a decision. How to maximise benefits of savings bank account The savings bank account is typically used to deposit money in a safe place and it has many benefits. For instance, it works as a person's cash management system. Third-party utility bill payments, loan EMIs, insurance premium can be paid seamlessly. Top Mutual Funds SCHEME NAME RATING 3 YRS(%) 1 YR(%) 6 M(%) 1 M(%) Axis Bluechip Fund Direct Plan-Growth ★★★★★ 21.30 22.45 11.60 1.83 Invest Now Axis Bluechip Fund-Growth ★★★★★ 19.75 20.99 10.98 1.73 Invest Now Canara Robeco Bluechip Equity Fund Direct-Growth ★★★★★ 16.87 19.65 11.43 2.42 Invest Now Mirae Asset Large Cap Fund Direct- Growth ★★★★★ 15.96 15.81 8.10 1.81 Start SIP Sundaram Select Focus Fund Regular-Growth ★★★★★ 15.95 15.45 7.58 1.47 FeaturedICICI Prudential Corporate Bond Fund Direct Plan -Growth ★★★★★ 7.70 10.15 4.49 0.94 Start SIP Why analysts are betting on these cement stocks in mid-cycle downturn The industry has maintained good discipline in terms of capacity addition in the past five years—contrary to the furious capacity expansion in the preceding 5-10 years that drove down utilisation levels and cement prices. Money & Relationships: Should you pay your child for chores or school work? ​​To motivate disinterested kids, parents try to offer them financial rewards, with the amount varying according to the child's age and type of task. Find out the strategy you should adopt to incentivise your kids.

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Financial Calculators New LTCG tax calculator: Plan, compute your tax Use this tool to calculate long-term capital gains (LTCG) and the corresponding LTCG tax for listed shares and units of equity-oriented mutual funds. Tax Impact Calculator This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay.

6 game-changing smartphones of 2019 The year 2019 saw the launch of many smartphones. However, there were some of these which were game-changers and paved the way for the next generation of smartphones. ET Wealth rounds up the top six among these. Will Indian real estate bounce back in 2020? In 2019, housing afforability showed a marked improvement. We also saw a plethora of launches in the market. In 2020, Knight Frank expects the GDP growth to touch 6-6.5% by next year. It also expects the real estate sector to maintain its momentum. My grandfather and father died without a will. Can I get a share in my ancestral property? There are three ways in which your father can pass on the property exclusively to your brother: through a gift deed, a will, or by selling it. How Sensex, Gold, 10-year G-sec performed during week ending January 9, 2020 Here's a weekly tracker of returns that will keep you updated on how the stock market index, gold prices and 10-year bond yields have performed. This will give investors an idea of how their investments performed over a long period. Realty hot spot series: Proximity to job hubs makes this Navi Mumbai area popular real estate Panvel is quite popular due to its proximity to key commercial hubs. The locality also boasts of known malls like Orion Mall, Seawoods Grand Central Mall etc. Construction of the Navi Mumbai International Airport is likely to boost housing demand. Why you should not be afraid to ask for help We believe that helping ourselves is the hallmark of responsible behaviour. We don't like to expose ourselves as weak and needy and wanting the other's help to get by. It somewhat diminishes us. At some point it, also makes us vulnerable. Tax optimiser: Home loan, NPS, medical cover can cut tax by Rs 77,000 for Sinha For the home loan taken, the interest paid to the bank can be claimed as a deduction for a maximum of Rs 2 lakh under section 24. Further, the principal component also offers tax benefit under section 80C. MF portfolio doctor: Das can reach all money goals without increasing SIPs The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. The advice given is based on the performance of funds, goals, etc. Stock pick of the week: Govt's infrastructure push will be positive for L&T L&T is expected to grow faster in the coming years after the recently announced infrastructure push. The company's reasonable valuation and continued growth even during the difficult phase of infrastructure growth has made it a favourite of analysts. Worst is over for larger NBFCs with sound business models: Vinay Agrawal, Angel Broking "Now with the worst of the NBFC crisis behind us, gradually liquidity concerns are being addressed. This coupled with government initiatives should accelerated economic growth from here," says Agrawal. What is a current account? Apart from a savings bank account, one can also open a current account with a bank. This account usually caters to the people who run businesses and it is designed for carrying out business transactions.

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