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How a Life Insurance Agent in Kolkata Can Help You Get the Right Coverage?
In the excitement and energy of city life, it's crucial to ensure that you and your loved ones are financially protected. A life insurance agent in Kolkata can play a vital role in ensuring the right insurance for your protection. Insurance agents are trained to guide you through getting insurance. These professionals help you identify your needs and find the best coverage that suits your needs. In this blog, we'll explore how an insurance agent can assist you in getting the right coverage for your unique situation.
Understanding your needs
One of the primary benefits of working with a life insurance agent is their ability to help you assess your specific needs. They will take the time to understand your financial goals, family situation, and any outstanding debts or obligations you may have. This information allows them to recommend the most appropriate coverage options for you.
Comparing Policies
With so many Best Life Insurance Companies in Kolkata to choose from, it can be overwhelming to compare policies on your own. A life insurance agent has access to a wide range of products and can help you compare the features, benefits, and costs of different policies. They can also explain the differences between term life insurance, whole life insurance, and universal life insurance, ensuring that you make an informed decision.
Navigating the application process
Applying for life insurance can be a difficult task, especially if you're unsure of the required documentation or the underwriting process. A life insurance agent can guide you through every step of the application process, from gathering the necessary documents to submitting your application. They help you understand the medical exam requirements and answer your queries along the process.
Ensuring Adequate Coverage
One of the most important roles of a life insurance agent is to ensure that you have adequate coverage. They will consider your current and future financial obligations, such as mortgage payments, childcare expenses, and retirement planning. By considering these factors, they can recommend a coverage amount that will provide financial security for your loved ones in the event of your untimely passing.
Ongoing support
A proficient life insurance agent remains by your side even after the policy purchase. They are dedicated to offering continuous assistance and advice throughout your policy’s tenure. If you encounter significant life changes, such as tying the knot, welcoming a new baby, or acquiring property, your agent can assist you in reassessing your coverage and making any required modifications.
In conclusion, collaborating with an insurance agent can significantly influence the safeguarding of your financial future. They possess the necessary knowledge, skills, and resources to assist you in securing the most suitable coverage at an optimal cost. Whether you’re contemplating life insurance for the first time or considering a review of your current policy, think about connecting with a local agent today.
Remember, our team is consistently available to assist you. We promise to deliver customized financial solutions and guide you through the complexities of life insurance. Get in touch with us to ensure the protection of you and your loved ones. Visit our website to learn about our offerings.
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Navigating Financial Success: Tips from the Best Financial Advisor in Kolkata
Financial success is not a matter of luck, but of planning and discipline. Whether you want to save for retirement, buy a house, or start a business, you need to have a clear vision of your goals and a realistic strategy to achieve them. But how do you create a financial plan that works for you? How do you manage your money effectively and avoid common pitfalls? How do you deal with unexpected challenges and opportunities?
To answer these questions, we spoke to Mr. Manikant, the best financial advisor in Kolkata, according to the Financial Times. Mr. Manikant has over 20 years of experience in helping individuals and businesses achieve their financial objectives. He shared with us some of his tips and insights on how to navigate financial success in today's complex and dynamic world.
Know your current financial situation
The first step to financial success is to know where you stand. You need to have a clear picture of your income, expenses, assets, liabilities, and net worth. This will help you assess your financial health and identify your strengths and weaknesses. You can use online tools or apps to track your income and expenses, or consult a professional financial advisor for a more comprehensive analysis.
Set SMART goals
The second step to financial success is to set SMART goals. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound. Your goals should be clear, quantifiable, realistic, aligned with your values, and have a deadline. For example, instead of saying "I want to save more money", you should say "I want to save Rs. 10,000 by the end of the year for a vacation". This will help you stay focused and motivated, and measure your progress.
Create a budget and stick to it
The third step to financial success is to create a budget and stick to it. A budget is a plan that shows how much money you earn, spend, save, and invest each month. It helps you allocate your resources wisely and avoid overspending or undersaving. You can use the 50/30/20 rule as a guideline: spend 50% of your income on essential needs, 30% on wants, and 20% on savings and investments. You can also use online tools or apps to create and monitor your budget, or consult a professional financial advisor for a more personalized plan.
Build an emergency fund
The fourth step to financial success is to build an emergency fund. An emergency fund is a savings account that you can use to cover unexpected expenses or income loss, such as medical bills, car repairs, or job loss. It helps you avoid debt, stress, and financial hardship. You should aim to save at least three to six months' worth of your living expenses in your emergency fund. You can start by saving a small amount each month, and gradually increase it as your income grows.
Invest for the long term
The fifth step to financial success is to invest for the long term. Investing is the process of putting your money to work for you, by buying assets that generate income or appreciate in value over time, such as stocks, bonds, mutual funds, or real estate. Investing helps you grow your wealth, beat inflation, and achieve your financial goals. You should invest according to your risk tolerance, time horizon, and objectives. You can also diversify your portfolio to reduce your risk and increase your returns. You can use online tools or apps to learn about investing, or consult a professional financial advisor for a more tailored advice.
These are some of the tips from the best financial advisor in Kolkata on how to navigate financial success. By following these steps, you can create a financial plan that suits your needs and aspirations, and enjoy a more secure and fulfilling life.
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Investment Outlook Through Mid-2022: What Comes Next?
Just as the Covid-rattled world economy is setting out towards recovery and growth, Russia-Ukraine crisis is a dampener on us. This article is a general opinion on Mid 2022 investment outlook to better your investing journey!
Inflation has become a major concern now. Most of the things in our consumption list are becoming costlier.
Globally, respective Central Banks and Governments are playing their respective roles to tackle these times.
As we are sharing our Mid 2022 investment outlook and the way forward, we need to take into cognizance a lot of domestic as well as global factors.
You do not know how long an “air pocket” will go on. But, your financial goals are there for you to achieve. What matters is how you act/respond in different market cycles. Therefore, as Mutual Funds Advisor in Kolkata, we are following necessary asset allocation strategies for respective clients.
Trying to do too much can be disappointing. As SEBI Registered Investment Adviser in Kolkata, we believe that all you need is conviction, discipline and patience.
If we were not confident about India’s growth in the long run, we wouldn’t have been investing our savings in the first place. If we didn’t recognize the value in investing globally, we wouldn’t have taken off-shore exposure.
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Mid 2022 Investment Outlook: What’s The Way Forward?
The Russia-Ukraine crisis puts a damper on our efforts to recoup and flourish as the world economy begins to recover from its Covid-rattled state. This article offers a basic viewpoint on the investment picture until mid-2022 to help you along your investing path!
Now, inflation is a huge problem. The majority of the items on our consumption list are getting more expensive.
Globally, several Central Banks and Governments are addressing these times in accordance with their different roles.
Many domestic as well as international issues must be considered as we share our investment view through mid-2022 and the path forward.
High volatility is being reflected in the financial markets. Do we have to do something remarkable at this time?
In essence, it required 5 years to break even.
The sell-off by foreign institutional investors in the domestic equities markets, which caused a rapid decline in net capital inflows and a sharp slowdown in global economic activity and external demand, were the fundamental causes of our issues.
However, it is crucial to analyse the 10-year Bond yield curve from 2008 to 2013 attentively.
To resolve the liquidity problem, the RBI started a series of hikes in the cash reserve ratio and issuances under the Market Stabilization Scheme.
These should be discussed because both the government and the central bank fulfilled their responsibilities. We are not able to do much. But as investors, we must exercise restraint.
Now, the recovery was different if we talk about the market slump brought on by the COVID-19 epidemic. Sensex dropped from a high of 41,000 to a low of 25,638 in March 2020. (more than 30 percent fall). To everyone's surprise, the markets, however, had eclipsed their former highs by December 2020.
It took less than 1 year to break-even. The 10 year Bond yield curve went through volatility as well.
In 2020–21, monetary policy and liquidity operations were focused on reducing the COVID–19 pandemic's effects. Between March and May 2020, the monetary policy committee (MPC) reduced the policy repo rate by 115 basis points (bps). The intention was to prevent any aspect of the financial system from experiencing credit or liquidity restrictions.
We must specify our goal-based investment plans based on these factors.
Is India the only nation experiencing unrest? Absolutely not!
The two events had different effects and recoveries. Market recovery after the financial crisis of 2008 took about five years. Again, after a market slump brought on by a pandemic, we saw quick recovery. Thus, it's possible that the past will repeat itself.
Why do we keep repeating how important your time in the market is to achieving your definite financial objectives? Since timing the market is a fruitless endeavour, We can help you create appropriate investment strategies because the "buy and forget" approach doesn't always work. The duration of a "air pocket" is unpredictable. But you can reach your financial objectives if you want to. What important is how you behave or react during various market cycles. As a result, as a Mutual Funds Advisor in Kolkata, we adhere to the appropriate asset allocation plans for each customer.Overextending oneself might lead to disappointment. All you need, in our opinion as a SEBI Registered Investment Adviser in Kolkata, is conviction, self-control, and endurance. We wouldn't have invested our savings in the first place if we didn't have faith in India's long-term growth. We wouldn't have taken on off-shore risk if we hadn't realised the benefits of investing worldwide.You must have faith in the procedure. We want you to succeed in your life's ambitions.When discussing our investment prognosis for 2022, the impact of the Russia-Ukraine issue is becoming apparent. So that we can manage continuous market swings, we are keeping an appropriate asset allocation plan in your portfolio.
Different geographical regions are being impacted in different ways. The repercussions and its varying degrees are expected to influence global indices.
When equity markets are reflecting volatility, debt markets are no exception either.
We're fighting the inflation. The trend for retail inflation has been significantly higher than the RBI's 6 percent upper tolerance level. We can all sense the heat. Those who are retired and relying solely on passive income have difficulties. Can this be avoided? Definitely not! This upheaval is only momentary. However, you must have a backup plan.
Fixed income has been severely hampered this year by a strong increase in Treasury rates.
Bond portfolios seeing such large losses is unusual for investors, especially when the equities markets are also experiencing a severe decline. You must be a patient investor if you want to build wealth over the long term. To create returns and reach our financial objectives, we are all investing our hard-earned money. As CFPs in Kolkata, we are aware that this is a decision that cannot be second-guessed.But it might be unreasonable if you hope to receive a significant return each year. In the end, the voyage is unpleasant, and you experience distress.We are also taking into account the downside risk as your financial advisor in Kolkata! We frequently point out that both "greed" and "fear" are bad for investment. What do we mean exactly?When an investor lacks direction, they are more likely to seek profits. They are guided to make investing decisions by market noise. Because of this mindset, he or she is particularly susceptible to emotions (such as greed and/or fear).In September 2021, while markets were soaring, a number of sites presented their reports. Some predicted that markets would keep rising. Others claimed that the images were depressing. Can we make decisions based on market rumour? Could sources that emphasised short-term market volatility also take the Russia-Ukraine issue into account? Of course not!
If you are becoming upset when you observe a short- or medium-term portfolio return that is low or negative, you need to be aware of the economic environment (domestic as well as global).
Markets experience ups and downs like this. We must accept these market volatility when weighing risk-reward scenarios. We are unable to anticipate the future, hence we are unable to predict when the markets will decline or recover. As a result, before advising you to make an investment, we, as your fee-only financial planner in Kolkata, always talk to you about your financial goals.
We concur that short-term market declines or crashes can be frightful. Your experience investing with us is important. We firmly believe that employing correct investment methods may eventually pay off for taking these risks.
You wouldn't plant an oak tree and then dig it up every three months to check on the health of the roots, according to Carl Richards, a thought-leader in our sector. Let it compound if it does.
Let's stay the course, keep our sights on our definite financial goals, and have faith in the process.
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Whether it is Portfolio Management, #Retirement Planning or #Tax-Saving Solutions, you need someone to guide you properly and make the right Investments. We have figured out some of the key factors to help you decide and select the Best #FinancialAdvisor for yourself in Kolkata: https://ssainvestors.com/best-financial-advisor-in-kolkata-key-factors/
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Mutual Funds Are Not For Cross-Selling
Mutual funds once used to be cross-selling products. But now those are not. Do you want to know what they have become now? Read on to know more and talk to your mutual fund advisor today.
There is a reason why after every ad campaign of mutual funds, there is a disclaimer saying that mutual funds are subject to market risk. If you have been thinking that mutual funds or other investment products are like saving those extra bucks that you save at the end of a month, you were wrong.
You can ask any mutual fund advisor about the return that you can expect when investing in mutual funds. You will be told that the past returns cannot assure that the same funds will offer the same return in the future. However, that is not something that I am going to discuss today.
Let’s focus on how mutual funds are losing ground as the cross-selling product.
On-boarding products:
There are mutual fund brokers who will agree with me when I say that mutual funds are presently being used as on-boarding products instead of cross-selling products. There are many zero platforms today. These zero platforms have turned mutual funds into on-boarding products instead of cross-selling products.
Once there was a time when companies treated mutual funds as cross-selling products which were cross-sold against brokerages, investment platforms, loan platforms, etc. But now, when you buy mutual funds from a company, you become a potential lead for the company’s other products.
These zero platforms have started to serve the investors’ purpose because these allow the investors to have an online transaction platform. Investors think that they can continue to invest in mutual funds without the help of mutual fund advisor in Kolkata.
However, as I have understood, people who use these platforms for investing often lack the proper guidance and advice that an advisor with market experience can provide.
Is this the digital way to go?
No business model can sustain without a digital presence in today’s world. Hence, I believe that companies can reach out to more people with mutual funds only if they go digital. However, if the companies really want to take it to the digital level, the following should be applied:
First thing is to consider the requirements of the investors instead of offering them what the companies feel right
Understanding the problems of the investors and offering them solutions for that
Helping investors to understand the process of mutual fund investment and empowering them to complete the transaction
Educating the investors on how to go through the portfolio and review the same.
Being at the beck and call of the investors so that they can ask for help
The investment patterns of the investors show their investment behavior. Closely monitoring the behavior allows the companies to understand what the investors’ doubts and ambitions are
If the investor is making any mistake that can harm his/her wealth creation, the investor must be made aware
Above all, making investors aware of the fact that mutual fund takes time to give a result. It is not an instant solution like many companies claim it to be
When investors are investing, as a mutual fund advisor, it is your responsibility to make the investor realize that investment requires planning, patience, and steadiness. The investors need to make informed decisions.
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“When to enter or exit stock markets?” – Impulsive investor’s dilemma
The overriding reason why investors want to exit stock markets in an unplanned manner is fear. The fear is that of losing money. The dominant cause why investors want to enter stock markets in an unplanned manner is greed. Greed is that of making more money.
Fear and greed take the centre stage when you are not focusing on your specific financial goals. When someone fails to define the purpose of investing, he/she is doomed to failure. Financial markets are neither rational nor are they efficient. When you have defined your financial goals, you come to know the following basics:
Why do you need the money?
How much money do you need?
When do you need the money?
As Financial Advisor in Kolkata, MERRY MIND actively focus on behavioural finance. Behavioural finance is a way of understanding investor and market behaviours. Based on the above comprehension and your risk profile, an investment strategy can be designed separately for each financial goal. Your risk profile is the keystone of the entire process. Investment planning helps you to steer clear of unfavourable emotions. When you have goal-based investment strategies in place, you need not worry about timing the financial markets. You have a clear idea of when and how to enter or exit stock markets. When you have long term financial goals, you may choose to invest directly in stocks or via equity mutual funds to participate in stock markets. Equity exposure should always be as per your suitable asset allocation requirements.
MERRY MIND believes that your risk profile, your factors along with the macroeconomic matters and the above-stated basics should be governing the asset allocation strategies. Re-balancing is an exercise that is carried out at pre-defined intervals to tide over the volatility in the financial markets. Re-balancing is not mere profit booking or averaging out losses within the investment portfolio. The exercise depends on how much time is left to meet the specific financial goal, how much money is still needed to fund the goal, prevailing risk profile, market scenario, personal financial situation, etc. Again, when your goal year is approaching, you may opt-out of risky investment avenues to protect your gains from market fluctuations. You need not randomly enter or exit stock markets.
To get a consultation from the best Sebi registered investment advisor in Kolkata, Visit the Website today- https://merrymind.in/
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What Role does a Stock Market Broker in Kolkata play?
A stock market broker in Kolkata, such as INV Rajat Finserve, is a trusted intermediary between investors and the stock market, with expertise in market analysis, investment research, and trade execution, providing valuable insights, so investors make informed investment decisions.For more information, visit https://www.invrajatfinserve.com/stock-trading-companies-in-kolkata.php
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Top 3 Mistakes Mutual Fund Investors Should Avoid
By staying informed and seeking expert advice, investors can confidently navigate the complex world of mutual funds.
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Mutual Fund Investment Advisor in Kolkata
Maximize your wealth potential with Kolkata's premier mutual fund investment advisors. Let us guide you through the intricacies of the market to build a diversified portfolio aligned with your financial goals. Trust in our expertise for informed decisions and a prosperous future. Visit https://subratasaha.in/
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What's the best way to find a financial advisor?
There are a few things that an individual should consider while selecting a financial planner for managing their finances. Those are as follows:
Credentials: A certified financial planner is the one to opt for when you are looking for a reliable financial planner for managing your finances.
Pay Structure: A flat hourly rate is preferable over a commission-based pay structure of a planner as the latter signifies the fact that the planner might be earning an additional incentive from a third-party source in your dealings. That might include certain scheme providers and so.
Ethics: Code of ethics that the planner adheres to and intentions that define the fact that they have your best interest in mind.
A financial planner such as Paisa Invest is your best bet. It does not only fit the above-cited criteria but also provides the additional security owing to its long tail of experience in working with a division of the central monetary firms, assembling their benefits and ensuring their protection. Paisa Invest additionally possesses the expertise and skill of managing the broad majority of the financial items and resource classes.
The broad spectrum of the services offered by the company ranges from specific goal-based to mutual fund investment planning. Services such as finance or loan planning, children’s future planning, investment planning, retirement planning, insurance planning and tax & estate planning are the additional services offered by the company to its clients.
Focused on serving all by neutral financial advising, Paisa Invest aims at striking the right investment chords and choices as per the investors’ age and risk appetite.
Are you looking for a reliable financial planner in Kolkata to help you manage your finances? Contact Paisa Invest today!
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NEW MONEY MANAGING PRACTICES - AN EYE OPENER !
The change is continuous in every sphere of life. The one who adopts the changing trends leads a better life especially in the field of finance. The conventional financial rules our parents and grandparents followed are not beneficial in present time. We at Investocafe analyzed how the new money managing practices are more beneficial today.
INVESTING
Earlier Saving and Investments were synonymous to PPF or FD’s to protect capital and earn a decent interest. Today, post tax returns of most such schemes can’t beat inflation. For long-term goals like retirement, higher education for children, children’s wedding etc, a large allocation to equity is necessary to build wealth that beats inflation in a tax-efficient manner. So the new trend is LOOK FOR HIGHER INFLATION BEATING RETURNS INSTEAD OF GUARANTEED RETURNS. Have a look for various investment instruments below
Diversified Equity Mutual Fund (@ 15% CAGR),Value of rs. 1 Lakh in 5 years will be: 2, 01,135
Balance Mutual Fund (@ 12% CAGR) ,Value of rs. 1 Lakh in 5 years will be: 1, 76,234
PPF (@ 8.5%),Value of rs. 1 Lakh in 5 years will be: 1,50,365
FD (@ 8 %),Value of rs. 1 Lakh in 5 years will be: 1,46,932
HOUSING
Earlier, a house meant financial security and a good long-term investment but today, buying a house implies a huge EMI burden. Paying off a home loan early in your career compromises your other financial goals. So the new trend is RENT A HOUSE INSTEAD OF BUYING. The renting a house is more affordable than buying a house as per the Artha Yantra Buy vs Rent Report 2017. Have a look that in present scenario in different cities what is the rental cost and what will be the monthly cost to buy :
Mumbai : Avg Monthly Rental Cost : 42,084 : Avg Monthly Cost to buy: 1,56,887
Kolkata : Avg Monthly Rental Cost : 18,174 : Avg Monthly Cost to buy: 47,737
Bengaluru : Avg Monthly Rental Cost : 19,176 : Avg Monthly Cost to buy: 52,280
Chennai : Avg Monthly Rental Cost : 17,911 : Avg Monthly Cost to buy: 68,908
Delhi NCR: Avg Monthly Rental Cost : 21,094 : Avg Monthly Cost to buy: 70,115
Hyderabad: Avg Monthly Rental Cost : 13,706 : Avg Monthly Cost to buy: 30,955
Kochi : Avg Monthly Rental Cost : 12,347 : Avg Monthly Cost to buy: 41,670
Jaipur : Avg Monthly Rental Cost : 12,150 : Avg Monthly Cost to buy: 36,488
Indore : Avg Monthly Rental Cost : 11,677 : Avg Monthly Cost to buy: 29,965
TRANSPORT
Earlier, owning a car was seen as a status symbol. Fuel was cheaper too. Today, an efficient public transport system and app-based taxi services made owning a car superfluous. You are also spared the trouble of high fuel bills, vehicle maintenance, driving in traffic or looking for parking space. So the new trend is RENT A CAR INSTEAD OF BUYING ONE. Have a look at the calculation below for average per day cost of possession of a car:
Average Cost of a hatchback car in India : Rs 6,00,000
Scrap value of car after six year: Rs1,00,000
Net amount goes in effective life of six year : Rs.5,00,000
Cost of car possession (5,00,000/2192 (6 years)) : Rs.229/day
Approximated Car insurance (Averaged at 10,000 yearly) : Rs.27/day
After every 3 year tyre & battery replacement charge : Rs.23/day
Car Maintenance (@ Rs 9000 yearly) : Rs.24.5/day
Interest on car buying amount(@8% on Rs 6,00,000) : Rs.160/day
Average per day cost of car possession (excluding the fuel expenditure and driver) is Rs 463.5
Cost of renting a car with driver generally available in India is Rs 12/km to Rs 20/km (Uber )
Renting a car is much cheaper than actually owning a car.
GOLD
Lack of awareness and traditional inclination towards gold made earlier generation invest heavily in physical gold. Today, gold bonds/ gold ETFs or mutual funds prove to be more beneficial over physical gold, on many fronts. So now the new trend is BUY GOLD BONDS INSTEAD OF GOLD JEWELLERY OR PHYSICAL GOLD. Have a look:
Liquidity;
Gold Bonds: Low
Physical Gold: High
Gold FTE : High
Interest;
Gold Bonds: 2.75%
Physical Gold: Nil
Gold FTE: Nil
Charges;
Gold Bonds: Nil
Physical Gold: Locker, Making Charges, Insurance Premium:
Gold FTE: 1% on Expense Ratio
Taxation;
Gold Bonds: Tax on Interest
Physical Gold: Nil:
Gold FTE : Taxes if sold before 1 year
Risk;
Gold Bonds: Nil
Physical Gold: High
Gold FTE : High
INSURANCE
The conventional or conservative approach towards insurance is a mix of insurance and investment. Insurance is a bad investment and investments don’t provide insurance. They don’t actually provide the best of either. Insurance should be taken to cover your liabilities and Term insurance is low-cost insurance that comes with higher cover for a lower premium. It does not provide returns and is treated as an expense. But a comparison between endowment policy and term insurance clearly emerge Term insurance as winner. Have a look at the comparison between Endowment plan and mix of Term Plan with SIP below.
LIC Endowment Vs Term Insurance Plan with MF investment:
LIC new endowment plan for Rs. 50 lakh cover:
At 30 years age for a period of 30 years or 60 years age
Monthly premium is Rs. 13293 for 360 months (30 years)
Total maturity amount at the age of 60 years would be Rs.1.77 crore
Term Insurance plan of ICICI Pru for Rs. 50 lakh cover and SIP in ICICI value discovery fund
From 1 st to …… 360 months
Term Plan Premium: 426……..426 : Total (@ 12% CAGR)
SIP Amount: 12867……………12867 : Total Rs.4.54 Crore
Visit www.investocafe.com to know about mutual fund investment options and stay on path of financial freedom
Happy Investing!!!
Written by: Anvesh Pandey, SEBI Registered Investment Advisor
To get in touch, write on [email protected] or reach through www.investocafe.com
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4 steps to choose the best international mutual fund
International funds have been in the limelight lately due to their impressive performance over the last few years. These schemes have a strong case since 90% of the investment opportunities in the world are outside India, said Raunak Onkar, Head of research and fund manager, PPFAS Mutual Fund, at the ET Wealth Investment Workshop in Kolkata on February 28. Onkar asked the participants to follow some basic steps to choose a suitable international fund.
“Even big Indian companies have large stakes in the international markets. So if you are anyway exposed to international markets, why not in international funds,” asked Onkar. He said that diversification is the most important starting point to look at international funds.
Many mutual fund advisors also suggest international funds to equity investors as international investing nullifies the country-specific risks like demonetisation, budget, GST etc. However, Raunak Onkar said that it is important to choose a scheme which gives you a good diversification. “When you are investing in an international fund, make sure to invest in a market that is developed. The markets that have 70-80 years of functioning should be preferred,” said Onkar.
Onkar stressed on the fact that retail investors shouldn’t foray into stock investments in international markets or investing directly in international mutual funds. “Reading fact sheets, understanding complex markets, currency issues and language barriers can hinder the investment process. It is better and easier to invest in international funds- Indian mutual fund schemes that are focused on world markets,” said Onkar.
Here are a few points Onkar want investors to keep in mind when choosing an international scheme:
Choose schemes that are focused on countries with well-developed stock markets: (Countries that have a better and bigger market than India ,so you see less volatility.)
Fund focused on countries and markets with good corporate governance: (Without good corporate governance you scheme will be exposed to a lot of downgrade and default risks)
Investing in countries with a good legal system: (A good legal system in the country prevents businesses from shutting down suddenly or protects your money from scams)
Focuses on strong businesses with long runways (Even if the scheme is investing in a big country like USA which checks all the above boxes, it is important for the scheme to focus on good, long-term businesses to generate returns.)
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How To Invest In Mutual Fund With An Inconsistent Income
No matter how alluring self-employment seems, you have to cope with the irregular income. You can still invest and save even after paying for all your expenses. Do you want to know how to invest in mutual fund? Read on to know more.
When you have a stable income every month, it is much easier to plan your expenses, investments, and savings. However, the number of people who are earning through freelancing, commissions or are starting their own business is increasing. If you are self-employed, you know how challenging it is to manage your finance every month. While you get a fat cheque sometimes, on other occasions the amount may be small.
So, if you are looking for how to invest in mutual fund when you have a fluctuating income, here are some tips that you should try.
Map out your income pattern: Look at the income pattern of your current year or past year and try to map out what your income will be in the coming year. Note down what you earned each month and calculate your monthly average income. When you have an average amount, you know how to manage the monthly expenses. If you want, you can be more conservative and deduct a certain amount of money from the monthly average. That will allow you to fit your expenses, savings, and investments within that budget. So, even if you earn less than expected on a particular month, you can manage. On the other hand, you will always have a bit more to save every month.
Basic budget: When you have calculated the average amount, you should move on to the next step. The next step is to plan your budget. First, there shall be two categories for your expenses. While one of those will be essentials that you cannot avoid, the other will be things that you want to spend in but those are not essentials.
So, for the essential expense, you should consider the rent, the household expenses, travelling to your workplace, mutual fund investment, etc. Buying clothes, dining out, vacations, etc. shall be included in the list of non-essential expenses. There is no point in setting the basic budget for your expenses if you do not abide by the list. You can take help from a financial advisor to guide you through the process.
Even though you invest in mutual fund to get a return from it, investing in mutual funds is an expense for you. So, you can talk to a mutual fund broker in Kolkata and decide the amount that you can invest as per your income strength.
Saving target: After sorting out your expenses you must now set a saving target. If you are saving for your retirement, start early and plan accordingly. You should always save the targeted amount before you could get started with your expenses. Transfer the amount that you want to save in a chosen bank account. If you have an excess amount left in the bank account after six months or a year, use that amount to make further investments.
Invest strategically: When your monthly income is not regularized, you must invest strategically. While any mutual fund advisor can help you out, you should seek guidance from an experienced advisor. Check out nico wealth to know more about investing in mutual fund and to seek guidance as well.
Even though you may have calculated an average amount, sometimes that may not work in your favor. The strategic investment plan will help you in distress. You can invest in mutual funds that offer you monthly income. If you want to know more on that, do let me know.
Now that you know how to invest in mutual fund even with an irregular income, what are you waiting for?
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