Finance Minister announced the much awaited budget on 28 Feb 2013 as planned. Following is the impact on you as an individual.
As a Tax Payer
If you are earning upto Rs. 5 Lakhs annually, you will be entitled to a tax credit of Rs. 2000.00
Every year, during the last quarter of the financial year, we start worrying about the tax liability and ways and means to save tax. Tax planning should be part of an individual’s overall financial plan. If the financial planning is done properly, we do not have to worry about tax liability and thus save ourselves from investments in wrong product(s).
No precious metal is as legendary as Gold. Its beauty has provided it with status as a valuable commodity throughout the history of humanity. It has always been used as a monetary standard and for ornaments dating back centuries. And it continues to remain the most essential component of jewellery being the precious, most malleable and rare metal.
A legally enforceable declaration of how a person wishes his or her property to be distributed after death. In a will, a person can also recommend a guardian for his or her children. Also known as a “will and testament” In it you declare who gets your belongings and assets when you die.
Historically, investments in equities have generated wealth for the investor over a long period of time. It is generally perceived that small amounts of money are not worth investing. Small drops make an ocean similarly small amount of money invested with discipline creates a good amount of wealth. Also I have come across people who feel that wealth is only for super rich people. Anyone can build wealth with discipline and patience.
Actions by Federal Reserve, European Central Bank and Bank of Japan during the last few weeks have brought the liquidity in the markets. After a prolonged policy paralysis, Government of India too finally took important and tough decisions to hike the diesel price and reduce the subsidy burden on cooking gas. Immediately after this, FDI in retail, airlines, broadcasting and insurance was announced. All these decisions have led to a boost in investor confidence.
Entry loads for all mutual fund schemes were abolished in August 2009 by SEBI. This resulted in lot of Mutual Fund Distributors/Independent Financial Advisers quitting the MF distribution business. After realizing that mutual fund industry is not growing and the investments are declining, SEBI has issued various guidelines to “re-energise” the Mutual Fund Industry. Some of the changes are as follows:-
First think why you need to retire early or be financially independent. Financial independence means having a lot of time to do what you enjoy doing without having to worry about your daily living expenses.
Life Insurance is a very important component of every individual’s financial planning.
