May 23, 2018

Secure Your Child’s Future with the Best Buying Tips

Child Future with the Best Buying Tips
Child insurance plans are specially designed for growing child so as to meet their increasing costs of education and other financial requirements. It provides risk cover related to the life of child throughout the policy term and during extended term, that is seven years after the expiry of the policy term. As the education cost is growing rapidly, it is essential to have a child insurance plan for the better future of your child. This is the plan that will help you provide your child the best education and ensures the cash flows even at the crucial stage of your child’s life.

It is better to start early, while planning for your child’s needs, this way you will have a wider scope to meet financial requirements of your child’s education and marriage. As a parent, you need to have an idea how much money will be needed, and when it will be needed, on the basis of future plans for your child. Understand various financial products, to opt for the right investment option to meet every financial goal set for your children’s better future.

Tips to remember

• Start your financial planning as early as possible to secure your child’s future. Child plans mostly offer maturity benefits, the payouts are released from 18 years onward. It provides a wide scope to invest, allowing you to build a corpus. Choose a plan that allows long term investment.

• You need to understand that in child plan, the funds will be utilized in future only. So, it is the time to estimate the inflation and rising cost of education. This way you can invest wisely and build a good corpus. Also, know when you need to get the returns.

• Invest in a child plan that offers premium wavier benefit. This allows the child plan to continue even in the case of demise of policy holder. The child will be covered with all benefits, even if something happens with parents. The maturity benefits agreed upon will remain same as planned for the policy term.

• The premium amount will depend on the assured sum and the maturity amount decided by the policy holder.

• It is beneficial to know the different premium payment modes. You can also opt for one-time payment. Or you can pay premium half-yearly or quarterly.

• Invest in a plan that is a proper blend of growth and debt funds. And also a balanced mix of capital protection and growth.

• Decide a plan having system transfer option to assure that your profits under the plan ae well protected. Take proper risk cover option to ensure the death benefit is a considerable lump sum, which can help your child and your family.

• The policy term you choose should be aligned to the financial requirements of your child at different stage of his or her life.

• Consider the total sum assured that would be needed at the time when the plan matures and invest accordingly.

• There are various child plans available that suit your budget and needs. Compare the plans available before purchasing them. Choose the best plan according to your requirements.

Ways to invest your money

1. Stocks:
Teach your child about managing their finances at an early age, and the same should be in the case of stocks. Even though the stock market is volatile, equities can help you meet your financial goals in the long term. Invest a part of your child’s pocket money in shares on his behalf. This will build a portfolio for your child.

2. Fixed Deposits:
FDs generally offer a higher rate of interest to investors in comparison to traditional savings bank account. It is easy and quick to open a FD account. You can open a FD account for your child which will build the habit of saving in them. FDs also assure returns on your investment.

3. ULIPs or Endowment Plans:
ULIPs are an effective low-cost investment option. Some of them are even cheaper than mutual funds. It provides risk cover along with options to invest in various investment options like stocks, bonds or mutual funds.

4. Mutual Funds:
These are simple to understand and offer a great choice for investors with limited knowledge, time and money. Mutual Funds buy and sell securities in large volumes, which allow investors to reap benefits from low trading cost. On a regular basis, an individual can start with a minimum of Rs. 500 in SIP.

5. Life Insurance Plan:
You can name your family members as beneficiaries in your insurance plan. This will help your child have a strong financial future and serves their monetary needs, as and when required. A life cover protects your family in case of any mishap. This helps you pay any immediate expenses, like, medical bills, home loan EMIs etc.

It is wise to be financially prepared, as life is not certain and this can provide support to your child. Keep various factors in your mind while planning, monthly investment amount, maturity dates, consulting a financial expert etc. Invest regularly, monitor your investment and achieve your financial goals.

May 21, 2018

Best Evergreen Strategies That Drive Successful Entrepreneurship

Business Strategies for Successful Entrepreneurship 2018

Business can never be stagnant, especially when you have so much going on around the market. It is also quite easy for an entrepreneur to get overwhelmed with the challenges revolving around their selected industry. Not one industry is spared from the flexibility! However, to get accustomed to the changes, you have to cool it down and stay focused. That’s the only key towards success. There are some selected and much-needed strategies for entrepreneurship, which might help them to get going with the challenges that might hit their way. These strategies will help them to stay prepared beforehand.

Study your competition well:

Being an entrepreneur is not easy, as it calls for a lot of challenges in every sphere of your life. The first thing to consider is to understand and know everything about your competitors. You have to understand the rivals well and their products or services, they are dealing with. It will help you to mark the market better and to know what to add to gain that vital top position. Try checking on their strengths and use that in your mode. On the other hand, do not forget to check their weaknesses and hit them hard on that. Their weaknesses will be your advantage.

May 15, 2018

5 financial preparation tips for buying a new house in 2018

Tips for buying a new house in 2018
Buying a house is one of the biggest purchases that you will make in your life. Once you decide to buy a house, the next thing is to be well prepared financially. The purchase process seems simple: 1. Like house 2. Put in an offer 3. Offer accepted 4. House owned. In truth, the process of “How to buy a home” involves quite the details. Specifically revolving around finances.

Here are 5 major financial preparation tips to note when buying a house in 2018.

1. Save for the deposit

The minimum requirement for a deposit is 5% of the property value. The higher the deposit you set aside, the better the deal you get when borrowing money from lenders like banks. Home buying tip number 1 is, save for the deposit. Start now.

One of the best ways, for those under 40, is the Lifetime ISA or LISA account. £4,000 a year and when you buy your first home, the government will add a 25% bonus. Which means you have £5,000 (before interest) to use as the deposit.

If you are 40 and above or don’t want to wait for the minimum 12 months that you need to have a LISA, you can use the Help to Buy ISA. You can apply for the government bonus once you have saved £1,600. For full benefit though, even Help to Buy ISA is effective only in the long term.

Understand your requirement and choose accordingly.

May 29, 2017

What Is A Trust?

What Is A Trust? Tax ID
Trusts were traditionally businesses with significant market power. However, this term has gained several new meanings in modern economics. Here is what you need to know:

A Trust Explanation: A trust for a business’s purposes is a legal entity, which can be a company or person that can manage, and administer another company’s assets. The trust company acts as an agent for the other company within the guidelines that are set by both parties. Trusts also exist for individual purposes. For instance, if a minor is set to inherit an estate, he or she would be overseen by a trust- who in this case can be a group or individual who has been given specific instructions on what to do, and not do, while acting in the minor’s best interest.

What do Trusts Actually do?
In addition to simply holding assets, a Trust can help with the investment and asset management. Working with a Trust can be very helpful if you are growing a small business and are looking to break into the larger market.

May 10, 2016

5 Immediate Steps to follow if you have had a Car accident

Are you looking for auto insurance?
It is extremely stressful if you are involved in a car crash. Whether you have caused it or not, is not the question of the moment. If you are involved in a car accident, you should first follow a basic set of rules to ensure that you are in the all-clear, physically as well as mentally. Many people start worrying about insurance the moment they are involved in an accident. Whether you are looking for auto insurance in Garden Grove or Orange County, it doesn’t matter. What matter is that all the parties involved in the accident are fine.

Those who are in such high-stress situations are normally confused and do not know what to do. If you are unsure, always call 911 (in USA) to the scene and seek the assistance you need. Do not try to handle the situation on your own as you might be in shock and will not realize the dearth of the situation.

Sep 14, 2015

Top Tips for Saving on Home Insurance this Winter

Top Tips for Saving on Home Insurance this Winter
via gettyimages
With winter fast approaching, home owners are flocking to secure insurance for their properties. It’s no hidden fact that catastrophes can cause unexpected damage to all areas of your home – and insurance is one of the only ways to cover yourself against unexpected damage.

Sure, there are lots of things you can do to reduce the chance of the weather getting the better of your home, but sometimes, as unfortunate as it is, Mother Nature can’t be helped nor stopped. However, as long as you do your best, you can reduce the likelihood of having to claim, thus keeping your premium low for years to come.

Feb 23, 2015

Be your own advisor when it comes to personal investment plans

Be your own advisor when it comes to personal investment plans
Image via gettyimages
Growing personal wealth always has to begin with a plan, and also the simpler the strategy is, the better your chances is going to be of following through and which makes it happen. Too many people begin motivated to create a change in their own financial life, and also have a super driven and overly complex plan. The problem with this particular approach is that after things start to obtain a little hectic, a complicated plan is simply too hard to stay with. So here is an easy plan for gaining control of the financial life as well as increasing wealth.