Difference between Saving and Investing – A video

March 3, 2014

I got this video link in my mailbox from Franklin Temepleton India. Found it useful so sharing with you people.

https://www.franklintempletonacademy.com/ftacademy/academy/video.page?courseID=CRSINV001&categoryID=CATINV001&nicamp=fta&nichn=ft_emailer&nismseg=difference-between-saving-and-investing_en_em001

Please feel free to share your views and comments and queries as usual.

Advertisements

Claiming money from a deceased person’s Bank account

February 23, 2014

This post is a real life example and solution provided in a discussion in our Facebook group discussion. The original query was, how to claim money from bank account if the depositor has died andnomination has not been registered.

https://www.facebook.com/groups/asanideasforwealth/permalink/598389263565304/

Now interestingly an offshoot query was also posted in the group based upon the above discussion and below is the same.

https://www.facebook.com/groups/asanideasforwealth/permalink/598439230226974/

 

Please feel free to post your queries, views, comments, suggestions on the above discussions.


SBI Max Gain Home Loan – 2nd Video

January 29, 2014

Dear Friends, I have uploaded the 2nd video on SBI Max Gain on my Youtube channel. Here is the link for the same. Please check the video and inform me for your queries, views, comments.

Thanks

Ashal


Transferring PPF account from Post Office to Bank

January 1, 2014

Many a times, people want to transfer their PPF account from Post office to Bank. Not many are aware what to do and how to do. This post is a real life example of one of our facebook group member, Mr. Lalit Tyagi. In his own words –

Over an year or so ago, I have sought advise here on how to transfer PPF a/c from post office to a bank. Well, I have completed the process and here is my feedback:

1. Call me silly or careless, I had misplaced my ppf passbook !!…though, investment in it was very meager (few thousands). To rectify this blunder, the following things were required:
a. Report your loss of passbook in a nearby police station and get your reporting application stamped from that PS. It need not be a full-fledged FIR, just write and application mentioning your passbook loss with a/c no. and get it stamped. That’s it.
b. Fill a form for issuing of new passbook in post office and attach your this ‘reporting loss of passbook application’ alongwith that form.
c. Dealing window person in PO will process and issue a new duplicate passbook to you.

2. Regarding transfer to a bank, inquire from bank of your interest weather particular branch accepts ppf subscriptions. That info. can be obtained from bank’s website also. In my case it was IDBI bank.

3. IDBI bank branch gave an application format, just filled in my name, a/c number, etc….and submitted to the post office where I had a/c alongwith the original passbook. (Note: keep one photo copy of your pass book before submitting). PO also asked to submit one copy of PAN card and address proof alongwith it.

4. PO told, it’d be transferred in one week. … and it actually did. I received a letter from PO by courier, copy to IDBI bank that a/c is transferred. Then I once visited IDBI branch, they gave new a/c number, and on my request connected it with my savings a/c in same branch. They didn’t even ask for any application for it.

5. Now I am able to access my ppf a/c too alongwith my savings a/c online and deposit money too. ….and I like IDBI service in all respects.

That’s all…….

 

Was this post helpful to you in understanding the process? Can you now do it for you or some one else in your family? Please feel free to share your views, queries and comments below.


Saving and Investment

December 31, 2013

Most of the time, I pen out the ideas running randomly in my brain. This time it’s different. This post is dedicated to all my blog readers. I ask all of you to tell me the following.

Are Saving and investing same things?

Are these synonyms to each other?

If these are different, then do tell me what is saving and what is investing?

What ‘ll you define as saving and what ‘ll you define as investing.

Please feel free to pour your thoughts in the comments section below.


SBI Max Gain Home Loan – Video

October 25, 2013

Dear friends, I have uploaded a Video on SBI Max Gain. It’s the very basic video and just the first one on SBI max Gain. based upon your queries, comments, views, I intend to produce more videos to simplify the concept of SBI Max Gain.

 http://youtu.be/wLJDK42GeCM

Please feel free to share your comments as usual.


Importance of correct BLD

September 15, 2013

First of all let me share, what does BLD mean in the title of this post.

B stands for Breakfast

L stands for Lunch

D stands for Dinner

Now my readers may ask, where does BLD stands in the discussion related to personal finance? Before I make any comment, Just look at the picture below.

1176347_146104045598554_714809520_n

What do you people interpret from the above image?

There is an old say, Breakfast like a KING, Lunch like a PRINCE & Dinner like a BEGGAR. Can you people recall all the knowledged shared by Doctors and many others for our food habits? How & what should be our Breakfast or Lunch or Dinner? All that gyan is displayed in this one picture. As the old saying goes, ” A Picture is more than the 1000 words.”

Yes I do agree, a picture is more than the 1000 words. So it’s important to have a good, proper Breakfast followed by a little lighter Lunch & finally the very small and easy to digest Dinner. Now compare it with your financial life, the morning time i.e. Breakfast time is the time, when you are young, just into you first job, without any responsibilities, no dependents. This is the time to start working heavily for your future. Invest maximum part of your income to create a corpus which ‘ll help you in future consumption. The good start made by you during this time ‘ll ease out the pressure from your life in later part.

The Lunch time is actually your middle age, when family size is increasing & from 30s to end 40s you are too busy with family, kids, home loan, car loan, education of kids, career of kids. At this point, you need to assessed your situation & still keep on investing a good part of your income. Your Risk taking ability ‘ll be a bit lower So Debt part in your portfolio should increase.

The Dinner time is actually your pre & post retirement years, where your primary aim is to live a healthy (financial) life. The Debt part ‘ll be higher at this time but still you need a support of light Eq. This is also the time when you ‘ll start redeeming the rewards of your initial hard work. Your risk taking ability is very low or near zero at this point of time and preservation of your created capital is of prime importance for you now.

So What’s your view on CORRECT BLD? Please do share in comment section.