The Magic of Compounding

Napoleon Hill author of best seller ‘Think and Grow Rich’ is often credited as saying that ‘Make your money work so hard for you; so that you do not have to work for it.’ Various books have been written on the art and science of making money based on more or less the same principle. Mathematically speaking ‘Make money work for you’ is called as compounding or simply compound interest. Albert Einstein was amazed by the power of compounding and...

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6 Things Millennials Should Do Now That Will Pay Off Big Later On

Getting started as a saver and investor can be a tricky balancing act. You have bills to pay, student loans to settle, and a career to jump start. You have to create a cash cushion for emergencies at the same time that you are being urged to salt away money for a far-off retirement date. Here’s some smart advice on how set your priorities. Adapted from “101 Ways to Build Wealth,” by Daniel Bortz, Kara Brandeisky, Paul J. Lim, and Taylor Tepper,...

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Seven product combinations for different financial needs

A variety of ingredients come together to make a complete meal. In personal finance too, it's about getting the mix right.  Here are seven product combinations for different financial needs for you to consider. 1. Tax Planning ELSS + PPF + NPS When choosing products under Section 80C, opt for a mix that will not only help you preserve capital and save tax, but also make your wealth grow. ELSS gives the benefit of superior wealth accretion...

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5 Retirement Planning Mistakes and How to Fix Them

It's not too late to fix a retirement planning mistake. No one's perfect. If you've messed up your retirement planning, here's how to get back on track. The average 65-year-old man retiring this year can expect to have another 17 years of living in front of him. For a woman, that number jumps to 20 years.  That’s a lot of time to travel the world, enjoy hobbies and make memories with family and friends. On the other hand, it can...

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10 Financial Tips to Become Wealthy in Life

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