Common financial mistakes by people in 30s

Once in 30s, you often look at career and social growth & this makes you susceptible to making several financial mistakes.. What are some common financial mistakes people make in their 30s?

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Rising medical costs and retirement

As humans strive to live for longer, the probability of need for medical interventions is also increasing. Since a significant chunk of this enhanced lifespan may be spent in retirement, one needs to be adequately prepared for paying for such interventions! If recent history is anything to go by, medical expenses grow at a much higher rate than inflation.

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How can you start investing?

How can you start investing? – This is a question which several wannabe investors have. These may often be wannabe serious investors, or just someone who heard of investing and wants to get started (and different types of people in between!). It might just be indicative of the general inertia while investing.

So – how does one start?

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Right questions to ask while choosing a financial advisor

When it comes to financial advisors, there is a lack of clarity on what financial planners do. Some of the common questions are – How much do they cost? What is the final product – a report and a set of actions points? Or do the advisors also manage the KYC, account opening and investing process? Here is a set of questions you should ask an advisor to figure out if they suit your needs.

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Mistakes to avoid in tax saving investments

What are some mistakes to avoid while choosing tax saving investments? There are plethora of tax saving options available (Most of the tax saving options in India are under Section 80C). However, very few people bother to understand how these investments works and what suits them.  This leads to people getting drawn towards investments which […]

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Concentration risk while investing

Concentration risk is the risk which an investor faces while investing in only few assets and not diversifying enough. It can be concentration in a single asset class (e.g. – all equities or real estate) or single or few investments within one asset class (e.g. – buying just 2 stocks for entire portfolio!). If everything goes well, this concentration can be very good for you. But it requires things going wonderfully well for that asset class and your specific investments. But, as you think of placing concentrated bets … are you aware of the risk? What if the asset class/ investment you have been bullish upon, doesn’t do well? Here are some ways the concentration risk while investing can play out.

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Common mis-selling in financial products

Mis-selling in financial products – There is nothing new or uncommon in this. Yet we often fail to realize this – or realize it after it is too late! It is not uncommon to hear stories where people bought product because a friendly uncle or friend or bank’s relationship manager (RM) or investment adviser suggested. […]

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When buying life insurance doesn’t make sense?

Getting a term life insurance is one of the initial steps towards planning your financial life well. And rightly so. A good insurance cover can help manage financial risk that your family can potentially face in case of a breadwinner’s death. In case of death of the insured person, the family is paid a certain amount (sum insured) by the insurer. In return, the person buying the insurance policy has to pay a certain fee to the insurer – called premium.

Counter intuitive it may seem, but life insurance is not sacrosanct. It is not always necessary to have a life insurance cover. Here are few situations, where buying a life insurance  policy may not make sense.

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