I am a 65-year-old retired engineer and live with my wife, 58. Both my children are married and well-settled. My wife and I have a mediclaim policy of base value Rs 1 lakh each (now approximately Rs 1.5 lakh). We would like to be financially independent all our lives. Advise me as to any change required in my financial plan, particularly with regard to regular investment in mutual funds.

Invest in fewer schemes

Business Standard

I would like to invest in gold via Systematic Invest Plan (SIP ). Please name some schemes.

Gold ETFs don&#39;t offer SIPs

Have a buffer, start small and then scale up.

Look before starting out on your own

All offer documents of fund houses run a mandatory declaration: &ldquo;Mutual funds are subject to market risk. Read the offer document carefully before investing.&rdquo; But &lsquo;market risk&rsquo; per se is not all that the investor should be worrying about, especially those who are investing in an existing fund.

Size does matter, sometimes

Loan offtake at the country&rsquo;s largest lender, State Bank of India was &ldquo;bad&rdquo;, said Managing Director SK Bhattacharya.

Loan offtake poor, says SBI

When Vidhyut Sampath asked his mutual fund distributor for schemes in which he can invest, he was advised two equity-linked savings schemes. When he asked the reason, the agent said these would soon declare dividends. It was almost as if the scheme was giving a bonus to investors. But the reality is far from it.

Don't get lured by MF schemes' dividends

Most people think that small investments will lead to lower risks. But the returns are adversely impacted.

Low investment, low returns

the right scheme and occasional shifting will ensure safety with returns.

Investing for children is no child's play

While investing in realty stocks, here are a few things that you should look at.

Analysts' pain, traders' delight

When Sandeep Lakhotia met with a road accident last year and broke his leg, he was secure in the knowledge that the medical expenses would be covered under the accident insurance provided free with his credit card issued by a foreign bank.

Credit card: Devil is in the details

These days, you will see few fund houses promoting their monthly income plans (MIPs). With returns improving due to the stock market rally, MIPs have started looking more promising.

MIPs: Good last option for retirees

I am employed with a private firm in Bangalore. My company credits our salaries in a private bank. Last month, Rs 32,500 was debited from my account as credit card dues. I was shocked to see these charges because I do not possess any credit card. I spoke to the personnel at the bank&rsquo;s helpline and was surprised with the reply that &ldquo;the bank has exercised its right of lien and set off recovery of its dues&rdquo;. I have sent a detailed letter to the bank 15 days back explaining that I have neither a credit card nor have received any credit card statement. However, they have not responded yet. Kindly advice.

BEBT COUNSELLING: Vinod Kulkarni

The annual maintenance charges for subscribers of the New Pension System (NPS) may come down by Rs 70 from April.

NPS annual fee may come down by Rs 70

State Bank of India (SBI) today announced a 25 basis points reduction in deposit rates across maturities as part of its latest attempt to lower cost of funds and improve its net interest margin (NIM).

State Bank cuts deposit rates by 25bps

But cross-verification would be needed with price breakouts.

Moving averages: A reliable tool

The 60s are the new 40s. You can stay fit even after crossing six decades of your life by following a routine of exercise, morning walks and eating healthy. Still, at this juncture of life, the fear of failing health persists. And many a time, such fears come true. To overcome such a situation, the solution is health insurance. Medical insurance enables senior citizens to pay for health checkups, emergency medical costs and long-term treatment. It is provided through several private insurance companies and public sector general insurance companies.

Check the combinations on health cover for senior citizens

You will have to pay income tax on items that cost over Rs 50,000 and have been given by a non-relative.

Gifting made unattractive

returns in Mutual funds get adversely impacted by currency movements.

Exchange rate and your portfolio

Tata Capital, the non-banking finance subsidiary of the Tata group, has cut its auto loan rates by 50 basis points to 10.5 per cent. The revised rates will be applicable to all new car loans till October 31, 2009. The offer includes a waiver of processing and foreclosure charges.

Tata Capital cuts auto loan rate

The investment company, which recently expanded its branches to Bangalore and Chennai, has logged in 41,000 SIPs worth Rs 6 crore, as of September 2009. The company plans to generate total 60,000 SIPs by March 2009. &quot;We recently logged in over 40,000 SIPs and plan to touch 100,000 SIPs by March 2011. The investor sentiments have been better this year as compared to last year, even if some people are still sceptical about investing in SIPs as most are waiting for correction,&quot; said Sanjay Shah, MD, Prudent Corporate Advisory Services Ltd.

Prudent CAS aims 100,000 SIPs by March 2011

Many smart buyers wait for the year-end to buy a car. Auto makers and dealers come up with the best discounts in the month of December to clear stocks. But if you are planning to buy a car any time soon, the current festive season could be an equally attractive opportunity, thanks to the availability of cheaper finance.

Car loans: Just rates are not enough

Personal Finance: Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

Personal Finance: Investing, Planning, Retirement, Loans, & Insurance | Business Standard

Read about the smart strategies for Personal Finance Planning, Investing, Insurance, banking, budgeting, loans Tax Planning, retirement and insurance. Browse Business Standard to learn more on Personal Finance.

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