Page 8 - Guide To Personal Finance

Rebalance portfolio, avoid overexposure or complete exit from equities

Book profits in mid- and small-cap segments, allocate money to fixed income and gold

Leverage HUF to max tax benefits by distributing income, availing deduction

By distributing income and availing of deductions, it can facilitate tax savings

Be warned: Restarting stalled vehicle in a flooded area magnifies damage

In flood-prone areas, engine protection, zero depreciation, and roadside assistance riders are must-haves

Bank held liable for delay in insurance purchase

The National Commission observed that procrastination by the bank in deducting the premium, despite having obtained authorisation, had led to a delay in policy issuance

Children's fund: Lock-in is useful if you tend to exit amid high volatility

Before investing, understand the fund's portfolio composition, and whether it suits your risk appetite and horizon

With small & midcaps outperforming, direct more money to largecaps: Experts

Rebalancing by allocating more to an underperformer will help you avoid tax liabilities

NPS: Select and switch fund managers based on long-term performance

Monitor seven or 10-year performance and switch if underperformance persists for two years

Special Marriage Act: Only wife entitled to permanent alimony & maintenance

Children of marriages under this Act are not entitled to a share in ancestral property, only to parents' self-owned or inherited property

Three financial planning mistakes experts make

Your financial plan should not be based on slogans or catchphrases. Instead, keep asking why till you agree with the rationale behind your plan

2.5% interest, tax exemption on maturity make gold bonds attractive

But there's a lock-in of five years and investors lose tax exemption if they exit prior to maturity

Update your nominations, review credit report before the year ends

Ensure that loans are properly closed and documents submitted to the lender returned

Sectoral, thematic funds: Investors should avoid extrapolating past returns

Such behaviour leads to chasing funds that are past peak performance

US Federal Reserve's potential 2024 rate cuts may extend rally in silver

Investors must, however, be prepared for greater volatility in white metal

Upbeat outlook amid stable credit environment, high portfolio yield

Take moderate exposure to these funds, given the potential for defaults and downgrades in their lower-rated portfolios

Sovereign green bonds for NRIs offer credit-risk-free returns in long term

Investors should be mindful of exchange rate risk and limited liquidity in secondary market

EV insurance: Ensure all-round protection for battery with add-on cover

Return-to-invoice, zero depreciation for major components are must-haves

Retirement planning for self-employed: Invest in NPS, PPF and MF SIPs

Instead of reinvesting all surplus in business, invest a part in accumulating a corpus

Plan in advance for high costs of IVF, surrogacy; consider insurance

Couples opting for surrogacy must bear medical expenses, buy health insurance for the surrogate

Go for gold bonds if you have long horizon, ETFs if you need liquidity

Buy jewellery for consumption; it is inefficient for investment purposes

Planning to buy a car? Minimise tenure, maximise down payment on loan

Selling the old car independently, rather than going for an exchange offer, may fetch better value