Savings Must ?

Senior people at loss as Bank FDs intrest less. Now any type of Mutual Funds ,Liquid Funds prone to Stamp Duty. Gains for LTCG. Dividends TDS! SCSS etc Long duration with reduced yields! Is Saving a Crime? Only then any one has buying Capacity. We can not hoard GOLD ! Even Gold bonds are Taxable ! Please suggest to LIVE & LET others too LIVE normally
Thank God I continue in NPS till age 65!
Sathyamoorthy Retd BSNL Trichy. more  

View all 7 comments Below 7 comments
I think present Govt is not taking proper care of its Senior Citizens.Specially those who are Non pensioner.Interest and other income is falling every year and Inflation is adding every year.
Govt must look in to the Financial Grievience of Senior Citizens. more  
Pathetic situation as banks are giving FD Interest starting 3.05% PA and on this TDS will also be deducted. So in fact if you take into consideration inflation then public is loosing their hard earned money by believing it is safe in Bank FD. Its much better to take calculated risk with proper Risk Reward ratio and go for investments in Bonds, MF, Equity and Gold ETFs. One may have average annual return of 8-10 % without TDS till you redeem it. more  
A lot of saving is required to have reasonable returns from invetments more  
Every day the policy is changing of Bank. It's better to consumption not to deposits money. Bank is not for common people for customers services. Its main aspect how to make money by harassment. more  
It is true. Government, PSU employees most of them, in the past, never even spent some time about investment, inflation, real return on investment and so on. Many want Pension from Government.The life after active earning or retirement has increased by at least 20 years. Pension to the retired person, from the taxpayer money, as Government cannot earn money equal to pension disbursed. Mr Satyamurthy done good thing in investing in NPS.
It is important for everyone to understand to some extent about the time value of money, that is purchasing power in future. Good example is that one cannot buy the same product with same amount of money. Like, Gold, petrol, osmetis, food products and so on.
It is important to save from the beginning of the employment to know about investment to be Financially independent after retirement. Investing depending on what for and when and how much required. Other factors to be considered are the age, their financial commitments, dependants. Seek some advisors / experts advise. Know about the type of investment risk involved and what is it one looks for. The return and risk go together.
Mutual Fund is one good option and what scheme one investing depends on the return expected and risk one can take. Many schemes are their and one has to choose depending on the need. for shorter term like one/two year safety is important. Longer period over 5 years one can take some risk to get better return or wait for some more time to get the benefit of higher return.
While one can approach an financial advisor, there is need to understand the investment strategy more  
Post a Comment

Related Posts

    • Waive off Tax for the Covid-19 period!

      Covid-19 has affected almost all citizens and residents of India. People are jobless and businesses are either shut down or in a loss. People are unable pay their EMI's. Loan moratorium relief was ...

      By Suhail Sayed
    • Now report these in income tax

      Additional transactions to be included under the reporting standards of income tax include: Payment of rent above Rs 40,000. Payment of educational fee/donations above Rs 1 lakh per...

      By Aditi Jain
    • Newz 26 AS form

      CBDT has recently brought out the new form 26AS for ease of filing of Income Tax Returns(ITRs)by taxpayers.The new form is a faceless handholding of taxpayers,to help them with updated financial t...

      By Aditi Jain
    • Wrong TDS entry in Form 26 AS

      Need urgent advise from some one please - In my Form 26AS for assessment year 20-21, some entries of TDS has been shown under section 194C by some one with whom I never had any dealing. Moreov...

      By Brij Gupta

      LIC being a very big insurance company, why not they look into the possibility of making the changes in the existing policies, like change in address, name change, bank details etc. ONLINE. When on...

      By Hari Shenoy
    • Bank's refusal to honor agreed FD interest.

      Dear members, I am Sekar and new to In 2014 I booked some 5 years fixed deposits with a private bank, due to their higher interest rate promised to me. During matu...

      By Sekar Rg
    • DEAF Account

      It often happens that people don’t share even the basic financial details with their family members. In case of any untoward incident, the family members are left in the lurch as they are una...

      By Aditi Jain
    • Tax on dividend

      I fully agree with the circle member's claim to approach the FM/PM, requesting to remove the senior citizens from taxing 10% on the dividend received on the Mutual Funds. In fact the present level ...

      By Subramanian Sekaripuram Ananthakrishnan
    • Benefit of new tax regime for 13L+ salary earners

      Most of the salaried individuals with gross income of ₹13 lakh or more and non-salaried persons with income of ₹9.5 lakh or more will get to make tax savings if they sign up for the new lower incom...

      By Satvik Singh
    • NRI income in zero tax domiciles taxable in India

      NRIs living in zero tax domiciles like UAE (Dubai Sharjah & also Bahamas etc) will have to pay tax in India. And now all those who (partly) moved to Dubai recently to evade taxes are stuck.

      By Aditi Jain
Enter your email & mobile number and we will send you the instructions

Note - The email can sometime gets delivered to the spam folder, so the instruction will be send to your mobile as well

Please select a Circle that you want people to invite to.
Invite to
(Maximum 500 email ids allowed.)