How Differently-Abled Can Plan For A Financially Secure Future Without Prior Education

Why planning finances is crucial for specially abled-01

The country has already celebrated its 73rd Independence Day. However, many still ignore the very existence of differently-abled people, their requirements and their plight, including the importance of financial Independence for specially abled people. Few years back, our Prime Minister spoke about the importance of ‘financial independence’ and ‘financial inclusion’ for a side-lined majority of individuals with special disabilities, so that the benefits can reach to them too. According to Census 2011, India has 2.68 crore differently-abled people who lack the ability to perform any activity in the main stream. That is why planning finances is crucial for specially abled; it is required for their special needs and secured future.

Why is it important to plan in advance?
By prioritising finances and future savings, a person with disability is independent and has a low disposable income left as a huge chunk is often directed towards regular expenses such as treatments, regular checkups and other expenditures on medical care and supervision. All these factors hint towards the need of implementation of a sound and appropriate financial plan in order to safeguard the future not only of one’s own self but also of the family. These schemes are only depending upon one’s investment and risk appetite.

How and where to invest?
A plethora of investment options are available in the market, but the lack of knowledge and drive have kept such a huge mars behind the dark clouds. While saving should be a goal, it is also important to remember to set the investment according to earning potential.

Following are a few places differently abled people can invest in:

Public Provident Fund and FDs
It is often advised to invest in PPF and FDs in order to suit long-term saving needs. But it also requires completing the maturity to withdraw from the scheme. You can withdraw the total amount by paying a penalty. Anyone can invest in the PPF scheme with upto Rs 1.5 Lakh. Also, it helps in income tax redemption where they can get effective return.

PM Atal Pension Yojana
This pension scheme is primarily designed for the unorganized sector working class. The age eligiblity for a person joining the scheme is minimum 18 years and maximum 40 years. After its maturity, joinees will get Rs 5000 monthly by investing just Rs 210 per month.

Pradhan Mantri Vaya Vandana Yojana (PMVVY)
This program has been introduced keeping senior citizens in mind. The pension plan is for senior citizens of 60 years and above. The investment limit of the plan is Rs 15 lakhs and senior citizens will get assured 8% return for 10 years. The modes of pension payment will be monthly, quarterly, half-yearly and yearly. The minimum pension amount will be Rs 1,000 per month, Rs 3,000 per quarter, Rs 6,000 per half year and Rs 12,000 per year. The maximum pension amount will be 10x the minimum amount. The last date to apply for the plan is 31st March, 2019.

Small Cap Funds
A part of mutual funds, small cap funds are the funds in companies with a market capitalisation ranging less than Rs 500 crore. The cap in small cap, stands for a company’s capitalisation. Small cap funds are the ones in which the risk factor is really high, but so is the return. Small Cap Funds give aggressive returns. Fund managers are likely to haver exposure to stocks of small companies in range of 65%-90%. Small cap funds also charge an annual fee, known as ‘Exposure Ratio’, to manage your money.

Multicap Funds
These funds are diversified mutual funds which have the option of investing in stocks across market capitalisation. The Multicap Funds portfolio includes all sorts of funds, which are, large cap, mid cap and small cap funds. multicap funds involve comparatively less risk as compared to mid-cap or small cap Funds. This is because these funds involve mixed risk factors, wherein Large Cap has low risk, Mid Cap has medium risk and Small Cap has the highest risk. However, whereas Large Cap has high stability, Mid and Small Cap have high returns. The investments are done in different proportions to fulfil investment objectives.

Along with debt and above-mentioned government and private schemes, equity and mutual funds are also recommended as they help to deal with inflation while at the same time giving good alphas (returns). All such financial plans are highly accessible by simply consulting an investment professional who would understand the requirements and help to draft a plan which is most suitable as per one’s needs.

Reff. Url:

Investment Solutions For the People Who Don’t Have Enough Money to Invest

People With Lower Incomes Have More Struggles

People with lower incomes have more struggles. They don’t have enough money for investing. In most cases they don’t have enough money left over after paying the expenses of daily life. The old saying says that money to make money clearly says it all. You should definitely have some  money or wealth to invest for the future sake. It is also true that if you don’t plan money management for the future and uninvited adversaries you will have to face big trouble. If someday you won’t be able to work and have enough savings for living that what you will you do in that case. Well to avoid these situations it is very important to plan investments.

We after talking to Best Wealth Management Companies in Delhi NCR put together some ideas for the people who don’t have enough funds to invest. There are many small funding Schemes in which you can invest :-

DRIPS (Dividend Reinvestment Plan)–  DRIPS, allow you to invest small amounts of money into dividend-paying stock, by purchasing directly from the company. Companies that allow you to make regular purchases of very small amounts of stock, and reinvest the dividends. This can add up to a big investment over time and, as you gain a larger balance, you may consider diverting some of these funds into other investments.

ETFs (exchange-traded funds)-  ETFs,or exchange-traded funds, are financial products that track the performance of a certain sector of the investment market. You can buy as little as one share of an ETF through a broker, and some of these ETFs track the performance of the total stock market, the bond market, and many others.

Target Date Funds- Target date funds, as the name implies, target your retirement date by changing the percentage of stocks and bonds to assure that your money remains safe as you approach retirement age.

If you want to hire Professional Financial Services for your business and funds investment you can contact to VSRK Wealth, one of the Investment Services Company in Delhi.

Why Finance Planning is Necessary For Everyone

Why Finance Planning is Necessary For Everyone

Financial planning a need for today

Financial planning in simple term means to plan your money wealth for future. in  Today’s world when everything is so expensive, the expenses without planning becomes a burden. If you will not plan the amount of money and finance you are going to spend in future, then it is gonna be trouble for you. If you run a business and you have the huge amount of money for your company’s funding in that case it is very necessary to hire a financial planner. There are many Certified Financial planner.

If you are a person who works in a company or have a job then too it is very important to do financial management and money planning. You can Invest your hard earned money in several Investment plans according to your amount and suitability. You can invest money in mutual funds, SIP mutual Fund investment, Bonds, Fixed Deposits. You can secure your future as well as your family and children’s future by taking Insurance policies.

Planning and investing your money can also be useful in saving the amount of taxes. There is a rebate in paying tax when you invest your money. So investment saves your money in many ways.

Financial planning should be started by everyone in early age. The more early you will plan your finance and start investing, the more benefit you will get in your future. Planning of finance gives you a security and leads you to live a better livelihood. It can give you to live your life more freely without worries of the changing financial situations. Financial planning also gives you a protection against any adversary.

You can contact best Financial Advisory firms in Delhi to plan your financial decisions. There are many Wealth Management Companies in Delhi NCR which provides many financial solutions. VSRK Wealth is the Fastest Growing Financial Services in Delhi. Which provides best financial products for all type investors. So start planning your Finance now.

What is the difference between Financial Planning and Financial Management

Financial Planning And Financial Management Are two different terms. People think these are similar, although the objective of both are same but still there is a difference between them. We have find out  the difference between Financial Planning and Financial Management after talking over with the Best Financial Planners in Delhi.

Financial Planning– Financial Planning Is the process of planning your finance for Future.  Financial Planning is the task of managing that how a business or individual will afford it’s finance, complete its future goals and Objectives. It is the process of determining that how an organization will achieve it’s financial aims. For planning your finance it is not necessary that you should have finance or money at the time of planning.

Objectives of Financial Planning-

Financial planning is done to achieve the following objectives-

  1. Financial planning helps in ensuring the requirements of funds whenever they needed.
  2. Financial Planning helps in controlling the wastage of funds in unnecessary resources.
  3. Financial planning reduces the risk of  uncertainties in changing market trends.
  4. Financial planning helps in obtaining the right financial Schemes for those resources which will be beneficial in Long-term.
  5. Financial planning helps in Delivering the funds at the right time at the right place.

Financial ManagementFinance And Money is the Vital need of any business and Organization. The source of finance is always limited. So therefore it is very important to manage finance in a right manner. Financial management is the process of planning, organizing, controlling and managing financial resources, with the aim of achieving all financial goals of organization.

Objectives of Financial Management-

The financial management is generally related with procurement, allocation and control of financial resource. The main objectives are-

  1. Financial management helps in ensuring the  regular supply of funds to the related concern.
  2. Financial management ensures the optimum utilization of funds.
  3. It helps in investing in safe areas, so that the great R.O.I. can be achieved.
  4. Financial management helps in  planning a good Financial Structure. There should be maintained  a fair balance between the debt and Equity Capital.
  5. Proper finance management helps in Maximization of Wealth and  profits.

Difference between Financial Planning and Financial Management- Although Financial Planning and financial Management are very similar. But still there is a difference. According to Financial Business Planner in Delhi The main Difference between Financial Planning and Financial Management is that you can plan your finance and financial goals for future, whether you have not money or finance at that time, but for financial management you should already have wealth and money to manage.

VSRK Wealth Creator is one of the Best Financial Distribution Company in Delhi. For effectively planning your funds and Finance you can also consult mutual fund services.

How are Fintech Companies creating disturbance in Banking Sector?

Times have changed and the technology has also challenged the status quo of the Financial Sector. The bombardment of mobile payment apps, online shopping, investments, mobile to mobile banking has made a tilt shift of 180 degrees in financial arena. The Banking System has been confronted by this new idea of Fintech Companies which are spreading its roots in India. People now-a-days to avoid paper formalities and finding ease of access through the internet, are switching from Banks to these Fintech Ventures.

Mobility has played a vital role in financial revolution. In this fast-paced World, one needs all the information and services on their smartphones. Financial Services traditionally needed an infrastructural setup (branches) and fixed assets to raise their entry for customer retention. While technology advancements now allow Fintech startups to virtually operate to deliver complex financial solutions. The digital transformation coupled with mobility gives the ease of excess to their clients who initially were forced to wait in long queues for making a deposit, requesting a check-book or conduct trades. That’s where these Fintech Companies earn trust and credence from the public at large giving flexible and adaptable options to their customers.

 

Ways how Fintech is creating disturbance in Banking Sector

Fintech venture opens the door to choose between various and multiple schemes which are available in market. Whereas, mostly bank can only promote their own products. Fintech not only offers numerous plans like mutual funds, pension plans or insurances but with the help of various tools and artificial intelligence draws a comparative analysis chart for the customer which eventually aids them to choose the right plan/scheme for their financial goals.

These Fintech Giants have incorporated the pop of online transactions and use of digital wallets, which eventually has made our life trouble-free than those times where we use to trade goats for wheat. Old fashioned banking transactions have been losing its charm. Today these e-wallets allows anybody to transfer funds from any place on the planet to any person having a mobile phone. This provides a faster, cheaper and more reliable way to transact than conventional banking system. Customers like to experiment with new methods offered by Fintech players which aids them track their payments, passbooks and account balance more transparently on their smartphones. In recent years we have also seen a rapid growth in block-chain, crypto-currency which has taken toll in the financial world by providing a swift way to transact.

Fintech players also empower customers with mobile applications which time to time notifies Portfolio Insights, Tracking of Goals, etc. This contributes customers to get information about their investments and holdings. The inheritance of Mobile Application embodies a platform which personalizes with each and every customer which mostly Bank fails to deliver. With all the statistics and data on one’s fingertips, customer is always updated. Neobanks are a very refined example for the same. In this digital sphere, Fintech endeavours from customer support chat-boxes, machine learning algorithms and biometric fraud analysis which attracts customer’s confidence.

Fintech ventures also promotes machine-learning through artificial intelligence which keeps a track of money laundering. These security software alerts while making any fraudulent payment or any virus attacks, which aids in check and balance of every transaction. Biometrics, facial recognition, iris scans and voice pattern adds a layer to the security system which increases the authenticity and reliability.

Financial Advisor in delhi ncr

– This article has been contributed by Swapnil Aggarwal, Director, VSRK Wealth Creator

 

Reff. Url:- https://goo.gl/WL8EFW

Fill the form for further inquiry


This will close in 0 seconds