@shyamsek

@shyamsek

Dr. Mukul Agrawal

@themukulagrawal

Top 8 Outstanding #PersonalFinance Rules will save you 💹 4X more Money.

1. Rule of 72 - (2X your Money)
2. Rule of 114 - (3X your Money)
3. 40% EMI Rule
4. 3.4 Cr Retirement Rule
-
-
& More [A Thread]👇 ...

#money #investing #moneyrule

1/ Rule of 72 📌

This rule will tell you how much time it takes to 2X your Investment.

By dividing the number 72 by the annual rate of return

➡️ Investment - 2 Lakh
➡️ Rate - 6%
➡️ Divide - 72/6 = 12 Yrs.

Your Rs 2 lakh will become
Rs 4 lakh in 12 years.

2/ Rule of 114 📌

Same this Rule will tell you how much time it takes to 3X your Investment.

➡️ By dividing the number 114 by the annual rate of return

You can use the above method for calculation.

Read 11 tweets

ithoughtplan

@ithoughtplan

The actual cost of delaying an #investmentdecision is often unknown until one notices a shortfall in their corpus.

This often prevents one from achieving your goals on time.

Let's explore the cost of delay with an example. (1/n)

#financialplanning #financialgoals

Let's say you are 15 years away from retirement.

After retirement, you require ₹60,000 per month in expenses (in today's value) to live comfortably. (2/n)

#retirement #financialplanning #savings #investing

The final total goal amount that you require to sustain yourselves through retirement is ₹3 Crores. (3/n)

#retirementcorpus

Read 12 tweets

ithought

@ithoughtadviser

@shyamsek

Here is this Week’s Market Wrap 'FOMO & False Starts' written by @shyamsek

A Thread (1/n)

#stockmarket #investing #personalfinance #FOMO #marketwrap

The markets go up too quickly when people are least prepared for it. That setting is perfect for us to get that fear of missing out. We call it the FOMO feeling. (2/n)

#stockmarket

But the markets also have an equally strong way of reversing direction. Either in stock price or in a broader market context. (3/n)

#stockmarketindia #stocks #equity

Read 13 tweets

ithoughtplan

@ithoughtplan

If you ever wondered...

"Do I need a Financial Advisor?"

...this thread can help you decide!

Read on! (1/n)

#financialadvisor #financialplanning #financialgoals #personalfinance #thread

Before we begin, reflect on these two questions...

When choosing between two similar investment options, have you ever wondered which one you should pick?

Ever wondered if an #insurance policy could protect your family or if it was just bells and whistles? (2/n)

#investing

These are the exact situations in which a Financial Advisor can help do away with uncertainty and help you make the right choices for YOU!

Here are 4 ways how a Financial Advisor can help: (3/n)

#financialadvisor #financialplanning #personalfinance

Read 13 tweets

ithought

@ithoughtadviser

@shyamsek

Here is this Week’s Market Wrap

'2023: The Year to Show Conviction' written by @shyamsek

A Thread (1/n)

#stockmarket #investors #marketwrap

The markets seem to be progressively losing steam. This would show up as weak sentiment, selling pressure, lower volumes on exchanges, and FII outflows. (2/n)

#stockmarketindia #FII #investors

But, there is also a section of domestic investors showing remarkable resilience and persistence in their investing. They are still buying every dip and gradually scaling up their portfolios. (3/n)

#investing #portfolio #equity

Read 13 tweets

select_finology

@Select_Finology

UPI vs Credit Cards ⚔️

Feb 2017 -
• UPI - 1,900 Cr
• Credit Cards - 28,740 Cr

Feb 2023 -
• UPI - 12.3 Lakh Cr
• Credit Card - 11.9 Lakh Cr

The two payment technologies are duelling for the same space

Here's why credit cards are growing ⤵️

1/5
It's largely due to reward points 🏆

In recent years, banks and credit card companies have been offering more and more lucrative reward programs to attract customers to use their cards 🤩

2/5
These rewards can include cashback, discounts on purchases, travel perks, and more ✈️

Many customers find the promise of these rewards too good to skip and are using their credit cards more often to earn them 🛍️

Read 7 tweets

select_finology

@Select_Finology

According to a survey - 57% of all Indians (around 80.7 crores) have less than ₹5,000 in their savings account or emergency fund 🤯

This is an alarming statistic that highlights the lack of a savings culture in India ⚠️

2/
One of the reasons for this could be the widespread adoption of digital payments in the country 📲 💳

While digital payments have made transactions easier and more convenient, they have also made it easier for people to spend money without realizing it 💸

3/
With digital payments, people are no longer limited by the amount of cash they have in their wallets.

They can simply use their phone or card to make purchases 🛍️, often without even thinking about the money they are spending 🤔

Read 6 tweets

ithought

@ithoughtadviser

@shyamsek

Here is this Week’s Market Wrap

'The Times Get Taxing' written by @shyamsek

A Thread (1/n)

#tax #investing #taxbenefits #marketwrap

Investment decisions can be taken based on tax implications. There is a natural tendency among investors to be drawn to investments where they feel taxes are lower. (2/n)

#taxes #investments #investors

When the tax concessions are withdrawn for certain investments, they tend to look less attractive to investors. (3/n)

#taxconcession #investing

Read 15 tweets

ithoughtplan

@ithoughtplan

Confused about tax filing in India?

Don't worry, you're not alone!

Here are some essential Do's and Don'ts to help you file your taxes with ease!

A thread! (1/n)

#taxfiliing #tax #deductions #personalfinance #thread

#1 Be On Time

Remember to file your tax returns on time. This can help you avoid penalties and legal issues with the Income Tax Department.

The deadline for filing taxes in India is usually July 31st. (2/n)

#taxreturns #taxes #incometax #directtax

#2 Disclose Necessary Infomation

Remember to disclose all your sources of income, including salary, rental income, interest, and capital gains while filing your tax returns to avoid penalties. (3/n)

#tax #salary #rentalincome #interest #capitalgains

Read 11 tweets

ithought

@ithoughtadviser

@shyamsek

Here is this Week’s Market Wrap

'Prepare With Patience' written by @shyamsek

A thread! (1/n)

#globalmarkets #investors #marketwrap

The last week has caused a significant reset in our investing. We are once again worried about how global factors will come to hurt. Banking, which is the bed rock of every economy looks like the most rattled space in the west. (2/n)

#banking #economy #investments

When smaller banks look weak, they create a systematic scare which needs to be urgently addressed. What we are seeing in the US is a rush to douse the fire that can damage far more than we can imagine. (3/n)

#bankingsector #globaleconomy

Read 11 tweets

Makena Onjerika

@Onjerika

I've come to the realization that many of us Kenyans didn't have the advantageous of growing up with financially savvy parents who passed on some wisdom. So here is my #personalfinance thread.

1. The best time to start was 20 years ago. The second best time is now... 1/n

2. If you can, save at least 25% of your income per month. You get about 40 years to work. And if you make it to your 90s have about 30 years of living post retirement. Your 40 years of work need to support your 30 years of retirement. So if you can save more than 25%, do it.

3. Save first. Spend what is left after. Have a very strict saving amount every month. Make your spending fit into the rest.
4. You can save more by doing one of two things: earning more or cutting your expenses.
5. Scrutinize your expenses a lot. Use apps like Monefy... 2/n

Read 42 tweets

ithoughtplan

@ithoughtplan

Are you a Senior Citizen looking to secure your Retirement and generate regular income?

Let's explore the Top investment avenues that offer stability & security! (1/n)

#seniorcitizen #investment #retirement #fixedincome

As we grow older, it's important to plan for retirement and consider investment options that offer stability and security.

Here are a few Investment avenues that offer capital preservation and regular income. (2/n)

#retirementplanning #investment #income

#1 Senior Citizen Savings Scheme (SCSS)

SCSS is a popular investment option for individuals above the age of 60.

It offers an interest rate of 8% p.a., which is higher than most fixed deposits and has a tenure of 5 years. The interest is payable quarterly. (3/n)

#SeniorCitizen

Read 10 tweets

RichQuack

@RichQuack

@morganhousel

Here are some key takeaways that can help you better understand your relationship with #money from "The Psychology of Money" by Morgan Housel @morganhousel #RichQUACK $QUACK #Psychologyofmoney

THREAD 🧵👇

1. Wealth is what you don’t see: Wealth is the assets you accumulate that nobody else can see. It’s the cars not purchased, the clothes not bought, and the vacations not taken. #ThePsychologyofMoney #Wealth #Savings $QUACK

2. Compounding is the most powerful force in finance: Time and patience are the most important ingredients of compound interest. Understanding the power of compound interest is essential for building long-term wealth. #CompoundInterest #WealthBuilding $QUACK

Read 15 tweets

ithought

@ithoughtadviser

@shyamsek

Here is this Week’s Market Wrap

'Banking on a Collapse' written by @shyamsek

A Thread (1/n)

#Banking #SiliconValleyBank #SVBCollapse #marketwrap

One week is a long time in global banking. Or, so it seems if one goes by the latest inflation and interest rate commentary of the federal reserve Chairman Jerome Powell. (2/n)

#banking #inflation #interestrates

The Silicon Valley bank collapse has almost caused a setting for a rapid reset of the interest rate trajectory in the US. (3/n)

#SiliconValleyBank #SVBCollapse #interestrates

Read 13 tweets

ithoughtplan

@ithoughtplan

Entrepreneurs, are you tired of paying hefty taxes?

Don't worry! We got you covered!

Check out these top tax-saving tips that can benefit your business and your bottom line. (1/n)

#entrepreneurs #taxes #taxsavings #taxtips

#1 Hire Family Members & Relatives:

You can reduce your tax liability by paying salaries to family members, which are tax-deductible. Their income may also be below the taxable threshold. (2/n)

#tax #taxexemption #taxliability

#2 Deduct Business Expenses for Travel & Accommodation:

Business travel expenses such as tickets and accommodation can be deducted from your taxable income, thus reducing your tax liability.
(3/n)

#taxliability #businessexpenses #deductions

Read 14 tweets

ithoughtplan

@ithoughtplan

Almost every millennial aspires to retire early. But most of the time, this goal seems almost impossible to achieve.

Well, let us tell you... it's NOT impossible! Welcome to the world of FIRE! (1/n)

#financialplanning #financialgoals #retireearly #thread

So, what is FIRE?

FIRE stands for Financial Independence Retire Early and it's all about achieving financial freedom so that you can retire early and live life on your own terms. (2/n)

#financialindependence #financialfreedom #retirementplanning

Can you achieve FIRE in India?

Yes, you can!

Firstly, you need to focus on your Savings Rate (SR). This means cutting back on unnecessary expenses and living below your means.

A high SR is key to achieving financial independence. (3/n)

#saving #investing #FinancialFreedom

Read 12 tweets

Deepak | Wealthy Stoic ⚡

@dpk2m

Hey everyone, today I'm excited to write a short review "Joys of Compounding" by Gautam Baid, Fund Manager at Stellar Wealth Partners India Fund. This book is all about the power of compounding and how it can help you achieve your financial goals.

The book is divided into 5 sections with various chapters filled with essential life & investing wisdom, quotes from various investors, engineers, entrepreneurs like Warren Buffet, Charlie Munger, Leonardo Da Vinci and Elon Musk.

@Gautam__Baid

In the intro, @Gautam__Baid says "The key to successful investing is not predicting the future, but learning from the past and understanding the present."

Read 19 tweets

ithoughtplan

@ithoughtplan

If you are looking for an efficient investment to save tax in India, this is for YOU!

The BEST way is to invest in ELSS Mutual Funds. You can save up to ₹46,800 in taxes under Section 80C!

Here is how! (1/n)

#ELSS #mutualfunds #taxexemption #thread

Every year in March, as the financial quarter comes to an end, there is a rush to invest in tax-saving funds.

And with the quarter end so near, let's look at why ELSS is so popular as a tax saving scheme. (2/n)

#ELSSfunds #taxsavings #investment

What is ELSS Fund?

ELSS fund, or Equity Linked Savings Scheme fund, is a tax-saving scheme that allows you to save tax while investing for your long-term goals. (3/n)

#savetax #financialgoals #taxsavingschemes

Read 18 tweets

Neil Borate

@ActusDei

Why are savings rates stuck at 3.5%? Despite being deregulated in Oct 2011, banks have stuck to 3.5-4% over the past decade. Some exceptions existed such as Kotak Mahindra's 811 account which offered 6% in 2017 and 5% from 2018-2020. But these have also disappeared over time.

In today's era of rising rates, this is a free lunch for banks. The lunch was a tiny snack in 2020-21 when rates were cut. Moving money to an FD wasn't that rewarding. You got maybe 1-2% more. Today, that free lunch is a buffet. Savings rates are half of FD rates of even 1 year.

The same gap exists with returns of money market funds. In both cases you give up some liquidity. In case of FDs, a sudden need for money will mean breaking it and losing interest (note sweep-in sweep-out FDs can sort this out).

Read 5 tweets

ithoughtplan

@ithoughtplan

Is there a SMARTER way to buy Term Insurance?

Can you get back all premiums paid while paying the same premium as a Pure Term cover?

This all sounds too good to be true, doesn't it? Let's dive deeper to find out 👇 (1/n)

#terminsurance #insurebesure #insurancepremium #thread

Zero-Cost Term Insurance plans allow you to 'exit' from the policy, thereby getting all the premiums that you have paid back.

But wait... What's the 'catch’? (2/n)

#insurance #terminsurance #financialfreedom

The CATCH is... You are allowed to exit the policy only within a specified period.

Let's look at an example. (3/n)

#insurancepolicy

Read 13 tweets

ithought

@ithoughtadviser

Wondering if you should start a SIP?

Here is a thread that can help! (1/n)

#mutualfunds #investing #SIP #thread

The market has been very volatile for the last couple of months.

With 2023 lined up to be another uncertain year, how should investors take advantage of such a year? (2/n)

#investors #volatility #wealthcreation

The answer is simple. Rather than waiting on the sidelines, the best way to participate in the market is via a SIP! (3/n)

#SIP #investingtips #compounding

Read 10 tweets

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