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A community of peers, on their journey of financial planning and freedom. Founded by @contliving and @aggyabhishek
6 May
Does It Make Sense To #Invest In The National Pension Scheme?

A thread 🧵👇
National Pension Scheme is a defined contribution scheme launched in 2004.

There are two vehicles to make your investments in:

1️⃣ Tier 1
Tier 1 is primarily for retirement where you get the tax benefits as well.
2️⃣ Tier 2
Tier 2 is for those who want to make voluntary contributions with an option withdraw at any time.

You need a tier 1 account to open a tier 2 account.
Read 31 tweets
7 Apr
You spend most of your waking hours working to pay for your day to day expenses and provide for your future.

But most folks barely spend few minutes before making financial decisions.

A 🧵 on financial mistakes that you can avoid early in life -
1. Acting on financial advice from relatives and family.

Buying LIC policy / real estate / fixed deposits. Such investments don't grow with inflation. Concept of compounding & wealth creation are understood very late in life.

Rule - Don't ride on the same bike as every one else
2. Becoming victims of wealth managers assigned by Banks.

Having a wealth manager sounds good. Someone out their to think about our finances. No, Banks only take you for a ride. Always remember, there is no free lunch.

Thumb rule - never buy investments/insurance from you bank.
Read 12 tweets
1 Apr
We took a look at PPFAS Flexi Cap Fund today.

You can learn a lot in less than five minutes. We have done the work for you.
Background -

@PPFAS mutual fund was founded in 2013 but its roots go back to early 1980’s when Mr. Parag Parikh, founder of the fund, established Parag Parikh Securities Limited in 1983.
The fund runs three schemes. The Parag Parikh Flexi Cap Fund (Formerly known as Parag Parikh Long Term Equity Fund) was launched at the inception of the fund house, Parag Parikh Tax Saver Fund was launched in 2019 and the Parag Parikh Liquid Fund was launched in 2018.
Read 17 tweets
3 Feb
A thread on thinking about emergency funds -

What Exactly Is It?

It is the answer to unplanned events that lead you to look for money at the wrong places. Examples - medical emergency, job loss or any other unusual expense.
How do you define emergency?

It must be an event that needs urgent attention.

It must be unplanned.

The consequences of not taking care of such an emergency could be much worse. Image
How should you think about the size of your emergency fund?

You must assess your current state of affairs to think about the size of your emergency fund. This evaluation must be done at different stages of life.

Ex - Upon getting married, having kids, or retiring.
Read 8 tweets