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Advice
The Retirement Risk Most Plans Miss
A few of us from college went to meet our batchmate Ashok, who had been through a serious illness. We gathered around his bed and, as old friends do, spoke of hostel canteens, professors and ridiculous nicknames until the illness briefly disappeared from the room. Then someone remembered a story from Ashok's younger days. "Arre, what happened to that bottle of wine you bought on your first trip to France?" Ashok had brought back an expensive bottle from France in the 1980s and said he would open it only on a truly special occasion. He smiled wryly: he still had ...
Advice
EGRs Can Unlock Household Gold at Lower Cost to Taxpayers
Mangal bought one kilogram of gold coins in 2001 for ₹4 lakh; by 2015, they were worth ₹27 lakh but earned nothing in a locker. Like many Indian families, she saw gold as security and peace of mind, though such idle gold hurts the national economy. The government’s Gold Monetisation Scheme looked attractive on paper, offering tax-free conversion, interest and maturity gains. But operational friction, paperwork and poor bank-level support made the scheme impractical for her. She chose Sovereign Gold Bonds instead, paid tax on the earlier gain, but eventually redeemed them for ₹56 lakh tax-free. Now, Electronic Gold Receipts ...
Advice
This time is no different, if you have a plan and discipline
Truth be told, investment discipline is simple, but not easy. Once short-term needs are protected and long-term money is linked to a pre-decided asset allocation, the plan should guide the response. Most crises require only one of two responses: rebalance if required or otherwise sit it out. You do not dig a well when you are thirsty. You dig it in advance. In investing, that well is a financial plan.
Advice
Insurance tax break for savers must not subsidise sellers
Anusuya’s story shows how vulnerable savers can be misled into buying products they neither need nor understand. She thought her Rs. 5 lakh fixed deposit was being renewed into a safe, tax-free deposit, but it was actually a life insurance policy with recurring premiums. This is not an isolated case; it reflects a structural problem in how traditional insurance products are sold. High upfront commissions push banks and agents to sell first and advise later. While RBI’s proposed reforms on consent, refunds and compensation are welcome, they address only the selling process. The deeper issue lies in product design, where ...