Jagoinvestor

December 31, 2009

Top 5 things you should do in 2010

Look around, the world is lovely and bright
Look inside, understand yourself and you’ll see new light
Follow your dreams, follow your heart
Do everything that fills you with delight

Wish All the readers a Happy New Year

In this short post we will see what are te things you should make sure you have completed . We will actually see the points you should keep in mind through the older posts only . Take it as a guide for what you have to do in coming year if you have not done .

New readers can look at Archives to find out Old articles categorised by Month and Category

Important Points

  • Make sure you have adequate life cover , Calculate how you can calculate your Insurance cover and then take a good Term Plan to cover your self . It is extremely important .
  • Open your PPF account if you have not done it yet , I know its tough to take action , but there is no alternative 🙂 .
  • Make sure you understand the concepts and importance of Debt and Equity , understand the importance of Asset Allocation . Understand that Equity is extremely risky in Short term and Debt is extremely risky in long term.
  • Make sure you don’t buy products which you do not understand. This is important , Don’t get into wrong products . doing nothing is a better thing then doing wrong things . Learn from this blog and other blogs , read before you do . don’t do before you read . This is the common mistake . Read some Tips in Personal Finance .
  • Share, We cant grow unless you share things. 5 ready to learn, less knowledgeable people are better than 1 Albert Einstein. When you share links, tell your friends about this blog, Give your comments in articles, There is conversation happening and that leads to more ideas, disagreements , which are the essential things in life to grow . Do more of it . If you are silent reader , I can understand that you don’t like to talk much , but occasionally come in and say how you feel about the idea , put 2 lines , that’s enough .

What I Wish for in 2010

All the right decisions we can make in life are “simple” and “extremely tough” to take. We get confused because of lots of choices and the simplicity of products. It does not fit with our complicated environment these days.  All the wrong decisions we take in life are easy to take , looks good to us at first moment and hence give an impression that they are great and worth taking. Same thing happens in our financial lives . Simple products like Term Plans , SIP in Mutual funds look too easy and simple and hence make us feel that there is some thing wrong with them , We think that how can they be so simple and so powerful, and when we see them in comparison with complicated products like ULIP’s and money back plans, they make us feel like we are doing some thing wrong by buying something which not much people buy.  More than 80% Insurance p9licies sold in India are ULIP’s, Just because 80% people do it , It does not mean they are right product for you . Think and judge your self . Just like the top of the ladder is never crowded in any profession , the same way the best products is not the one which is most sought after . Don’t let 2010 be a year when you make the same mistakes which you have done earlier in life . Making mistakes is one of the greatest gift , Repeating them is the biggest curse . So make a mistake, don’t repeat it 🙂 .

I am not a religious person and I am yet to discover if I am a spiritual one either , but there is some thing inside me which asks me to wish for each and ever reader of this blog that he/she should be more educated , more empowered with the psychology of how to succeed in Financial Planning . I feel like this blog is a platform where any new person can come , learn , discuss the ideas and one day he/she can become his/her own financial planner , who is capable of taking all the right decisions one should be making , you don’t need to depend on anyone , neither this blog nor me , you can be your own master and together we can and we will do it . It might take some time , but its going to happen . I know .

I thank you all for the great support and motivation you have provided to make this blog one of the best financial planning blog in the country today. Happy And Prosperous New year to you and your Family .

Manish

Comments , Give me suggestions on how I should take this blog in 2010 and what are the different things we can do on this blog . You are a part of this Family and your views matters .

Updates

  1. The blog completes 2 yrs
  2. Monthly Pageviews are now touching 70,000 per month
  3. 800+ comments in last 30 posts in less than 3 months

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AMY
AMY
13 years ago

Hi MANISH, I am Amit kumar of 26 yrs from rajasthan.I am a govt.employee with a monthly income of 25,000.I am having two LIC ENDOWMENT plans of which one is of sum assured 6 Lk and a annual premium of 28000 and other with a sum asssured of 1 Lk and a annual premium of 6000.I am also having 2 ULIP plans of which one is LIC MARKET PLUS (optioned GROWTH) with annual premium 10000 and other is ING VAISYA (optioned GROWTH) with a annual premium of 4000.There is also a deduction of 10% from my monthly salary under contributory pension scheme(C.P.F.).
I have started up with a monthly SIP of 1000 in canara robeco equity tax saver(growth) last month.now i am planning to open a PPF a/c wid SBI.i am also planning to invest in two equity diversified MFs wid monthly sip of Rs 1000 each.
I request u to plz analize my above portfolio and suggest me two or three good equity diversified MFs.I am having a goal of 7 Lk after 5 yrs.I also want to know that as i am having C.P.F. deduction whether i should open P.P.F. a/c or not. plz mail me.
Thanks.

Pavan Tripathi
Pavan Tripathi
14 years ago

Hi Manish,
I have rarely seen people doing such an unconditional service for the common misguided people like us. You truly write out of your passion and one day achieving that goal of smart investment for everybody. Mark my words, you are definitely creating a world of difference through your superb blogs, and that your D-day is not far off if this is the way your blogs keep on recieving the responses.
Like many, visiting your blog site have become a routine thing for me as well. As already promised by you, I am eagerly awaiting for your upcoming review blog on health insurance / mediclaim policies, critical illness coverage etc.

Regards,
Pavan Tripathi

vazanth
vazanth
14 years ago

Hi Manish,

Stumbled upon this blog couple of days. Very exhaustive and informative. Made it a point to visit it daily. Will come up with queries too. Keep doing the good work bro!

Pallav desai
Pallav desai
14 years ago

hi!
As we know term plan cover is mostly up to age of 65.In that case ulip gives 60 times (AP)coverage for 80 years.I also know we need insurance up to the age of retirement that is 60-65. I want to give security to my wife up to 80 As i have only daughter.
But the problem is again charges.We cannot get much return compare to MF.
I am in cofusion about the plan of tata aig-flexi plus.Can u guide me? We can not get anything up to 10year(assuming 6-10%)After 20 year we can get not more than intrest of FD.
My second need to know about the I-TERM which i m going to take next mont(20 lacs).
Do u have any claim settlement ratio knowledge about that company?Should i go for it?

Pallav desai
Pallav desai
14 years ago

Dear mohan,
Many Many Thanks for all u are doing for all of us.What can i say for so called invest adviser in to days market.We all have sour expierence with ins.agent(dalal!)who dont have any moral.how can they wish good for us,ultimatly they all want “BAKRA”.There can be few good people also, sorry to them.But i m talking about most of “executives”.
Anyhow,some hope of rays came from blogs like u.
Again thank u very much.Keep it up.
Pallav-9426276825

Yuvaraj K
Yuvaraj K
14 years ago

I have not started yet for SIP … My friend suggested me to put in “ICICI Prudential Tax Plan” …

If u have any information in any other better SIP plans please suggest me…

Yuvaraj K
Yuvaraj K
14 years ago

Thanks Manish,

For your valuable information in this site, I got really helpful after reading your site.

Once again thank you so much…

Yuvaraj K
Yuvaraj K
Reply to  Jagoinvestor
14 years ago

Not yet… This year I am planning for some investment towards PPF and SIP…

Yogesh
Yogesh
14 years ago

Hi Manish,

One out of topic question.

How increase in CRR will help in controlling inflation.??
I know by this liquity(money) in market will become less but how it can control inflation.
I am not able to understand it .Plz clarify.thanks

Yogesh
Yogesh
14 years ago

Hi Manish,

Thanks for ur response.

U mean to say there will be no tax deduction on income which is driven from equity funds.
How abt the fund which are debt+equity based ??

Yogesh
Yogesh
14 years ago

Manish,

Thanks for ur response.

Q1.Which one is better TIPP or PPF ?? In terms of final return percentage.??
I know in TIPP final amt is taxable n not in PPF.

Q2.Suppose we invest in any fund and receive xyz final amount after some years.and the final amount is taxbale ?How we we can calculate what will be amount after tax deduction before investing?Is there any formaula for this ??or any rough calculation ??

Q3.Suppose there are three investment in one amount is compounded quaterly ,in second amount is compounded halfyearly and in thrid one amount is compounded yearly ??Which one is best ?
I think first one in which interest is compounded quaterly,right ??

Mukul
Mukul
14 years ago

Hi Manish ,
I totally agree with what Vivek has mentioned in his post. Your articles have been very informative and i have learnt a lot from it. So I must thank you for this knowledge sharing.

I am waiting for a new post/article.What is it going to be?
.-= Mukul´s last blog ..Decade recap =-.

Yogesh
Yogesh
14 years ago

How much is the return from TIPP ??Is the percentage of return fixed or its equity base and it varies ??

Moga
Moga
14 years ago

Have a happy new year to you and fellow readers.

Thanks for enlighten of financial products in a simple way.Would you please include some NRI investment section.

Swathi
Swathi
14 years ago

Manish,
Happy New Year to you and all readers of Jago Investor.
Congrats for the stupendous achievements and I wish JagoInvestor all success in 2010.I would like to see the below topics in this blog in 2010:
1.detailed explanation of technical analysis charts and sample analysis of some charts with different moving averages.You can also conduct a quiz kind of thing for readers showing some charts and asking them to analyze.
2.detailed explanation of options trading strategies and hedging with options.You can conduct an exercise for this also.
3.General economy articles like purchasing power parity, how exchange rates work, how a stock index works
4.Detailed post about demat account-what a broker does,what does a depository do,role of SEBI,whom to approach in case of discrepancies,what are the pitfalls,do’s and dont’s,precautions,hidden charges e.t.c
5.Analysis of new products in the market

Plan exercises involving readers so that people can understand better and will also create intrest in them.

Vikram
Vikram
14 years ago

Hi Manish,

A Very Happy New Year for you , your readers and to your blog and to your family members and friends.

I wish you all the best !.

Keep going to reach your goal of “Financial Planning and education to be reached to all the Indians for living “Financial Freedom Life”.

Cheers,
-Vikram.
p.s : “Please correct if anything wrong related to your long term goal.”
.-= Vikram´s last blog ..The Top 100 Web Sites of 2009 =-.

Ramavatar
Ramavatar
14 years ago

Hi Manish
Wishing you, your family and all readers a very happy new year.

I wish to thank you for enriching all with excellent knowledge sharing blog. Your articles are not only mind blowing but heart touching too. I have told many of my friends about the blog.

Thanks again. Wishing you all the very best.

Mukul
Mukul
14 years ago

Hi Manish,
I am planning to take a Term Plan. And I plan to split it (yeah yeah, derived from your article..). 1. ICICI Prudential’s pure protect 2. Aegon Religare’s iTerm. I was thinking of splitting it 50:50.

Just want to know what is your opinion on these shortlists for a plan of (30 years).

Pratik Hiwale
Pratik Hiwale
Reply to  Mukul
14 years ago

Hi , I still have not understood why to split the term plans into 2 . anyways we will have to pay both the premiums (say 7k / 8k) . can it be put in a single plan like 14 k /15k.
I guess there is no money back system in term plan.
Thanks

Pratik

Yogesh
Yogesh
14 years ago

Hi Manish & all,

Why there shdn’t be any worry in case of long term investment?
Suppose i invest some money & market is already up how this investment can help in
long run.

My views:Can only be helpful if in coming yrs market cross current level.Suppose
market is not able to cross current level then i think even u invest for long term can’t help.

Plz give ur views.If possible by example considering case where market remain same/decrease.

Yogesh
Yogesh
14 years ago

Tejas,
My views(after reading moneycontrol.com) if there is correction in market then also it shdn’t be huge correction as there
are not enough reasons.we r in recovering face and no immediate thing can come n fall the market.
I think all people will try to prevent as all efforts still are on to make economic stable.
Inflation can make some correction as RBI can increase CRR but some expert say
there is enough money in market.

Aside to Manish,
Can we have any such section also in which there is list of all investment options? 🙂
As all doesn’t know.In current blog only came to know abt TIPP.
It would be helpful for all.

Harsh Agrawal
Harsh Agrawal
14 years ago

Thanks for Warm Wished Manish and Wish you a very happy new year 🙂
.-= Harsh Agrawal´s last blog ..Hostgator Discount Code for January 2010 =-.