Meet this 15 yr old youngest participant from our Mumbai Investor Workshop + Some Pictures

We completed our Mumbai workshop just 2 days back on Sunday and it was a great experience overall to connect with our readers . However there were 2 most amazing experience which I want everybody else to know about.

Youngest participant was just 15 yrs old

Yes, you read it right .. One of the participants had booked a couple ticket and he choose to bring his young son who was just in school to make sure that he put the right seeds in his son’s mind about money and personal finance. We were really amazed seeing this and congratulated him on his attitude towards money and his commitment for this son future. The best part was that his son participated well and also shared what all he has learned from the session at the end.


One of the best things about the workshop was that a lot of couples attended the session together, one person came along with his mother, another guy came along with his best friend and many participants also came along with their siblings . It was an environment filled with learning and dedicated to do something for their financial life. We also had fun doing some group exercises, which everybody loved and had a great message.

There were conversations about Financial Freedom , Passive Income and many other amazing topics – which all the participants liked a lot. Here are some more pictures






Bangalore and Pune Workshop

We still have few seats left for the workshop in Bangalore and Pune. For those who always wanted to attend this workshop should come over, because mostly this will happen only once in year. The workshop will have some very deep conversations about various topics like Financial Freedom, Passive Income, your mindset about your financial life and how you can focus on next 5-10 yrs in designing your financial life.

How you will save more Income Tax compared to last year due to Budget 2014 (Download Calculator)

Budget 2014 was a big event this year as the expectations from BJP govt was very high. Here are some of the income tax rules which were changed int his budget and impact a common man directly.

1. Income Tax Exemption Increased from 2 lacs to 2.5 lacs

The basic exemption limit was raised by Rs 50,000 in this budget and now the new limit is Rs 2.5 lacs . So there is no tax to be paid upto income of Rs 2.5 lacs. For senior citizens, the new limit will be Rs 3 lacs. So the new tax slabs looks something like this

new income tax slab 2014 2015

3% education cess is extra on income tax
2. 80C limit raised from 1 lacs to 1.5 lacs

This was a big relief for most of the people, as the old limit of Rs 1 lac in 80C was not enough for most of the people. There are too many things like EPF, PPF, Home Loan Principle amount, tuition fees, Life Insurance Premium, Tax Saving Mutual Funds and Tax saving FD and many more things, which gets 80C exemption.

Now with this exemption increase to 1.5 lacs, more motivation will be there for people to utilize this 80C limit. So if a person earns Rs 4 lacs, he/she can invest upto Rs 1.5 lacs in 80C, which lowers the taxable income to 2.5 lacs , which does not attract any income tax. So in best case, a person do not have to pay income tax upto Rs 4 lacs income with help of 80C investments done.

3. PPF limit raised from 1 lacs to 1.5 lacs

The limit for PPF investments was increase from 1 lacs to 1.5 lacs. This is going to be a great news for PPF fans and especially those who are investing in PPF in their children names, as the overall limit would increase for their family.

4. Home Loan Interest exemption raised from 1.5 lacs to 2 lacs

This was again a big relief for salaried class, as a lot of people who have taken home loan pay much more than 1.5 lacs of interest per year. With the increase of limit from 1.5 lacs to 2 lacs, the extra saving is of tax on Rs 50,000 , which turns out to be around Rs 15,000 for those who are in 30% tax slab. Note that this is only applicable for self occupied house taken on home loan.

5. Capital Gains Tax on Debt funds raised from 10% to 20%

The capital gains tax on debt funds has been raised from 10% to 20% and the minimum holding period to get benefit has been raised from 12 months to 36 months. So what happened was that earlier, people in 20%-30% tax slab rate used to invest in debt fund for 12 months and got it taxed at 10%, which was a great alternative to fixed deposits (where you pay 30% tax , if you are in higher tax slab) . But now this cant be done . Those who are interest to understand this part, please read this analysis on Deepak Shenoy Blog.

Then vs Now – An example calculation of a person earning Rs 10 lacs

Below I have given an example of a person who earns Rs 10 lacs, and takes full benefit under 80C , Home loan Interest and other basic exemptions like HRA, Medical Bills, Medical Insurance premium etc and compared his situation from past year rules vs the new rules which came in new budget. It has been seen that he can save approximmately Rs 30,000 additional tax. Have a look below

income tax calculation example

Download the Income Tax Calculator

I have created an excel calculator which you can use for calculating your new income tax and also compare with past year and see how much saving you will make with new rules.

Click Here to Download the Income Tax Calculator

Some Other Changes and Points from Budget

  • There is a proposal for introducing a single demat account for all the financial products
  • The EPFO will launch a unified EPF account, which will be a single account and there wont be headache to transfer or merge them every-time you change the job.
  • There will be uniform KYC across all financial institutions so that you don’t have to update your KYC at all the places

Please share how do you see this budget and the benefits ? Do you think its really going to help bring the “acche din” or not ? Please share your thoughts in comments section below.

Are you Scared of Having a kid due to money reasons ? Here are 5 things you should know

Day by day I am realizing that the impact of money is huge on our decision making capacity. The conversation of money is very deep rooted and not just limited to financial goals or wealth creation.

Today’s article is based on interaction I had with one my relative, who works in IT sector. We do not meet very often but as and when we meet, we make a point to update each other about, what’s new is happening in our work and life. He and his wife both are doing extremely good in their career and their pay scales are also good.

scared of having kids

Here is how our conversation went

Relative: So, Nandish How is life after becoming father?

Nandish: Life is wonderful, it is great becoming father and playing with my kid is great fun. I and my wife feel becoming parents is the greatest gift to receive in life.

Relative: That’s wonderful to know Nandish but I am really scared of this idea of “Having a kid”

Nandish: Scared? Why are you scared? What is so scary about becoming a parent. If you want we can have a conversation that can forward you in this matter.

Relative:  Thanks Nandish. I always like having conversation with you. You are my lifetime coach. Honestly speaking, I and my wife want to plan a kid, but we are scared whether we will be able to handle all the expenses that are related with kid or not?

Nandish: But you can always plan for your children related expenses and children related goals. Your savings per month and year according to me are sufficient.

Relative: When we see other people’s kid, we feel like we should plan a kid – but somewhere we are not confident about this whole process. I personally feel that becoming parent is a huge responsibility and it also calls for financial commitment.

Nandish: Yes, but why don’t you and your wife first get friendly with the thought of becoming parents. It may appear scary, but in reality it may not be so. There are some thoughts or beliefs that are holding you back.

Relative: I and my wife stay alone in a rented premises. Income wise we are good, but we still feel we are not ready financially. We dont know – how other people manage this big change but we are scared. Really scared…(He literally started crying)

Nandish: Hey don’t cry my friend. In life sometimes, we find ourselves on a cross-road. Such cross-road moments are painful but it is a point where you gather courage to make some BOLD choices in life. Over thinking or over worrying wont help you and your wife. Be clear whether you guys want to step into the realm of parenthood or not?

5 things I learnt from the interaction I had with my relative on parenthood

1. Imaginary world is scary

Our imaginary world is always more scary than the real world. We anticipate all the worst things to happen to us, but in reality things turn out very differently.

I feel that a lot of people like my relative are sailing in the same boat. They have strange notions about parenthood and they envisage those strange notions will soon convert into reality.  They always come-up with reasons like let the family income reach to X level, or first let me first buy my own house. etc

(Here reason is not important, but the point is you are in grip of money related concerns)

2. BOLD step is required

Life demands you to take BOLD steps. You have to step beyond your so called fears and worries and you need to take a stand in life. Take a stand to accept parenthood with a lot of power and grace. To bring new life into this world demands commitment.

I am not saying, don’t examine your situation – but get present to what is stopping you and take a bold step in this area.

3. Don’t let conversation of money rule your decision

Don’t hand over all your power to money. Money is an integral part of your life, but at the same time money is not everything in life. When it comes to parenthood don’t let the money conversation hold you back. Take a step forward and don’t get stopped by financial concerns.

4. Trust your ecosystem

After the transition takes place you will start experiencing support coming from different corners of your family. Sharing from my own life, our parents  have brought huge strength and support into our life. After becoming parents I and my wife started experiencing true power of our family ecosystem that we are into.

This whole transition became smooth for us, because of the family support we have. Look around and get in touch with your family eco-system.

5. The Age factor

I am not an  expert in this area, but all I know is that age of women matters when the couple wants to plan a kid. I have interacted with some clients of ours who kept on pushing parenthood for some initial years and finally they had to face some complications due to age factor.

We suggest you to go and consult right person who can guide you better on age factor thing.


Don’t let the conversation of money hold you back from experiencing parenthood or any other beautiful experience in life. Have conversation with your spouse and make a choice that serves you most.  It is a sensitive subject and our intention is to share our observation, we just want to share how money impacts our life decisions.

We are not asking you to do something or don’t do something, it is about getting present to the impact that money have on us.  Jagoinvestor as blog is not limited to personal finance education, we really want our readers to be happy in life.

We want to spread happiness along with personal finance education. If you have experienced something like this in your life – feel free to share in comments section, if you want. Sometimes we are afraid of writing articles on such sensitive topics but as I mentioned in the article we also have to show boldness in our writing.

Are you suffering from “I don’t have time to read Policy Document” Syndrome ?

As an investor, I am sure you have done something with your money. You have put your money in some or the other financial product – assuming it is going to help you in creating wealth or it is going to help you in some way or the other.

The way some movies have flashback, you will have to go back in the past to get full value from today’ article.  We just want to make you responsible in the area of money, because taking responsibility is the first step towards bringing any kind of change or transformation.

policy document

Lets go back in the past (Flashback)

Lets say five years back some agent or adviser or relationship manager approached you with the new financial product in market, the product features and benefits were explained, you trusted your adviser’s advice and bought the financial product.

Now, before you purchased the product – Did you read the product brochure (completely) at the time of buying or even after that ?

Most investors do not invest their time in reading product brochure or policy documents and this is a major mistake most investors are not even present to.

4 reasons, why Investors do not read Policy Documents

Reason #1 – They find it boring to read Policy Documents

A lot of investors think, that reading personal finance document is extremely boring thing (its just their assumption). Some investors start yawning the moment any policy document is placed in front of them. If you ask them for a movie, they are filled with enthusiasm – but if you ask them to read policy document or mutual fund scheme document they start avoiding the same.

In this process, you may miss out on some important information which you are suppose to know about some particular financial product and it will save you from disappointment later in future.

We come across so many investors who don’t know whether the money they have been investing from last 5 years is an endowment plan or a money back, the mutual fund they have been investing is an equity fund or debt fund. You carry boredom in your thoughts and it has nothing to do with any personal finance document.

Come on – Its a one time job, which takes not more than 1 hour, that’s all !

Reason #2 – “It’s not my cup of tea” Syndrome

A lot of investors think – “Personal finance is not my cup of tea” and they feel they have licence to NOT read policy documents. You may be into medical profession, Software or any other profession.

You can’t escape from managing your financial life and reading your policy document is one core activity you need to complete.

Reason #3 – They over-trust their Adviser and prefer playing Blind Game

Some people trust their adviser much more than they trust their spouse or parents. They trust their adviser blindly. Their adviser will make cross marks on documents and then give investor the bulk offer to give their signatures, as if they are giving autograph to the crowd. And then this kind of fraud happens with investors.

These investors are playing blind game, they are taking risk with their financial future. Even when the policy document or any other financial product is purchased, they do not bother to read where they have invested their money.

All they do is call their agent and take a monthly or quarterly report which gives them a fake feeling that they are serious about their financial life. You are getting reports, but for all wrong financial products which does not serve you as an investor. You can trust your adviser – but do not skip the homework that you are suppose to do from your side.

Reason #4 – They entertain the story called “Lack of time”

When we ask a lot of investors that why they did not read policy documents or product brochures the most standard reason that pops up is “Lack of time”. From morning till night, they slog for money, which they put into a financial product and then they do not have time to read about the financial products itself, where they have invested their money.

Now how strange it that !

These people are found very active on social media platforms. By the way – I am not against use of social media, but the point I am trying to make is that, you should give time to your financial life and break the “lack of time” story.

Conclusion – Never skip reading Policy Document

This insight or tip might look very simple, but it is applicable to majority of investors. As an investor you will make money only in those products – where you have the understanding. Your primary job as an investor is to understand basic mechanism of any financial product in which you are going to put your hard earned money.

My invitation to all investors is read product brochure and make list of questions that arise in your mind and get 100% clarity on them.

So, dust all your laziness and read the product brochure, before buying any financial product and if you have already made any purchase make sure you read the policy document in detail.

So, this weekend do the following

  • Place 2 hours on your calendar, in which you will read policy documents (put the reminder in your mobile at this moment itself.
  • While you read policy documents if you are not clear, make a note of them and discuss with your advisor or customer care
  • Share with us what was your experience in the comments section

NOTE:  We want to meet more and more investors during our 6 city tour. The minimum investment to participate in our workshop starts at Rs.3500/-. Come be a part of Design your financial life 2.0 ( You will have the most amazing time as an investor)