Vedanthagal Dhamu

செப்பம் உடையவன் ஆக்கஞ் சிதைவின்றி எச்சத்திற் கேமாப்பு உடைத்து. The just man's wealth unwasting shall endure, And to his race a lasting joy ensure. (KURAL 112) Wealth earned by a person using fair means will protect not only the person but also his future generations.' Thinking retrospectively, we can definitely remember those who earned their wealth by their own hard work and dedication. Only a few of the infamous are also remembered as their deeds are truly devastating.

Child future லேபிளுடன் இடுகைகளைக் காண்பிக்கிறது. அனைத்து இடுகைகளையும் காண்பி

செவ்வாய், 24 ஜூலை, 2018

.... enlighten yourself and enlighten others.

Read this, understand the value of insurance , enlighten yourself and enlighten others.

1. We buy gold for our children's education and marriage, but we don't buy a child plan.

2. We get fear on seeing an insurance agent, rather than getting a feeling of protection.

3. Only "20 crore" Indians have got insurance policy out of "130 crores" population.

4. We buy a screen guard to protect our mobile worth 10k, but we don't insure our life which is worth more than 10 Crores.

5. We get our daughter married to an unknown person. But we think a lot when a known person advices us about taking an insurance policy.

6. We fight among ourselves on Bhagavath Githa and Khuran, but we don't realise death is "FATE"

7. We place our chappal very carefully in a stand paying Rs.5/-. But we don't feel like paying Rs. 50/- a day to insure our life.

8. We believe Babas who do "magic" but we don't believe insurance agent who guides us with "Logic".

9. We envy Govt employees for their pension facility. But we don't like saving some amount every month in a Pension policy and get pension for life time.

10. As per world census, more than 10k people everyday , do not wake up from sleep on their alarm set previous night.
Please remember only " FIRE ENGINE" comes with alarm, but "DEATH ENGINE" does not ...

11. We buy invertor to have light in our home during power off.
But you are the light to your family. Insurance policy is the invertor for your family to have light even when are not there.

12. When we die, it's LAST DAY only for us. But for family, it's just another day. They continue to live next day too.. Protect THEIR life with insuring YOUR life.

13. You know the balance in your mobile card, you know the balance in your Debit card .... Do you know ... what is the balace in your life card?

RECHARGE" your life card with insurance..,,,

Dhamodharan.K
Financial Counselor
9940857995

செவ்வாய், 10 ஜூலை, 2018

IS CHILDREN EDUCATION EXPENSIVE?

Rather than making investments on
ad-hoc basis, it’s crucial that one puts a plan in place to meet child’s education needs.

The cost of education in India is increasing at a fast pace. From primary to secondary to higher education, parents are increasingly finding it difficult to meet the growing fee structure and other costs associated with education. Aniruddha Bose, Director & Business Head, FinEdge Advisory says, “Education costs are inflating at an above-normal rate, and the returns on your child education fund need to outpace inflation.”

According to National Sample Survey Office (NSSO), between 2008 and 2014, the average annual private expenditure for general education (primary level to post graduation and above) shot up by a staggering 175 percent while during the same period, the annual cost of professional and technical education increased by 96 percent. The expenses typically include course fees, books, transportation, coaching and other related costs.

The cost of providing education in private institutions in 2014 was about 11 times that in government schools, while the cost of higher education from a private institution is about three times that in one run by the government.

According to rough estimates, on an annual basis the education inflation is about 10-12 percent. Even by conservative estimate, if education cost inflation of 6 per cent a year is considered, then an engineering course that costs Rs 6 lakh at present will cost around Rs 15 lakh after 16 years. Similarly, an MBA course that costs around Rs 10 lakh would cost around Rs 34 lakh after 21 years.

Thankfully, for parents whose children are about to join a college or want to pursue higher education, but are short of funds, education loans come to their rescue. However, you should depend on education loans only to bridge the gap between your savings and the actual requirement. So, if your children are still small and have a few years before funds will be needed for them, here’s how you can self fund your child’s education.

Put a plan in place: One needs to put a plan in place by setting up a target amount for child’s education needs. The world is witnessing newer types of courses and it might be difficult for you to zero-in at the career option which your child might take up in the future. Still, to make an informed start, identify 2-3 career options and find out their current cost. Inflate it by considering a conservative inflation of 8 percent per annum for the number of years after which the child would require funds.
Once you have estimated the requirement, find out how much you would require investing each month towards it. Assuming a growth rate of 7 per cent in the above example, you need to put aside around Rs 4,500 per month for the engineering course you child will pursue after 16 years, while it will be about Rs 5,000 per month for doing MBA after 21 years. You may take the help of financial planners to arrive at the figure.

Portfolio: The investment portfolio for child needs, when they are at least ten years away, should primarily hinge on safe investment. Therefore, safe return instruments such as tax free, Govt guaranteed products of LIC OF INDIA.
Ulips with equity fund options can be the mainstay of one’s portfolio. In addition, a LIC's Jeevan Lakshya may also be used to fund your child education needs. “Basically, the key determinant of the ideal asset allocation would be the number of years left for the goal achievement,” says Financial Planner.

Jeevan Lakshya

One may even consider investing through Jeevan Lakshya with the waiver of premium feature to ensure that the child gets the required amount at the desired age. As a parent, ensure you have adequate life insurance preferably through term rider plan so that any unfortunate incident does not derail children needs.
This is a traditional endowment plan which is simple to understand. The plan offers both savings and financial protection for loved ones of the parents. The protection can be further enhanced with the inclusion of two useful riders at a nominal cost. It is a very good cost effective plan offer by Life Corporation of India.

Jeevan Lakshya plan is a combination of both protection and savings.

Tax Benefits- Under the income tax act of 80C the premium paid under this plan is permissible for availing rebate on annual income tax and as per section 10 D the maturity amount is free from tax.

Conclusion: De-risk the funds earmarked for children education remember not to touch the child investment portfolio for any need other than what it has been created for. “Even if you were to pause your monthly saving for a while, do not redeem your goal-based investment to finance other short-term needs” is what FINANCIAL PLANNER suggests. Funding your child’s education is, in fact, one dream you cherished the day your kid was born. Do not, therefore, do anything which stops you from realising your dream.

திங்கள், 9 ஜூலை, 2018

Give Wings to Your Child's dream

One evening when Ganesh came back home from work, his 5 year old daughter, Sreenithi came running to him. She had a drawing paper in her hand.

“See NANA, what I made.” Her voice was excited.

He looked at the paper, which had a sketch of an airplane.

His wife, Revathi, told him that she saw in the newspaper the picture of a woman flying a plane, which inspired her to do the sketch.

“This is great Sreenithi. I am so proud of you.” He hugged her.

Sreenithi had put in a lot of details including her parents sitting behind and she herself on the controls in the cockpit. For a 3 year old, it was quite an achievement.

“NANA, one day I will become a pilot and fly a plane. I will take Mummy and you along. It will be great fun.” She said with a chuckle.

“Of course Chellam, you can do anything.”, said the doting father.

“How will I learn to fly?” Sreenithi posed the innocent question.

“You can go to a flying school to learn.” Ganesh was referring to flying courses.

“When can I go to that school?” She was still curious.

Ganesh looked up thinking. “After a few years, when you are big enough to fly”

Sreenithi had a broad smile on her face.

“Let’s eat dinner.” Revathi interrupted the conversation.

On the dinner table, Revathi asked, “Isn’t a flying school expensive?” She was concerned.

“Anything for Avani, We will figure it out.” Ganesh was confident that he would fulfill Avani’s dream.

Ganesh did some research and realised that if he saves some amount regularly in a mutual fund, it was possible to accumulate the fee of a flying school. If there was any shortfall, he can take a loan to fill the gap.

At that stage, he decided to invest Rs. 10,000 per month through Safe return Scheme in LIC

He tagged his investment as “Sreenithi’s Wings.” This ensured that he will use the money only for Sreenithi flying school fees.

What happened so far was in year 2005.

Cut to 2018. Ganesh and Revathi have their eyes wet with joy. Sreenithi has been selected for a flying school course.

Their daughter is actually fulfillingher childhood dream.

But, what about the costs?

The overall costs including fee and other expenses at the flying school are expected to be very high.

But Mahesh, who with his diligence and commitment continued to save Rs. 10,000 per month via a systematic investment plan (SIP) in a mutual fund scheme, is not concerned. He doesn’t need to take any loan since drip by drip he accumulated the amount required for Sreenithi’s dream.

Ganesh is now looking forward to the day when Sreenithi, as a pilot, takes them for a ride in the skies.

LIC traditional savings are subject to GURANTEE, read all scheme related documents before choosing a plan.