(A powerful tool for potential wealth creation through SIP + Financial Independence through SWP) SBI Mutual Fund has launched an unique product named SBI MITRA SIP. Earlier this type of scheme was launched by ICICI Prudential Mutual Fund named FREEDOM SIP . This product has the unique feature that will match the clients long term goals like retirement planning. This product enables client to create wealth in long term through Systematic Investment Plan (SIP) and subsequently the accumulated corpus can be withdrawn as monthly pay out through Systematic Withdrawal Plan(SWP). Its a powerful combination of systematic investment approach through SIP and monthly income generation through SWP. What is SBI MITRA SIP? MITRA SIP is a unique tool that is a combination of potential wealth creation and systematically reaping benefit of the same. You have to register for a SIP from a number of source schemes to choose from for 8/10/12/15 years and simultaneous registration of ...
Big dreams can often seem overwhelming and unattainable, but the truth is that they can be achieved with a simple plan. A simple plan is a step-by-step approach that breaks down a big dream into small, manageable tasks. This approach helps individuals to focus on one task at a time, making it easier to achieve the overall goal. The key is to be patient, persistent, and consistent in following the plan. By taking small steps towards a big dream, individuals can achieve their goals and turn their dreams into reality. HDFC mutual fund brings a unique plan called "HDFC DREAM SIP" that will help you achieve your goal with ease and that can make you financially free. Before we know the details about the HDFC Dream SIP, let's know what a SIP is. SIPs allow investors to invest in small amounts of money at regular intervals, providing the benefit of compounding, and reducing the overall risk of investing. Investing in a Systematic Investment Plan (SIP) is one of the most convenie...
The "15x insurance rule" is a straight forward guideline for individuals seeking to determine their life insurance coverage needs. Rather than a rigid rule, it serves as a starting point to help people assess their financial protection requirements. Here's an original explanation of the concept: The 15x insurance rule is a simplified approach to estimating your life insurance coverage needs. It suggests that you should aim to have life insurance coverage worth 15 life insurance coverage worth 15 times your annual income. While not a one-size-fits-all solution, it provides a basic framework to assess how much protection you may require. To use this rule, calculate your annual income and then multiply it by 15. The resulting figure is a rough estimate of the death benefit your life insurance policy should provide. However, it's important to consider several factors that can impact your unique situation: Debt: Account for any outstanding debts like mortgages,...