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| Bankbazaar.com has released ‘The Prosperity Planner & Workbook’ to help consumers with their personal finance journey. The primer provides tips on saving money and multiplying investments through different financial methods. The primer emphasizes the importance of saving, determining savings goals, emergency funds, insurance coverage, role of credit products, investing for tax savings, and the power of compounding. It advises individuals to reassess their financial situation periodically and adapt their financial plan to match their evolving needs. The primer aims to guide consumers in creating a financial map for a successful journey. |
Importance of Having a Will: Guidelines for Drafting a Will
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| Property-related disputes in India can be avoided by having a Will. A Will clearly outlines the distribution of assets and assigns liabilities after one’s death, avoiding legal battles. When drafting a Will, one should declare personal details, identify all assets, appoint an executor, list beneficiaries with full names, addresses, and relationships, and have witnesses. It is important to review and update the Will periodically and ensure old versions are deleted or destroyed. Having a Will is crucial for securing the financial future and preserving wealth according to one’s wishes. |
Gurugram’s Real Estate Market Experiences Surging Property Prices and Stable Demand
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| The real estate market in Gurugram, India has seen a significant transformation, with property prices surpassing other major Indian cities. In the second quarter of 2023, Gurugram experienced a 12% year-on-year price appreciation, outshining cities like Bengaluru and Noida. The city’s reputation as a commercial and technological hub has attracted a substantial workforce and big corporate names, leading to a surge in demand for residential spaces. Despite the rise in prices, the demand is expected to remain stable, sustaining the property market’s growth. |
Investors Should Focus on Large-Cap Funds for Better Returns
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| Investors are being advised to increase their allocation to large-cap funds as mid and small-cap stocks become less attractive. Large-cap stocks provide stability and diversification to a portfolio. The power of compounding also comes into play with large-cap companies, leading to substantial wealth creation. Experts suggest overweighting large-cap allocations and using systematic investment plans (SIPs) to invest in large-cap stocks. While mid and small-cap funds can still be considered, it is recommended to allocate a larger portion to large-cap investments initially and gradually increase exposure to mid and small-caps as knowledge and comfort with the market grows. The emergence of passive funds has led to outflows in large-cap funds, but multi-cap funds or flexi cap funds can be considered for better returns. Diversification across sectors is also important for consistency in large-cap funds. |
Motor Insurance Embraces Customer-Centric Approach
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| Motor insurance has transitioned from being a legal requirement to adopting a customer-first approach. Regulatory authorities, technology, and evolving customer demands have driven this shift. Recent initiatives include pay-as-you-drive policies which evaluate premiums based on individual usage, digitized solutions for convenient policy management, and hassle-free KYC processes. The industry is moving towards greater personalization and streamlined processes, with the adoption of AI and data analytics playing a pivotal role. |
