New Positive Changes in Insurance Policies from January 2014

Some of the most widely sold life insurance policies especially traditional policies like Endowment Plans, money back plans and even ULIP’s will to discontinue after 31^st December in this year. IRDA’s new product guidelines have already laid down some major changes in life insurance industry and will become effective from Jan, 1 2014 which aims to make insurance policies more customer-friendly and easy to understand. However, agents have effectively used these half-truths to make people rush to buy insurance before the guidelines come into force. They are pushing the existing plans by giving the false impression that customers could miss out on a great investment opportunity.

7 Saving Strategies that can backfire

Our human mind is preset to try buying anything which has a lower cost and always looking for many tips on saving money out there, but there are some that are just dangerous or potentially expensive. Many of these are possible in good ideas, but as we are indulging our inner tightwad, here are some things that aren't worth the time to skimp on, or else involve being penny wise and pound foolish. While making any saving strategy you should make sure yourself that they do not overlap, backfire or contradict each other.  Here are seven cheap saving strategies that can backfire. 

Is your Pension Plan the hanging sword of taxation?

Ramesh Sexena, an IT professional aged 45 years having been lured by the touchy-feel advertisement of new launching of various pension plans. The pension product, which was meant to make his retirement easy, has played the devil’s role in his life. Let’s see that how Mr Sexena, got in pension trap as well as tax trap which could havoc later? His pension plan became like chewing gum, which he could neither swallow, nor throw out, he has to just chewy.

5 budgeting mistakes most people make

Making a budget can be boring or avoidable exercise for the majority of the people. Because, they think of budgeting as depriving themselves and they just avoid it all together. But many people draw up budgets and take budgeting very seriously. They budget their money down to the very last penny. Others have fairly obvious oversights that render their work worthless. Regardless of busy schedule you are in, there are five budgeting mistakes that the most people make and they are big. Let’s take closer look on these pitfalls as to avoid a fall into any of them.

Rebalancing – a passive way of Timing the Market!

Most investors take decisions based on market levels. If the markets are very high, they will wonder what to do and wait for some corrections. If markets are down, they still wonder what to do and still wait for another correction. They are so confused with the whole exercise of timing the market and it’s easy and very common for investors to take incorrect decisions and make wrong investments. If their investments perform well, it’s difficult to know whether it is due to wise decisions or simply luck. Fortunately, for a savvy investor can help to ease the effects of both unpredictable luck and poor-decision making. One strategy for doing that is diversification via asset allocation: