Take the right financial decisions in your 50s to prepare for retirement

THE ECONOMIC TIMES Tue, Aug 22, 2017 | 06:17 AM IST ET Wealth Newsletter

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Take the right financial decisions in your 50s to prepare for retirement You should ideally start saving for retirement as soon as you start earning. But many people get serious about it only when they reach their 50s. You must adjust financial plans to varying inflation and returns You will need to inflate your goal amount as prices will not remain the same. You won't be able to afford the same lifestyle in future with the same income. Soon, you could own diamonds by investing as little as Rs 900 a month To invest in the diamond SIP scheme, you have to open an account with a broker on the ICEX, complete the KYC process and deposit some money. Missed filing IT Returns? There is still a chance Don't worry if you have missed even the extended deadline of August 5, 2017, for filing income tax returns for FY2016-17. Here's all the information you need to file a belated return. From our Partners Start Investing in Mutual Funds with as low as INR 500 with ET Money! A complete investing solution for smarter generation; Invest in Mutual Funds, Manage Expenses & Buy Insurance online From our Partners Leadership 2.0- Sculpting leaders of tomorrow for a new financial paradigm The Financial Sector needs new leaders! Little known short holiday destinations to explore this monsoon With the festive season coming up, ET Wealth lists a few lesser known destinations to plan a short getaway to. Why cash will remain king despite tax raids, strictures: View A small trader can only stay afloat by paying "taxes" that have nothing to do with the formal system. It's a practice that is difficult to eradicate. Top Mutual Funds SCHEME NAME RATING 1 M(%) 6 M(%) 1 YR(%) 3 YRS(%) Motilal Oswal MOSt Focused 25 Fund Direct-Growth 0.44 13.64 23.13 17.19 Invesco India Growth Fund Direct-Growth -0.88 14.68 19.48 16.65 Mirae Asset India Opportunities Fund Direct- Growth -0.89 12.89 20.33 16.58 SBI Bluechip Direct Plan-Growth -0.86 10.53 13.30 15.96 Mirae Asset India Opportunities Fund Regular- Growth -0.95 12.48 19.44 15.66 FeaturedDSP BlackRock Focus 25 Direct Plan-Growth -0.74 8.95 12.81 14.55 Start SIP Don't invest on the basis of a mutual fund's best performance period: View Don't make future projections based on the best performance of a mutual fund. There will be flat years and years with big losses. 6 smartphones that stand out with unique designs Most smartphones look alike and it could be difficult to tell one from the other. ET Wealth finds the phones that seek to break this monotony.

Financial Calculators Tax Impact Calculator This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay. Home Loan Refinance Should you refinance your home loan? Use this calculator to find out if it is worthwhile to shift your home loan to another bank? Just enter the data and click next. It's that easy. More Calculators

Indians increasingly keen to travel in rainy season: Survey Monsoon is no longer a lean period for travel as 81% of respondents wanted to holiday this monsoon, finds a Yatra.com survey. Corporate profits downslide continues in Q1 of 2017-18 due to GST Since the market was expecting a poor set of numbers for this quarter, it did not react negatively. Some sectors, though, belied Street expectations. SBI Magnum Taxgain Scheme: What makes this mutual fund lag its peers The fund has recently been handed over to a new fund manager who maintains a strict value bias and insists on higher margin of safety in stock picks. Stock pick of the week: What makes Alkem Lab a good long term buy Alkem Lab is reasonably priced compared to its competitors and the recent correction has offered a good opportunity to long-term investors. How should you invest in a bull market? Don't select a fund based only on a single year's performance. You must look at how it has performed across different market environments. Saving for kids' education top worry for 35% people: Insurance survey According to a protection survey conducted by Birla Sun Life Insurance Company, uncertainty is taking a toll on as many as 78% respondents. What you should know about income tax refunds Income tax refunds are processed in two ways: Direct credit through RTGS / NECS or by a paper cheque. Family Finance: Patels can reach their goals by increasing SIPs every year Bhargav Patel's goals include saving for contingencies, kids' education and their weddings, retirement, vacation and a house. Tax Optimizer: NPS, tax-free perks can help salaried Purohit save more tax Paying too much tax? Write to us and our experts will tell you how to reduce your tax by rejigging your pay and investments. What does travel insurance cover? Travel insurance covers emergency evacuation expenses due to a natural calamity or terrorist activities, including the return flights home. Earnings should improve from here on: Raj Kumar, LIC Mutual Fund Asset Management "We help investors make prudent choices through diversification",Raj Kumar CEO, LIC Mutual Fund Asset Management Ltd Startup Simulanis uses augmented and virtual reality to skill professionals With an aim to help bridge the skills gap, through the aid of advanced technology, 28-year-old Raman Talwar founded Simulanis in November 2013. Alternative investment returns monitor: For the week ending August 16, 2017 The scope and attractiveness of alternative investments is increasing. Here's a weekly tracker of returns from such investments.

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