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What will happen to your PPF account once it completes 15 years?? Many are unaware (including bank staff). Hence, it is wise to understand the rules properly.
Read a thread..
BasuNivesh Fee Only Financial Planners
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BasuNivesh Fee Only Financial Planners
@BasuNivesh
Founder and Partner of BasuNivesh Fee-Only Financial Planners | Certified Financial Planner | Blogger (basunivesh.com)
- The most underrated and best movie of @shetty_rishab is "Sarkari Hiriya Prathamika Shaale-Kasaragodu".
- Sri Lanka's Stock Market (CSE All Shares) is currently around the 2011 year level and Pakistan's KSE 100 is now at around the 2016 year level. How many of us are prepared for such ZERO to NEGATIVE returns for 6-11 years of investment? It may happen or may not in India. But....
- Compound effect... If you start investing Rs.1,50,000 a year in PPF, then from 11th year onwards you will earn more interest than your yearly contribution (assumed 7.1% rate).
- Sudden wealth often brings more confusion than comfort. Met a prospective client, an IT professional who sold his ancestral land (3–4 generations old) for whopping 100+ Cr. Now he’s struggling with the real challenge - how to deploy, control emotions, & stay away from misselling.
- My daughter said our car is the smallest on the street. I told her that I had no car loan, was fully owned, and had spent just 3% of my financial assets on a depreciating asset. That’s a win :)
- A 63 years old lady purchased the traditional LIC pension plan when she was 24 Yrs. The term was 30 Yrs. The current monthly pension is Rs.1,000 which as per her 2-3 days of expenses. This is a classic example of how inflation erodes your money.
- The most dangerous species for your money are BANKERS!! @TheOfficialSBI bank sold an annuity plan of 22 lakh to a retired lady as a FD. She visited the branch to renew the FD. @SBILife Bankers are nowadays white-collar Crooks. @RBI Retweet and support against such malpractices.
- PATIENCE.. A Chinese bamboo tree takes 5 years to grow. It doesn't break through the ground for 5 years. After 5 years, it will grow 90 feet in 5 weeks! Equity investing is like this. If you are expecting 90 feet growth in 5 weeks, prepare yourself mentally to wait for 5 years.
- 10 years back my daughter's 1st standard fee was Rs.40000. Now for her 11th standard, I have to pay around Rs.2 Lakh. Inflation of around 17%. Now search for an asset which meets this rate OR invest more!!
- Checking your portfolio daily is like putting up a webcam in the forest to see if the trees are growing.
- Some best options are never sold by middlemen but you have to buy. 1. Term Life Insurance 2. Super Top Up Health Insurance 3. Accidental Insurance 4. Index Funds 5. Bank FDs / RDs (If your goal is less than 3 yrs). 6. PPF, VPF or SSY 7. Post Office MIS and SCSS or PMVVY
- LIC is the biggest contributor for Indian investors to generate NEGATIVE REAL RETURNS on their investments. Both seller and buyer forgot the importance of LIFE INSURANCE.
- Replying to @BasuNiveshI wrote a detailed post on this. You can refer the same also. PPF withdrawal rules & options after 15 years maturity
