Hotness SERIOUS HELP NEEDED REGARDING INVESTMENT !!

Hot Deal SERIOUS HELP NEEDED REGARDING INVESTMENT !!

649°
Missing
Deal Cadet
50
103
0

• Guys , i posted a discussion forum recently , about how LIC is very a bad investment … i explained how mutual funds are better than LIC , some people messaged me that it helped them and now they have stopped LIC ….
• But the thing is that , my father has been told by many of his friends , that SIP mutual funds is gamble and all , he can even loss his invested money , ( I am talking about blue-chip large Cap companies SIP , or you can take index funds too , that too for a very long period of time almost 30 years , risk becomes almost zero ) … I got his point , he wants risk free investment …
• We are paying , very big premium every year in LIC , as no. of LIC we had opted , are way more than i thought … i calculated we are getting only around 7% returns , which is really low as policies are for very long term ( around 30 years ) and principle money is also big …
• Guys what would be the best alternative now , I want an option which is almost risk free and give more than 8% returns … As of now i can only think of PPF , if you know better option , please please reply …
NOTE :-
a) Stocks and Mutual funds aren’t option as they aren’t risk free …
b) he himself wants to know if there are any other better alternatives , I am not forcing ( lol , as many thinks ) … we are family , please think before commenting …

132 Comments  |  
47 Dimers
Cropped2051059084
Deal Cadet
240
460
6

Maybe dey wld be comfortable with legacy investment instruments….gold or real estate

Missing
Deal Cadet
109
775
7

Gold and Land(Real Estate)
Gold moves along with inflation rate, no profit and no loss

I’m not an expert here

Edit: Didn’t see the above comment, totally coincidental.

Missing
Deal Cadet
50
103
0
amitsp wrote:

Maybe dey wld be comfortable with legacy investment instruments….gold or real estate

He isn’t interested in gold and for investing in real estate you need huge lump sump money , we are paying big premium to LIC every year , but not this much that we can invest in real estate instead ….

Missing
Deal Cadet
135
454
5

If you are looking at 8% expected return, then have a look at short term debt funds.

Missing
Deal Cadet
50
103
0
B3A5T wrote:

Gold and Land(Real Estate)
Gold moves along with inflation rate, no profit and no loss

I’m not an expert here

Well then gold wouldn’t be a nice option , as we are looking an option to grow money , not just save … If only want to save , then I guess LIC is very good option , as money just moved with inflation rate and it also get locked for a long term …

Missing
Deal Cadet
50
103
0
mtrip wrote:

If you are looking at 8% expected return, then have a look at short term debt funds.

Buddy I thought of that , but I think my father won’t consider it any different from SIP … His friends will still say that it’s mutual funds you can lose money ….

Download
Deal Subedar
153
2058
131

you can create FDs/RDs for relatively lesser time
some banks offer good rates

Missing
Deal Cadet
50
103
0
Majestic wrote:

you can create FDs/RDs for relatively lesser time
some banks offer good rates

Bro no banks give more than 8% … Most of them give around 7%

Untitled 1
Critic
494
4294
122

Do nothing. Why do you want him to do what you think is right. Let him invest his money wherever he wants. And he is right. There is always risk involved with MF however low it is and it can’t be avoided.

46518697 2469454063095338 7352322572903514112 o
Deal Subedar
0
2119
81

If you ask me it’s equity..

Missing
Deal Cadet
50
103
0
Roushh wrote:

Do nothing. Why do you want him to do what you think is right. Let him invest his money wherever he wants. And he is right. There is always risk involved with MF however low it is and it can’t be avoided.

Bro when I told my dad that LIC isn’t best option as investment , he himself has asked me for better options , but he disagree with mutual funds option , that’s why I asked if anybody knows other better alternatives …
End Decision depends on him , but he wants me to find the best options , if he agrees to my point , he will stop LIC and invest in that …
I guess you missed my point , or maybe it’s because of my English …
The question is not to make him convince somehow to invest in mutual funds … question is to find better alternative than LIC ( endowment plans ) …

Missing
Deal Cadet
50
103
0
mrKool_JJ wrote:

If you ask me it’s equity..

Bro he doesn’t want to invest in mutual funds … I got your point though , if you were in his place you would have invested in equity

18157365 1092022577569460 9015892503473472591 n
Deal Subedar
122
1085
19

Invest your own money. Don’t force him to do unnecessary hassle when clearly he doesn’t want. And we both know he must be doing most of the things just as you want from the time you were born

46518697 2469454063095338 7352322572903514112 o
Deal Subedar
0
2119
81
Expand
Gotiya20 wrote:

Bro he doesn’t want to invest in mutual funds … I got your point though , if you were in his place you would have invested in equity

That’s what no pain no gain…

Missing
Deal Cadet
50
103
0
Expand
mrKool_JJ wrote:

That’s what no pain no gain…

I guess without pain , PPF with 8% return would be best for him … I am still searching for better options though …

Cropped6180125751458686699
Deal Subedar
141
1258
20
Expand
Gotiya20 wrote:

Bro when I told my dad that LIC isn’t best option as investment , he himself has asked me for better options , but he disagree with mutual funds option , that’s why I asked if anybody knows other better alternatives …
End Decision depends on him , but he wants me to find the best options , if he agrees to my point , he will stop LIC and invest in that …
I guess you missed my point , or maybe it’s because of my English …
The question is not to make him convince somehow to invest in mutual funds … question is to find better alternative than LIC ( endowment plans ) …

Return AND risk are Directly proportional. Don’t expect HIGH RETURN with Low Risk.

And yeah, LIC is super shit. It’s taking advantage of people being financial illiterate. Nothing more.

Missing
Deal Newbie
50
49
1

yes PPF is best risk free option with best interest rate. ( though few banks give almost similar FD interest as of PPF)
You can see NSC or saving plans from post offices.

Missing
Deal Cadet
50
103
0
cointalksindia142 wrote:

yes PPF is best risk free option with best interest rate. ( though few banks give almost similar FD interest as of PPF)
You can see NSC or saving plans from post offices.

Thanks

Missing
Deal Newbie
66
56
0

PPF or liquid funds

Untitled 1
Critic
494
4294
122
Expand
Majestic wrote:

https://www.paisabazaar.com/fixed-deposit/best-...

I wouldn’t trust these banks. Most of them are facing issues from past couple of years. specially Yes Bank and IndusInd Bank.

Because of their bad decision to invest most of their money into bad companies without much collateral. And most of those companies are going bankrupt.

They are offering more interest rate on FD so they can lure people into giving them more money to waste.

Cropped 1212623684
Deal Captain
29
7485
44

You can also open a Kisan Vikas Patra Account at your nearest Post office.
From 01.07​.2019, interest rates are as follows:-
7.6 % compounded annually
Amount Invested doubles in 113 months (9 years & 5​​ months)
Minimum of Rs. 1000/- and in multiples of Rs. 1000​/- No Maximum Limit.
-——-
Or

National Savings Certificates (NSC) is also a good option.

Below are details.
https://www.indiapost.gov.in/Financial/pages/co...

 20170305 121502
Entertainer
143
2744
46
Nomad wrote:

You can also open a Kisan Vikas Patra Account at your nearest Post office.
From 01.07​.2019, interest rates are as follows:-
7.6 % compounded annually
Amount Invested doubles in 113 months (9 years & 5​​ months)
Minimum of Rs. 1000/- and in multiples of Rs. 1000​/- No Maximum Limit.
-——-
Or

National Savings Certificates (NSC) is also a good option.

Below are details.
https://www.indiapost.gov.in/Financial/pages/co...

kvp is not a good option since 10 113 months and not tax benifit

better ppf (15Year) 80c + interest is tax free
if you falling in Tax bracket

Cropped 1212623684
Deal Captain
29
7485
44
Expand
OnlineBewda wrote:

kvp is not a good option since 10 113 months and not tax benifit

better ppf (15Year) 80c + interest is tax free
if you falling in Tax bracket

KVP is never for tax benefits purpose it’s should be seen as keeping you money safe & secure for 10yrs and getting it doubled.
For tax benefits one can invest in PPF, NSC or tax savings FD.
Also max limit of investment under PPF is 1,50,000 and in NSC & KVP it is unlimited in 1 financial year.
It’s totally personal choice how a person wants to diversify his savings into different schemes keeping it safely.

John
Deal Cadet
97
564
5
Expand
Gotiya20 wrote:

Bro when I told my dad that LIC isn’t best option as investment , he himself has asked me for better options , but he disagree with mutual funds option , that’s why I asked if anybody knows other better alternatives …
End Decision depends on him , but he wants me to find the best options , if he agrees to my point , he will stop LIC and invest in that …
I guess you missed my point , or maybe it’s because of my English …
The question is not to make him convince somehow to invest in mutual funds … question is to find better alternative than LIC ( endowment plans ) …

I too agree that LIC or any other insurance cum investment option is NOT an investment.

+ + + Everyone of us should take Insurance. One should be a term insurance and another should be Health insurance (family floater), even if your employer provides health insurance benefits.

+ + + if you are claiming for health issues, you should claim using your employer provided insurance coverage first. If you use yours they will revise the premium next year.

LIC is beneficial for elders. My mom’s age is 60+. I cannot take any term insurance cover at this age, as the premium will be very high and many wont’ provide coverage at this age. However, investment made in LIC provides around 6% interest + term insurance coverage for the sum assured. So, it is beneficial in this case.

So, before you stop your LIC payments for your father. Consider this too.

My suggestion would be ask your father to deposit half of the money in FD and half of the money in Mutual funds Liquid funds. Some of the funds provides debit card these days.

Missing
Deal Cadet
50
103
0
Expand
john78 wrote:

I too agree that LIC or any other insurance cum investment option is NOT an investment.

+ + + Everyone of us should take Insurance. One should be a term insurance and another should be Health insurance (family floater), even if your employer provides health insurance benefits.

+ + + if you are claiming for health issues, you should claim using your employer provided insurance coverage first. If you use yours they will revise the premium next year.

LIC is beneficial for elders. My mom’s age is 60+. I cannot take any term insurance cover at this age, as the premium will be very high and many wont’ provide coverage at this age. However, investment made in LIC provides around 6% interest + term insurance coverage for the sum assured. So, it is beneficial in this case.

So, before you stop your LIC payments for your father. Consider this too.

My suggestion would be ask your father to deposit half of the money in FD and half of the money in Mutual funds Liquid funds. Some of the funds provides debit card these days.

Thanks bro

Missing
Deal Cadet
50
103
0
Expand
Nomad wrote:

KVP is never for tax benefits purpose it’s should be seen as keeping you money safe & secure for 10yrs and getting it doubled.
For tax benefits one can invest in PPF, NSC or tax savings FD.
Also max limit of investment under PPF is 1,50,000 and in NSC & KVP it is unlimited in 1 financial year.
It’s totally personal choice how a person wants to diversify his savings into different schemes keeping it safely.

Point noted

Missing