The Art of Money by KG

Dear Friends, Hope you all are staying safe with your family in these tough times of Covid-19. With ample of time in hand, I definitely suggest to sort out your finances, realign the portfolio as per your risk tolerance and future goals. You all should have heard about the current Sovereign Gold Bond (SGB) scheme going on for the current financial year 2020-21. SGB is available with tenure of 8 years with exit options available in 5 th , 6 th , 7 th  year also. With Akshay Tritiya round the corner, why not give SGB a shot ? If you need more details before making an informed decision , please read below.   Let’s discuss about this scheme in detail. What is Sovereign gold bonds (SGB) scheme? SGB is a government security issued by Reserve Bank of India on behalf of Government of India. It is denominated in grams of Gold. You can buy from a minimum of 1 gram to a maximum of 4 Kilograms. SGBs are simple and useful substitute of holding physical go

Hello Friends, Hope you like my previous post about getting insured. If you are following my advice and shaping your financial world as the way suggested, you would have already made a plan to cover up the necessities of financial planning. Now it’s time to move to goal oriented actual investments. We all need some goals in our life. Goals can be of various type like personal, professional, financial,  etc . But today we will discuss only about the Financial goals and how to achieve it.   First, you need to jot down all your major goals, amount required to achieve goal and the time you have to achieve those goals. Once you are done with the important goals, you can segregate them with respect to time frame you have to achieve the goals. The goals are divided into categories like Short Term Goals, Medium term goals and Long term goals.     Some example of goals can be as below     Sr. no.  Goal description Total Amount in Rs. Time to

Dear Friend, After successfully creating a corpus of your Emergency fund, it’s a good time to move your focus to the next step. That is, starting to invest a small portion of your money to create a big corpus for your goals. Everyone has different income, expenditure patterns and saving goals. But one thing is constant:   SAVING . In order to achieve your goal, you need to start saving today. Some easiest options to save money for a beginner are: Recurring deposit and Fixed deposits . 1.      Recurring deposits : Popularly known as RD, are the simplest option to start saving a small sum of money today. All the Nationalized or other banks provide this facility to start RD either online or through personally visiting the bank branch. In RD, you give an instruction to the bank to deduct a particular amount of money every month on a chosen date for a chosen period of time. Example to make it more clear: Suppose, Gaurav will need Rs. 20,000/- in next year April for pur