Deepak Jain

Sukanya Samriddhi Yojana  (currently giving 7.6% interest) Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10, with a minimum deposit of Rs 250 (Earlier it was Rs 1,000).  ◆In subsequent years, a minimum of Rs 250 and a maximum of Rs 1.5 lakh can be deposited during the ongoing financial year. ◆ The account can be opened in any post office or authorized branches of commercial banks. ◆The account will remain operative for 21 years from the date of its opening or till the marriage of the girl after she turns 18. ◆ To meet the requirement of her higher education expenses, partial withdrawal of 50 percent of the balance is allowed after she turns 18. ◆ Deposits in the account can be made till the completion of 15 years, from the date of the opening of the account. ◆ The account matures on the completion of 21 years from the date of opening or whenever the girl child gets married, whichever is earlier ◆ income-tax benefit under section 80 C...

Best Passive Income Ideas Passive income is one of the types of income for which you need to work for a limited time and it generates income for many years. Blogging You can write blogs and share your knowledge with the world. You can use Blogger or WordPress for starting a blog. The blogs which you will write on your blog will generate money with the help of ads that you will run on your blog site. You can also write blogs for someone else via freelancing work but that will be counted as active income. Have a look at  Tips for Professional Blog Writing . Youtube Create youtube videos with the knowledge that you have. You do not need an outstanding idea, your youtube channel can be fun learning videos for kids or review video for cloths, etc. I can see many youtube channels that are just teaching ABCD or colors to kids but they are having many subscribers.  You create a video once but they will generate income for you till people are watching it.   You...

Types of Investment Fixed Deposit/Recurring Deposit Mutual Funds Systematic Investment Plan (SIP) Pure Gold / Paper Gold Property PPF PF

Things to understand before investing in Mutual Funds How does Mutual Fund work? What are the types of Mutual Fund? There are multiple types of mutual funds but for simplicity, there are 3 types of funds - Equity MF - Higher risk - Higher returns Large Cap -   less risk and less returns Mid Cap -  medium risk and better returns than large-cap funds Small-Cap -  high risk and high returns Sector Fund Diversified Equity Fund Dividend Yield Schemes ELSS -  3yr locking, Tax saving in Section 80C Thematic Fund - Like Rural development, eCommerce, Housing, etc Debt MF - Moderate or less risk - Less returns  Gilt Funds  - invests in government securities  Junk Bond Schemes - investment in risky bonds but high return. Fixed Maturity Plans   Liquid Funds -  like Bank FD but you can withdraw money anytime. Hybrid MF - Invest in Equity and Bonds both Monthly income plan (MIP)  - 60-90% ...

Investment And Wealth Creation Tips for Beginners Below are my life learning - (1) Save before spending:  Every time you get a paycheque you should save at least 20% of your income. And increase saving with an increase in your income.  Please check out my detailed article for  Best Money Saving Tips (2) Learn share Trading: You should have Demat and trading account. Share investment is a very easy way to start your second source of income. (3) List down your life's financial goals as early as possible : 1. What do you want? 2 When do you want? 3 How much money will it require? Calculate how much money you need to save per month to achieve that goal. ( Www.sipcalculator.in ) For example, I want to have 1cr RS on my retirement. So if my age is 35 then I need to save 3050rs every month considering a 15% rate of interest till the next 25 yrs. I need to start SIP if I am expecting this much return. Please check out my detailed article on  ...