𝐄𝐚𝐫𝐧 𝐌𝐨𝐧𝐞𝐲….𝐓𝐡𝐞 𝐒𝐦𝐚𝐫𝐭 𝐖𝐚𝐲

vinita kejriwal June 25, 2024

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Do you know what the smart way to earn money is?

When it comes to earning money, the conventional paths of salaries, businesses, or professions often come to mind. But what if there’s a smarter way to secure your financial future?

Investing offers a smarter approach to earning money.

When you invest, you’re putting your money to work for you. Instead of trading time for money, you let your money generate more money through various investment vehicles like mutual funds, stocks, or real estate.

𝐖𝐡𝐲 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐈𝐬 𝐒𝐦𝐚𝐫𝐭:
1. 𝐏𝐚𝐬𝐬𝐢𝐯𝐞 𝐈𝐧𝐜𝐨𝐦𝐞: Unlike active income from a job, investments can generate passive income. This means your money works for you even while you’re sleeping.
2. 𝐂𝐨𝐦𝐩𝐨𝐮𝐧𝐝 𝐆𝐫𝐨𝐰𝐭𝐡: Over time, your investments can grow exponentially through compound interest or appreciation. This snowball effect can significantly increase your wealth.
3. 𝐃𝐢𝐯𝐞𝐫𝐬𝐢𝐟𝐢𝐜𝐚𝐭𝐢𝐨𝐧: By investing in different assets, you spread your risk. A diversified portfolio can cushion you against losses in any single investment.
4.𝐋𝐨𝐧𝐠-𝐭𝐞𝐫𝐦 𝐖𝐞𝐚𝐥𝐭𝐡: Investing is not about getting rich quick; it’s about building long-term wealth and financial security.

𝐆𝐞𝐭𝐭𝐢𝐧𝐠 𝐒𝐭𝐚𝐫𝐭𝐞𝐝:
1. 𝐄𝐝𝐮𝐜𝐚𝐭𝐞 𝐘𝐨𝐮𝐫𝐬𝐞𝐥𝐟: Learn about different investment options and their risks.
2. 𝐒𝐞𝐭 𝐆𝐨𝐚𝐥𝐬: Define why you want to invest and what you hope to achieve.
3. 𝐂𝐨𝐧𝐬𝐮𝐥𝐭 𝐚 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐀𝐝𝐯𝐢𝐬𝐨𝐫: Get professional advice tailored to your financial situation and goals.

Remember, the smart way to earn money isn’t just about what you earn today but how you make that money work for you tomorrow and beyond. Start investing wisely, and watch your wealth grow over time.

Categories: Finance

Where Should You Invest?? Is it in Fixed Deposit or in Mutual Fund ?

vinita kejriwal April 2, 2024

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HOW THE CHAT GPT IS BENEFICIAL FOR CA IN PRACTICE IN INDIA

Introduction : GPT stands for “Generative Pre-training Transformer”. It’s a type of language prediction model developed by OpenAI that uses machine learning to generate human-like…

Rajendra Khandelwal June 30, 2023

Only 5 MFs allow NRIs residing in US and Canada to execute online transaction without any limits

NRIs based out of US and Canada can invest in Indian mutual funds. However, AMCs do not have a uniform policy to deal with US and Canadian clients.

Currently, close to 14 fund houses receive investment from investors based out of these two countries and another five AMCs receive investment only from US.

Broadly, there are two categories of fund houses here – where investors are not required to physically present in India and vice versa.

Here is the list of fund houses where investors are not required to be physically present in India:

Aditya Birla Sun Life Mutual Fund
Nippon India Mutual Fund
Quant Mutual Fund
Sundaram Mutual
UTI Mutual Fund

Interestingly, these fund houses allow such NRIs to invest in their MF schemes without any restriction that too through online transaction.

Let us look at the fund houses which insist NRIs to be physically present in India:

360 One Mutual Fund
Axis Mutual Fund
DSP Mutual Fund (Only lumpsum)
ITI Mutual Fund (Only lumpsum)
Kotak Mutual Fund
Navi Mutual Fund
PPFAS Mutual Fund
SBI Mutual Fund
Taurus Mutual Fund
White Oak Capital Mutual Fund

Similarly, here is the list of fund houses, which receive money only from US investors:

Bandhan Mutual Fund (Only US)
Edelweiss Mutual Fund (Only US)
HDFC Mutual Fund (Only US)
ICICI Mutual Fund (Only US)
Motilal Oswal Mutual Fund (Only US)

Please note that all these fund houses receive investment only through physical mode. Also, these fund houses insist NRIs to submit application form along with a declaration form indicating their residential status.

NRIs residing in US and Canada will have to share Foreign Account Tax Compliance Act (FATCA) details and tax identification number (TIN) along with KYC details.

FATCA declaration form captures information like type of address (residence, business, registered office etc.), country of tax residence, tax identification number, Global Intermediary Identification Number (GIIN) and seek investors consent for sharing the information with relevant tax authorities.

For transaction, an NRE (Non-Resident External) or NRO (Non-Resident Ordinary) account is a must.

Source: Cafemutual

vinita kejriwal February 3, 2024

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