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Sanjeev

Sanjeev Govila  |458 Answers  |Ask -

Financial Planner - Answered on Jul 31, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more
Asked by Anonymous - Jul 30, 2023Hindi
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Where senior citizen should invest?

Ans: There is nothing related to age in investing. Look for why you wish to invest (your 'financial goals'), your risk profile (how much volatility and risk can you take in your investments), your past experience of investing in various financial instruments and how long do you wish to invest. Answer these questions to yourself and then take a final decision.

If you find it difficult to do this, contact a professional financial advisor near you or online and take it ahead.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Tejas

Tejas Chokshi  |126 Answers  |Ask -

Tax Expert - Answered on Jul 15, 2023

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Hi Sir. What would be best investment for Senior Citizen less than 75 years age, with good tax savings option. Please suggest.
Ans: When considering investment options for senior citizens under the age of 75 with good tax savings options, there are a few options worth considering:

Senior Citizen Savings Scheme (SCSS): This government-backed scheme is specifically designed for senior citizens and offers attractive interest rates. Investments in SCSS are eligible for tax deductions under Section 80C of the Income Tax Act, up to a maximum limit of Rs. 1.5 lakh per financial year.

Pradhan Mantri Vaya Vandana Yojana (PMVVY): This scheme is offered by Life Insurance Corporation of India (LIC) and provides regular pension income to senior citizens. It offers a higher interest rate than other fixed-income instruments. PMVVY offers tax benefits on the pension received, and the investment amount is eligible for tax deductions under Section 80C.

Tax-saving Fixed Deposits (FDs): Many banks offer tax-saving FDs with a lock-in period of five years. The interest earned is taxable, but the investment amount is eligible for tax deductions under Section 80C.

National Savings Certificates (NSC): NSCs are issued by the Indian government and offer a fixed interest rate. The interest accrued is eligible for tax deductions under Section 80C. However, the interest earned is taxable.

Tax-saving Mutual Funds (ELSS): Equity Linked Saving Schemes (ELSS) are diversified mutual funds that invest primarily in equities. They offer the potential for higher returns over the long term. ELSS investments are eligible for tax deductions under Section 80C, up to a maximum limit of Rs. 1.5 lakh per financial year. However, please note that ELSS investments are subject to market risks.

It is important to consider your risk appetite, financial goals, and investment horizon before making any investment decisions. I would recommend consulting with a financial advisor who can assess your specific circumstances and provide personalized investment advice based on your needs.

..Read more

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Ravi

Ravi Mittal  |254 Answers  |Ask -

Dating, Relationships Expert - Answered on Jul 23, 2024

Asked by Anonymous - Jul 21, 2024Hindi
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Relationship
Me and my boyfriend are in long distance relationship from past 6 months, I told him about my past in almost starting of it that I had 2 friends with benefits in past and one of that person was my classmate as well as friend, and he used to still contact me, and when I came in relationship also, he called me during that time and I told regarding my relationship status, and I also informed my boyfriend that I talked with him but this thing happened before he knows that I had physical intimacy with him, then when he asked me to block, I suddenly question "what is the point of blocking him" which I regret the most, but I blocked him later by myself, now my boyfriend is sayine me that I have cheated him and he won't trust me till his death, but I told everything in past happened to him. I love him a lot but he is not giving to work together in this relationship and saying that he won't stay loyal to me anymore, he won't trust be ever, as per him I have cheated him, but my intentions were not wrong at all, tho that guy was in contact but I never initiate any conversation with him while I came into relationship, is it really a cheat, is it that he should not trust me anymore? Please guide
Ans: Dear Anonymous,

It sounds like you are going through a rough time and I am sorry for it. Here's a thought and I am sure you have thought of it too, try to see things from his perspective. While you know that you never cheated nor meant to, it is important to acknowledge that your boyfriend's feelings are valid. He is feeling betrayed and that's a fact. Now, our goal should be to fix this issue. How do we do it? Communication is the only way. Tell him that you understand his perspective but it is important that he sees yours too. If he wants to vent, listen to him. Do not interrupt or become defensive. Understand whatever he says is coming from his insecurity. I know it's difficult not to take it personally, but his statements will be a reflection of his feelings and not your character. Remember this during the conversation. Once he is done speaking, reassure him that you had no intention of cheating. You can also reassure him of your commitment. Promise to be more transparent and point out that you were honest with him from the beginning. If you had any intention to cheat, you could have easily not shared with him your past. But you did and that shows that you are committed to this relationship. Tell him that you understand the need for boundaries and it is not okay to be in touch with people who make your partner uncomfortable.

Look, rebuilding trust needs work and it also takes time. Both of you need to work on it. You will have to work on making him trust you and he will have to work on letting go of his misconception (which might be his reality) and trust you wholly again. Relationships don't work till two people trust each other completely. If he continues to say that he can't trust you again, it might be best to reconsider this relationship. Even though your words hurt him, you did not cheat on him in reality. Why should you have to live in fear that he will cheat on you merely to take revenge?

After you put in all the effort, see where it goes. If things do not get better, rethinking the relationship would be best. Everyone deserves someone who can trust and be trusted.

Best Wishes.

...Read more

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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