Did you make any of these 6 money mistakes in coronavirus crisis? A financial advisor could have helped

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THE ECONOMIC TIMES Tue, Jul 07, 2020 | 08:30 AM IST ET Wealth Newsletter

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Did you make any of these 6 money mistakes in coronavirus crisis? A financial advisor could have helped During the Covid crisis, did you withdraw from your EPF? Or did you avail the loan moratorium? Or did you withdraw from equity when the market crashed? If you have made such mistakes, here's how a financial planner could have helped you. Why Buffett kicked an investing strategy which was successful in his early days The 'cigar butt strategy' is a colourful colloquial investment term from Wall Street. This activity is also called penny stock investing and now-a-days in India, it is called rupee stock investing. Here's why even Warren Buffett is staying away from this strategy. Podcast: What should be your fixed income strategy now? Fixed income investors are a nervous lot. Returns from financial instruments like the FD have been falling for more than a year now. In this podcast, we will talk about what fixed income investors should do now. Host: Tania Jaleel; Producer: Paramveer Singh Mid-cap mutual fund schemes were least hit by March sell-off in stock market: Here's why The mid-cap fund category's superior downside performance has been backed by healthy upside capture since the March lows. Overall, mid-cap funds have emerged much stronger amid the see-saw in the broader markets. From our Partners Softening the blow: How #VirusPeVijay campaign helped one of the most vulnerable groups tide over the COVID-19 crisis The fight against COVID-19 especially during the lockdown, needed many hands and partners, as the world entered a global paralysis of sorts, the fight against this pandemic was too big for the government to handle alone From our Partners Conducting university level exams was never this easy Tool for online semester exams without connection issues Could a financial advisor have helped you in money crisis due to coronavirus? Find out It is only during crises like the current one that our faith in ourselves is shaken, making us wonder if we could do with outside help. If you too have been thinking about the need to hire a planner to guide you through the ongoing crisis and beyond, ask yourself these five questions. Gold loans are cheap and easy to get: Should you take one to tide over financial crisis? Experts are all for borrowing against gold. Other avenues like personal loans or credit cards entail huge costs that can put cash-strapped borrowers under further stress later. So, if you are facing a cash crunch, should you take a loan against gold? Top Mutual Funds SCHEME NAME RATING 3 YRS(%) 1 YR(%) 6 M(%) 1 M(%) Axis Bluechip Fund Direct Plan-Growth ★★★★★ 10.63 -0.58 -5.77 3.97 Invest Now Axis Bluechip Fund-Growth ★★★★★ 9.18 -1.76 -6.36 3.84 Invest Now Canara Robeco Bluechip Equity Fund Direct-Growth ★★★★★ 8.82 3.33 -2.40 4.82 Invest Now Canara Robeco Bluechip Equity Fund Regular-Growth ★★★★★ 7.49 1.91 -3.09 4.63 Invest Now HDFC Index Sensex Fund-Growth ★★★★★ 5.80 -7.22 -10.15 6.68 Invest Now FeaturedAxis Midcap Direct Plan-Growth ★★★★★ 9.95 6.54 -1.01 3.19 Start SIP Should you buy term life insurance with staggered payout option in case of death? Term insurance plans offer the staggered payout option instead of lump-sum payout in the event of the death of the insured person. However, such payout options offer low returns. When should you opt for such an option? PPF: 7 things you should know about Public Provident Fund A PPF account matures in 15 years. After the account matures, you can either withdraw the entire balance and close the account or extend it for five years with or without making further contributions.

FEATURED SLIDESHOWS

Covid-19 personal loans: Important things to know 5 ways you can make it easy for job recruiters to reject you Key features, watchouts of small or bite-sized insurance policies Got a savings bank account? Here's how to maximise its benefits More Slideshows

Financial Calculators Old or new tax slab regime? Use this calculator to find out This tax calculator will help you estimate your tax liability. Just input your personal income details and know how much you would be liable to pay. New LTCG tax calculator: Plan, compute your tax Use this tool to calculate long-term capital gains (LTCG) and the corresponding LTCG tax for listed shares and units of equity-oriented mutual funds.

Stock pick of the week: Why Hindalco is emerging stronger Hindalco is operating in a 'continuous process industry' so, its operations were not affected by the lockdown. However, its domestic demand came down which was managed by exporting more. HDFC Equity mutual fund review: Volatile returns won't suit all investors The fund has visibly underperformed over the past few years as several contrarian bets have not paid off. While its longer term track record is impressive and retains ability to outperform over entire market cycles, the oscillations in returns may not suit everyone. Realty hot spot series: Why Malad-Kandivali is a popular residential locality in Mumbai Properties in Malad-Kandivali are priced between Rs 11,600 per sq ft and Rs 20,100 per sq ft. A 1-BHK (610 sq ft) costs an average of Rs 89 lakh and a 4-BHK (2,500 sq ft) costs approximately Rs 4.3 crore. How to use MS Excel's Data Table to calculate efficiently To perform tabular investment-related calculations one can use MS Excel's Data Table. It helps to create one-dimensional as well as two-dimensional tables. Why millennials should not be pressured into making unsuitable money decisions If the expectation at school was about marks, performance and admissions, etc, did that pressure just extend into their adult lives, in the form of career, marriage, house, car, lifestyle and kids? Are we smothering them with our frameworks? 7 warning signs to watch out for when choosing a financial planner While a certification may be no guarantee that a planner will manage your finances well, by and large, it is an indicator of his ability to do so. So check his credentials and ask for the clients he has serviced in the past to ensure you are not dealing with a charlatan or a rookie. How to probate a will The requirement of mandatorily probating will differ from state to state. Here is the process you need to follow to probate a will. What are floating rate bonds? Floating rate bonds are different from regular bonds that pay a fixed rate of interest. Here are five features of these bonds. Want to save more? Here's how you can control your non-essential expenses To streamline your savings, you should write down all the expenses and categorise them as mandatory and discretionary expenses. By cutting down the discretionary expenses, you can save more. MF portfolio doctor: Jaiswal needs to delay retirement by 5 years to achieve money goals The Portfolio Doctor assesses the health of the fund portfolio, examines the schemes and their suitability with regard to the goals and, if required, recommends corrective measures. How Sensex, gold, 10-year G-sec performed during week ending July 2, 2020 Here is a weekly tracker of returns from Sensex, 10-year government bond yield and US dollar vis-a-vis Indian rupee.

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