The Telegraph 510 x 330 mm - UTI Swatantra · 2017-12-07 · You can access your electronic...
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THE ARTILLERY YOUR FINANCES NEED – TECHNOLOGY Mutual Fund investments are subject to market risks, read all scheme related documents carefully. NEXT EDITION: Tax management is an art. In the upcoming edition, we will help you master this art. We will look at how a few smart investment tips can help you effectively manage your Taxes. WHAT NEXT? Financial protection is necessary - for you as well as your family. You can’t make up for the emotional loss in their lives after you are gone. But you can and must provide for the financial loss thereafter. Let’s look at your legacy planning and how technology can benefit you. For more details, follow us on Twitter @utimutualfund; Email queries or suggestions: [email protected] Please mention ‘Swatantra in TT’ in subject line. For more such financial advice, scan the QR code or head to our website: http://www.utiswatantra.com SCAN THIS QR CODE FOR A BETTER INVESTING EXPERIENCE. Steps to download and scan a QR code: 1) Download QR code app on your phone. 2) Run app and scan the QR code. 3) Your smartphone reads the code & navigates to the destination. Risk is an integral part of our lives. One can never predict the future. But avoiding risks to stay protected will not benefit you either. It might as well go the other way! Bank Fixed Deposits give you an interest rate of about 6% to 6.5%. But that investment is a risk in itself, as the growth rate is below the inflation rate. So, Systematic Investment is the best option. SURAJ KUMAR KEDIA Founder Member, Shrambal Consultants Pvt. Ltd Why a little risk is important for your investments …to ensure your family lives a stress-free life. WHAT is nomination? WHY do you need a nominee? It is the process of authorising someone (nominee) to take care of your assets after you. In your absence, it is your nominee who is responsible to rightfully distribute your assets among your legal heirs. In the absence of a nominee, your family is likely to go from pillar to post to get the money that you leave behind. WHO can be a nominee? HOW many nominees can you have? Anybody can be a nominee except a Company, Body Corporate, Partnership Firm, Hindu Undivided Family (HUF), Society or Trust (other than a Religious or Charitable Trust). You can even have a minor nominee. You can have up to three nominees for your Mutual Fund (MF) account. In such a case, you must specify the percentage of investment for each of them. Or else, your MF investments will be distributed equally among your nominees. YOUR NOMINEE DETAILS MUST BE UPDATED… HOW can you appoint a nominee? Every army needs an artillery to fight enemies. You too need the artillery called technology to overcome any hurdles between you and your financial goal. Here are the bullets it arms you with: NOMINEE THEN NOW The softer version Keep multiple photocopies of all the financial documents Keep a soft copy of your financial documents Your family can have access to all the important documents just at the click of a button. This is not only a simpler way of storing the documents but also a safer one. Download the nominee form You can appoint a nominee for your bank account or investments like Mutual Fund (MFs). All this can be done online. For MF nominee, you can download the form from the MF Company’s website or transfer agents such as CAMS. Your nomination Fill the physical nomination form The ‘digital’ memories Let photos help your loved ones remember the old days Make your presence felt through videos You can record a video with a personal message to leaving behind something that is not just monetary. You can attach the same to an email and schedule it to be sent on a later date. The Will game Approach a Notary Use e-Will With an e-Will, you can record your wishes without getting entangled in paperwork. Moreover, this is a cheaper option. The Do's and Don’ts of legacy planning Create a will; clearly mention your nominee/ legal heir Don’t wait till your retirement because life can take unexpected turns; the earlier you start planning, the better Ascertain the costs involved and start making provisions for the same Keep reviewing your plan at regular intervals Seek help from professionals and other trusted experts Maintain hard and soft copies of all your important documents NOMINEE TIME EFFICIENT Technology helps you save time by eliminating unwanted processes and systems. It also helps you be more disciplined and on time. EXAMPLE Emails reduce the time taken to transfer documents. Automated payments also save time. ACCESS TO INFORMATION There is an array of financial information available on the internet. Technology, thus, equips you to make informed financial decisions. EXAMPLE Learn, research and analyse easily before jumping into the world of investments. PAPERLESS, WORLDWIDE ACCESS Gone are the days when managing finances involved a lot of paperwork. Also, lesser use of paper means a greener environment. EXAMPLE You can access your electronic documents anywhere and anytime. EASY INVESTING No need to visit physical branches anymore to buy investment products. Just do it on the financial service provider’s website or through mobile applications. EXAMPLE You can order a top-up for your Systematic Investment Plan (SIP) through your phone. FASTER COMMUNICATION With mobile phones and high-speed internet, you can communicate faster with your colleagues, clients, financial advisors, lawyers, and other professionals. EXAMPLE Instruct your Financial Advisor to place an order within minutes to benefit from market volatility. EFFECTIVE MONEY MANAGEMENT You can use web and mobile tools/applications to budget, plan investments, calculate goals and even monitor your money. EXAMPLE Use an online calculator to determine the right SIP amount. ` ` ` ` ` ` ` The Aadhaar and PAN Cards act as identification documents when you invest. Your PAN acts as an identity proof while Aadhaar acts as your address proof. Aadhaar is now mandatory for linking all investment documents. What if you do not have a PAN Card? You can invest up to `50,000 per Mutual Fund per year with your Aadhaar-based KYC (Know Your Customer). If your investment crosses `50,000 per year, you will have to do a PAN-based KYC. Both your PAN and Aadhaar are mandatory in this case. Through the PAN, you can get your Consolidated Account Statement. This gives details of your investments across all Funds and Fund Houses. If you lose the folio details of your investments, you can get all details using your PAN. But for this, your PAN must be registered in your investment accounts. HERE’S WHAT THE EXPERT SAID A reader asked us: For what purposes can I use Aadhaar and PAN while making investments? SANDEEP CHHAJER Founder, Subshanti Advisory Arm your finances with one more bullet - a Systematic Investment Plan (SIP). Each SIP is a bullet targeted at the enemies that stand between you and your goals. But, fire the SIP bullet at the right time! WHY ● Procrastination isn't good ● You do not indulge in unnecessary spending ● You tend to be more disciplined financially ● You can streamline your monthly expenses WHEN As soon as you get your salary REMEMBER SIP first, spend later DON’T Wait for a specific date like the 7 th of every month SIP CORNER PLAN YOUR SIP DATES WELL www.utiswatantra.com www.utiswatantra.com Technology ensures you only have to download the nomination form available on the financial provider’s website. Fill in the form & submit. They say, it is not what you take with you, but what you leave behind that defines greatness. And technology can help you make it better. WHAT LEGACY ARE YOU LEAVING BEHIND?
Transcript of The Telegraph 510 x 330 mm - UTI Swatantra · 2017-12-07 · You can access your electronic...
THE ARTILLERY YOUR FINANCES NEED – TECHNOLOGY
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
NEXT EDITION: Tax management is an art. In the upcoming edition, we will help you master this art.We will look at how a few smart investment tips can help you effectively manage your Taxes.
WHAT NEXT?
Financial protection is necessary - for you as well as your family. You can’t make up for the emotional loss in their lives after you are gone. But you can and must provide for the fi nancial loss thereafter. Let’s look at your legacy planning and how technology can benefi t you.
For more details, follow us on Twitter @utimutualfund; Email queries or suggestions: [email protected] Please mention ‘Swatantra in TT’ in subject line. For more such fi nancial advice, scan the QR code or head to our website: http://www.utiswatantra.com
SCAN THIS QR CODE FOR A BETTER INVESTING EXPERIENCE.Steps to download and scan a QR code: 1) Download QR code app on your phone. 2) Run app and scan the QR code. 3) Your smartphone reads the code & navigates to the destination.
Risk is an integral part of our lives. One can never predict the future. But avoiding risks to stay protected will not benefi t you either. It might as well go the other way! Bank Fixed Deposits give you an interest rate of about 6% to 6.5%. But that investment is a risk in itself, as the growth rate is below the infl ation rate. So, Systematic Investment is the best option.
SURAJ KUMAR KEDIAFounder Member, Shrambal Consultants Pvt. Ltd
Why a little risk is important for your investments
…to ensure your family lives a stress-free life.
WHAT is nomination? WHY do you need a nominee?It is the process of authorising someone (nominee) to take care of your assets after you.
In your absence, it is your nominee who is responsible to rightfully distribute your assets among your legal heirs.In the absence of a nominee, your family is likely to go from pillar to post to get the money that you leave behind.
WHO can be a nominee? HOW many nominees can you have? Anybody can be a nominee except a Company, Body Corporate, Partnership Firm, Hindu Undivided Family (HUF), Society or Trust (other than a Religious or Charitable Trust).You can even have a minor nominee.
You can have up to three nominees for your Mutual Fund (MF) account.In such a case, you must specify the percentage of investment for each of them. Or else, your MF investments will be distributed equally among your nominees.
YOUR NOMINEE DETAILS MUST BE UPDATED…
HOW can you appoint a nominee?
Every army needs an artillery to fi ght enemies. You too need the artillery called technology to overcome any hurdles between you and your fi nancial goal. Here are the bullets it arms you with:
NOMINEE
THEN NOWThe softer version
Keep multiple photocopies of all the fi nancial
documents
Keep a soft copy of your fi nancial documents Your family can have access to all the important documents just at the click of a button. This is not only a simpler way of storing the documents but also a safer one.
Download the nominee form You can appoint a nominee for your bank account or investments like Mutual Fund (MFs). All this can be done online.For MF nominee, you can download the form from the MF Company’s website or transfer agents such as CAMS.
Your nominationFill the physical
nomination form
The ‘digital’ memories Let photos
help your loved ones remember
the old days
Make your presence felt through videosYou can record a video with a personal message to leaving behind something that is not just monetary. You can attach the same to an email and schedule it to be sent on a later date.
The Will gameApproach a
NotaryUse e-WillWith an e-Will, you can record your wishes without getting entangled in paperwork. Moreover, this is a cheaper option.
The Do's and Don’ts of legacy planning Create a will; clearly mention your nominee/ legal heir Don’t wait till your retirement because life can take unexpected turns; the earlier you start planning, the betterAscertain the costs involved and start making provisions for the sameKeep reviewing your plan at regular intervalsSeek help from professionals and other trusted expertsMaintain hard and soft copies of all your important documents
NOMINEE
TIME EFFICIENTTechnology helps you save time by eliminating
unwanted processes and systems. It also helps you be more disciplined and on time.
EXAMPLE Emails reduce the time taken to transfer
documents. Automated payments also save time.
ACCESS TO INFORMATIONThere is an array of fi nancial information available on the internet. Technology, thus, equips you to make informed fi nancial decisions.
EXAMPLE Learn, research and analyse easily before jumping into the world of investments.
PAPERLESS, WORLDWIDE ACCESS
Gone are the days when managing fi nances involved a lot of paperwork.
Also, lesser use of paper means a greener environment.
EXAMPLE You can access your electronic
documents anywhere and anytime.
EASY INVESTINGNo need to visit physical branches anymore to buy investment products. Just do it on the fi nancial service provider’s website or through mobile applications. EXAMPLE You can order a top-up for your Systematic Investment Plan (SIP) through your phone.
FASTER COMMUNICATION With mobile phones and high-speed internet, you can communicate faster with your colleagues, clients, fi nancial advisors, lawyers, and other professionals.EXAMPLE Instruct your Financial Advisor to place an order within minutes to benefi t from market volatility.
ACCESS TO INFORMATION
EASY INVESTING
EFFECTIVE MONEY MANAGEMENT
You can use web and mobile tools/applications to budget, plan investments, calculate goals and
even monitor your money. EXAMPLE
Use an online calculator to determine the right SIP amount.
`̀
`
``̀ `
The Aadhaar and PAN Cards act as identifi cation documents when you invest. Your PAN acts as an identity proof while Aadhaar acts as your address proof. Aadhaar is now mandatory for linking all investment documents.
What if you do not have a PAN Card? You can invest up to `50,000 per Mutual Fund per year with your Aadhaar-based KYC (Know Your Customer).
If your investment crosses `50,000 per year, you will have to do a PAN-based KYC. Both your PAN and Aadhaar are mandatory in this case.
Through the PAN, you can get your Consolidated Account Statement. This gives details of your investments across all Funds and Fund Houses.
If you lose the folio details of your investments, you can get all details using your PAN. But for this, your PAN must be registered in your investment accounts.
HERE’S WHAT THE EXPERT SAID
A reader asked us: For what purposes can I use Aadhaar and PAN while making investments?
SANDEEP CHHAJER
Founder, Subshanti Advisory
Arm your fi nances with one more bullet - a Systematic Investment Plan (SIP). Each SIP is a bullet targeted at the enemies that stand between you and your goals. But, fi re the SIP bullet at the right time!
WHY● Procrastination isn't good● You do not indulge in unnecessary spending ● You tend to be more disciplined fi nancially● You can streamline your monthly expenses
WHENAs soon as you get your salary REMEMBER
SIP fi rst, spend later
DON’T Wait for a specifi c date like the 7th of every month
SIP CORNERPLAN YOUR SIP DATES WELL
ARTILLERY EFFECTIVE MONEY
PAPERLESS,
TIME EFFICIENT
www.utiswatantra.com
www.utiswatantra.com
Technology ensures you only have to download
the nomination form available on the
fi nancial provider’s website. Fill in the
form & submit.
They say, it is not what you take with you, but what you leave behind that defi nes greatness.And technology can help you make it better.
WHAT LEGACY ARE YOU LEAVING BEHIND?
