Pension Awareness Day: Everything you need to know about NPS Diwas

  What is FIRE all about? FIRE (Financial Independence Retire Early) is a movement that began in the United States so that they could retire early and become financially independent so that they didn’t have to rely on any job in order to live their lives. In 1992, the book “Your Money or Your Life” published by Joseph R Dominguez helped encourage people to choose Life over spending most of it slogging at workplaces. With the advent of the Internet in the 2000s, FIRE gained popularity into mainstream media and many Americans have adopted this lifestyle change in order to retire early. The goal is to save and invest aggressively somewhere between 50–75% of your income so that you can retire sometime in your 30s or 40s( Get Early Retirement ).You heard it right, one needs to save at least half of their income in order to pursue a FIRE lifestyle. In order to pursue a FIRE lifestyle one must seek to do two things: keep their expenses extremely low and find ways to raise their i...

  Employee Provident Fund Employee Provident Fund is a scheme established by the government of India and set up by the EPFO (Employee Provident Fund Organisation) under the guidance of the Ministry of Labour and Employment. The goal of setting up this scheme was to promote a sense of savings among the employees and help them build an optimised retirement corpus. Any establishment with more than 20 employees needs to register itself under the EPFO Act 1952. Only salaried employees registered under the EPF act can invest in EPF. This scheme enables both the employer and the employees to contribute 12% of the employee’s basic salary and dearness allowance towards EPF. # Is Investing under EPF safe? EPF is one of the safest modes of Investments available due to its statutory backing. The funds collected in the EPF scheme are managed by the EPFO. They invest 15% of the money collected in equity which can be looked at as diversification. For the current financial planning ye...