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Holistic investment planners, financial planning Chennai, Private wealth management Chennai

Holistic investment planners, financial planning Chennai, Private wealth management Chennai

Financial Planning chennai India, Private wealth management chennai India, Investment Advisory India, Systematic Investment Plan, Mutual Fund SIP, Mutual Fund ELSS, Tax Saving scheme

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start and stop through sip

Stop Paying Through EMI; Start Paying Through SIP

by Holistic Leave a Comment | Filed Under: SIP Investment

Introduction

Today the market is flooded with zero percent interest rates purchase schemes where a consumer is lured with attractive offers to buy electronic gadgets and expensive things like cars. People find these offers irresistible; fail to analyze the invisible trap set like processing fee and other hidden charges. The solution to handle such special expenses is starting a SIP.

EMI – An overview

The advent and maximization of credit card usage have led to an increase in zero percent interest offers. Today credit cards are easily available unlike the past where it was considered a privilege to possess one. People consider it a status symbol to have multiple cards. An often-quoted joke is Credit card is the devil’s most precious gift to mankind.”

A host of services and products are available on EMI at zero percent interest. People are flooded with offers from credit card providers and are explicitly convinced of how EMI’s ease the burden of paying upfront. We often fall prey and fail to realize that it may involve hidden costs. These costs mount towards interest and are collected upfront. For example if zero percent interest scheme on a product worth Rs.50,000 is for a period of 6 months and an upfront service charge of 4% is levied , the purchaser pays up Rs.2000 upfront.

A significant outcome of zero percent interest schemes is, it is generally offered on MRP unlike upfront cash payment which entitles us for a discount. The cost difference between MRP and discount is also to be borne by the purchaser.

How zero percent interest schemes influence the investors?

Though we are aware of our financial constraints the desire to own the latest, works in favour of EMI. Leading retail chain stores and consumer durables confirm that their sales have increased manifold after the launch of zero percent EMI.

The way to maximize profit and also get prolonged pleasure through delayed gratification is to start a Systematic investment plan. (SIP)

Understanding SIP Basics

A basic understanding of what a SIP is, makes it more preferable than zero percent interest schemes. A SIP enables a person to invest a fixed amount in the stock market or debt regularly (monthly or quarterly) for a fixed period of time. An equity fund SIP is similar to a recurring deposit (RD) but the amount is invested in mutual funds and the returns are higher than an RD but subject to market risk. A debt fund sip is like a recurring deposit and here the risk is very less and you can expect slightly better return than the RD.

In SIP, an investor commits to invest a fixed amount every month for a specific period of time. The minimum amount is Rs.100 per month.

Unlike an RD where the interest rate is fixed SIPs give a higher return on investment.

SIP Merits

To purchase expensive items start specific Sip’s. For example, to purchase a LED TV priced at Rs75, 000 starts a SIP called “LED SIP”. Set a target time for the purchase, say 10 months.You can do a SIP of 7500 Rs per month for 10 months.

It is prudent to account for ten percent more than the actual price when initiating a SIP to handle future price revision if any.

Based on the financial goals choose the appropriate type of SIP. For short term goals choosing “debt as an asset class” helps, it can be a debt mutual fund or FD (Fixed Deposit) or RD. For long term goals (7-9 years) “SIP in equity” is the choice and for midterm say 5 years, a combination of debt and equity works best.

Generally once a purchase is made or lifestyle change is initiated through an acquired product we get accustomed to it and stop deriving pleasure after a while, take it for granted. However if we opt for future purchase through SIP we keep thinking/dreaming about it. The dream is for a definite period since our financial goal has already been set.

Imagine starting a SIP to purchase a car. Every month you would think about driving a brand new car. This gives pleasure free of cost. Finally when you redeem the amount it gives satisfaction and pride.”I deserve it” will be your thought, a sense of achievement sets in. You do not incur direct/hidden costs.SIP paves way for delayed gratification which eventually becomes prolonged.

SIP Calculator

Choose your desired SIP amount and let’s calculate the returns on your Mutual Fund Investment using the Mutual Fund Calculator, shown below:

Conclusion

Understanding EMI’s, their influence on our ego, their disadvantages and how to overcome the hurdles of impulsive purchases is what we scrutinized and the solution we have chosen is SIP. Unlike hidden costs in zero percent investment schemes SIPs ensure transaction transparency. The simplicity of SIP and its working principles make it the most preferred investment option.

If you are REALLY inclined to make this solid difference in achieving your financial goals by creating a financial plan, then I would suggest you test-drive our services by opting for

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Lingesh MMG
Lingesh MMG
20. September, 2023.
Na eppo tha financial goal la enna therunju kitta..enaku full support panna thuku thank you..🥰 friendly nalla pesuninga...
Ravi L
Ravi L
15. August, 2023.
Very knowledgeable and professional team, guided me with the precise financial solutions and timely suggestions.
Hardik Dave
Hardik Dave
5. July, 2023.
Holistic Investment is really nice and trust worthy financial planner. They plan things in realistic manner and also consider future dimensions of items also. They are always available for small or big queries, and also share knowledge and help you become more financial literate, and take right decisions in all financial matters.
Dr. Padmakar Wagh
Dr. Padmakar Wagh
27. June, 2023.
Mr Ramalingam who is the Director of Holistic investments has a excellent financial planning knowledge, the entire Holistic team has been very helpful in my financial planning journey and execution. This is my third year of financial planning with Holistic investments and so far I am satisfied with the progress I have made.
Binamra Dash
Binamra Dash
13. June, 2023.
Very knowledgeable team. Guided me properly with my concerns.
Murugan Bala
Murugan Bala
16. May, 2023.
I have been investing through Holistic for the past 4 years and my experience with them have been really good. The team of Rajan and Ramalingam doing excellent services in meeting my needs through proper guidance on investment options customized. Theya re always available on any specific needs time to time.I would recommend their services to my friends and colleagues too.
Neeraja R K
Neeraja R K
15. May, 2023.
Working with holistic investment planners was a really wonderful experience for me. For me the entire team had been very supportive in all ways. Their working strategy is well planned and methodical. They always keep me informed and updated about my investments, so that i can take informed decisions. The team first helps us understand the basics of investments, then they collect data, work with the data and then provide investments solutions according to our goals which i find it the best. Good luck to the entire team.
deepika kulkarni
deepika kulkarni
21. April, 2023.
We have availed holistic service from last couple of years and are very happy with our decision. Their systematic approach has helped us plan our finances and meet our goals. They provide very comprehensive and detail plan and resource management every 6 months which ensures we are on right track to achieve our goals. Rajan and Ramalingam from holistic are always there to help us with our queries. They have also accommodated any changes to our goals or resources mid year in a professional manner.
Ashook Panneerselvam
Ashook Panneerselvam
21. March, 2023.
For the past year, I have been interacting with Holistic Investment. I frequently read Nanayam Vikatan, which is a publication owned by the Vikatan family, and I was impressed by their financial advice. My brother also suggested holistic investing, and he also got excellent financial advice. Holistic Investment follows a methodical approach that I really liked because they first fully understand our financial situation "As Is," which includes "Assets" and "Liabilities," as well as our short-, mid-, and long-term goals, on the basis of which they provide a detailed plan on how to achieve our goals for which they are recommending various investment options. Even in the investment advice, why do they suggest particular mutual funds and what is the justification behind it, which adds transparency to the client. One essential factor is that they are always available. Even if I needed to make some urgent financial decisions, they were very helpful and kind to answer my questions via phone calls, WhatsApp messages, and emails. I was very happy with their service. Periodic reviews are also crucial, even though I have forgotten that they occur once every three months, and I also intend to renew this year.
Mahesh S
Mahesh S
19. February, 2023.
I have availed Holistic investment service for last 1yr against my early retirement decision. they provided me comprehensive detailed report how to move ahead with my existing resources. moreover, they are available to me whenever i have any doubt.. highly recommend others to avail their service
Google rating score: 4.5 of 5,
based on 104 reviews

Google Reviews

Lingesh MMG
Lingesh MMG
20. September, 2023.
Na eppo tha financial goal la enna therunju kitta..enaku full support panna thuku thank you..🥰 friendly nalla pesuninga...
Ravi L
Ravi L
15. August, 2023.
Very knowledgeable and professional team, guided me with the precise financial solutions and timely suggestions.
Hardik Dave
Hardik Dave
5. July, 2023.
Holistic Investment is really nice and trust worthy financial planner. They plan things in realistic manner and also consider future dimensions of items also. They are always available for small or big queries, and also share knowledge and help you become more financial literate, and take right decisions in all financial matters.
Dr. Padmakar Wagh
Dr. Padmakar Wagh
27. June, 2023.
Mr Ramalingam who is the Director of Holistic investments has a excellent financial planning knowledge, the entire Holistic team has been very helpful in my financial planning journey and execution. This is my third year of financial planning with Holistic investments and so far I am satisfied with the progress I have made.
Binamra Dash
Binamra Dash
13. June, 2023.
Very knowledgeable team. Guided me properly with my concerns.
Murugan Bala
Murugan Bala
16. May, 2023.
I have been investing through Holistic for the past 4 years and my experience with them have been really good. The team of Rajan and Ramalingam doing excellent services in meeting my needs through proper guidance on investment options customized. Theya re always available on any specific needs time to time.I would recommend their services to my friends and colleagues too.
Neeraja R K
Neeraja R K
15. May, 2023.
Working with holistic investment planners was a really wonderful experience for me. For me the entire team had been very supportive in all ways. Their working strategy is well planned and methodical. They always keep me informed and updated about my investments, so that i can take informed decisions. The team first helps us understand the basics of investments, then they collect data, work with the data and then provide investments solutions according to our goals which i find it the best. Good luck to the entire team.
deepika kulkarni
deepika kulkarni
21. April, 2023.
We have availed holistic service from last couple of years and are very happy with our decision. Their systematic approach has helped us plan our finances and meet our goals. They provide very comprehensive and detail plan and resource management every 6 months which ensures we are on right track to achieve our goals. Rajan and Ramalingam from holistic are always there to help us with our queries. They have also accommodated any changes to our goals or resources mid year in a professional manner.
Ashook Panneerselvam
Ashook Panneerselvam
21. March, 2023.
For the past year, I have been interacting with Holistic Investment. I frequently read Nanayam Vikatan, which is a publication owned by the Vikatan family, and I was impressed by their financial advice. My brother also suggested holistic investing, and he also got excellent financial advice. Holistic Investment follows a methodical approach that I really liked because they first fully understand our financial situation "As Is," which includes "Assets" and "Liabilities," as well as our short-, mid-, and long-term goals, on the basis of which they provide a detailed plan on how to achieve our goals for which they are recommending various investment options. Even in the investment advice, why do they suggest particular mutual funds and what is the justification behind it, which adds transparency to the client. One essential factor is that they are always available. Even if I needed to make some urgent financial decisions, they were very helpful and kind to answer my questions via phone calls, WhatsApp messages, and emails. I was very happy with their service. Periodic reviews are also crucial, even though I have forgotten that they occur once every three months, and I also intend to renew this year.
Mahesh S
Mahesh S
19. February, 2023.
I have availed Holistic investment service for last 1yr against my early retirement decision. they provided me comprehensive detailed report how to move ahead with my existing resources. moreover, they are available to me whenever i have any doubt.. highly recommend others to avail their service
Google rating score: 4.5 of 5,
based on 104 reviews

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