Droplet Wealth

                         Most of us fail to understand the fundamental purpose of life insurance. We are made to believe that insurance is saving or worse in most cases an investment. However, the whole idea of insurance is to cover the  risk of  loss. In simple terms, insurance is a financial backup for the family highly dependent on their breadwinner. To make it even simpler, let me give you an example as to how insurance should be looked at - You buy a two-wheeler or car and get it insured - what happens here? Your car is insured for a specific amount and in case of any loss/damage to your vehicle; the insurer will pay you, post the inspection and only for the quantum of damage . Wonder how would you feel if anybody asks you - "What is the return I will get for the premium I paid on my motor vehicle ". Won't it sound ridiculous?              The more we talk to people...

Click here to read the article in Tamil   Start early.  Be it be health or wealth start early. It does not matter whether you run a full marathon or talk a small walk around the park. Starting early only matters. Likewise, start saving right away, Even Rs 500 is Okay. Avoid excessive calories & fat for a peaceful healthy life. Likewise, avoid debt. Understand the importance of compounding in life. Have a long-term mind set. Be consistent in whatever you do. Let it be gyming, Saving or investing. Only then you will achieve your desired results. Everything in life would take time. You have to believe in the process. Six packs do not appear in a month and neither does wealth. Continue the process and it would happen for sure. Have a plan in place and measure the progress at regular intervals. So you will understand where you are and what needs to be done to reach the destination on time. Understand the significance of diversification. You don't eat the same ...

Very soon Google & Facebook's artificial intelligence-equipped robots will throw ads that will show you can save taxes up to Rs 46,500 on investment of 1.50 lacs under 80C. The second amount of the first sentence is enough for middle-class families to forget about tax saving forever. So for those not convinced about tax saving, let Droplet tell you a few important things about Tax Savings -  1. It helps you achieve a better rate of return irrespective of the instrument. (Ask us how you will be surprised to know the answer) 2. It inculcates the habit of savings.  3. It helps in retirement planning. (Oh! Seriously)  Ok, what we intend to inform our readers is -  1. Are they really eligible for Rs 46,500 savings on Tax 2. How much should they optimally invest to save Taxes under 80C.  Droplets has taken the example of 3 Salary profiles here and explained how much each of them can claim under 80C and what would be there Tax savings -  ...