Price of True Love exceeds $100K in 2011 !

Every culture, every place has its own unique traditions, some meaningless, some plain weird. We follow many trivial customs as a part of our culture, not because they are important but because it is part of our past!

Here is another tradition, followed every year soon after the Thanksgiving holidays: the calculations of ‘True Cost of Christmas’, or the cost of True Love, as some call it.

This ‘True Cost of Christmas’ or the price of True Love is calculated based on the current price of the items or commodities mentioned in the carol “The Twelve Days of Christmas.”

To refresh your memory of the carol, it goes like this:

On the first day of Christmas my true love gave to me
a partridge in a pear tree

On the second day of Christmas my true love gave to me
Two turtle doves
and a partridge in a pear tree….. Continue reading “Price of True Love exceeds $100K in 2011 !”

Commonsense tips on investing and investment ideas

Commonsense tips on investing while living home or abroad

“It is a wise man who lives with money in the bank, it is a fool who dies that way.” ~ French Proverb

No matter where you live, the financial planning and investment approach is not much different. By end of the day, the general goal is:

  • Spend less than you earn
  • Save for the rainy days
  • Maximize the return on investment without taking huge risks
  • Save for the future and retirement days
  • Enjoy life – money is a mean to live, not the ultimate goal

This article is based on the personal experiences in investing; no formal education in investing or financial planning here. DO NOT base your investment decisions solely on these tips. This is a simple advice from one investor to another. Your situation and circumstances may vary, so this may not apply to everyone.

These are some of the useful and commonsense tips on investing:

1. Save: Yes, the first principle to maximize your net capital or net portfolio is to save. The saving does not always mean being overly frugal or cutting down on the basic needs like food consumptions (while that may not be a bad idea in many cases). Consider eliminating the unnecessary spending and waste. ‘50 tips on saving’ (below) is good article if you are looking for ideas on how to save.

2. Emergency fund: Before investing, it is always a good idea to have emergency fund that you can draw on, in case of emergency – such as loss of employment. Many suggest that you should have enough money readily available so you and your family can live off it for at least six months. Many other suggest having enough emergency funds for a full one year. Based on personal situation, decide on the size of the emergency fund. This money can sit in the savings accounts or other low risk options like short term certificates of deposits or low risk money market funds etc. Continue reading “Commonsense tips on investing and investment ideas”

Facilities on overseas assets for Indians returning to India

R2I (Return-to-India) facilities on overseas assets for Indians going back to India

Here are some key highlights of the Indian facilities related to overseas assets and financial situations for Indians returning to India:

Retaining assets abroad:

  • Effective 17th July, 1992, the Indian Central Government has granted exemption from the surrender requirement to persons who return to India after a continuous stay abroad of one year and above in respect of funds/assets acquired by them abroad otherwise than in contravention of FERA 1973 or out of foreign exchange earned through employment, business or vocation outside India taken up or commenced while they were resident outside India. Persons satisfying the conditions of general exemption can retain their foreign currency accounts within bank abroad and/or hold, transfer or dispose of their other foreign currency assets such as shares, securities or investments in business, etc. and immovable properties.
  • They are not required to obtain any permission from Reserve Bank for holding these assets.
  • They would enjoy complete freedom for utilization of these assets as well as income earned or sale proceeds received subsequently.
  • They can repatriate these assets to India and hold them separately in India with authorized dealers under the Resident Foreign Currency Accounts Scheme.

Continue reading “Facilities on overseas assets for Indians returning to India”