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Deepa and Anand were happy, and had a spring in their steps. Today it was their daughter Asha's first day at school. 3 Years ago Anand's company had given him a one-time Diwali Bonus of 2 Lakhs. They had been expecting their child around this time. Heeding his financial advisor friend's advice, he had invested 1.5 Lakhs out of this amount in IDFC Tax Advantage ELSS Fund (a Tax-Saving ELSS Mutual Fund), on the 1st of November 2011.
In March 2015, when he had to pay the Donation and Admissions Fees at the posh upmarket school to get their daughter Asha admitted, they turned to redeem this ELSS Fund, and to their happy surprise they saw that its value on 1st March was XXX (a whopping CAGR return of 24.43%). They were able to get this money from the ELSS Mutual Fund within 3 days and were able to make the payment to the school without a sweat! Their daughter Asha's education got a great start..
Shruti and her husband Siddhant bought a property in joint name at a prestigious project in a posh and upscale locality in Bangalore in 2003 at a cost of about 50 Lakhs and they took a 20 year loan of Rs 40 Lakhs. Being a double-income expanding nuclear family with 2 kids, they had decided to go for a 3BHK villa. They had planned to close their loan within 10 years.
Being smart, they sought guidance from a well-qualified certified financial planner. Having done their cash-flow analysis and projection for the foreseeable future growth of their income and expenses, the financial planner came up with a SMART strategy to Save Tax while building a corpus big enough to knock off the loan amount in the coming 10 years. This suited well with Shruti and Siddhant and they got started on their investments as per the plan laid out by their planner.
In June 2004 they started a combined monthly SIP of Rs. 25,000/- in 5 of the Top Performing ELSS Mutual Funds. Both of them being in the 30% bracket, this strategy not only helped them save (Rs. 46,805*2people*10years=) 9,36,100/- in Income Tax Savings, but also helped them build a fortune.
By June 2014, they had been able to accumulate X amount which was large enough to knock off their outstanding loan as well as pay for the renovation and refurbishing of their now 10-year old house.
Rajesh was thrilled to be moving into his own flat at the prestigious Brigade Metropolis Apartment. He had booked the flat in the pre-launch stage at a bargain price, and had got a great deal. The house was built in about 2 years’ time, and after getting the wood-work and interiors done, it was time to move in. 1 year later is when the Maintenance Charges kicked in. That was when Rajesh started to feel the pinch of paying the high expenses of maintenance. It was almost as if he was living in a rented house after paying a pretty high EMI.
Rajesh lost peace of mind, and was always constrained for cash, and had to think twice whenever his family asked to go out for a dinner or an evening together at the nearby mall. Out of sheer frustration and the need to vent out his fears, he spoke to a friend who recommended a financial advisor and promptly put him in touch with him. The advisor and Rajesh met over a cup of coffee and after doing a thorough review of Rajesh’s cash-flow and personal balance sheet, the advisor realized that Rajesh was doing several simple mistakes, the biggest of which was that he was not completely covered under Section 80C.
This has helped Rajesh build both a corpus, as well as set up a self-sustaining mechanism to pay his monthly maintenance dues. All this while saving income tax to the tune of Rs.46,350/- every year!
Flt Lt. Suresh & his wife Roopa had decided to make Bangalore their home after Suresh's Short Service Commission in the Air Force ended. In their 9 years of service they had been posted to different parts of India, and had become accustomed to a life of orderliness and serenity.
Roopa was the Money Manager of the family, and she had done some research and identified that they could invest and grow their wealth by investing in Tax Saver ELSS Funds, and at the same time Save Tax under Section 80C. They started a monthly SIP for Rs.12,500/- in the Best Performing ELSS Mutual Funds in the year 2002. Soon after his commission ended in 2009, Suresh found a job in a Management Role in one of the flourishing MNCs in Bangalore.
He started the 2nd innings of his career with great zeal, but was soon frustrated with the daily chaos he had to deal with during his office commute and day to day activities in the city.
Roopa was the Money Manager of the family, and she had done some research and identified that they could invest and grow their wealth by investing in Tax Saver ELSS Funds, and at the same time Save Tax under Section 80C.
They started a monthly SIP for Rs.12,500/- in the Best Performing ELSS Mutual Funds in the year 2002. Soon after his commission ended in 2009, Suresh found a job in a Management Role in one of the flourishing MNCs in Bangalore. He started the 2nd innings of his career with great zeal, but was soon frustrated with the daily chaos he had to deal with during his office commute and day to day activities in the city.
This was when they decided to buy a site near Anekal and build a Holiday home over there so that they could spend their weekends in peace. In 2012, they started to shore up their finances for this. This is when their ELSS SIP Investments came in handy.
Their combined monthly investments of X over 10 years had now grown to almost Y. With this money, they were able to purchase the site and construct their dream home.
Deepa and Anand were happy, and had a spring in their steps. Today it was their daughter Asha's first day at school. 3 Years ago Anand's company had given him a one-time Diwali Bonus of 2 Lakhs. They had been expecting their child around this time.
He also knew that keeping money in an FD would give him returns only just sufficient to match the inflation levels and that it would never ever help him create substantial wealth. Being in a private job, he realized that he could not think about getting pension unlike his parents who had a pensionable job. Having understood the concept of inflation and time value of money, he decided to start saving and investing early on in his life. The first thing he did was to put down his expenses on paper and extrapolate its value in the next 25-30 years by when he planned to retire by adjusting it for inflation.
Heeding his financial advisor friend's advice, he had invested 1.5 Lakhs out of this amount in IDFC Tax Advantage ELSS Fund (a Tax-Saving ELSS Mutual Fund), on the 1st of November 2011. In March 2015, when he had to pay the Donation and Admissions Fees at the posh upmarket school to get their daughter Asha admitted, they turned to redeem this ELSS Fund, and to their happy surprise they saw that its value on 1st March was XXX (a whopping CAGR return of 24.43%).
They were able to get this money from the ELSS Mutual Fund within 3 days and were able to make the payment to the school without a sweat! Their daughter Asha's education got a great start..
Vijay stood in a queue overnight to get his twin children admitted in a posh International school. While he felt miserable about having to spend the night on the road waiting for the school to open and give out the admission forms, he was determined to ensure that his children would always get world-class education. He knew that he had to shell out anywhere between 3-4 Lakhs every year for their school fees alone, and that the fees would continue to grow at an inflation rate higher than the headline inflation of the country.
A smile broke around the corner of his lips as he stood in the queue thinking about the fees that he had to pay to the school every year for the next 15 years (Pre-Nursery, Kindergarten, 1st- 10th Standard, followed by 2 years of Pre-University education). He had thought about it all and planned for it right from the beginning when he and his wife Vidya learnt for the first time that they were going to be parents to twin children. After the visit to their gynaecologist, and the customary calls to their family, they had immediately called up their college friend who had taken up Financial Planning and Advisory Services as his profession.
They explained to him about expecting twin children, and their desire to plan for their education right from the beginning. The advisor congratulated them and spoke to them in detail for about 2-3 hours explaining about various aspects of financial management, planning, and execution. He explained to them about the importance of fund selection, about various investment avenues, their growth histories, and also explained to them about ELSS Mutual Funds as a matter of course where he explained to them about the multiple benefits of saving tax while growing the value of their investments.
He spoke to them about SIPs, and managing cash flows. Vidya & Vijay were hooked on since it resonated with their need to secure their children’s future while at the same time saving Rs.92,700/- (46,350/- each) in tax savings each year (both of them were working and earning good salaries, and hence were in the 30% tax-bracket). Without wasting any more time, they immediately decided to start investing in the Top-Performing ELSS Funds that their advisor recommended. In 3 years’ time, they had managed to invest 9 Lakhs (12,500/- per month * 2 people * 12 months * 3 years), and it had grown at a compounded rate of 15%.
. They were determined to continue to invest in these ELSS Funds as long as they were working. They knew that they could easily withdraw anywhere between 3-4 Lakhs every year to pay the fees, from this ELSS investment corpus. This gave them a lot of peace of mind, and helped them cope with the finance related challenges that raising twins brought with it.
Vikas completed his graduation in 2006, and due to financial constraints had to put his dream of higher education on hold. He joined a prestigious IT Services company and started earning a good salary. But at the back of his mind, he always wanted to go abroad for his higher studies, and over the next 5 years he aspired to take up MBA in any of the prestigious Universities in the US.
While talking to his friend’s friend who was also a financial advisor, he mentioned to him that he was planning to do his MBA in US, and that it would cost him a lot of money. Upon prodding by the advisor, Vikas thought more about it, did some research and realized that he would need X amount. The advisor informed him that he could help him and advised him to start routing his Tax Saving investments under Section 80C towards ELSS Mutual Funds, and to invest in a systematic manner. Soon Vikas started a SIP for Rs.12,500/- in an ELSS Fund Y. He watched with glee as his investments started growing in value over time.
Soon he had a sizeable amount of money which he could rely on to realize his MBA aspiration. However, he decided to give it some more time, and in 2015 he finally took the jump, took up his GMAT, TOEFL, got good scores in these, and after shortlisting a few universities, he started applying to them. His application was accepted by 3 universities, and he was set to fly. He withdrew some money Z from his ELSS investments which was sufficient for his first semester study.
Even while he continued his studies, the rest of his investments kept growing. And every time he needed money, he was able to make partial withdrawals from his investments. Using a wel- planned strategy executed with meticulously and executed with thorough due diligence, Vikas was able to realize his MBA ambitions with no financial hardship.
Lakshmi was a single mother who lost her husband when her son was just 7 years old. Being a single mother, and a working woman from a lower middle class family, she faced several odds and overcame them to live a dignified life.
All her energies and resources were focused on raising her son Ganesh who was hard-working and good at his studies as well. She took up her studies in an evening college, while working a day job, and soon with determination ended up joining a college as a lecturer. When he was 16 years old, Ganesh who usually never asked his mother for anything, asked his mother to buy him a bike. She explained to him that he was still young and promised to buy him a bike when he would complete his studies (graduation). That same year UGC scale salary was implemented at the college where she worked, and she decided to start investing the additional money that she now got towards the goal of buying a bike for her son.
Since her salary now came under the taxable salary bracket, she did thorough research about investment and tax saving options, and decided to invest a lumpsum amount of 40,000/- distributed equally amongst the best performing Tax Saving ELSS Mutual Funds. In the next 5 years she watched these investments grow steadily over time at an average rate of ~20% and its value in 5 years became worth ~1Lakh, and when Ganesh turned 21 years, she bought him a bike as promised.
Ganesh was thrilled and grateful to his mother for everything that she had done for him, and presenting him with such a wonderful gift for his 21st birthday. He made up his mind, and promised to himself that he would always strive to take care of his mother and make her proud of his achievements in life.
when he started working they would have all the comfort, amenities and luxuries of life. In order to secure their health, and take care of any medical emergencies he wanted to build a Health Fund of Rs. 10 Lakhs which he could use whenever required. At the same time, he was looking for an option to save tax.
His research led him to increased knowledge about various investment options, and different facilities & relief to the tax payer provided under Section 80C by the Government of India.
He researched further based on the liquidity requirement (he did not want his money to be locked up for long duration), ease of access (the invested money should come to him anytime he needed), and the returns should be tax-free. His research led him to better understanding of the ELSS Tax Saver Mutual Funds.
He immediately started investing in the best performing ELSS funds of the day with consistent performance record, via a SIP of Rs.1,000/- each spread across 4 different funds (4000 monthly SIP). The diversification strategy helped in ensuring that the fund performance would average out over longer duration. He got an average compounded return of around 14%, and his 4.8 Lakh investment over 10 years grew to 10.58 Lakhs.
This gave him a lot of peace of mind since he knew he could tackle any medical emergency using this Health Fund.
Apoorva had lofty goals in his life. Being an IIT graduate, he landed a plush job with a great salary in a well funded startup. Right from his college days, he developed a keen interest in social causes, and was always a part of any social impact activities.
He continued participating and propagating NGO activities even when he started working, and wanted to be able to do more and more for improving lives of people in the society. Right from his first salary, he used to set aside 5% of his income towards charity.
However, he saw that these small sums weren't sufficient to make a big enough impact. He vowed to increase his allocation towards charity, and started diverting part of his income towards Tax Saving ELSS Mutual Funds.
The idea was to Save Tax with which he could continue his existing charity activities, while growing the corpus through ELSS Funds which could help him create a fund which would give perpetual returns in order to continue and expand his charitable activities.
With the returns from his ELSS investment corpus he was able to support and sponsor education for 2 girl children from impoverished strata of the society./p>
Rakesh is an avid reader and a keen traveller. He loves backpacking, adventure tourism, archeological tours, and visiting new and exotic places spread far and wide, all over the world. Recently he went to Machu-Pichu on a 10-day tour.. The amazing thing is that he doesn’t have to ever worry about his expenses and making financial arrangement for his travel zeal! How did this happen?
It wasn’t always like this, although he always had a travel goal, he didn’t know how to realize this goal. That was until he met with his financial advisor seeking advice about tax saving options. While they were discussing about the available options, Rakesh happened to mention about his travel goal. His Advisor thought for a moment and crafted a strategy to make his travel dreams come true while saving his taxes through investments in tax saving ELSS mutual funds.
He advised him to start a monthly SIP of 12,500/- in X ELSS mutual fund, and that this money would become available to him as a regular stream after 3 years. At the same time that he started the SIP, he drew up a strategy to withdraw money from his investments every alternate year from the 4th year onwards which would be sufficient enough to take care of his travel needs.
Consequently Rakesh is now all set to keep traveling around the world to the destination of his choice once every two years. By the time he retires he would have covered the entire world, and make his dream of visiting 100+ countries a reality.
Ramesh comes from a family of Bankers. Being immersed in the discussions pertaining to financial world right from his childhood and brought up in an environment of prudence and discipline, he was quite sensitive to the economic realities of life. This trait became apparent when he took up his first job in an MNC in 2000.
He understood right from the beginning the concept of Inflation, Time Value of Money, and the magic of Compounding Power of Money. He understood that what 100/- Rs. could buy today would cost 108/- Rs. the next year due to the effect of inflation. He also knew that keeping money in an FD would give him returns only just sufficient to match the inflation levels and that it would never ever help him create substantial wealth.
Being in a private job, he realized that he could not think about getting pension unlike his parents who had a pensionable job. Having understood the concept of inflation and time value of money, he decided to start saving and investing early on in his life. The first thing he did was to put down his expenses on paper and extrapolate its value in the next 25-30 years by when he planned to retire by adjusting it for inflation.
He did a lot of research and found out that India’s inflation for the past 34 years had been 8.08%. It was safe to assume that this inflation would persist in his lifetime considering that India is a growing economy and for its growth to plateau, it would take another 40+ years. Then he found that his annual expense by the time he would retire would be around 24 Lakhs. In order to get this 24 Lakhs he would have to have 3+ Crores worth of liquid assets which could be invested in a safe avenue which would fetch him 8% returns.
His next task was to find out which investment would fetch him inflation beating returns and grow to become 3+ Crores in the next 25 years. That was when he spoke to his friend who was also into the Financial Advisory space and who was dealing with wealthy clients. His friend explained to him about the ELSS Mutual Funds and asked him to invest 12,500/- every month via a SIP into the top performing ELSS Mutual Funds for the next 20-25 years.
He even showed him how at a growth rate of 12-15%, his monthly investment of 12,500/- would grow into 2.25 – 3.67 Crores worth of value. Ramesh latched on to this idea, and immediately started investing in the Top Performing ELSS Mutual Funds suggested by his Financial Advisor friend. Not only has he been able to save an annual tax outgo of Rs.46,350/-, but he has also been able to grow his wealth significantly, and is prepared to live a wealthy post-retirement life.
Sachin joined HP in 1998 when they were setting up a brand new team for their India Development Center, and this was a great start for his career. However he always knew that he wanted to start his own company catering to Software Development Services and Developing Products that he had in mind.
Being an aspiring entrepreneur with little access to capital and the software industry still being in its nascent stages he knew that he had an uphill task and would need lot of money to secure his future family needs as well and infuse capital into his company.
Being hungry for success he rapidly gained a solid reputation in his company and scaled up quickly and got promoted through the ranks resulting in increased salaries, and as a result, increased tax outgo as well. He was unhappy that he was paying such a heavy tax which he could otherwise have channeled towards his dream of setting up his own company.
He decided to take this problem head-on, and after doing some thorough research, he started investing in ELSS Mutual Funds as a way to save tax, and at the same time growing his wealth and building a corpus towards his goal of starting his own company. He used to invest his annual bonus of 1.5 Lakhs each year into the Top 4, Best Performing ELSS Funds during that year.
This was a good strategy which worked out well for him. He was able to save taxes to the tune of Rs. 46,350/- every year, and at the same time his investment amount kept growing in excess of 15%.
As a result, in 10 years' time he had accumulated more than 35 Lakhs in his tax saving ELSS investments alone. He was now able to take the plunge into his entreprenuerial journey.
Deepak wanted to be rich! He always dreamt of becoming a Crorepati by the age of 35! Soon after he started working at the age of 22, he started investing a major portion of his income towards this one single goal. Being the only son to his parents who were Government employees, he did not have to worry about any obligations (his parents got their salaries and they all lived in their own house in Ranchi).
However, Deepak's only expense was rent, food expenses and 6-monthly travel expense from Bangalore to Ranchi and back. He used to invest every single rupee left with him other than these expenses. He could easily save about 18,000/- per month which he promptly invested in mutual funds via the SIP route. As a means to save tax, he routed 12,500/- per month SIP into good Tax Saver ELSS Mutual Funds.
In 13 years' time, by the time he was 35 years old, this investment corpus of 19.5 Lakhs had grown to 87.29 Lakhs at a CAGR of 20%. Deepak is expected to reach his goal of becoming a Crorepati in the next 6 months just through his investments in his Tax Saving ELSS Mutual Funds due to the systematic investments and discipline that he followed..
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