Demise of a dear friend called ELSS.

Recently govt. brutally killed ELSS by removing it from tax saving instruments. With the implementation of DTC it will no longer would be available to me and many like me for saving our taxes. For many years I was using ELSS only as my tax-saving instruments so with this announcement of DTC, I am shattered and so are some of my friends. Now we have to be reluctantly use the blood-sucking ULIPs or PPF and none of them seems attractive to me.

ULIP Crisis: More time to dupe gullible custoemer, Hurrey...!

Govt. has come out and said that the SEBI and IRDA have agreed to maintain the status quo on the issue of regulation of ULIPs. Why should court decide as to who should regulate the ULIPs? It's simple, ULIPs with any equity portion should come under the purview of SEBI as SEBI is mandated to regulate the equity markets. And IRDA should stick to insurance part of it.

First of all it's absurd on the part of both the SEBI and the IRDA to wash their dirty linens in public. One day SEBI bans ULIPs and the very next day IRDA comes and says publicly to SEBI, fuck-off from governing the ULIPs, it's none of your business. And so it's the business as usual for insurance companies to loot the gullible insurance-customers. They are looting public, like there is no tomorrow, all under the blessing of IRDA and citizen friendly-govt.
Why not the two regulators decide who to do what and then come public before making fun of themselves by fighting in public.

It was similar case where regulators were not sure who was to govern a particular area and they led to many scams, like CRB MF scam, in not-so-distant past.
But it's true to Indian character we never seems to learn from our past mistakes.

Money Resolutions for 2010

I strongly believe that each new year one should have money resolutions separately for oneself. Here are my "Money Resolution" for the coming year 2010.

1. Keep track of every investment regularly and count & consolidate every month’s investment. So That you know how much money is invested every month and consequently for the whole year.
2. Every 6 months look how investments are doing, redo them if required.
3. Start Tax Saving investments early in the financial year.
4. Every month invest surplus money somewhere, be it even the Liquid funds. But let your money earn at least something for you.
5. Don’t ever dither on any financial decision. Make it then and there but not without thinking.
6. Keep yourself up-to-date with personal finance knowledge.
7. Be little bold in investing for your long-term money.
8. Maintain proper balance in your portfolio by investing in all kinds of assets.
9. Keep booking profits if profit goes beyond your expectations.