तुम्ही विचाराल की या सर्फ एक्सेलच्या जाहिरातीतील या कॅचलाईनचा आणि गुंतवणुकीचा काय संबध? तो आहे.. पण कसा आहे चला बघु…
शेअरबाजारातील परतावा मिळवण्यासाठी दिर्घकालीन गुंतवणुक करावी लागते अस आपण कितीही जीव तोडून सांगितल तरी काही लोकांना विशेषत: तरुणांना ते लगेच पटेल असे नाही. त्यांना अर्थातच झटपट रिटर्न्स हवे असतात.
नवीनच नौकरीला लागलेला एक तरुण SIP करण्यासाठी माझ्याकडे आला होता. त्याच्या वङिलांनी तो भविष्यासाठी करणार असलेल्या गुंतवणुकीला आतापासुनच चांगल वळण मिळावे यासाठी त्याला माझ्याकङे पाठवल होत.
तो खुप उत्साही तर दिसतच होता पण त्याच्या वङिलांनी आधीच कल्पना दिल्याप्रमाणे खुप उतावीळही दिसत होता. अर्थात ते त्याच्या वयाला साजेसही होत. त्याच्या याच उतावळीपणाला थोङा आवर घालुन दिर्घकाळासाठी गूंतवणुक करायला लावण्याची सुचना त्याच्या वङिलांनी मला केली होती.
“सर मला अशी एखादी स्किम द्या. ज्यात SIP करुन मी झटपट रिटर्न्स मिळवुन श्रीमंत होवु शकेन.”
आल्या आल्याच ख्रिस गेल प्रमाणे 6 मारत त्याने आपला इरादा स्पष्ट केला.
आता त्याच्या उत्साहाला व उतावळेपणाला अावर घालत SIP च्या दिर्घकालीन प्रवासाला सुरुवात करायला लावायचे कठीण काम मला करायच होत.
मी म्हटलो , “जर गुंतवणुक करुन झटपट श्रीमंत होण्याचा मार्ग मला माहित असता, तर मीच काय कुणीच हे सल्लागाराचे काम केल नसत. असा कुठलाही अधिकृत शाॅर्टकट उपलब्ध नाही.”
“मग निदान थोङ लवकर तरी रिटर्न्स मिळायला हवेत अस बघा.”
“हो…. हे शक्य आहे पण त्यासाठी तुम्ही केलेल्या गूंतवणुकीच मुल्य अर्ध्यापेक्षा कमी व्हायला हव.
आता अाश्चर्यचकीत होण्याची वेळ त्याची होती. इतर विक्रेते झटपट पैसा मिळेल अस सांगुन आर्थिक प्राॅङक्टची विक्री करत असताना तुमच्या गुंतवणुकीच मुल्य अर्ध व्हायला हव अस सांगणारा सल्लागार बघायला मिळण्याची अपेक्षा त्याने खचितच केली नसणार.
त्याला जास्त गोंधळात न टाकता मी पुढे अजुन स्पष्ट करुन सांगितल कि “समजा तुम्हाला एका उद्दीष्टासाठी १० वर्षाची SIP करायची आहे तर किमान शेअरबाजार हा सुरुवातीचे ४-५ वर्षतरी तळाला जायला हवा. त्यामुळे जरी तुम्ही गुंतवणुक केलेल्या रकमेच मुल्य अर्ध झाल तरी NAV कमी झाल्यामुळे तुमच्याकङे जास्तीत जास्त युनिट्स जमा होतील. त्यानंतर शेअरबाजार वर गेल्यावर तुम्हाला खुप चांगले रिटर्न्स मिळू शकतील, शिवाय पङत्या बाजारात जेवढी जास्तीची गुंतवणुक कराल तेवढा जास्त फायदा होवुन तुमचे उद्दीष्ट लवकर पुर्ण होवु शकेल. ”
चागंल काम करताना जर कपङ्यावर ङाग पङले असतील तर दाग अच्छे है असच ही जाहीरात सुचवत होती त्याच प्रमाणे SIP मध्ये चांगला परतावा मिळण्यासाठी गूंतवणुकीच मुल्य अर्धे होण ही पण एक चागंली गोष्ट मानली जाते म्हणुन तर सुरुवातीला म्हटले..
क्यों की दाग अच्छे है!
आपली प्रतिक्रिया कळवा.
Got this beautiful poem from one of my readers.
When you are in flow, I never feel slow…
During market volatility, you assure us profitability…
Insurance protection you offer with care, that combination is very rare…
Exercise makes me healthy & discipline with you makes me wealthy..
In case of emergency need, you are like a true friend indeed….
In fear when I thought you to monitor, you always said to go to advisor…
Every passing year you grow more, I promise will never leave you for sure…
Dear SIP, when you are in flow, I never feel slow…
अनेक लोक मला विचारतात कि म्युच्युअल फंडमध्ये SIP गुंतवणूक किती केली पाहिजे, कधी वाढवली पाहिजे, कधी कमी किंवा बंद केली पाहिजे ?
पहिले लोक कसे SIP करतात हे समजून घेऊ?
बहुतेकदा लोक म्युच्युअल फंड मध्ये SIP गुंतवणूक सुरुवात करताना एक लहान SIP नि सुरुवात करतात हळू हळू एक 5 वर्षात थोडी थोडी SIP वाढवतात. ज्यांना 10 वर्षांपेक्षा अधिक गुंतवणुकीचा अनुभव आहे त्यांचा विश्वास पक्का झालेला असतो आणि आज ते फार अधिक प्रमाणात किंवा आक्रमक SIP करतात.
पण यात काही चूक आहे का ?
हो आहे, एक खुप मोठा प्रॉब्लेम आहे तो म्हणजे चक्रवाढ व्याज (Compound Interest)
खालील उदाहरण पहा !
समजा किरण याने 1000 रुपयाची SIP सुरु केली व ती पुढच्या 30 वर्षांसाठी चालू ठेवली.
तर 15% परताव्याप्रमाणे त्याची रक्कम 30 वर्षाच्या शेवटी 56,00,000 ( ५६ लाख) इतकी होईल. (गुंतवणूक – 3,60,000)
आता समीर चे उदाहरण पाहू !
समजा समीर याने 2000 रुपयाची SIP सुरु केली व ती पुढच्या फक्त 10 वर्षांसाठी चालू ठेवली, 10 वर्षानंतर ती जमलेली गुंतवणूक रक्कम पुढची 20 वर्ष फक्त तशीच वाढू दिली.
तर 15% परताव्याप्रमाणे त्याची रक्कम 30 वर्षाच्या शेवटी 86,00,000 ( ८६ लाख) इतकी होईल. (गुंतवणूक – 2,40,000)
किरण ने समीर पेक्षा 20 वर्ष जास्त गुंतवणूक केली, 1,20,000 रुपये जास्त गुंतवणूक केले तरी सुद्धा समीरचा परतावा किरण पेक्षा 30,00,000 रुपयांनी जास्त आहे.
असे का झाले?
भाई ये सब जादू “चक्रवाढ व्याज” (Compond Interest) का हे !
चक्रवाढ व्याज म्हणजे व्याजावर व्याज, जेव्हा आपण SIP करतो तेव्हा पहिल्या 10 वर्षात केलेली गुंतवणूक सर्वात जास्त चक्रवाढ व्याज कमावते आणि बाकीची 20 वर्षातील SIP हि फार कमी चक्रवाढ व्याज कमावते त्यामुळे हा रिसल्ट येतो.
मग आपण काय केले पाहिजे ?
फक्त SIP केली, खूप वर्षासाठी केली म्हणून आपला रिटर्न वाढणार नाहि तर सुरुवातीच्या काळात आपण किती SIP करतो यावर आपण लक्ष दिले पाहिजे!
जर तुमच्याकडे निवृत्त होण्यासाठी 30 वर्षे शिल्लक आहेत तर लक्षात ठेवा, त्यातील पहिली 10 वर्षे इन्वेस्टमेंटच्या दृष्टीने सर्वात महत्वाची आहेत.
अर्थात खेचून ताणून SIP नक्कीच करू नका पण जमत असेल तर नक्कीच विचार करा!
प्रतिक्रिया नक्की कळवा !
प्लॅनिंग करा आणि निर्धास्त व्हा !
A man had to go on a long journey.
Before embarking on his journey, the man walked up to God and sought his blessings.
God offered him a choice.
“Take along with you 5 litres of water or 10 litres of ice”.
Greed nudged the man to choose the latter(10 litres of ice).
The journey commenced. The weather was cold. The man walked on and on with an air of contentment and joy that emerged from his choice; the 10 litres of ice that he had chosen.
Soon he grew thirsty. He looked at the ice block. It was rock solid.
He walked on with the conviction that the weather would soon them warmer and the ice block would start melting and he would be able to quench this thirst.
But the weather wouldn’t relent and the ice wouldn’t melt.
His thirst by now grew by gigantic proportions and he felt miserable and grew desperate.
His 10 litres of ice which had once made him feel comfortable was now seeming like a hard rock of solid weight ; a white elephant which instead of providing comfort was causing him severe stress.
How now wished he had chosen the 5 litres of water instead.
Realisation soon dawned upon him that although ice and water both had the same chemical formula they were not same.
What mattered most was the state of their matter ( liquid vs solid)
This story is the story of scores of people who have amassed huge amount of real estate and who believe they are wealthy.
But the fact is quite the contrary. Their wealth is just a mirage ; a state of mind and a false belief. Their wealth is like the ice that wouldn’t melt.
Unless and until you can liquidate the asset by converting its form into liquid cash what our the purpose of that wealth which you believe belongs to you?
If your asset cannot meet your immediate need of security, education, health, holiday, etc etc then what is its purpose?
Real estate is largely like this. It is illiquid.
Try selling your house in an emergency and you will realise how difficult it is to find a willing buyer.
By the time you can sell your house more often than not it is a little too late and your need would by then have transformed into a lost opportunity.
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What are the different varieties of food in a thali?
We all would have tasted at least once any thali’s.
As thali has different food like pickle, papad & rice, your portfolio should also have different assets.
All food proportions are different. Rice is more, cucumber & pickle is less, similarly, risky assets should be less & quantity should be checked.
Our diet changes depending on the age & ability to eat. Similarly, our investment portfolio should also change with age & needs.
Recently, one of my friends died due to accident. Hemant was just 33 and was heading family owned business in Mumbai. He is survived by his home maker wife Rohini aged 30 and 1 kid aged 7.
He used to contribute 1 Lakh per month for the family. His monthly cash flow was as follows.
EMI for the Business Loan – 30,000
House hold expenses – 28,000
Parents’ Support – 20,000
Life Insurance premium – 5000
Mutual Funds Investments – 17,000
He was staying in own house which was a ancestral property and were leading a quality life. Kid is studying in good school.
He was paying an insurance premium of 5000 per month for a life insurance policy of 12 Lakhs. The insurance company settled the claim of 12 Lakhs.
Rohini has deposited this amount of 12 Lakhs in a bank. She is getting around 6,000 per month as interest on it. Now the family is living on this. But she finds it difficult to manage the schooling of the kid with this income. She is planning to shift the kid to another school from next academic year.
If they want to maintain the same standard of living, there should be an inflow of 28,000 per month. Instead of 12 Lakhs, if there were 44 Lakhs in bank, she will be getting 28,000 as monthly interest.
In simple words, Hemant should have insured his life for 44 Lakhs.
Is it sufficient? In the above calculation, I have not considered the effect of inflation, possibility of reduction in interest rates etc. Assuming these 2 factors into consideration, the amount required to ensure an inflation adjusted withdrawal of 28,000 per month for the next 50 years (till she is 80) is around 1.3 Crore. Here I have assumed that the amount of 1.3 Crore will generate a return of 1% above the inflation.
So, this is the amount Hemant would have looked at instead of 44 Lakhs. He was planning to provide for 10 Lakhs in today’s cost for the higher education of his kid when she reaches age 17. For that he was investing in mutual funds. If you consider this goal also into account Hemant would have insured his life for 1.5 Crores.
Had he insured his life for 1.5 Crore, now his family will be getting 1.5 Crore as death claim. Rohini can invest 20 Lakhs for the children higher education needs and use the balance 1.3 Crore to ensure same standard of living till she is 80.
Now, let us check the premium for a 1.5 Crore policy. He was paying a premium of 5000 for a 12 Lakhs policy. Going by that rate, the premium for a 1.5 Crore policy will be around 62500 per month, which is not affordable to him.
Is there any alternate to insure life at a lesser premium? Yes. He could have opted for a term insurance policy.
What is Term Insurance?
In this policy, there are no maturity benefits. In simple words, you will not get anything at the end of the policy. But if you die during the term of the policy, your nominee will get the policy amount immediately.
If you are 35, the annual premium for a 1.5 Crore policy will be around 18,000. If you pay this premium every year from 35 to age 60, your family is sure about the payment of 1.5 Crore in case of your death. But if you live upto age 60, nothing is payable from this policy. You will be losing the premium of 4.5 Lakhs paid during these 25 years.
This is the only way to ensure adequate life insurance for a person. The amount of 18,000 per year (1500 per month) is to be considered as the price you are paying for the peace of mind you are getting in ensuring a decent living for your spouse and kids in your absence. After all, this 1500 per month is just the cost of a weekly outing.
Precautions while purchasing term policy
Insurance is based on the concept of ‘Utmost Good faith’. You are supposed to disclose your health/habits etc correctly while applying for an insurance policy. For example, if you are diabetic, or having hypertension don’t forget to mention these in the proposal form. Similarly if you are a smoker or consume alcohol, mention these in the proposal. The insurance company may charge a higher premium depending on your health/habits. It is called loading. This prompt disclosure is important to avoid confusion later. If you are hiding these details at the proposal stage, there is a possibility of claim rejection in future. Be 100% honest while purchasing the policy.
Claim Settlement Ratio
This is the ratio of clams settled out of claims reported. The higher the ratio, the better it is.
Some companies are claiming that their claim settlement ratio is highest in the industry. Suppose the claim settlement ratio of company A is 98% and for company B it is 90%. As a heart patient, if you purchase a policy from company A without mentioning this issue and die after 2 years the claim will be rejected. So, you will be within that 2% rejection of company A.
But if you are purchasing the policy from company B with prompt disclosure, your claim will be settled. This is because you will fall under the 90% of company B.
More than claim settlement ratio, prompt disclosure from your side is more important in insurance. You may purchase the policy from the company of your choice with prompt disclosure.
If the claim is rejected, there are many options for the claimants to represent the case. They can approach the grievance cell of the insurance company, insurance ombudsman or consumer forum with appeal. Normally all genuine claims will be settled.
Ensure Prompt Nomination
While purchasing the policy, ensure that you are nominating your legal heir as the nominee. If you are purchasing the policy before marriage and nominate parents as nominee, it is better to change the nomination in favour of your spouse after marriage. Remember, you can change nomination anytime and the nominee has a role to play only in case of your death.
Inform the nominee the following
I have purchased a policy for Rs. X from company ABC and as a nominee you are eligible to get Rs. X after my death.
The policy number, premium amount and the due dates of premium.
Where you are keeping the policy document
The contact details of company ABC to be contacted in case of your death.
Why term policies are not popular in India?
We feel that we are losing the premium in term policy because there is no maturity benefit. But see the large benefit in case of death of the bread winner! This is the only way to ensure a decent life insurance cover for a person at an affordable premium. If you really love your family, purchase a term policy of decent value when you are alive and healthy.
The main reasons for the low popularity of term policies are
1) Agents are not interested in selling this policy because of the low premium and the small commission involved.
2) Low awareness about the real benefit of term policy.
3) Feeling that you are not getting anything on maturity and losing the premium paid.
4) Emotional issues like wife saying – I don’t want any amount because of the death of my husband.
5) If every wife knows what a widow feels, no husband will remain uninsured.
It is high time that you should purchase a term policy and ensure all earning members in the extended family and friends circle are insured for a decent amount. Infact government can think of making it mandatory as a social security measure so that no family will suffer in case of death of the breadwinner.
The aversion to term policies by Indians motivated life insurance companies to innovate and come out with policies with maturity benefits along with death benefit.
Let’s understand this with an example:
If you are aged 35 and purchasing a 20 year endowment policy of 10 Lakhs, the annual premium will be around 50,000 per year. You have to pay 50,000 for the next 20 years and you will be getting the following at age 55.
Sum assured – 10 Lakhs
Bonus – 8.4 Lakhs
Total – 18.4 Lakhs
Bonus is declared by the insurance company every year based on its profitability and claim experience. In the above calculation, I have assumed a bonus rate of Rs. 42 per thousand sum assured. Since it is a 10 Lakhs policy, the bonus for a year will be 42,000. If you are getting the same bonus for the next 20 years, you will get 42,000 x 20 = 8,40,000 as bonus.
Let’s calculate the rate of return on this policy. It is around 5.5%. This is a pathetic return for a long term investment.
Please note that the bonus is not guaranteed and it can change every year. Since the interest rates are coming down in India, there is all possibility of a reduction in bonus rates in the near future.
Now, let us understand the benefits from this policy in case of your death. Your nominee will get the sum assured of 10 Lakhs and bonus accrued till date of death. Suppose the death happens at age 40, your nominee will get the following
Sum assured – 10 Lakhs
Bonus for 5 years – 2.10 Lakhs (42,000 x 5 = 2.10 Lakhs)
Total – 12.10 Lakhs
Will this 12 Lakhs is sufficient for the family in your absence? No.
This policy is not good as investments due to poor returns and not good for risk cover due to the low insurance cover it offers.
Who benefit from this policy?
When you are paying 50,000 as the first year, premium, your agent is getting around 25-30% of it. 12,500-15,000/- is going to his pocket. From second year, the commission is around 5%. The agent is getting 2500/- every year as long as you pay the premium. In the 20 year policy, the agent is getting 65,000/- in total!
This is the reason why agents and banks are trying to sell insurance policies.
What you can do?
Instead of paying 50,000 premiums under such policy, you can purchase a 1.5 Crore term policy by paying 18,000 per year. The balance amount of 32,000 can be invested in a mix of equity & debt as per your risk taking capacity. If you are investing 32,000 per year in an equity mutual fund, you can expect around 23 Lakhs assuming 12% returns. Please note that many good mutual funds have given 20% returns in the past 20 years.
In case of unfortunate death, your family will get 1.5 Crore immediately. This amount can really help your family in maintaining the standard of living in your absence.
This combination of term policy & mutual fund is beneficial both in case of death and maturity.
To make it attractive, insurance companies are offering many types under this category. The most popular ones are the following:
In this policy, the sum assured and the bonus is payable at the end of the policy term. In a 20 year policy, you will get this at the end of 20 years as explained above.
Money back policy
In this policy, you will be getting certain percentage of the sum assured at different intervals. A typical 20 year money back policy will give you 20% after 5 years, 20% after 10 years, 20% after 15 years and 40% along with bonus at the end of 20 years. In case of death in between, the nominee will get the full sum assured irrespective of the payments made already. The premium under money back policy is high compared to endowment policy.
This is sold in bulk on emotional appeal. The benefits under this policy are paid in instalments during the higher education of the child. In some cases, there is an option to waive the premium in case of unfortunate death of the parent proposer.
In this policy, the benefits are paid out as pension during your retired life.
Unit Linked Policies (ULIP)
In this policy, the insurance company is investing your premium in a mix of equity & debt instruments as per your mandate. ULIP policy can give better returns compared to other types of policies discussed above.
But there are many charges which are deducted from your policy, which will reduce your effective return.
The main draw backs of savings linked policies are:
Lack of flexibility
Once you join for a 20 year policy and later, if you are not happy with the policy, exit options are limited. If you stop paying the premium in the first 3 years, you will not get anything back under most of the traditional policies. If you surrender the policy after paying premium for 3 years, then you will get only 30% of the premiums paid. After paying 50,000 for 3 years (1.5 Lakhs), you can exit the policy with just 45,000 as surrender value.
In ULIPs, you will not lose the premium paid, if you stop paying the premium within 3 years. The fund value will be moved to discontinuance fund and it will be payable to you on completion of 5 years from the start of the policy. During this period, you will get around 4% returns on the fund value.
If you want to surrender the policy after 5 years, you will get the fund value immediately.
If your fund is not performing the only option for you is to surrender and take the money out.
In both these cases, you can understand that there is no flexibility. But if you opt for a combination of term policy & mutual funds, you have 100% control on your money. If a new insurance company is offering a term policy with lesser premium, you can opt for that and just drop the existing policy (subject to your good health at that time). If your mutual fund is not performing, you can just sell it and reinvest in better funds without any difficulty.
In traditional policies, the returns will be in the range of 4-5% only. This is because the investment is happening mainly in debt products and a good amount is going towards commission and other expenses of the insurance company.
In ULIPs, there are many charges. When you pay Rs. 100/-, full amount is not invested in your account. The company deduct premium allocation charges from your premium and only the balance is invested. If the allocation charge is 10% only Rs. 90/- is invested in your account. There are other charges like policy administration charge, fund management charge and mortality charge etc. These charges are deducted by way of cancellation of units from your account. You will not understand it unless you verify the fund value statement carefully.
If you just check the percentage return on your Net Asset Value, it will not reflect the reduction in number of units due to various charges. Even if the fund is performing well, your actual return will be much less due to the cancellation of units.
The only policy you require from a life insurance company is a basic term policy. Buy it online to get the advantage of lower premium. All other policies are not beneficial to you. It will help only the insurance company and the agent.
Don’t be a blind follower of your fund despite signs of trouble.
Staying invested in mutual funds over the long term is not enough.
REVIEW your portfolio PERIODICALLY to ensure you are investing in the right instruments.