Do you feel taxes are eating into your wallet and taking all your hard-earned money?? Did it ever occur to you that you can do something about it?? Do you think the conventional methods of tax saving like insurance or PPF are not the answer to all these and there should be other ways to save tax and earn handsome return with minimum lock-in period?? If yes, then ELSS is the answer to all these and WealthTrust is the way.
Oh Wait!!! What’s wrong with PPF?? And Insurance?? Its my father’s lifeline to save tax!!
Gone are those days when the only option available was to wait for 10-15 years for insurance policy to get matured and earn poor return out of it. Now you can save tax and earn handsome return with only 3 years’ lock-in period with ELSS (equity linked tax saving schemes) investment. Its better than PPF schemes as well. The average CAGR of last 10 years for ELSS was 17%, where that for PPF was mere 8.2%. For example, If you have invested Rs 2 lakh in PPF and ELSS at the same time 15 years back, The PPF would have been, Rs 6.52 lakh at the end of 2014. Whereas the ELSS would have been Rs 21 lakhs.
Ok.. I get it!! But you cannot possibly deny that ULIP is the best kind of policy possible.. right? It gives insurance, Save tax and also gives high return..
No it doesn’t!! it “claims” to give high return but always fails to do so. Actually what happens with ULIP funds is they first take a huge amount of commission and other charges from the total money you invested. During the first year, these charges are as high as 40 to 70 per cent. If the customer cannot continue with a policy for any reason, then his real expenses are far higher. On paper they claim that you can get high returns like mutual funds do. And like some obedient, ever optimistic citizens, we believe them, failing to read *T&C part. It’s better to invest in ELSS mutual funds where you can actually get high return.
Statistics of ELSS investment for last few years:
Ok I give up!! Now please enlighten me what is WealthTrust?? And why should I download yet another Save tax app or whatever??
First, it’s not just a financial planner!! What it does is, it tracks all your and your family’s mutual fund investments in one app. You can actually check all your past investments and recent mutual fund trends by signing up with your mail id. WealthTrust also lets you buy Mutual fund and do SIP investment from its platform commission free!!
Why would I do that? I have a great relationship with my broker.. and he does all my investments commission free too..Huh!!
I am sure you two have a great relationship, but the “great relationship” comes at a price. The scenario is, there are two kind of ELSS funds i.e. regular plan and direct plan. The brokers invest in regular funds and earn 1.5 – 2% commission. Which amounts to about 6% in 3 years. You can actually save that amount by investing in direct mutual fund plan yourself.
This way you can earn Rs. 7000 more in 3 years’ time. So, if you invest today in regular plans then all the time it stays locked in, you will earn about 7000 less than what you could have earned, through direct plans. Don’t do that mistake again!! WealthTrust app also lets you switch your old mutual fund accounts to direct plan and open the new accounts in same scheme as well. That’s how you earn up to 6% extra in 3 years.
Save Tax with WealthTrust. Download ‘Best tax saver app‘ now.
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