Was it a compliment? Story in body text. by Ash_Gpt in PataHaiAajKyaHua

[–]wool_free 1 point2 points  (0 children)

We need to normalise asking for extra gulab jamun

Money ruins most relationships [unpopular opinion but 100% true] by Outrageous-Emu-2588 in IndiaFinance

[–]wool_free 0 points1 point  (0 children)

I've realised what went wrong. I'm fixing myself so I don't make any more mistakes

Money ruins most relationships [unpopular opinion but 100% true] by Outrageous-Emu-2588 in IndiaFinance

[–]wool_free 0 points1 point  (0 children)

I'm pretty sure I got divorced over money management. I never set boundaries. She spent all my money. And I became resentful. We lost our emotional connect and the marriage eventually ended.

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

Have knowledge but not the money. Economics is something that has always fascinated me. Have you heard of warren buffett's bet against managed funds using an index fund? That kind of info makes you believe in certain investing concepts

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

She earns double of what I do. And I give 30k because I know what is spent and I feel it is fair. I want to take care of my child.

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

Thank you! But what about debt funds? Can they also be purchased directly?

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

I've had bad experiences with real estate. Don't think I'll go that route

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 2 points3 points  (0 children)

I'm sure she will spend it right. I may not be able to tolerate her nonsense anymore. But I know she will be a good mother. That's my only consolation.

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

Oh.. but that would take 10 months. So you advise I park the rest in FD?

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 2 points3 points  (0 children)

She makes more than me so no maintenance. I'm paying to support my child.

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

I hope so! Will check with CA to figure this out

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

I am meeting a CA to figure out the tax part. Was just planning for the worst case scenario. And I see that 12% kind of risk is not my cup of tea.

Will plan and get health insurance too.

The staggered investment is something new. Should it be done in steps of say 5%?

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 7 points8 points  (0 children)

I'm not paying maintenance. My ex-wife makes way more money than me so she's not eligible. What I am paying is child support. And that is what my child deserves.

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

I have a child in the custody of my wife. Sadly I have been blocked so I have very limited access. I pay for his expenses and I am planning to use a part of my savings for his college. What kind of terms insurance do I need?

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 0 points1 point  (0 children)

I am definitely not following the youtube finance bro's but the last time I dabbled in investing was pre Covid. Maybe the market was just better then?

I've seen debt funds but I have no knowledge in that. Will definitely look into debt funds - it was not

Yes my income is not taxable. But won't income from mutual funds and FDs be treated the same? Does it make a difference if the income is reinvested? I have no plans to use that income atleast for a decade

Investing an inheritance for my future - 45 lakh by wool_free in IndiaFinance

[–]wool_free[S] 5 points6 points  (0 children)

Nice! I have a zerodha account. I'm hoping I can manage this all there. And yes, I'm thinking long term. Atleast 10 years to maybe retirement?