Balance is the key to financial planning

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There is a deep relationship between financial planning and Lord Krishna’s Dahi-Handi ritual celebrated during Janamashtmi. The balance that is needed to reach the Dahi Handi is also necessary for efficient management of personal finance.

Money9 Helpline hosted Money Mantra’s founder Viral Bhatt to explain the Dahi-Handi connection of financial planning.

Edited excerpts

Ali Ahmed, Kanpur: I have invested in MFs and small case but these give returns after a long period of investment. How can I make dividends as passive income?

Bhatt: A lot of people have this myth that mutual funds do not give dividends. However, if you see the mutual funds in terms of all the stocks, then you do get the dividends in your NAVs. There also exists a type of funds through which you can take dividend option and get profits. So, if you want to see these dividends in your income then there are dividend aiding stocks available. You can create a basket of dividend aiding stocks.

Samarth Shukla, Delhi: I am 54 years old and a regular investor in the post office monthly income scheme for the last 7 years. Given the low rates, I want to switch to mutual funds. What are safe and profitable funds I should invest in?

Bhatt: If you want to switch from the earnings you get from the post office scheme, you can look for debt funds in mutual funds or conservative hybrid funds.

Watch the full video to know more