I understand your problem. Despite careful money management, frugal living, consistent investing and saving, it’s still hard to know if you are conserving enough and doing things right. Unfortunately the financial services industry is not focused on what you need. As you described, many advisors at bank or investment company branches and investment companies are focused on product sales and don’t have your passions as their top priority.

If you are comfortable DIY investing, look for a fee-only financial planner that will do a plan for you that you will put into effect. With new asset-allocation ETFs investing can be as simple as buying one balanced ETF. Unless you want to DIY, then choose a fee-based advisor that can do planning and investments, usually for an annual % of possessions.

But be cautious to look all the fees. A thorough financial plan should include your resources, liabilities, income, spending, and investments, planned from financial assumptions for your projected life-span. Here is an impartial article on financial advisors and how to choose one. This ongoing company is kind of a financial planning version of a robo-advisor. They actually low-cost semi-automated financial planning. When I was looking for a financial planner I did a web search for fee-only financial planners, interviewed 3 and choose the one I thought I’d work best with. I created this list of questions to ask an consultant that you may find useful.

The short answer is yes. Intuitively, many people believe that they shouldn’t need to pay taxes on the eye they earn for their savings. It really is their savings in the end, from money they already once paid fees on, so why should they have to again pay a taxes? People who wonder this are right: they shouldn’t need to pay taxes on their savings. By putting your money in a savings account, the bank is given by it an chance to take that money and give out a loan. This loan is used to build a homely house or buy a car or start a business.

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In come back for the lender loaning your money to the homebuyer or car shopper or business proprietor, the bank pays you interest. But it raises the question: if we shouldn’t have to pay taxes on the amount of money we earn from our savings accounts, why should we have to pay taxes on the amount of money we earn from other financial investments? Again, the answer is we shouldn’t.

Generally when the government fees something you get less of it. I don’t know how true this keeps for cost savings accounts, but it certainly holds true for other styles of cost savings. Stocks, corporate bonds, and treasury bonds are common types of investment that almost everyone takes part in (either directly, daytrading or retirement accounts through personally managed, or indirectly, through penchant funds, etc.). The investment in these stocks serve as financing to businesses (stocks and shares or commercial bonds) or even to the federal government (federal, condition, and local).

They help the firms and the federal government make investments, settle payments, or grow (ideally this only pertains to the firms). For bonds, in return for you investing/loaning your cash to these ongoing companies or the government, you get an occasional payment or produce. For stocks, if the company wisely invests the amount of money (i.e. the capital) that you provide, the worthiness of their stock goes up. If you decide to sell when the stock goes up, you obtain a profit on your investment. This is called a capital gain. Under the current taxes code, your interests on all of your different types of loans and investments are taxed. This takes money out your pocket, which hurts your prosperity today. As unfortunate as less money today might be, they have has worse long-term implications even.

Indians love investing in real property. And NRIs are no different. In fact, for some NRIs, creating a home back in your own country is almost an psychological investment. With that said, real estate in the past has given reasonable appreciation and can be a lucrative long term investment. NRIs can purchase both residential and commercial properties. However, you are unable to buy agricultural lands, farm houses or plantations.