Latest news with #SuperMoney
News18
8 hours ago
- Business
- News18
Flipkart Secures RBI's NBFC License To Offer Direct Loans To Buyers And Sellers
Last Updated: Flipkart becomes first major ecommerce to get the RBI licence to work as an NBFC. Flipkart has successfully secured a Non-Banking Financial Company (NBFC) license from the Reserve Bank of India (RBI), allowing it to facilitate lending business independently. This license allows Flipkart to provide loans directly to both customers and sellers on its platform. It marks a pivotal moment in the e-commerce journey that has so far depended on third-party. Flipkart Finance Private Limited received its registration certificate in March 2025, making Flipkart the first major Indian e-commerce firm to gain such authorization. Currently, Flipkart collaborates with financial institutions like Axis Bank and IDFC First Bank to offer consumer loans. The new NBFC license enables Flipkart to independently enter the lending market. Flipkart is reportedly planning to offer loans directly via its e-commerce website and its fintech application – Walmart acquired a majority stake in Flipkart in 2018 at a deal worth $16 billion. Flipkart's move into direct lending is anticipated to enhance its profitability while improving financial services for its extensive user base. The company plans to integrate lending solutions into its e-commerce platform and the Super Money fintech app, offering personal loans and credit options to both buyers and sellers. A PwC report highlights that India's lending market has grown significantly over the past five years, from FY18 to FY23, with a CAGR of 14.8 percent. From FY21 to FY24, the number and value of loans disbursed by FinTechs have increased dramatically, with a CAGR of 81% (from 1.72 crores to 10.19 crore) and 46% (from INR 0.47 lakh crore to INR 1.46 lakh crore), respectively. The growth is attributed to innovations by FinTechs, leveraging technology to expand their reach, automate operations, and improve credit access. PwC report states that a significant majority of digital lending, amounting to 96% of the value of disbursed digital loans by FinTechs, has been in the form of personal loans – predominantly below INR 5,000. First Published:
Yahoo
a day ago
- Business
- Yahoo
8 Social Security Mistakes Gen X Needs To Avoid
As Generation X edges closer to retirement, Social Security decisions are becoming more relevant, and possibly more complicated. The choices you make in your 40s and 50s can dramatically affect how much income you'll receive later. Be Aware: Read More: From claiming benefits too early to ignoring tax implications, there are several avoidable mistakes that could shrink your monthly check or leave you financially unprepared. Here are the biggest Social Security pitfalls Gen Xers should avoid, according to financial experts, planners and attorneys. For many Gen Xers, taking Social Security at 62 seems like the default move. But experts warn that this could lock you into lower benefits for life. 'Claiming at 62 might feel like a head start, but it's often a long-term budget killer,' said Andrew Latham, certified financial planner (CFP) at SuperMoney. 'You lock in a permanent reduction, up to 30% less than your full benefit.' While early claiming may be necessary in some situations, such as poor health or lack of income, Dr. Shawn DuBravac, CEO and president of the Avrio Institute, emphasizes the long game: 'Filing too early can put unnecessary pressure on your financial future,' especially with longer life expectancies and the potential for a 30-year retirement. Find Out: Many Gen Xers plan to work part-time or consult in early retirement. But if you collect Social Security before your full retirement age, those earnings could reduce your benefits. 'If you're under full retirement age, Social Security deducts $1 from your benefits for every $2 you earn above a certain limit,' said Ashley Morgan, attorney, tax resolution expert and founder of Ashley F Morgan Law. 'In 2025, that limit is $23,400.' In short: Working while claiming can create a lose-lose situation unless you're strategic. Even self-employment income can come back to bite if you don't track and report it correctly. A surprisingly common misstep? Relying solely on Social Security to cover your retirement. 'Another common misstep is assuming Social Security benefits alone will be enough. It likely won't be,' said Dr. DuBravac. 'Delaying benefits and building diversified income streams through other retirement like IRAs or [401k plans] can lead to significantly greater financial stability down the road.' William Connor, certified financial advisor (CFA,) CFP and partner at Sax Wealth Advisors agreed: 'Social Security should be viewed as one piece of a multi-pronged approach to retirement income.' Social Security benefits are calculated based on your 35 highest-earning years. If there are mistakes or gaps in your earnings history, your future checks could take a hit. 'Gen Xers should create an account with the Social Security Administration and review your earnings history,' said Connor. 'Inaccurate records can lead to reduced benefits.' Ashley Morgan echoed this: 'Previously, the SSA mailed out earning reports. Now, you have to go online and check yourself. Getting errors fixed is much easier sooner than later.' If you're self-employed and routinely deduct business expenses to lower your tax bill, you may also be shrinking your future Social Security benefits without realizing it. 'Your Social Security benefit is based on your taxable income,' said Morgan. 'So writing off too much may reduce the income you're reporting to the SSA, and thus, your future payout.' Worse, if you don't report that income within three years, you may not get Social Security credit for it at all. Whether you've been married, divorced or widowed, spousal and survivor benefits can be a lifeline. But many Gen Xers don't realize they're eligible. 'Generally, if your spouse is fully retired and you've reached full retirement age, you may qualify to collect half of their benefit or the full amount as a survivor,' said Morgan. This is especially valuable for stay-at-home parents or those with lower lifetime earnings. Even divorcees could qualify if the marriage lasted 10 years or more and they haven't remarried. With frequent headlines about Social Security's future, it's easy to assume the program will be 'bankrupt' by the time Gen X retires. But that assumption can lead to poor decisions, like early filing out of fear. 'While Social Security does face long-term funding issues, it seems unlikely that the program will be eliminated,' said Connor. 'Gen Xers should plan for a potential reduction — say, 70% of projected benefits — but not assume the entire system will collapse.' Yes, Social Security income can be taxed both at the federal and possibly state level. 'Up to 85% of your benefits can be taxable if your combined income is above a certain threshold,' said Connor. 'High-income Gen Xers need to start thinking now about tax-efficient portfolio withdrawals to reduce the hit.' Dr. DuBravac also warns that without a coordinated drawdown strategy, you could end up paying more taxes than necessary, especially during your highest-earning years. 'Many Gen Xers still believe there is considerable time before they need to focus on retirement planning,' said Connor. 'But waiting reduces options.' Now is the time to run scenarios, check your earnings record, coordinate your retirement accounts, and get a Social Security strategy in place that fits your health, lifestyle and income plans. After all, Social Security isn't just a check. It's a decision that can impact your financial future for decades. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on 8 Social Security Mistakes Gen X Needs To Avoid
Yahoo
a day ago
- Business
- Yahoo
8 Social Security Mistakes Gen X Needs To Avoid
As Generation X edges closer to retirement, Social Security decisions are becoming more relevant, and possibly more complicated. The choices you make in your 40s and 50s can dramatically affect how much income you'll receive later. Be Aware: Read More: From claiming benefits too early to ignoring tax implications, there are several avoidable mistakes that could shrink your monthly check or leave you financially unprepared. Here are the biggest Social Security pitfalls Gen Xers should avoid, according to financial experts, planners and attorneys. For many Gen Xers, taking Social Security at 62 seems like the default move. But experts warn that this could lock you into lower benefits for life. 'Claiming at 62 might feel like a head start, but it's often a long-term budget killer,' said Andrew Latham, certified financial planner (CFP) at SuperMoney. 'You lock in a permanent reduction, up to 30% less than your full benefit.' While early claiming may be necessary in some situations, such as poor health or lack of income, Dr. Shawn DuBravac, CEO and president of the Avrio Institute, emphasizes the long game: 'Filing too early can put unnecessary pressure on your financial future,' especially with longer life expectancies and the potential for a 30-year retirement. Find Out: Many Gen Xers plan to work part-time or consult in early retirement. But if you collect Social Security before your full retirement age, those earnings could reduce your benefits. 'If you're under full retirement age, Social Security deducts $1 from your benefits for every $2 you earn above a certain limit,' said Ashley Morgan, attorney, tax resolution expert and founder of Ashley F Morgan Law. 'In 2025, that limit is $23,400.' In short: Working while claiming can create a lose-lose situation unless you're strategic. Even self-employment income can come back to bite if you don't track and report it correctly. A surprisingly common misstep? Relying solely on Social Security to cover your retirement. 'Another common misstep is assuming Social Security benefits alone will be enough. It likely won't be,' said Dr. DuBravac. 'Delaying benefits and building diversified income streams through other retirement like IRAs or [401k plans] can lead to significantly greater financial stability down the road.' William Connor, certified financial advisor (CFA,) CFP and partner at Sax Wealth Advisors agreed: 'Social Security should be viewed as one piece of a multi-pronged approach to retirement income.' Social Security benefits are calculated based on your 35 highest-earning years. If there are mistakes or gaps in your earnings history, your future checks could take a hit. 'Gen Xers should create an account with the Social Security Administration and review your earnings history,' said Connor. 'Inaccurate records can lead to reduced benefits.' Ashley Morgan echoed this: 'Previously, the SSA mailed out earning reports. Now, you have to go online and check yourself. Getting errors fixed is much easier sooner than later.' If you're self-employed and routinely deduct business expenses to lower your tax bill, you may also be shrinking your future Social Security benefits without realizing it. 'Your Social Security benefit is based on your taxable income,' said Morgan. 'So writing off too much may reduce the income you're reporting to the SSA, and thus, your future payout.' Worse, if you don't report that income within three years, you may not get Social Security credit for it at all. Whether you've been married, divorced or widowed, spousal and survivor benefits can be a lifeline. But many Gen Xers don't realize they're eligible. 'Generally, if your spouse is fully retired and you've reached full retirement age, you may qualify to collect half of their benefit or the full amount as a survivor,' said Morgan. This is especially valuable for stay-at-home parents or those with lower lifetime earnings. Even divorcees could qualify if the marriage lasted 10 years or more and they haven't remarried. With frequent headlines about Social Security's future, it's easy to assume the program will be 'bankrupt' by the time Gen X retires. But that assumption can lead to poor decisions, like early filing out of fear. 'While Social Security does face long-term funding issues, it seems unlikely that the program will be eliminated,' said Connor. 'Gen Xers should plan for a potential reduction — say, 70% of projected benefits — but not assume the entire system will collapse.' Yes, Social Security income can be taxed both at the federal and possibly state level. 'Up to 85% of your benefits can be taxable if your combined income is above a certain threshold,' said Connor. 'High-income Gen Xers need to start thinking now about tax-efficient portfolio withdrawals to reduce the hit.' Dr. DuBravac also warns that without a coordinated drawdown strategy, you could end up paying more taxes than necessary, especially during your highest-earning years. 'Many Gen Xers still believe there is considerable time before they need to focus on retirement planning,' said Connor. 'But waiting reduces options.' Now is the time to run scenarios, check your earnings record, coordinate your retirement accounts, and get a Social Security strategy in place that fits your health, lifestyle and income plans. After all, Social Security isn't just a check. It's a decision that can impact your financial future for decades. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) This article originally appeared on 8 Social Security Mistakes Gen X Needs To Avoid Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
28-05-2025
- Business
- Yahoo
Don't Check Your Stock Portfolio on Mondays
If you've ever peeked at your investment portfolio on a Monday morning and felt your stomach drop, you're not alone. For You: Find Out: Mondays have a reputation for being volatile on Wall Street, and it's not just because people are groggy from the weekend. Financial experts agree that checking your portfolio on Monday can stir up unnecessary stress and, worse, lead to rash investment decisions. Here's why it's smarter to wait, and how long-term investors can use this insight to stay calm and committed. Unlike the markets, the news cycle doesn't take weekends off. From corporate earnings leaks to geopolitical events, information builds up over the weekend and is quickly digested by investors come Monday. The result? Market overreactions. 'Monday can typically be a chaotic one. With the markets closed over the weekend, the news continues to give out information that investors break down, and it can lead to swings on Monday,' explained Chad Gammon, CFP and owner of Custom Fit Financial. 'Checking your portfolio on a Monday is like stepping on the scale after a weekend; you probably won't like what you see,' added Andrew Latham, CFP with SuperMoney. 'But it's mostly bloat that disappears by midweek if you stick to your plan.' That makes Monday one of the worst days to judge your portfolio's true health. One or two red numbers might not mean your financial goals are in jeopardy. It may just mean that the market is reacting to the latest headlines. 'Mondays are known for market jitters, and there's even something called the Monday Effect, where stocks often dip or behave erratically at the start of the week, possibly due to weekend news or nerves, or companies releasing bad updates after markets close on Fridays,' said Nicole Carlon, CFP, CDFA, of WiseOak Wealth, LLC. 'Whatever the reason, checking your portfolio on a Monday can give you an unnecessarily negative picture,' she added. Be Aware: Frequent portfolio check-ins may seem responsible, but they can backfire, especially if you're doing it on a day like Monday, when emotions and volatility are high. 'Checking in frequently on your portfolio can lead to some emotional reactions that hurt you financially in the future with impulse decisions,' said Gammon. 'You should consider reviewing your investments on a monthly or quarterly basis at the most to help avoid impulse decisions.' 'I've seen people panic over a red Monday screen, only to watch things bounce back within a day or two,' added Carlon. 'If you're investing for the long haul, reacting to early-week swings can do more harm than good.' The key? Don't panic. The stock market has natural ups and downs, which are often exaggerated early in the week. Stick to your strategy instead of reacting to temporary turbulence. Interestingly, there's no one-size-fits-all when it comes to portfolio check-ins. Some investors actually benefit from seeing daily swings. 'This may sound counterintuitive, but some clients check their portfolios daily. This actually alleviates some of their fears, since they get comfortable with the day-to-day swings,' explained Jake Falcon, CRPC, founder and CEO of Falcon Wealth Advisors. 'If you only check it on Mondays, it can actually induce more fear.' But whether you check it frequently or on a structured schedule like quarterly reviews, the real danger comes from acting on emotion. 'We encourage clients to focus on their financial plan, not the headlines. Your portfolio is a tool to help you reach your goals,' said Falcon. 'Most importantly, we advise our clients to not let their emotions dictate their investment decisions. This is where having a trusted advisor can make all the difference.' Carlon added that it's important to check on your investments intentionally. 'Set time aside every few months to review your portfolio in the context of your long-term goals, not in response to a single rough morning. In the meantime, use Mondays for things like reviewing your budget or setting financial goals, not stress-scrolling your account.' Unless you thrive on stress, Mondays are probably the worst day to check your portfolio. Between weekend news reactions and emotional market swings, you're more likely to make impulsive decisions that derail your long-term goals. So what should you do instead? Develop a review habit that works for your mindset and stick to a sound investment plan. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? The New Retirement Problem Boomers Are Facing This article originally appeared on Don't Check Your Stock Portfolio on Mondays
