tax deduction planning time We should mainly look at the investment goals. and view tax benefits as a bonus Because what we really get is the return on investment from the assets we invest in. And in addition, we also have to hold it for the period specified by law as well.
.
One of the options that many people use in their tax planning is mutual funds. (RMF-Retirement Mutual Fund), which the law conditions for tax deduction are as follows:
- The deductible amount is 30% of the taxable income. As actually paid and up to 500,000 baht
- Should buy consecutively every year or not to suspend the purchase of RMF for more than 1 year (purchase every other year deemed not to be in violation of the conditions)
- Must hold investment units in mutual funds for not less than 5 years and reach the age of 55 years starting from the date of the first RMF purchase (5 years counting, only the year in which RMF is purchased, if any year does not invest, will not can count)
From the above conditions, it can be seen that the RMF is designed to assist in our retirement planning. Because it requires continuous, consistent investment and can be sold back when the age is near retirement age. (or retired) sure enough
However, many people often misunderstand that at a young age, they may not need to plan for retirement. therefore neglecting this goal which is something that should not be done Because the younger you are We therefore need to quickly plan for retirement. Because it has advantages over a long investment period. Compound return and the amount of investment used is less
but vice versa Some people may invest only part of RMF and not fully qualify for tax deduction. and still have cash flow left with the question in mind that If there is money left (in tax reduction planning), what should we choose to do next?
Therefore, I would like to invite you to think further. What can we still use RMF for? In addition to retirement planning which here may have to come back and look at our problem that On the day of being over 55 years old and able to invest continuously for more than 5 years, do we still have any hidden goals?
- collect more money to spend in retirement as you wish In addition to the money that is actually used for retirement, such as taking money to travel around the world (Wow) for medical expenses. Or follow a dream that you want to do many things to fulfill the needs in your heart.
- Other purposes for our loved ones, such as saving money for our children, lover, or rewarding something for life. without affecting the retirement funds that we have for ourselves
- etc.
You will see that the important things that RMF can help fulfill Maybe there are other hidden goals besides the retirement planning that we have as the main goal. and those small goals It is another good inspiration that we will use in planning to save money in order to achieve goals.
If anyone has ever listened to my lecture on tax planning. It should be enough to hear what I often share with you. that is buy Retirement Mutual Fund (RMF) kept for children
which is the reason I choose this Because on the day my child was born, I was 34 years old. If counting in about 20 years from now, by the time I turn 55, my child will turn 21, which is the age when he is likely to be close to graduating. and started living his own life which at that time if there was a piece of money to start life This money should make his life a little easier.
with this goal started from the year the child was born So I decided to plan this part separately from my main retirement portfolio that I had already planned part of the RMF. Make the money to buy RMF each year. There will be 2 goals for me, which are my own retirement goals and my child’s life default goals.
At this point, many people may argue that hey, but really, it doesn’t have to be stored in RMF format, right? can be stored in many other formats which I often explain why Why do you think like this? For these 3 reasons
1.RMF responds to selected assets to invest
Because I have a purpose to save money for future goals. (Save my kids for the next 20 years) which means that with time I can invest in more risky assets. to get more returns and more convenient than investing by yourself Because I have a full-time job to do. and have other responsibilities to take care of which investments by yourself may bring more returns But considering the time wasted I think that mutual funds are managed by a fund manager. Should answer this question better.
2. This goal is important and requires discipline.
so using The RMF dictates investment discipline in accordance with the law. It inevitably dictated that I had to follow through, and most importantly, this money wouldn’t be available until I was 55, meaning I had to be very careful and confident that I wouldn’t sell it before the maturity date. Because otherwise there will be a problem of tax benefits. And another way is to see this investment portfolio grow with children. It is considered another way of life and purpose.
3. Benefit from the tax deduction
In addition to the rewards I get to keep my money reaching my goals, I also receive my own tax break benefits. And in the future, the older I get, the more I will (expect) earn. Buying RMFs will also provide more tax breaks. This is a hidden benefit that I received for free. without affecting the goals I want
“However, this is a long-term investment. The next thing to plan is to optimize the port. and the selection of investment assets in accordance with the risks and circumstances It’s not that you buy it and then finish it. But have to watch and improve accordingly. Another hidden advantage of RMF funds is that we can switch funds throughout the investment. This is not considered a sale and does not affect the tax benefits received. If the return of any fund is not good We can also modify or shuffle funds to suit each time period as well.”
Therefore, it is important to invest in tax deduction. no matter which tool The first is that we really have to ask ourselves, What is the investment goal? We will choose which asset to benefit satisfactorily. And we are confident that we can achieve that goal or not.
Because the tax-deductible fund that we choose to use, such as RMF, may not be able to meet only our retirement goals. If we learn to adapt to meet the goals of life that we have.