How should a person earning 10-12L a year plans his investments and savings?
The primary concern is saving tax.
Provided he has zero dependents and no loans and liabilties.
Originally posted by Vinayak Kejriwal on Facebook
link: facebook.com/groups/147164928687742/user/100003209411902/
The primary concern is saving tax.
Provided he has zero dependents and no loans and liabilties.
Originally posted by Vinayak Kejriwal on Facebook
link: facebook.com/groups/147164928687742/user/100003209411902/
- Don’t buy term Insurance unless you have dependents
- If your company don’t have health Insurance(5lakhs min) go for it. However try
max to stay fit.
- Open a PPF(or you can invest in VPF) and ELSS account as well for Tax Saving.
Invest in Equity and Debt instruments maintaining a ratio(watch freefincal
videos in youtube for guidance)
- Start building an Emergency fund in parallel(6 months of your expenses min)
Remember this, building capital is more important then choosing where you want
to invest. In the process of building capital you will gradually learn and take
more mature decisions to put your money in right bucket.
Must watch goal based investment videos.