Healthy & Wealthy Tips for F.Y.2015 - 2016

No comments

Healthy & Wealthy F.Y.2015 - 2016


Few Thumb Rules which will help in Financial decisions -
1) Life cover should be minimum 20 times of yearly income for any working individual.
2) Minimum mediclaim should be of sum insured Rs 7 to 10 lacs ( for ppl living in nonmetros)
15-20 lac ( for ppl leaving in metros)
3) Personal accident cover should be 10 times of yearly income.
4) Should keep 3 to 6 months fixed expenses as an emergency fund.
5) Tax planning should be done in the first month of Financial Year - April .
6) All should save minimum 30% of our income.
7) EMI should not be more than 35% of our gross monthly income. Zero is the best answer. And any loan should be covered with equal amount of TERM plan.
8) Post tax rate of returns on investment ideally should beat inflation with big margin.
9) Invest in avenues which will give us three types of income in our retirement -
- Interest income
- Dividend income
- Monthly withdrawal income options
10) Balance liquid assets and illiquid assets.
11 ) Invest as per future requirements and goals. Just don't invest for the word SAFETY.
12) Review investments and financial position once in a year and restructure if required.
13) Don't mix Insurance & Investments...
14) Use liquid funds if you have ideal money lying in your bank account, it will give you better returns than your bank account
Keep Visiting our website for more info 
For any of your Query Related to Insurance, Investments & Taxations call us at 

9313368533

No comments :

Post a Comment