A Quick 6 Step Financial Plan that will save you -
1) Thousands of $$
2) Hundreds of hours
And will help -
1) Build wealth
3) Meet ur goals
๐ A Beginnerโs plan that will probably outperform majority of finance experts
#PKBOLA
๐ ๐ ๐
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1) Thousands of $$
2) Hundreds of hours
And will help -
1) Build wealth
3) Meet ur goals
๐ A Beginnerโs plan that will probably outperform majority of finance experts
#PKBOLA
๐ ๐ ๐
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Step 1 - Term Insurance
Doโs
๐ Buy it from ur First Income
๐ Buy a cover of 20X ur annual income
๐ Take critical illness and disability riders
๐ Buy till you reach the age of 65-70 (till u have dependents)
Donโtโs
๐ Donโt go for endowment plans
๐ Donโt Buy forโฆ
Doโs
๐ Buy it from ur First Income
๐ Buy a cover of 20X ur annual income
๐ Take critical illness and disability riders
๐ Buy till you reach the age of 65-70 (till u have dependents)
Donโtโs
๐ Donโt go for endowment plans
๐ Donโt Buy forโฆ
Step 2 - Health Insurance
Doโs
๐ Buy for entire family, atleast 5 lac
๐ Get top-up/super top-up also
๐ Buy policy with minimum cappings on room , icu etc
Dontโs
๐ Never hide existing diseases
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Doโs
๐ Buy for entire family, atleast 5 lac
๐ Get top-up/super top-up also
๐ Buy policy with minimum cappings on room , icu etc
Dontโs
๐ Never hide existing diseases
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Step 3- Emergency funds
How much ?
An amount that can sustain ur house for 6 months.
Where ?
Park it in a Savings account with sweep-in enabled
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How much ?
An amount that can sustain ur house for 6 months.
Where ?
Park it in a Savings account with sweep-in enabled
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Step 4 - Retirement Planning
๐National Pension scheme
๐ Use a retirement calculator to decide ur investment amount
You can use the Free Retirement calculator by @Finology_recipe
recipe.finology.in
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๐National Pension scheme
๐ Use a retirement calculator to decide ur investment amount
You can use the Free Retirement calculator by @Finology_recipe
recipe.finology.in
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Step 5 - Goal Planning
๐ Invest in index funds for your Goals
๐ If choosing an active fund, my fav is the flexi cap category.
๐ Most ppl
Should avoid sector/smallcap funds
PS - Use the link above to plan your goals on recipe for free.
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๐ Invest in index funds for your Goals
๐ If choosing an active fund, my fav is the flexi cap category.
๐ Most ppl
Should avoid sector/smallcap funds
PS - Use the link above to plan your goals on recipe for free.
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Step 6 - Wealth creation
Once all fixed goals are planned, we can invest the surplus in
๐ Stocks
๐ Sovereign Gold bonds
๐ Real estate
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Once all fixed goals are planned, we can invest the surplus in
๐ Stocks
๐ Sovereign Gold bonds
๐ Real estate
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Next week, we are launching an A-Z Masterclass on Personal Finance by @Finology_Quest
To Get it For FREE,
๐Retweet the first tweet of this thread
๐ comment โinterestedโ
And we will send you the link on ur dm once the masterclass is live.
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To Get it For FREE,
๐Retweet the first tweet of this thread
๐ comment โinterestedโ
And we will send you the link on ur dm once the masterclass is live.
8/8
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