Welcome to new financial year. Few thumb rules help in financial decisions- 1) 100 minus our age should be our equity allocation. 2)Minimum 20 times of our yearly income should be our retirement fund. 3) We all should save minimum 30% of our income 4) Cost of our house should not be more than 6 to 8 times of our family income. 5) EMI should not be more than 35% of our gross monthly income. 6) Rate of returns ideally should beat inflation. 7) Rule of 72 & 115...... How many years double or triple our money ? * 72/Returns= double in yrs * 115/ returns = triple in yrs. 8) Rule of 70= Future buying power of your money. *70/Inflation= Number. of yrs. 9) Life cover should be Minimum 10 times of your yearly income. 10) We should keep 3 to 6 months expenses as an emergency fund. 11) we should have minimum Mediclaim of 10 lakhs.
Financial Mantra for Life.
Financial Mantra for Life.
Financial Mantra for Life.
Welcome to new financial year. Few thumb rules help in financial decisions- 1) 100 minus our age should be our equity allocation. 2)Minimum 20 times of our yearly income should be our retirement fund. 3) We all should save minimum 30% of our income 4) Cost of our house should not be more than 6 to 8 times of our family income. 5) EMI should not be more than 35% of our gross monthly income. 6) Rate of returns ideally should beat inflation. 7) Rule of 72 & 115...... How many years double or triple our money ? * 72/Returns= double in yrs * 115/ returns = triple in yrs. 8) Rule of 70= Future buying power of your money. *70/Inflation= Number. of yrs. 9) Life cover should be Minimum 10 times of your yearly income. 10) We should keep 3 to 6 months expenses as an emergency fund. 11) we should have minimum Mediclaim of 10 lakhs.