Financial planning for people at twenties:
People at twenties are energetic and eager to explore new paradigms in life. Being financially secure enough is essential, to ensure that people have to start their goal based investments as soon as they start earning . As CTC offered ranges from 200K to 800K per annum, one should ensure that a portion of what is earned is to be wisely invested to anticipate future requirements.
Let me, group people at twenties into two categories which are early twenties and late twenties.Former are the group of people who are upto the age of twenty five, who have kick started their career with a determination to learn and excel in their respective avenues. Latter are the set of people at late twenties, progressing in their career,getting married, let me say shouldering more responsibilities.This post is exclusively for those who are at early twenties.
Investment???is an art or a science?? a quite debated topic.But,I am sure that perfection can be attained in it only by practice. At an early stage I would suggest to start investing in a Systematic Investment Plan ( SIP) offered by mutual fund houses. Invest 5 to 7 percent of monthly salary earned for a period of 3-5 years would be beneficial in near future.Opt for a peperless SIP,which has been recently rolled out by BSE Star MF. So that investing in it becomes hassle free.
A company group insurance policy would be there for all, irrespective of it better to have your own term insurance plan. A term plan can be availed online. Remember earlier you start, lesser you pay as a premium.
Happy Investing folks!!
People at twenties are energetic and eager to explore new paradigms in life. Being financially secure enough is essential, to ensure that people have to start their goal based investments as soon as they start earning . As CTC offered ranges from 200K to 800K per annum, one should ensure that a portion of what is earned is to be wisely invested to anticipate future requirements.
Let me, group people at twenties into two categories which are early twenties and late twenties.Former are the group of people who are upto the age of twenty five, who have kick started their career with a determination to learn and excel in their respective avenues. Latter are the set of people at late twenties, progressing in their career,getting married, let me say shouldering more responsibilities.This post is exclusively for those who are at early twenties.
Investment???is an art or a science?? a quite debated topic.But,I am sure that perfection can be attained in it only by practice. At an early stage I would suggest to start investing in a Systematic Investment Plan ( SIP) offered by mutual fund houses. Invest 5 to 7 percent of monthly salary earned for a period of 3-5 years would be beneficial in near future.Opt for a peperless SIP,which has been recently rolled out by BSE Star MF. So that investing in it becomes hassle free.
A company group insurance policy would be there for all, irrespective of it better to have your own term insurance plan. A term plan can be availed online. Remember earlier you start, lesser you pay as a premium.
Happy Investing folks!!
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