The above explanation doesn't need any figures to be expalined with .......every man knows about it .REDIFF ..please dont publish articles like this ...
the whole thing is that sabse bada rupeaya . What the use of playing with number . When at the end all depend on your income . It is obvious fact of life the more you more you will save . Bullshit article . dont understand how it will help people in life.
I wish there is some table that can explain the kind of savings a single person can save if he has an yearly income of 3 lakhs. Assuming he leeds a not so very expensive life style
RE:RE:What about singles who earn 2-3 lakhs a year?
by Balvinder Singh on Jul 02, 2007 01:40 PM Permalink
you can get one from many sites like moneycontrol.com, valueresearchonline.com etc. or visit any insurance company site and check for pension funds.
RE:What about singles who earn 2-3 lakhs a year?
by indrakanti satyanarayanarao on Jul 02, 2007 02:01 PM Permalink
I will give few tips only. Draw a plan, wherein you identify the events such as ur marriage after how many years, and how much u may like to spend?, similarly for the house when and how much amount u need, for the car, then for ur retirement etc If u hv dependent parents then, for their medical needs. Convert events into some definite figures. Let us as example, say after 5 years u wish to get married and expenses are likely to be Rs. 5 lakhs. Many websites of mutual fund co., give ready made tables, where in u will know how much u should save monthly, so that it becomes Rs 5 lakhs. Approx growth rate say 15%, then for 5 lakhs in 5 yrs, u need to save 5648 per month [inflation not considered]. Add such monthly figures, then start saving. Another important thing, 60-ur age say 40. multiply with 3 [ur ann inc], ur worth 120 lacs for ur family, so go for insurance for atleast 20 lacs to begin with. like this u approach and need based financial plan will be ready for you. Best of luck.
