BASIC FINANCIAL PLAN

Financial Plans don't have to be Complex. Here is a Simple Financial Plan-

🏥Buy Health Insurance- all family members (min 5L)

🛡️Buy Term Insurance- Earning members (20xAnnual Income)

🦺Create an Emergency Fund- 6 months

💰Save minimum 30% of your Income

📈Invest 70% of your Savings into Equity Instruments - Index Funds/Large cap etc.

📰Invest the rest into Debt Funds/Bonds/SGBs

🏖️Invest at least 15% of your savings in a Retirement Plan.

💵Choose Low-cost Investments, wherever possible

*Note-

Financial planning is a personalized process that should consider individual goals, income, expenses, and risk tolerance.

It's beneficial to review and adjust your financial plan periodically to accommodate changing circumstances and financial goals.

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Income Tax Department Grapples with 9.7 Million ITR Backlog, Taxpayers Await Refunds

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