The Rite Plan

Every specie on this planet earth has a life cycle. We humans are no exception. We also have a life cycle and within this life cycle we pass through different life stages. There are certain responsibilities which we perform at each life stage and somehow most of these activities are related to money. Let’s see our life’s connect to money and how it impacts our life cycle. I.                     Childhood and Education We remain in this life stage for approximately 20-25 years (from birth till graduation/post-graduation). Though we don’t earn money here, but our life is quite dependant on the kind of money our parents earn. Money lessons learnt from the surroundings in this stage form the foundation of our money behaviour going forward. II.                   Career Development This is the stage where we get directly connected to money. In the beginning of this stage, most of us splurge, party, and enjoy our earnings as we are accountable to none. People who understand

I. FD’s are the Best Investments Post Demonetisation Banks have reduced their deposit rates. Following which Fixed Deposits now are not an attractive debt investment option. Moreover, If you fall in 30% Tax Bracket then the return which you will earn from your FD will fall further. II. Time the Markets They Say, Time and Tide waits for none. Well, you can say the same for equity markets as well. So, don’t try to time the market, stay invested for the long term. *Sensex moved from 26595 to 34056 in the year 2017 III. Save only during Tax saving season As Benjamin Franklin rightly said, “You may delay, but time will not.” You should not save only in the Tax saving season, you should invest systematically with discipline at regular intervals. This way you can average out your returns. IV. Rely on your Company Health Insurance Most of us don’t take Personal Health Plan, thinking that our Company covers us. But have we ever thought of a scenario when we ar