It's been close to a year since I am earning a salary and this is what I do:
Invest a little less than 30% straight into MFs. I have three ongoing SIPs- small cap, flexicap and a Large + Midcap fund. (Planning to increase the amount further into these and not start a new sip)
Max out 80C by putting the entire limit in PPF, this is on top of what is by default deposited into EPF.
A little (inconsistently) into direct stocks as and when I find or get to know about a decent trade opportunity.
An LIC ULIP plan that my father made me subscribe to 🙂 (hopefully will end in a couple more years)
Tips from experienced folks will be much appreciated.😄
Yaar LIC ka batana. I'm being hoarded by someone I know for it. Reddit says it's a dog shit deal. But I'm still undecided.
Following the 50-30-20 rule for 5 years now.
Started with a salary of 6LPA fixed. Now at 25LPA.
Investing 30% for retirement. 20% for big purchases and using 50% for daily expenses, whatever is remaining from the 50% gets reinvested in the 20% segment.
30% goes to a mutual fund SIP.
20% goes to a RD. RD duration 9 to 24 months. Depending on my wants.
Rebalancing both segments every time I get a raise in my salary.
This simple approach has been really helpful in creating a 12 months emergency fund and 20+ lacs in my retirement fund.
Thanks for sharing!😄
I have term insurance of 3cr and health insurance of 5lacs. An insurance for my parents 20lacs. All this expense comes around to 14k per month, after which I do 50-30-20 split.
I do the same. Invest 50% in MF(Flexi cap and Index funds) and remaining in 80C instruments here and there. Tip - Make sure you have a 6Month Emergency Fund, Health and Term Insurance before starting your investment journey.
I’ll go first.
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