Personal Finance is highly subjective and you can not have the single thumb rule which will apply to all the individuals. But there are certain thumb rules which can give you a some idea about how to act while investing.
Though it is not advisable to depend solely on these thumb rules, it is always desirable that you take the help of financial adviser before taking any decision.
Here is the list of some commonly used thumb rules into the field of personal finance.
1) 100 minus our age should be our Equity allocation.
2) Minimum 20 times of our yearly income should be our Retirement fund.
3) We all should Save minimum 30% of our income:
4) Cost of our House should not be more than 6 to 8 times of our family income.
5) EMI should not be more than 35% of our gross monthly income. Zero is the best answer.
6) Rate of returns ideally should beat inflation.
7) Rule of 72 & 115......
How many years double or triple our money ?
* 72/Returns = Double in yrs
* 115/ Returns = Triple in yrs.
8) Rule of 70 = Future buying power of your money.
*70/Inflation= Number. of Years.
9) Life cover should be Minimum 8 to 10 times of your yearly income.
10) We should keep 3 to 6 months expenses as an Emergency Fund.
Moral-
People want shortcuts, that's why thumb rules find some place. But it is always desirable to take the help of financial adviser before taking any financial decisions. The above mentioned thumb rules might give a clue but not the exact answer to your queries related to financial planning. In the world of finance there is no "One size fit to all".
------------------------------
Invest Rs 1,50,000 and Save Tax under Section 80C. Get Great Returns by Investing in Best Performing ELSS Mutual Funds
Top 10 Tax Saver Mutual Funds to invest in India for 2016
Best 10 ELSS Mutual Funds in India for 2016
1. BNP Paribas Long Term Equity Fund
2. Axis Tax Saver Fund
3. Religare Tax Plan
4. DSP BlackRock Tax Saver Fund
5. Franklin India TaxShield
6. ICICI Prudential Long Term Equity Fund
7. IDFC Tax Advantage (ELSS) Fund
8. Birla Sun Life Tax Relief 96
9. Reliance Tax Saver (ELSS) Fund
10. Birla Sun Life Tax Plan
Invest in Best Performing 2016 Tax Saver Mutual Funds Online
For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call
------------------------------
Leave your comment with mail ID and we will answer them
OR
You can write to us at
PrajnaCapital [at] Gmail [dot] Com
OR
Leave a missed Call on 94 8300 8300
------------------------------
0 comments:
Post a Comment