Thread by @PranjalKamra

A Quick 6 Step Financial Plan that will save you -

1) Thousands of $$
2) Hundreds of hours

And will help -

1) Build wealth
3) Meet ur goals

👉 A Beginner’s plan that will probably outperform majority of finance experts

#PKBOLA

👇 👇 👇

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Step 1 - Term Insurance

Do’s

👉 Buy it from ur First Income
👉 Buy a cover of 20X ur annual income
👉 Take critical illness and disability riders
👉 Buy till you reach the age of 65-70 (till u have dependents)

Don’t’s

👉 Don’t go for endowment plans
👉 Don’t Buy for… twitter.com/i/web/status/1…

Step 2 - Health Insurance

Do’s
👉 Buy for entire family, atleast 5 lac
👉 Get top-up/super top-up also
👉 Buy policy with minimum cappings on room , icu etc

Dont’s
👉 Never hide existing diseases

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Step 3- Emergency funds

How much ?

An amount that can sustain ur house for 6 months.

Where ?

Park it in a Savings account with sweep-in enabled

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Step 4 - Retirement Planning

👉National Pension scheme
👉 Use a retirement calculator to decide ur investment amount

You can use the Free Retirement calculator by @Finology_recipe

recipe.finology.in/retirement-pla…

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Step 5 - Goal Planning

👉 Invest in index funds for your Goals
👉 If choosing an active fund, my fav is the flexi cap category.
👉 Most ppl
Should avoid sector/smallcap funds

PS - Use the link above to plan your goals on recipe for free.

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Step 6 - Wealth creation

Once all fixed goals are planned, we can invest the surplus in

👉 Stocks
👉 Sovereign Gold bonds
👉 Real estate

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Next week, we are launching an A-Z Masterclass on Personal Finance by @Finology_Quest

To Get it For FREE,

👉Retweet the first tweet of this thread
👉 comment “interested”

And we will send you the link on ur dm once the masterclass is live.

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