Not all your investments would be linked to definite goals.
1.
This is a corpus kept
aside to meet unforeseen expenses it
is a fund that you can access at the hour
of the crisis or for the unexpected and unplanned scenario if you invest this
money to earn return you will compromise it's a safety by exposing it to
volatility.
Savings bank account and
liquid fund is the place to kept emergency fund
Liquid funds allow instant withdrawal up to 50000 or 90% of
the folio whichever is lesser.
2.
A term plan will be pay
your family or pre-determined amount of money in the event of your of your
death.
In attempt to gain something out of money people pay to
the insurance company as a premium. by mixing insurance with investments they
defeat the purpose of both more importantly you end up paying hefty premiums
for small cover. A man 30 years old buys LIC’s new endowment policy for 20 lakh
cover over 25 years he will pay 77200. if you want to pay a lower premium you will
left with an even smaller cover. Insurance
should be linked only to the goal of providing financial protection to the
family in case of one’s ultimate death.
3.

Gold in
itself is not a bad investment, taking the jewellery route is not a good idea.
First buying
gold jewellery have to shell out 10-35% extra on a making and wastage charges.
Second
selling gold is tough the jewellery for the whom you bought the jewellery in the first place may pay yu in cash but
only after deducting the making and the wastage charges jewellery is a symbol of the wealth which does not
generate any profits. invest in a gold is a much better to invest in ETFs.
4.

The house possession you consume you are the unlikely to sell your house to meet a future
goal even if you sell your house, another house will have to be bought with
that money or rent will have to be paid if you did not choose to buy so even if
your house depreciates in a value should not get worried however a second
property will be a part of your the personal wealth as it may generate an
income and the change in its price will be affect your overall net worth.
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