How to have a financially balanced life?

Having a financially balanced life may seem more difficult these days due to inflation and the living cost having gone northwards. However everybody wants a peaceful balanced life. We can follow the below technique towards achieving that.

We ought to save around 40% of our total income towards achieving a financially balanced life.

For example, if a person earns 1 lakh per month below is the breakup.,

5% of savings towards health insurance                 - Rs. 5000  per month
5% of savings towards life   insurance                 - Rs. 5000  per month
5% of savings towards mutual funds                     - Rs. 5000  per month
5% of savings towards stock markets                   - Rs. 5000  per month
5% of savings towards GOLD                             - Rs. 5000  per month
5% of savings towards Bank Fixed Deposits     - Rs. 5000  per month
10% of savings towards Real Estate/Housing Loans  - Rs. 10000 per month

Around Rs. 40000 should be saved towards having a balanced and carefree life.

Real Estate and Gold might yield huge returns in a span of 10 years.
Stock Markets and Mutual funds might return considerably high returns in a span of 5 years.
Fixed deposits may return 6-7% yield in a span of 5 years.
Life and Health insurances are must.

For more details on LIC, Health insurance please contact lic_rangarao@yahoo.co.in or 9382266866 (Chennai Customers).
Location: Mudichur Rd, Tamil Nadu, India

Comments

Post a Comment

Popular posts from this blog

Why So Serious, Huh ?

Of course the outside world is challenging. It is evolving every minute and we have to adapt to it at the right time. We have to be making continuous progress. We are often held up and occupied with tasks. We don’t have time for others. The fear of getting left behind has groped us. Whole day we reflect the issues we face or about to face at work. We are completely immersed into an ocean of problems before even they reach us. We forget our identity and play someone else. We portray an altogether new human which is nowhere close to ourselves. In that process we forget our true selves and don’t live life to the fullest. The very reason for this is the world and the platform which has gone increasingly challenging. People with similar or more knowledge and skills are out there – out to demolish us and we are caught in a vicious circle of survival. We are merely focused towards hanging on – to survive – to let the time move. Relationships - especially people management tactics have g
Read more

Forever Young

In this fast moving world, no one has time for others. People are not even concerned about others’ issues. They are selfish and focus only on the benefits that they need. Due to the advancement in technology, although the world has shrunk and brought people closer, it hasn’t been fully utilized that way. The more people have been brought closer the more they are separated far apart. We don’t even care to know who sits next to us in office. This has become a virtual world. The No-Care attitude has cropped up in us. We have even got to the stage of ignoring our good friends. We don’t have time to participate in our friends’ events. We don’t have time to answer their texts and calls. We have come up with a firewall against the closer world and reduced our communications and relationships. Sympathy, Care, Love, Friendship – these became the qualities of the past. We are only focused on generating income and build our future on that. Thus man, using all of his senses has started to become
Read more

Chennai Floods

2005 - It was the first time since I felt floods in Chennai. I came to Chennai in 1994. Never had seen such rains and flood ever. There had never been floods to such an extent that schools and colleges were declared holidays. Everything functioned normally. I was in Chromepet/Chennai for over 10 years and had a great time there. Monsoons were never so high and there often was water scarcity. I wouldn't say that the infrastructure was better however it wasn't that bad so that we had water logging anywhere. The city was good enough to welcome monsoons and storms/low pressure wasn't that dangerous. It was 2005 when it all started ever since I moved to Mudichur (Kanchipuram district) when I witnessed one of the harmful rains and incessant floods. Water entered our house with the house submerged with 3 ft water inside. In the roads, it was around 5 ft and we had a very difficult time vacating our houses to our relative's house at Tambaram East. Heavy water logging was ever
Read more