As the new year begins, it has become a trend for different websites to publish articles and ask users to create their
We have created a checklist which can be easily implemented by any earning individual.
My new Year Check list:
- I will create a contingency Fund by making FD or investing in to Liquid Fund up to min 3 months of my Income .
- I will review my Health Insurance & increase it to min Rs.20 Lakh up to Rs. 50 Lakh . (Rs.5.00 Lakh is not enough).
- If I am below 45 & do not have Term Insurance than I am Under Insured . If my age is above 45 & created enough wealth than I do not require any insurance .
- I will stop paying premium for all long term traditional policies maturing after 2020 which will automatically go to paid up mode.
The amount saved has to used to invest in MF to make my journey fast .
- If due to health if I cannot increase my Term or health Insurance at least buy Personal Accident & a hospital cash policy as it doesn’t require any medical test .
- I have opened an NPS account to get additional tax benefit of Rs. 50k over & above Rs.1.50 Lakh.
- I have at least one SIP in each members name in Equity MF.
- As a part of wealth protection whether I have covered my House & office ?
To start your implementation, you can log on to http://fp.orbitfin.com/Login.aspx and create your own account and start implementing.