Got married ..? Now Plan your Finances..

 


    Marriage is the happiest event in each one's life. But that is not the end; instead it is a beginning of a long journey. This is the time where one needs to foresee responsibilities with financial planning.

To help start the process, ask yourself these questions - 


Typical goals will be -

Stage -I



Stage - II



 Guidelines  to achieve..

                  1. Add Nominee to all existing financial instruments like Bank accounts  Investments etc

                  2.Get adequate Life & Medical  Insurance for you & your spouse.

                  3. Do the Tax Planning. ELSS MFs are the best options for Tax saving.

                  4. Refer to our Blog Sowing the MoneyPlant for percentage asset allocations to  each class.

                  5. At this stage, more than 50% should be in Equity or Equity oriented instruments like Mutual  Funds or create your own Stock Portfolio.

                  6. The total earning after tax should be balanced between NEEDS & WANTS. Creating  more investible surplus & selection of right investment instrument will give   you comfort.

                  7. Do not hesitate to take help of experts in relevant fields like Insurance  Mutual Fund Advisor, Stock Market experts etc.

                  8. This Financial Plan: Create - Execute - Rebalance if required.

 

All the best!!

                   



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