Note: This is a post that contains bad language. If you’re someone who balks at the F-Word stop reading right here. I have often advocated that you need things in three buckets mainly: 1) An emergency fund with six months of expenses 2) A fund for your children’s education – my calculations say this needs about Rs. 10,000 per month per child, and more if you didn’t start about eight months before birth. This is so you don’t feel like decaying toxic sewage because you can’t find a way to pay for your kids’ schooling. 3) A fund for your retirement, which changes according to how much money you have and how many years to retirement. (Rough calculation: Start with Rs. 5 lakh, and put 20K per month, increase by 10% every year, for 20 years and you’ll have Rs. 4.4 crores at a 12% annualized return) And yes, IN THAT ORDER .… (Read On…)
[via Capital Mind]
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