JNUite, reader, explorer and writer with economics backgroun
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Financial Independence • 735 • 2
Well, we are still hovering in the mood of Thanksgiving and we are sure many of you have geared up on new changes in life.
Have you considered anything on financial independence front? With festivity spree being prominent in the air and whole lot of positivity around, time to set yourself up for some financial independence.
1. Take a journal this season and start right now
2. Mark your age and the journey starts from here
3. List down your current assets and liabilities
4. Start with savings of a fixed percentage of your income
5. Get atleast one Life insurance and Health insurance and get sorted
6. If you have no investments at all, stash away some part of your income into FD and/or Public Provident Fund. Even if the returns are not very lucrative as compared to MFs and stocks, they are stable and secured. You get guaranteed returns.
7. Next is to start with some risky, yet profitable investment ventures like Equities, SIP and Mutual Funds. This is only if you are up for it. Make sure you hire a professional to assist here or read up well about these before investing.
8. Do you not have much of assets, but yearn for these? start saving for it little by little from today and you will make great funds for car, property, jewellery or any of that sort soon.
9. Start with atleast one parallel stream of income – This is the most critical part of financial independence.
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