My Comment on an article "How to meet your life's financial goals & retire happily" published in the economictimes.com Dated 25/11/2015 at 10:40 am.
"Very useful article. It deals with many financial goals of life like marriage, having children, buying a house,retirement plans, starting a business and many related issues.
The author clearly detailed all possibilities and risks involved in each case with examples. It is a good guidance for all "
To buy a house, one should first save at least 20% for making down payment. So, save that much money in 2 or 3 years and then consider purchasing house. EMI should be not more than 50% of income. You should plan accordingly.
Possessing family requires similar planning. Your expenses will double or triple. So, you should be well prepared for it by increasing income and keeping an emergency fund in stock for meeting at least 6 months expenses and delivery expenses and you have to bear the expenses for child education for 21 years. All these require attention.
"Very useful article. It deals with many financial goals of life like marriage, having children, buying a house,retirement plans, starting a business and many related issues.
The author clearly detailed all possibilities and risks involved in each case with examples. It is a good guidance for all "
To buy a house, one should first save at least 20% for making down payment. So, save that much money in 2 or 3 years and then consider purchasing house. EMI should be not more than 50% of income. You should plan accordingly.
Possessing family requires similar planning. Your expenses will double or triple. So, you should be well prepared for it by increasing income and keeping an emergency fund in stock for meeting at least 6 months expenses and delivery expenses and you have to bear the expenses for child education for 21 years. All these require attention.
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