#C27623 32M, recently married, working in IT. My wife is not working currently. We are planning to have 1 child within the next year, considering job commitments, inflation, and increasing living costs. Currently, I have no loans, but very little savings as I spent most of my money on travel in previous years. Looking for advice on: How should I plan my finances from now? How much should I invest in stocks, US stocks, crypto, and real estate? Which health insurance and term insurance are best with a good claim record? Should I buy a flat now with a home loan or focus on savings/investments first? What should be my priorities for the next 5–10 years considering family planning and wealth creation?
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💬 Comments (25)
Jaha CTC relevant hota h to vaha CTC likhte nahi ho, Jaha CTC relevant nahi hota h semx-sux affairs wale posts me thik 70-70 lakhs mentioned hota h 😕😕
EMI is a big monthly headache so better stay in a rented house 1 bhk is more than enough for a young couple. Save minimum 20 to 30% of your income. Stocks are highly volatile so better start SIP with a step up. Some saving should be always in your bank account so that money is available whenever needed. Use less of Credit card..but if you don't use. ( While spending it's easy but later it comes heavily to your monthly budget) Take health Insurance..it's a must Take term insurance as now you have a responsibility. Term plan with rider policy would be good. Every penny you invest will grow with time ..so be consistent with the savings. As you are recently married...so do go out for some relaxation and other recreation ...try to save some from the household expenses.
U should have asked all this question before your marriage itself.. 😂
Plan Delivery in a hospital where it will be fully covered by your insurance policy. Do not overspend. It will not change the outcome.
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Pls plan to buy one flat or villa or worst case buy at least 650 sq ft of plot. You can't buy this after 10 yrs. Land is limited resource. Then you can invest on Stocks (start with index mutual funds, ETFs), parallely arrange 12 months of emergency fund (this is very very important as you have only single income source for your family) Term and health insurance is also a must. Once u r done with this, then go ahead on US Stocks / Crypto and all. Keep this at the end. If possible, get financial help from your spouse. Even if it is very small amount thru any home based jobs, it would be helpful for u in the future.
If you planning for a child and your wife is not working , biggest expense would be Child education and medical expenses ...
Don’t go for any loans! If you have your own house you shouldn’t take decisions to buy flat. Buy gold, invest in lands, don’t go for shitty advices to buy stocks, trading, crypto until you have knowledge in that. Market is very unstable you will bear losses. I am writing this from my personal experiences. Once you get into loans your life becomes hell. Take small EMIs to buy necessary stuffs that will keep your cibil good and small EMIs will not bother you much.
60%spending, 40% saving (30% equity 10%debt) forget usa. India has vast market and bright future.
The best investment one could make in next 5 years is real estate but you haven’t mentioned your ctc without which it’s difficult to suggest anything
You should have invested 2 cr in everything an your total wealth should be around 10 crores in the next 4-5 years
Additional 30K expenditure per month for child in।case wife is housewife else additional 50K expenditure
be on rent .....and hve term plan.....choose mf over stocks ......save litlle so that it become huge.....and have one medical policy
Take mediclaim of approx 10 lack , term insurance according to eligible from ur ctc,invest 50% of ur saving in mutual fund, gold and in good stocks for long term, if u r not planning ur own flat in 1-2 years then u will unable to buy it coz after some year u can't take decision to buy it, control ur expenses otherwise u will regret
Start investing a small amount in SIP's, dnt go for a house loan immeditaely as it will take away a major portion of your salary...if your rent is close to the EMI that you will be paying on home loan then home loan is advisable...invest in gold or real estate or FD's
As if have guarantee that u gna live the next 5-10 years Stick with no loans bec if u die that loan ur family has to still pay Rent Kids god will provide Stock can either go up or come crashing down Keep fit eat health an u dnt need health insurance
Hire a Financial advisor
Indian Fertility rate is going down. Some single man/woman or a single parent is already working, donating and paying taxes for your child. Have two kids - In the age of materialistic relationships it will help.
Hazaribagh se ho??
इतना मत सोच भाई ,सब हो जाएगा बच्चा कर।
I can provide help in your financial planning. Pls contact separately.
Real estate is the best investment. DM me. I could help you understand.
I can provide financial planning. You can contact me separately.
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