23-30
Generally, the professional start the right time of the carrier phase in the future. The investment should have a long term is to start the save and investing for retirement. You can start as early in the power of compounding. 31-36 Take the advantage of tax savings other than investments. The contribution is to provident fund by self and employer, which required to cover a life insurance for self and family form in the major portion of 80C. 36-45 The non – investment tax savings will play a major role in tax planning. The repayment of an existing home loan, self contribution and employer to PF, life insurance, Children tuition fees, more than account of 1 lakh under the section of 80C. The interest repayment of home loan under section 24B and health insurance premium for the section 80D. 46-60 The peak earning phase of the professional could try to pay an existing debt and channelize income towards saving for retirement. 60+ After the retirement, the capital protection should be the motto of the investments in the debt. Retired employees were looking for a timely pay out can consider in senior citizen schemes.
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AuthorKervin Kupp Archives
April 2020
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