Vinayak SavanurRekha sat down on the sofa, exhausted. She had finally put her daughters, Shikha (2 years old) and Sudha (6 years old) to bed. Ever since she lost her husband, Sunil, last year, she had been struggling with finances to sustain the family. Rekha took up small assignments in her spare time earn a little. Sunil was 35 years old when he expired. Although Sunil had made some investments in the stock markets, his hospitalisation had depleted all their investments. Unfortunately, he had left Rekha and the daughters with no financial support. Although Sunil had good earnings, he had failed to purchase insurance or create an emergency fund to protect his wife and children.Sunil and Rekha’s story is a typical example of missing out on 3 critical steps every family must take to achieve financial security before starting their investment journey.Close Create an Emergency Fund related news How much money do you really need to be financially independent? No TPA? Soon, you may be following up on a health insurance claim directly with the insurer When COVID-19 vaccines become available, will your health policy pay for them? An emergency fund implies creating a kitty that is easily accessible in… Read full this story
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