An emergency fund implies creating a kitty that is easily accessible in case of a health-related emergency such as hospitalisation, dental procedure, etc. or any other contingency such as a job loss. The amount allocated towards emergencies should be sufficient to tide over a cash crunch and deal with contingencies. It’s advisable to allocate about 3-6 months’ salary/ income for emergencies. If you are single, you could allocate a lower amount (three month’s income); if you are married, you must allocate a higher amount (six months’ income if married without children; 12 months’ income if married with children). Invest your contingency funds in liquid investments (which can be easily and quickly encashed when an emergency arises). Suitable investment avenues are savings account, flexi fixed deposits, liquid mutual funds, etc. Investing these amounts would ensure that they earn some returns till they are needed. … [Read more...] about 3 critical steps to take before you start investing
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The term ‘financial independence’ simply means that you have sufficient savings to live your life as you please. To some, it simply means retirement from work at the age of 58 and spending time with their families. For a few others, it is about pursuing their passions, without having to worry about the money. So, it can be time spent with NGOs or chasing a hobby, or even converting a hobby to a profession. Still others may want to continue working, but on their own terms. … [Read more...] about How much money do you really need to be financially independent?
After a series of disappointing IPOs last year culminated with a humiliating implosion at WeWork—which never actually made it to the public markets—2020 has seen a surprising resurgence of tech-oriented offerings. Insurance sales platform Lemonade and marketing data firm Zoominfo are among a handful of newly public companies that have attracted investor interest in recent months. … [Read more...] about Report: Airbnb’s highly anticipated IPO could still happen in 2020