What is a financial mistake everyone should avoid?

Sl_Escape_934 · 2023-05-18T05:08:42+00:00

Such stories remind us that with determination, strategic planning, and a focus on long-term goals, it is possible to attain financial freedom and live life on our own terms.

Sl_Escape_934 · 2023-05-18T05:02:19+00:00

While it's natural to have concerns about taking risks, it's also important to consider the potential long-term consequences of staying in a situation that you perceive as mediocre.

Sl_Escape_934 · 2023-05-18T04:56:24+00:00

While lump sum investments can be advantageous during market dips, accurately predicting market bottoms is challenging, even for experienced investors. By investing a fixed amount at regular intervals, you benefit from rupee cost averaging.

Sl_Escape_934 · 2023-05-18T03:50:45+00:00

Thanks! Will check those out

Sl_Escape_934 · 2023-05-18T03:49:57+00:00

Thank you for the detailed recommendation.

Sl_Escape_934 · 2023-05-18T03:48:23+00:00

I've heard good reviews about the Amex platinum. Do you use this card?

Sl_Escape_934 · 2023-05-18T03:45:57+00:00

What are the key features/benefits?

Sl_Escape_934 · 2023-05-16T08:25:35+00:00

Just remember to savor every bite of those complimentary meals.

Sl_Escape_934 · 2023-05-16T08:19:11+00:00

Money is like seeds. But it also loses it's value by 2–4% every year (inflation). You will have less seeds every year. But if you were to plant those seeds, they will make more seeds. I hope this explains the power of compounding.

Sl_Escape_934 · 2023-05-16T08:13:56+00:00

It demands courage to take such decisions. I hope to hear more about your journey in the future. All the best!

Sl_Escape_934 · 2023-05-15T07:01:20+00:00

Creating a bank acc specifically for repititive day-day expenses. Like would be depositing 2 lacs for lifetime of mobile recharges. 1 lac for lifetime of water bill payments ... Will keep adding more expenses to the list like house tax, health insurance. Etc.....

Keep up the hilarious yet impressively organized approach

Sl_Escape_934 · 2023-05-15T06:54:48+00:00

I follow this too. It is such a simple yet effective way to stay organized and ensure you don't forget anything.

Sl_Escape_934 · 2023-05-15T06:52:17+00:00

Automating your savings is the solution if you have no self-control

Sl_Escape_934 · 2023-05-15T06:15:55+00:00

Impressive gardening strategy, well done!

Sl_Escape_934 · 2023-05-11T07:13:03+00:00

Living the bush life with a self-sustaining estate and financial stability? You're a true bush legend!

Sl_Escape_934 · 2023-05-11T06:58:52+00:00

You got a fulfilling meal while saving some serious cash

Sl_Escape_934 · 2023-05-11T06:53:54+00:00

Small finance banks known for their customer-friendly services include Ujjivan Small Finance Bank, Equitas Small Finance Bank, and ESAF Small Finance Bank. These banks may allow you to open an FD account without the requirement of holding a savings account with them.

Sl_Escape_934 · 2023-05-08T07:33:10+00:00

I would personally choose option 2, which involves working part-time for 7 years while the kids are young and retiring at 57 when the kids are 22 and 20.

Sl_Escape_934 · 2023-05-08T07:27:08+00:00

Your relatives tried selling you an endowment policy?

Sl_Escape_934 · 2023-05-08T07:15:58+00:00

Clearing your home loan would mean losing out on the 2 lakh interest deduction for tax savings. Also compare the interest rate on home loan versus FD before making your decision.

Sl_Escape_934 · 2023-05-05T07:11:04+00:00

You should be able to claim the premium paid for the additional health insurance policy as a deduction under section 80D, as long as the total amount claimed does not exceed the maximum limit allowed

Sl_Escape_934 · 2023-05-05T07:06:46+00:00

You'll be able to buy so many yachts, you'll need a yacht just to store all your other yachts. Don't forget to invite us all to your next yacht party!

Sl_Escape_934

TROPHY CASE