Investment opportunity for lower income groups

Q & A Forum › Category: Financial Planning › Investment opportunity for lower income groups

Vishal2050 asked 8 years ago

Dear Sir, It is always advisable to start investment as early as possible.(Term plan, Health Insurance, Mutual fund, etc) But I would like to know about the people whose income is say within the Rs15000 to 20000 per month. With the rise in inflation, and to incur day to expenses, this group is left with a little portion to invest. Could you please suggest where they could park their fund Regards Neeraj Kumar Agarwal

1 Answers

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Sreekanth Staff answered 8 years ago

Dear Neeraj, Very good question! Kindly note that buying a Term plan, personal accident cover or medical insurance cover are not investments. These are expenses and are a must for most of the earning individuals (low or high income groups). If one has a low disposable income, he/she has to madatorily look at INSURANCE PLANING first and then plan for long term goals (accumulation). Suggest you to go through below articles and may revert to me with more queries ; https://www.relakhs.com/financial-planning-pyramid-wealth-protection-accumulation-distribution/ https://www.relakhs.com/empower-domestic-help-domestic-workers/

Vishal2050 replied 8 years ago

Sir,
I read your article on “How to empower your Domestic help (Domestic Workers) Financially”. It’s just awesome and shows your deep knowledge and commitment.
Further to that could you please suggest if a person(30 years age) with no liability, living in a rented house earning Rs 20,000 per month how should he allocate his income into following :
Expenses(I understand it varies from person to person)
Life Insurance(Term Plan)
Health Insurance
Mutual Fund SIP
I understand that scenario varies from person to person but still if you could suggest

Thanks!!

Regards
Neeraj Kumar Agarwal

Vishal2050 replied 8 years ago

Thanks!!

Regards
Neeraj Kumar Agarwal