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A person can save, regardless of
income. It's only a matter of
choice.
Start investing early because income
generated by Compound Interest
increases with time.
One needs to do away with loans and
focus on meeting expenses and saving for
the future.
Choose the mortgage which will provide tax
concessions along with convenient
installments for repayment.
Keep at least three times of one’s
monthly income in liquid assets as
emergency fund.
Planning for retirement, for the time you
cannot work because of injury or illness, or
developing a contingency plan in th...
Source Link- http://blog.hdfclife.com/wealth-creation-with-insurance-part-1-532340
HDFC Standard Life Insurance Company Li...
6 principles of wealth creation
6 principles of wealth creation
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6 principles of wealth creation

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Here you know the basic principles that are responsible for creating wealth.

Published in: Economy & Finance
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6 principles of wealth creation

  1. 1. A person can save, regardless of income. It's only a matter of choice.
  2. 2. Start investing early because income generated by Compound Interest increases with time.
  3. 3. One needs to do away with loans and focus on meeting expenses and saving for the future.
  4. 4. Choose the mortgage which will provide tax concessions along with convenient installments for repayment.
  5. 5. Keep at least three times of one’s monthly income in liquid assets as emergency fund.
  6. 6. Planning for retirement, for the time you cannot work because of injury or illness, or developing a contingency plan in the event of the death of your principal breadwinner makes sense, and so does starting early rather than late to save for the future. Many people, however, put off financial planning, sometimes until it is too late.
  7. 7. Source Link- http://blog.hdfclife.com/wealth-creation-with-insurance-part-1-532340 HDFC Standard Life Insurance Company Limited. In partnership with Standard Life Plc. CIN: U99999MH2000PLC128245, IRDAI Reg. No. 101. Registered Office: HDFC Standard Life Insurance Company Limited, Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: buyonline@HDFCLife.com, Tel No: 1800-266-9777 (9 am to 9 pm). For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale. "The name/letters "HDFC" in the name/logo of the Company belongs to Housing Development Finance Corporation Limited and is used by HDFC Life under a license/agreement. ARN:MC/04/2016/7808 BEWARE OF SPURIOUS PHONE CALLS AND FICTITIOUS/FRAUDULENT OFFERS IRDAI clarifies to public that • IRDAI or its officials do not involve in activities like sale of any kind of insurance or financial products nor invest premiums. • IRDAI does not announce any bonus. • Public receiving such phone calls are requested to lodge a police complaint along with details of phone call, number.

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