Pradeep Singh, 42, lives in Ghaziabad near Delhi. He is a marketing professional. His wife, Rupashree Mitra, 41, is also working. They have two daughters, aged 12 and 9. Their combined monthly salary is Rs 2.05 lakh. Here is what they need to do to fulfil their life goals, which include a comfortable life after retirement.
RISK PLANNING
Contingency fund: The couple is advised to build a contingency fund equal to at least three months' expenses. They have a fixed deposit of Rs 3 lakh. They are advised to use the first three months' surplus to build the fund.
The money saved should be invested in an ultra short term fund. It should not to be used for any other purpose. The key to success is discipline.
