DOB: Dec 21 1983; Profession: Service - Middle Management; Gross Monthly Income: Rs 1,14,000. Any general rule for investing?
Ans: Follow 5:15:50 rule, that is, Invest in short Term Debt 5% of monthly salary for emergency fund, 15% of the monthly salary to be invested in Equity / Hybrid for Retirement corpus, not more than 50% should be living expense.
Remaining 30% of Monthly Salary can be used for creating corpus for Children Career and marriage, House, Vehicle, Holidays, Early Retirement ..