This is a 5 question quiz to give you an idea about Income Planning.

1. Do I need to Plan My Income? the answer is “ it depends”  . Lets take a quick 5 question quiz to figure out if you are already planning your income

2. Question 1 Do you think investments are just a means to save tax or do you plan your investments around lifestyle goals ?

3. Always plan your investments around your lifestyle goals Tax saving* will be taken care when you select the appropriate financial product to meet your lifestyle goals * Every year between January to March, owing to a last minute dash to save tax, a lot of investors end up selecting products which do not cater to their goals .

4. Question 2 Do you think investments are risky , and prefer to let your money remain safe in your bank accounts?

5. Don’t let your money stagnate in a bank account* , there are numerous investments options which will give you safety as well as returns when compared to a savings account. Create an appropriate asset allocation mix suiting your needs. * As a thumb rule you should leave 3-6 times your monthly expense as an emergency fund in your bank account. All the remaining money should be invested or earmarked for immediate goals.

6. Question 3 Do you make a regular monthly contribution towards your retirement fund (this is different from your PF) or do you believe that you are too young to plan for retirement?

7. You should create a dedicated retirement fund. If you are 25 years old, and you start putting away 52 Rs/Day you can become a Crorepati when you retire! Assumption: The rate of return used is 12% per annum Your Age Today Monthly investment you need to make to become a Crorepati by the time you retire at the age of 60 20 842 25 1540 Rs./month or 52 Rs/Day 30 2833 35 5270 40 10009 45 19819 50 43041 55 121232

8. Question 4 Do you take time out to evaluate various financial products or is your decision influenced by the marketing campaigns?

9. Don’t just rely on the marketing or sales teams of companies, you should do your own research before you finalize any product. If you are running short of time or are unable to understand the nuances, then take advice from an advisor who will give you unbiased advice, ideally someone who doesn’t gain from the sales of the products recommended

10. Question 5 Do you buy life insurance policies for the purpose of investment ?

11. Insurance & Investments should never be confused. Both are different needs, and ideally should be catered to by two different sets of products. Hybrid products which provide both insurance and investment will tend to be sub optimal.

12. 60% of the people who took the quiz knew at least 3 answers, but only 5% created & implemented their plans. The rest succumbed to procrastination. With our plans starting at Rs.15/day , you might want to give us a chance  How many did you answer correctly?

13. Thanks for your time! Have a great day, and Happy Income Planning! If you liked this presentation, do share it with your friends  If you want to plan your income write to [email_address]