7 Ways to Become a Crorepati

By SiliconIndia   |   Monday, November 26, 2012   |    1 Comments
Print Print Email Email

Bangalore: What are your financial goals? Is it saving huge sum of money for buying a car, a house or for building a retirement nest? You can achieve all your financial goals if you follow a disciplined pattern of saving money. You can easily save Rs.1 crore in 15 years by opting for any one of the saving or investment cum saving instrument mentioned below. And how much you need to put away every month will depend on the option you choose, as reported by Babar Zaidi, ET Bureau.

More: 10 Best Investment Advisory Firms in India

1. Life Insurance Policies

Monthly savings required: Rs.34,386

Returns: 6 Percent

Advantage: At the time of your policy maturity, when you receive the sum assured, the amount will not be taxed. It is reasonably a safe investment option. You also get tax deduction besides getting a life risk cover.

Disadvantage: It offers a very low return compared to other options. Returns could be higher if you opt for a longer tenure.

Keep in Mind: you won't get any tax benefit, if your policy does not provide you a cover of 10 times the annual premium.

Also Read: 8 Websites for Hassle-Free Insurance

Write your comment now
Submit Reset
Reader's comments(1)
1: good nice work
Posted by:tanya - 20 Dec, 2012
Looking For Loan? Let us Help you !!!
Loan Amount
Annual Income
Preferred banks
Type the characters you see in the picture
Sign Up for DailyDose and Read the Day's Highlights
Social Media
SiliconIndia About Us   |   Contact Us   |   Help   |   Community rules   |   Advertise with us   |   Sitemap   |  
News:       Technology   |   Enterprise   |   Gadgets   |   Startups   |   Finance   |   Business   |   Career   |   Magazine  |   Newsletter   |   News archive  
Cities:        CEO   |     Startup   |   Mobile   |   CIO   |   Women   |   BI   |   HR   |   SME   |   Cloud   |   Marketing   |   QA   |   Java   |   Web Developer  
Community:      Members   |   Blogs   |   Indian Entrepreneurs   |   Gyan   |   Advice   |   Community   |   Find   |   CXO Insights  
Job Board:      Jobs   |   Freshers   |   Companies   |   HR Speak   |   Forum  
Online Courses:   Web Developer   |   Java Developer   |   CCNA Training   |   SEO   |   SAS   |   SQL Server 2005   |   J2EE
Education:   MBA   |   MCA   |   Engineering   |   Training Institute
Life:          Real Estate   |   Travel   |   Finance   |   Gadgets   |   Movie Reviews   |    Jokes  
Send your feedback and help us continue to improve SiliconIndia
© 2015 InfoConnect Web Technologies India Pvt Ltd. all rights reserved