Are we into bull markets?
Wishing you a very happy & peaceful new year and a prosperous new decade to come. May this journey brings you to your financial goals and financial independence. Usually all of us, knowingly or unknowingly end up making new year resolutions. This new year start by asking these questions. These questions help you to be in right direction towards your financial independence.
1. Am I saving at least 25% of annual income?
2. Do I have at least 15 months of expenses amount as emergency funds?
3. Am I paying off credit card payments completely on time?
4. Do I have sufficient health cover?
5. Is my life insurance coverage equal to at least ten times my annual income?
6. Do I have a budget for expenses?
7. Have I followed the budget or exceeded the budgets last year?
8. Have my life goals changed?
9. Are nominations done for all my investments? Does my family or nominee know where investment & insurance documents are?
10. Are you confident that your investments are in the right asset allocation?
*If you have answered No to more than 5 questions, you require immediate financial health checkup to be done.
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