Random Musings of a 20-Something

 

Q1. I've just graduated college. What's next for me?

Congratulations on graduating college! That’s wonderful news. In a world where competition is rife, a graduate degree will give you that extra edge. Now you’ve a choice to make. You could begin a job hunt or pursue higher studies. Consider your options and choose wisely. The key is in being productive and to not idle. Here’s another helpful tip. Think about insurance. A policy will be like a failsafe for you. You could work on building a corpus right away.

Q2. Do I apply for an internship first or find a full-fledged job?

No definitive answer can be found for this question. If you feel like you'd like to just tread the waters instead of making a full dive, then an internship would suit you better. A full-time job is a significant commitment, and before you decide to take on full-time employment, make sure you've made the necessary preparations. Either way, both an internship and a job will add greatly to your cache of skills and will be a truly enriching and eye-opening experience. When you find your beginnings in the professional arena, think about putting some money away for a retirement plan. It's never too soon to start saving. Be an early bird.

Q3. What should I do with my first salary?

The initial impulse that you may have, when your salary is credited to your account, will probably be to spend it. However, you would be wise not to do so. It's important to also save a part of your earnings for later. Consider investments like ULIPs. Insurance is a good way to invest and save on taxes. Plus, the younger you are when you get insured, the lower your premiums will be!

Q4. Do I deserve that vacation or a weekend getaway?

It's important that you strike a good work and personal life balance. If you've worked hard for a while now, then you deserve to take a few weeks off. Head out on that holiday with family or friends. However, if you've just started working, and you haven't saved up much yet, think about a weekend getaway for the present, and start saving for a good holiday for later. Insurance can create a fund that you can draw from to finance a vacation.

Q5. How do I thank my loved ones for their support?

For years, your family has cared for you. You can thank them by offering to reimburse an expensive degree they funded, or by contributing towards household expenses. Think about taking out a life insurance policy for yourself, so that if anything were to happen to you, your parents and siblings would be taken care of.

Choosing an insurance plan is simple with all the online and offline resources available to you. HDFC Life offers a number of smart insurance options. Weigh out your selection before you choose an insurance plan, but remember to get insured, so you can live life without a worry!

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