Investment

How to save your money?

total reads

1,239

total reads
1,239

Most individuals underestimate the importance of regular and steady income until they run headlong into a crisis, such as an accident, an illness, a job loss or just plain retirement. It’s only then that the importance of preserving one’s earnings gets the attention it deserves.​

To be sure, safeguarding one’s earnings needs to be high on one’s priority list. All it takes is one disaster to wipe away a considerable portion of one’s hard earned money. This is why one needs to prepare for untimely events to safeguard the finances of the family.

  • Take insurance to cover contingencies

To insulate your earnings from unforeseen events and contingencies, consider an insurance plan that includes protection against accidents, illness and death. There are several protection plans and savings and investment plans, both in the traditional and market-linked segments, which achieve this effectively.

  • Rein in inflation

    Disasters apart, inflation is the single most underrated destroyer of financial value – a silent killer of sorts. Investors must take deliberate action to counter the eroding effects of inflation by opting for a savings and investment plan that has a fair share of assets like equities that counter inflation effectively.

  • Plan for retirement

    Planning for retirement by way of pension plans, among other avenues, provides income protection in the later years. Younger individuals who opt for pension get in the habit of setting aside income in their earning years and thereby preserve their income from erosion and wasteful expenditure.

 

Similar Articles

Featured Articles
Popular Posts

Products offered by HDFC Life :

HOW CAN WE HELP YOU

HELP TO BUY ONLINE
Call us

All days 10 AM to 7 PM

Let us call you
Call Us

Mon-Sat 9:30 A.M to 6:30 P.M

Locate A Branch Near You
Call Us

Mon-Sat 10 am to 7 pm(Local Charges Applicable.) (DO NOT prefix any country code e.g. +91 or 00.)

Email
nriservice@hdfclife.com

(For NRI customer only)

08000006607 for premium amount
08000006608 for premium amount with due date
08000006609 for fund value (Applicable for Unit Linked Plans only)
Stay updated with HDFC Life