Middle-class Indian family needs advise,which is completely different than the affluent Investors.
Middle-class families has been hit sometimes by job cuts, too much on inflation side, as the housing prices are too high in India, Rent is getting more costlier, basic lifestyle is even getting costlier as inflation is over 9%, day to day things are getting costlier which are need based. High food inflation, Electricity Prices getting high day by day, Petrol prices are higher, auto rickshaw fare, vegetables and so on.....for them......list never ends...
Middle class families hardly have Pension Plans; they have to figure out the saving for retirement, they hardly gets money for his requirement of leisure.
Middle-class income families can’t afford to do mistakes at all, as very little money they have at the end of the month/year for savings for their financial goal, almost two-third of middle class suffer for retirement planning. lots of excel sheets / planning material / books / audio / everything is available online now a days (thanks to technology) but...,
“Technology cannot replace Financial Advisor”
5 Steps for Financial Freedom for Middle-class Family.
1. Insure Yourself & Family
2. Get out of Debt / Eliminate your bad debt
3. Start saving – sometime little savings is enough to start
4. Invest in what you understand
5. Diversify your investment across Gold, Equity, Debt, Real Estate, and Country specific.
- Manan Mankad
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