Re: 100 tips to help you SAVE Thanks for the wonderful great tips. It has covered almost nuke and corner of our daily activites where we spend in our daily life. Few tips like buying a car, saving fuel, groceries was really amazing. Thanks once again.
Re: How much to save for kids??? (plan for school& college) Vidya, Gold bonds/ETFs are also a good option(other than the great suggestions listed above). That way you don't have to worry about buying gold biscuits and taking care of it. I did talk to a financial consultant before relocating to India to plan for our retirement/DD's college(US - She can choose to study in India but I wanted to have the funds available for her if she chose to go back for her undergrad/PG). I looked at 529 plans as well. I ended up not investing in 529 because I was not sure if DD will pursue her education in the US or elsewhere. We've diversified our portfolio between US/India and in various types of investment vehicles. The one issue I saw with investing in India while living in the US was restriction on the types of funds to invest in(esp for US citizens). Once I moved back and established residency some of those issues were resolved. Btw, we had a financial consultant through out(he himself relocated from US to India and knew of tax laws and other things). Like others suggested, it would be a good idea to meet a consultant and plan out retirement costs, college costs etc and then work towards setting financial goals and meeting them in the coming yrs. **Added - Consultants will generally diversify among stocks/bonds/insurance/real estate etc etc. If you plan to meet one, make sure you mention all your goals in three categories - 1) Short term goals(maybe a home, vehicle etc) 2) Medium term goals(might be a second home or something else) 3) Long term goals(kids education/retirement) 4) EMERGENCY (I put medical expenses and parents medical expenses in this one). Also I forgot to mention insurances. They are good investment vehicles as well. There are a variety to choose from. Good luck. L
Re: How much to save for kids??? (plan for school& college) Laks Dear Thanks alot....this was really good information....thank you for sharing! I vaguely have idea on our goals but have to again brainstorm to finalize the list.
Re: How much to save for kids??? (plan for school& college) Srividya - it took us a good three months to even come close to a list! I just brought it up because sometimes we get carried away by kids education we forget about other things we have to plan for. Good luck planning and executing! Glad I had some information for you.
Good investing plan should give short term, medium term and long term return. Do concentrate on short-term returns too(monthly return plans)
Re: Have a goal for savings hai rohini i think taking loan is risk also .if something happens to job we have to find some alternatives to payback loan isn't it? Sana
