wE ARE Working in unorganised sector earning Rs. 10,000/- P.M. now it is very difficult to manage a family with this small amount, so we donot think for savings. If a low premium is allowed to us we can manage our family and savings and get something after retirement. At present we donot think about our future. Please advise it will be helpful for us in our future.
Re: LOWER INCOME PLAIN
by LAD ENTERPRISES on Oct 08, 2012 02:44 PM
Debasish
For people in tight and difficult situations like yours (majority fall in that category) 1. keep your non-essential spending to bare minimum 2. Invest in good Bank and corporate fixed deposits. 2. Reinvest in Recurring deposits. 4. Invest in land
I am aware it is easy to advise and difficult to follow. But there is no other way. Hope this helps.
Re: Re: LOWER INCOME PLAIN
by Dams on Oct 08, 2012 03:33 PM
1.Try to invest small amount in Children Education plan.. May be that may reduce your load for their higher studies. 2. Be in constant search for better opportunites for income gain 3. Gambling in Land & house can help but it is risky..do it only if u can maintain some liquidity
Re: LOWER INCOME PLAIN
by Pramod Dhabu on Oct 09, 2012 09:45 AM
As far as expenses are concerned, Health, Education and Nutrition are the ones which can not be compromized. Rest all can be cut to bare minimum or nil. Remember nowadays in capitalist society money is very precious resource like time. So neverever splurge even a single rupee on unnecessary things like trendy mobiles, outings, Big house in post area or big city, parties, AC travels, movies, cricket matches to name a few. Due to urban/sedentary lifestyles health issues are sure to come as age progresses. So keep yourself fit to be economically productive and avoid costly medical expenses. Medical science treats diseases but damage done to physical fitness doesn't come back. For health focus on Physical activity, daily food, sound sleep. Spend free time with family and children so that family bonding remains strong which altimately gives peace to you which makes you productive. If you focus like this surely you may save some amount for retirement
Re: Re: LOWER INCOME PLAIN
by sneha on Oct 10, 2012 10:21 PM
The income tax collected by the govt. of India is in the same percentage/ratio from govt. as well as private sector employees. Then why the differentiation in pension, govt. servants getting inflation linked pension ie. a good amount of Rs.15,000/- per month while private sector retired personnel getting a paltry amount of Rs.1,500/-. "Is it not fooling the people in the name of pension"
Good article, but we want common facilities to all citizens to all retired people at least for pension and medical. Only govt. servants are guaranteed for inflation indexed pension and medical till death, why not all or rule must be amended common to all for govt. servants too i.e. EPF only no pension and retiral. Preferential treatment not acceptable and huge burden on tax payers.
