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How much income should you save or invest?

ROI up to 6.75%* on FD

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How much income should you save or invest?

  • Highlights

  • Increase your savings with age

  • 5% of income as emergency fund

  • Growing savings with wise investments

  • Researching for best investment options

When you first started working, you may have been told to invest as much as you can, out of your monthly salary. ‘How much should you save’ is a question that receives several different answers.

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Some suggest saving at least 10% of your monthly earnings, while others question if it can beat the current inflation rates. However, the right saving strategy varies for every age.

How to plan your investments strategically?

Your investment strategy should be aligned with your goals, so you can make the most of it. Here are some of the best benefits of investing, as per your goals:

- Have enough savings to fulfil your goals
- Plan more, save less, but get more returns
- Enjoy guilt-free expenses from time to time
- Avoid debt, and achieve optimal returns

You can ensure greater savings, with strategic planning. One of the best ways to invest smartly, is to plan your investments as per your age.

Reason to invest in FD

How does your age determine your investments?

Here’s a look at some of the best investment options for every age.

# If you’re between 20 to 30 years of age

Here’s a look at investment options for individuals between 20 to 30 years of age.

# If you’re between 31 to 60 years of age

Check out the best investment options for individuals between 31 to 60 years of age.

# If you’re above 60 years of age

Make sure you invest prudently, and avoid risking your capital. Fixed deposits are one of the best investment options for every age, as they increase the value of your investments.

Where should you invest?

You have a variety of options available at hand, factors influencing your investments are:
- Your needs
- Goals
- Risk appetite
Even though generally equity-based option generates the highest returns, the key here is to create a diverse portfolio. Choose between SIPs, Gold Exchange traded funds, stocks, insurance, mutual funds, fixed deposits or bonds and certificates.

Additional Read: Best Saving Schemes in India

How do you invest better?

Keep a close check on market trends, do proper research while choosing investment options, check for subsequent fees and charges related to them. Decide upon your investment tenor. If you are planning to invest in mutual funds or SIPs, research the fund’s past performance as well as the fund manager’s profile.

What about Tax exemptions?

Investing can also aid in saving TDS under section 80C. You can claim exemption up to Rs.1,50,000 by investing in PPF, EPF, ELSS, life insurance premiums, NSC, ULIPs.

Additional Read: All You Need To Know About Income Tax In India

So, keep an eye on your earnings and savings to ensure a bright future for yourself.

DISCLAIMER: The mentioned fixed deposit interest rates are indicative only, and may be subject to change periodically. Please check the interest rates on our website.

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