anupkuumar5
KF Ace
Financial freedom is a journey that unfolds step by step. Begin by ensuring you’re financially secure for the next 6 months by building an emergency fund equal to six months of your salary. Keep this fund in a liquid mutual fund, which not only provides quick access in emergencies but also generates returns—enough to cover essentials like your term plan and health insurance premiums.
Once your emergency fund is in place, focus on saving for short-term needs that may arise in the next 5 years. A hybrid fund is a smart choice for this, as it balances risk and return, offering stability with decent growth. With this fund, you can confidently meet medium-term expenses without financial stress.
By completing these two steps, you’re setting a solid foundation and freeing yourself from financial worries for the next 5 years. Only then should you turn your focus to achieving lifetime financial freedom by investing in high-risk, high-return assets for long-term goals.
Having sufficient funds for short-term needs gives you the mental strength to weather market volatility and stay focused on your bigger dreams.
Once your emergency fund is in place, focus on saving for short-term needs that may arise in the next 5 years. A hybrid fund is a smart choice for this, as it balances risk and return, offering stability with decent growth. With this fund, you can confidently meet medium-term expenses without financial stress.
By completing these two steps, you’re setting a solid foundation and freeing yourself from financial worries for the next 5 years. Only then should you turn your focus to achieving lifetime financial freedom by investing in high-risk, high-return assets for long-term goals.
Having sufficient funds for short-term needs gives you the mental strength to weather market volatility and stay focused on your bigger dreams.
