I wanted to brief about the most important things that should be taken care of before starting the wonderful journey of investing and compounding. There will be hard times in all of our life and we should be prepared to it mentally and FINANCIALLY!!. I can’t stress more on the word financially because I have seen people going broke just because they haven’t taken care of the basics. Let’s dive into the details.
EMERGENCY FUNDS
At the time of emergency, you should never be pushed to a situation where you need to sell your stocks or funds. So it is a must to have emergency funds. I have written about emergency funds in details. Click the below to read more
HEALTH INSURANCE
Health insurance is a must to protect your investments incase anything goes beyond your control. Having enough health insurance will give you a peace of mind during tough times. Read the below article to know more.
TERM INSURANCE
Term insurance will financially protect your family incase of your untimely demise. Term insurance can take care of the pending loans (Ex. house loan, car loan,etc) and the invested stocks or funds need not be sold to clear the loans. Read the below article to know more about it.
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