1. Prepay all outstanding loans to eliminate any interest burden, and clear all dues to remain debt-free.
2. Maintain an emergency fund of 1 year living expenses in a sweep-in savings-cum-deposit account.
3. Save in FDs, RDs and SCSS, up to 50,000 tax-free interest income annually u/s 80TTB.
4. Invest the balance corpus in 1/2 Hybrid Aggressive / Multicap funds for growth generation, and also for hospitalization expenses in absence of a health insurance plan.
5. Invest in 3-year lock-in ELSS, for tax-saving need if any.
2. Maintain an emergency fund of 1 year living expenses in a sweep-in savings-cum-deposit account.
3. Save in FDs, RDs and SCSS, up to 50,000 tax-free interest income annually u/s 80TTB.
4. Invest the balance corpus in 1/2 Hybrid Aggressive / Multicap funds for growth generation, and also for hospitalization expenses in absence of a health insurance plan.
5. Invest in 3-year lock-in ELSS, for tax-saving need if any.