If you ask a 50-something urban Indian what his life’s five biggest regrets are, you are sure to hear this:
I wish I had started investing and saving earlier in life
The regret may not be because their wealth is insufficient, but it is because they realize how much vaster their corpus could have been had they started investing when they had little or no liabilities.
It’s ironical that people start investing and saving once they are burdened with liabilities and high outgoing expenses.
Many have the incorrect impression that once they start investing, they will have to continue for 20+ years. While that is true of traditional investment options, what if we told you that there is an investment instrument out there that allows you to invest for a short period (as low as 5 years!) and then stop investing when your young family demands the lion’s share of your income. The money that you have invested keeps growing steadily and at maturity, you receive a lump sum that can be used for important milestones like a child’s education, that much-needed vacation, or to buy a new car.
The benefits of short-term plans are as follows:
- Let’s you make hay while the sun shines, because you can customize when you want to stop payments and when you want the vesting period to end
- They are great goal-oriented investments
- Tax benefits
So, let’s not be like the 50-something urban Indian who is looking at their investment behavior with regret later in life. Short-term plans are ideal for you if your current expenses are less and savings are more AND if you are sure that your expenses will increase in the years to come.
With OneInsure, Make Hay while the Sun Shines
Be Sure with OneInsure
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