How To Save & Invest Money as Couple | Money Management Tips for Married Couple 2023
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Investing as a couple can turn out to be powerful ways to secure your future and meet your financial needs in the easiest manner. Whether you're a newly-wed or long-time partners, you can plan to manage your finances to accomplish your goals and reach financial freedom.
In this video, we will be simplifying your finances and help you focus on how you can invest your hard-eared money as a couple systematically. Also, we will share valuable insights along with various investment avenues available to you.
Some of the investment avenues available for you to invest as a couple are:
Unit-Linked Insurance Plan: ULIP plans are one of the most talked about investment avenues wherein couple can invest depending upon their income after mutual consent. Under ULIP Plans, one can avail insurance cover along with getting invested in market-linked instruments. The premium paid by couples either jointly or separately is further distributed in two parts i.e. insurance cover and market-linked investments by the insurance company.
Retirement Planning: As a couple, you should also think about your retirement. For this, a concrete retirement planning is must. For this, Max Life Insurance has brought Max Life Guarantee Income Plan where you plan your retirement to avail steady income after your 60s. The Max Life Guarantee Income Plan comes with guaranteed income along with a life cover.
Sovereign Gold Bonds: This latest investment product allows you to invest in gold without even buying a gold. The Government of India introduced Sovereign Gold Bond Scheme in November 2015 with an obiective to reduce current account deficit (CAD). The SGB pays 2.5% interest per year, which is generally payable on half-yearly basis. Under SGB scheme, no tax will be imposed if it’s redeemed at maturity.
Health Insurance: Health insurance plans are the ones that every couple should plan to purchase. With health insurance plan, comes coverage amount which can be used at the time when you are diagnosed with any type of critical disease. This would help in managing your finances at the time of emergency. Health insurance plans can be availed at lower premium rates if purchased at an early age.
Chapters :
0:00 - Introduction
0:49 - 50:30:20 Rule
1:32 - Expenses
3:20 - Where and How to invest
4:00 - Health Insurance
4:53 - Goal Based Investment
5:11 - Guaranteed Savings Plan
6:08 - Retirement Plan
6:43 - ULIP
7:34 - Closing
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