ЁЯз╡ Thread on NINE PERSONAL FINANCE RULES WE ALL MUST KNOW

1) Rule of 72 (Double Your Money)
2) Rule of 70 (Inflation)
3) 4% Withdrawal Rule
4) 100 Minus Age Rule
5) 10,5,3 Rule
6) 50-30-20 Rule
7) 3X Emergency Rule
8) 40тДЕ EMI Rule
9) Life Insurance Rule

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1) Rule of 72

No.of yrs required to double your money at a given rate,U just divide 72 by interest rate
Eg,if you want to know how long it will take to double your money at 8% interest,divide 72 by 8 and get 9 yrs

At 6% rate,it will take 12 yrs
At 9% rate,it will take 8 yrs
2) Rule of 70

Divide 70 by current inflation rate to know how fast the value of your investment will get reduced to half its present value.

Inflation rate of 7% will reduce the value of your money to half in 10 years.
3)4% Rule for FinancialFreedom

Corpus Required=25tms of your Estd Annual Exp.

Eg-if your An exp after 50yrs age is 5L and you wish to retire corpus req is 1.25crs.

Put 50% in Debt & 50% in equity.

Withdraw 4% every year,i.e.5L

This rule works for 96% of time in 30 yrs period
4) 100 minus your age rule

This rule is used for asset allocation.Subtract your age from 100 to find out,how much of your portfolio should be allocated to equities

Suppose your Age is 30 so (100-30=70)

Equity:70%
Debt:30%

But if your Age is 60 so (100-60= 40)

Eq 40% & D 60%
5) 12-5-3 Rule

One should have reasonable returns expectations

12тДЕ Rate of return - Equity / Mutual Funds
5тДЕ - Debts ( Fixed Deposits or Other Debt instruments)
3тДЕ - Savings Account
6) 50-30-20 Rule - about allocation of income to expense

Divide your income into

50тДЕ-Needs(Groceries,rent,emi, etc)

30тДЕ -Wants / Desires (Entertainment)

20тДЕ-Savings(Equity,MFs,Debt,FD, etc)

At least try to save 20тДЕ of your income. You can definitely save more.
7) 3X Emergency Rule

Always put atleast 3 times your monthly income in Emergency funds for emergencies such as Loss of employment, medical emergency, etc.

3 X Monthly Income

In fact, one can have around 6 X Monthly Income in liquid or near liquid assets to be on a safer side.
8). 40тДЕ EMI Rule

Never go beyond 40тДЕ of your income into EMIs.

Say if you earn, тВ╣ 50,000 per month. Then you should not have EMIs more than тВ╣ 20,000 .

This Rule is generally used by Finance companies to provide loans. You can use it to manage your finances.
9) Life Insurance Rule

Always have Sum Assured as 20x of your Yearly Income.

20 X Annual Income

Say you earn тВ╣ 5 Lacs annually, you should atleast have 1cr insurance by following this Rule.
These rules are equally useful for young, youth and old. Hope you will find them simple, useful and handy.

Remember: These rules are just basic guidelines, there are exceptions & better ways for every rule.

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make products.

"If only someone would tell me how I can get a startup to notice me."

Make Products.

"I guess it's impossible and I'll never break into the industry."

MAKE PRODUCTS.

Courtesy of @edbrisson's wonderful thread on breaking into comics тАУ
https://t.co/TgNblNSCBj тАУ here is why the same applies to Product Management, too.


There is no better way of learning the craft of product, or proving your potential to employers, than just doing it.

You do not need anybody's permission. We don't have diplomas, nor doctorates. We can barely agree on a single standard of what a Product Manager is supposed to do.

But тАУ there is at least one blindingly obvious industry consensus тАУ a Product Manager makes Products.

And they don't need to be kept at the exact right temperature, given endless resource, or carefully protected in order to do this.

They find their own way.
рдкреНрд░рд╛рдЪреАрди рдХрд╛рд▓ рдореЗрдВ рдЧрд╛рдзрд┐ рдирд╛рдордХ рдПрдХ рд░рд╛рдЬрд╛ рдереЗредрдЙрдирдХреА рд╕рддреНрдпрд╡рддреА рдирд╛рдо рдХреА рдПрдХ рдкреБрддреНрд░реА рдереАредрд░рд╛рдЬрд╛ рдЧрд╛рдзрд┐ рдиреЗ рдЕрдкрдиреА рдкреБрддреНрд░реА рдХрд╛ рд╡рд┐рд╡рд╛рд╣ рдорд╣рд░реНрд╖рд┐ рднреГрдЧреБ рдХреЗ рдкреБрддреНрд░ рд╕реЗ рдХрд░рд╡рд╛ рджрд┐рдпрд╛редрдорд╣рд░реНрд╖рд┐ рднреГрдЧреБ рдЗрд╕ рд╡рд┐рд╡рд╛рд╣ рд╕реЗ рдмрд╣реБрдд рдкреНрд░рд╕рдиреНрди рд╣реБрдП рдФрд░ рдЙрдиреНрд╣реЛрдиреЗ рдЕрдкрдиреА рдкреБрддреНрд░рд╡рдзреБ рдХреЛ рдЖрд╢реАрд░реНрд╡рд╛рдж рджреЗрдХрд░ рдЙрд╕реЗ рдХреЛрдИ рднреА рд╡рд░ рдорд╛рдВрдЧрдиреЗ рдХреЛ рдХрд╣рд╛ред


рд╕рддреНрдпрд╡рддреА рдиреЗ рдорд╣рд░реНрд╖рд┐ рднреГрдЧреБ рд╕реЗ рдЕрдкрдиреЗ рддрдерд╛ рдЕрдкрдиреА рдорд╛рддрд╛ рдХреЗ рд▓рд┐рдП рдкреБрддреНрд░ рдХрд╛ рд╡рд░рджрд╛рди рдорд╛рдВрдЧрд╛редрдпреЗ рдЬрд╛рдирдХрд░ рдорд╣рд░реНрд╖рд┐ рднреГрдЧреБ рдиреЗ рдпрдЬреНрдЮ рдХрд┐рдпрд╛ рдФрд░ рддрддреНрдкрд╢реНрдЪрд╛рдд рд╕рддреНрдпрд╡рддреА рдФрд░ рдЙрд╕рдХреА рдорд╛рддрд╛ рдХреЛ рдЕрд▓рдЧ-рдЕрд▓рдЧ рдкреНрд░рдХрд╛рд░ рдХреЗ рджреЛ рдЪрд░реВ (рдпрдЬреНрдЮ рдХреЗ рд▓рд┐рдП рдкрдХрд╛рдпрд╛ рд╣реБрдЖ рдЕрдиреНрди) рджрд┐рдП рдФрд░ рдХрд╣рд╛ рдХрд┐ рдЛрддреБ рд╕реНрдирд╛рди рдХреЗ рдмрд╛рдж рддреБрдореНрд╣рд╛рд░реА рдорд╛рддрд╛ рдкреБрддреНрд░ рдХреА рдЗрдЪреНрдЫрд╛ рд▓реЗрдХрд░ рдкреАрдкрд▓ рдХрд╛ рдЖрд▓рд┐рдВрдЧрди...

...рдХрд░реЗрдВ рдФрд░ рддреБрдо рднреА рдкреБрддреНрд░ рдХреА рдЗрдЪреНрдЫрд╛ рд▓реЗрдХрд░ рдЧреВрд▓рд░ рд╡реГрдХреНрд╖ рдХрд╛ рдЖрд▓рд┐рдВрдЧрди рдХрд░рдирд╛ред рдЖрд▓рд┐рдВрдЧрди рдХрд░рдиреЗ рдХреЗ рдмрд╛рдж рдЪрд░реВ рдХрд╛ рд╕реЗрд╡рди рдХрд░рдирд╛, рдЗрд╕рд╕реЗ рддреБрдо рджреЛрдиреЛ рдХреЛ рдкреБрддреНрд░ рдкреНрд░рд╛рдкреНрддрд┐ рд╣реЛрдЧреАредрдкрд░рдВрддреБ рдорд╛рдВ рдмреЗрдЯреА рдХреЗ рдЪрд░реВ рдЖрдкрд╕ рдореЗрдВ рдмрджрд▓ рдЬрд╛рддреЗ рд╣реИрдВ рдФрд░ рдпреЗ рдорд╣рд░реНрд╖рд┐ рднреГрдЧреБ рдЕрдкрдиреА рджрд┐рд╡реНрдп рджреГрд╖реНрдЯрд┐ рд╕реЗ рджреЗрдЦ рд▓реЗрддреЗ рд╣реИрдВред

рднреГрдЧреБ рдЛрд╖рд┐ рд╕рддреНрдпрд╡рддреА рд╕реЗ рдХрд╣рддреЗ рд╣реИрдВ,"рдкреБрддреНрд░реА рддреБрдореНрд╣рд╛рд░рд╛ рдФрд░ рддреБрдореНрд╣рд╛рд░реА рдорд╛рддрд╛ рдиреЗ рдПрдХ рджреБрд╕рд░реЗ рдХреЗ рдЪрд░реВ рдЦрд╛ рд▓рд┐рдП рд╣реИрдВредрдЗрд╕ рдХрд╛рд░рдг рддреБрдореНрд╣рд╛рд░рд╛ рдкреБрддреНрд░ рдмреНрд░рд╛рд╣реНрдордг рд╣реЛрддреЗ рд╣реБрдП рднреА рдХреНрд╖рддреНрд░рд┐рдп рд╕рд╛ рдЖрдЪрд░рдг рдХрд░реЗрдЧрд╛ рдФрд░ рддреБрдореНрд╣рд╛рд░реА рдорд╛рддрд╛ рдХрд╛ рдкреБрддреНрд░ рдХреНрд╖рддреНрд░рд┐рдп рд╣реЛрдХрд░ рднреА рдмреНрд░рд╛рд╣реНрдордг рд╕рд╛ рдЖрдЪрд░рдг рдХрд░реЗрдЧрд╛ред"
рдЗрд╕ рдкрд░ рд╕рддреНрдпрд╡рддреА рдиреЗ рднреГрдЧреБ рдЛрд╖рд┐ рд╕реЗ рдмрдбрд╝реА рд╡рд┐рдирддреА рдХреАред


рд╕рддреНрдпрд╡рддреА рдиреЗ рдХрд╣рд╛,"рдореБрдЭреЗ рдЖрд╢реАрд░реНрд╡рд╛рдж рджреЗрдВ рдХрд┐ рдореЗрд░рд╛ рдкреБрддреНрд░ рдмреНрд░рд╛рд╣реНрдордг рд╕рд╛ рд╣реА рдЖрдЪрд░рдг рдХрд░реЗред"рддрдм рдорд╣рд░реНрд╖рд┐ рдиреЗ рдЙрд╕реЗ рдпреЗ рдЖрд╢реАрд░реНрд╡рд╛рдж рджреЗ рджрд┐рдпрд╛ рдХрд┐ рдЙрд╕рдХрд╛ рдкреБрддреНрд░ рдмреНрд░рд╛рд╣реНрдордг рд╕рд╛ рд╣реА рдЖрдЪрд░рдг рдХрд░реЗрдЧрд╛ рдХрд┐рдиреНрддреБ рдЙрд╕рдХрд╛ рдкреМрддреНрд░ рдХреНрд╖рддреНрд░рд┐рдпреЛрдВ рд╕рд╛ рд╡реНрдпрд╡рд╣рд╛рд░ рдХрд░реЗрдЧрд╛ред рд╕рддреНрдпрд╡рддреА рдХрд╛ рдПрдХ рдкреБрддреНрд░ рд╣реБрдЖ рдЬрд┐рд╕рдХрд╛ рдирд╛рдо рдЬрдореНрджрд╛рдЧреНрдирд┐ рдерд╛ рдЬреЛ рд╕рдкреНрдд рдЛрд╖рд┐рдпреЛрдВ рдореЗрдВ рд╕реЗ рдПрдХ рд╣реИрдВред