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Q.

How much money should one save before he/she turns 30?

Tags: turns 30
Asked by Rohini Nagraj, 24 Jul '09 12:44 am
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Answers (8)

1.

Maxim invest should be covered as he or she can so that further life goes easy
Answered by vidyasagar atre, 26 Dec '09 07:30 pm

 
  
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2.

Saving is a habit. Earlier you start , the better it is. Because of the magic of compounding, a person starting to save earlier has a great advantage. Creation of wealth depends upon 3 variables. A = P ( 1 + R/100 ) to the power N - where A is the amount ( wealth to be created ) , R is the rate of return and N is the period. & P is the principle. Now P depends upon the amount you are able to save after expenses and the amount you earn. There is a limit which is not entirely in your hands. R is the rate of return - not in your hands. N is the period - entirely in your hands. Earlier you start , the better it is. If a person invests say Rs 1000 per month from age 25 to age 60 and gets a return of 10% compounded - if the final amount is A then if a person starts 5 years later and invests till age 60 in the same avenue then the second person gets almost half of what the first person gets on his investment.
Answered by RANJAN KARNAD, 24 Jul '09 05:52 am

 
  
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3.

Rs 5L from ur individual source
Answered by Ganadhisha, 24 Jul '09 01:30 am

 
  
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4.

Atleast 1 lac
Answered by PANDU, 24 Jul '09 01:25 am

 
  
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5.

Brilliant Question!! but i guess Answer would be different for EACH person depending on their lifestyle and future earning capacity based on no. of working years left in life and also consider the no. of dependants and above all the desired lifestyle @ age 30 and thereafter.
Answered by Kuldeep Khatau, 24 Jul '09 12:57 am

 
  
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6.

Depends on how early she/he wants to retire.
Answered by Parthapratim Chakravorty, 24 Jul '09 12:52 am

 
  
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7.

Lots of money according to his/her income
Answered by vijayrv, 24 Jul '09 12:50 am

 
  
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8.

Depend on income
Answered by Sarita Rani, 24 Jul '09 12:46 am

 
  
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