99
info@finarraywealth.com
Life in your early 30s is a whirlwind. Career, family, responsibilities – it all comes at you fast. But amidst the chaos, there’s one silent trap many fall into: the financial Chakravyuh.
Like Abhimanyu in the Mahabharata, many enter the battle of financial planning armed with half knowledge. They take the first step – an SIP for wealth creation or a term plan for protection – but forget the exit strategy. Without a well-rounded approach, they risk getting stuck in financial uncertainty later in life.
So, how do you break free? By embracing a strategy that balances both protection and growth.
The Perfect Duo: SIP & Term Plan
Most people ask, “Do I need an SIP or a term plan?” The truth is, it isn’t an either-or decision. You need both to secure your future and build wealth systematically.
- Term Plan: Your shield. Ensures your family remains financially secure if anything happens to you.
- SIP (Systematic Investment Plan): Your sword. Helps you build wealth over time and creates a financial cushion.
When combined, these two elements form the perfect battle strategy, ensuring that your financial journey is both secure and prosperous.
The Game Plan with “Protect & Grow” Calculator
Let’s bring this to life with an example:
- Age: 40
- Term Plan Sum Assured: ₹1 Crore
- Term Plan Till Age: 85
- Premium Paying Term: Till 60
- Annual Premium: ₹48,695
- SIP Amount Investment: ₹1,00,000 per year
- Investment Duration: 10 years
- Expected ROI: 12%
- SWP Start Age: 50
- SWP Amount: ₹50,000 per year
The Magic of Planning: What You Get
- Total Investment: ₹10,00,000
- Total Premium Paid: ₹9,73,900
- Expected Returns by 50: ₹98,41,641
- Total SWP Over Time: ₹18,00,000
By 50, your SIP investments start giving you a steady stream of income, while your term plan ensures your family is protected no matter what happens.
The Lesson: Don’t Just Enter, Plan Your Exit!
Many start investing or buying insurance without thinking about the full picture. But real financial success comes when you combine protection (term plan) with wealth creation (SIP).
Your 30s and 40s are the time to build, so your 50s and beyond can be about living freely. Avoid the financial Chakravyuh – take a step towards securing your future today!
