How to plan financially for your life’s stages?

Now that we have taken the pledge, let’s see how to make a sound financial plan. Following is a
broad framework that can help you for each life stage:

25-35 Years

Financial Goals
Life Stage Buying a car, buying a house,
Young married couple vacation, young kids-related
expenses

Top Critical Financial Skills Budgeting

Financial discipline through To start with, follow the 50:30:20 Rule
budgeting (Needs : Wants : Savings) > As your income grows,
Build savings into your budget increase allocation from Wants to Savings
Tax Planning**

Emergency Fund Investment Portfolio

Keep a fund of 6-12 months of To determine allocation towards equity investments,
your current income gradually shift from equity to debt investments as you
approach retirement
Debt To move your investments from equity to debt (such as
liquid Mutual Fund* Schemes), initiate a Systematic
Using debt intelligently and
Transfer Plan (STP)*
building your credit history
To meet your income needs at a later stage, redeem
your investments using a Systematic Withdrawal Plan
Insurance (SWP)*
A basic Health Insurance is EXPLORE THE INVESTMENT OPTION
important, particularly if you don’t have a
health cover from your employer.
Adequate Health Insurance is important Tax Planning**
for all members in the family ELSS (80C)*, HRA (80GG)***,
Life Insurance (80CC), Health Insurance (80D)
VIEW THE LIST OF TAX SAVING** INVESTMENTS

*ICICI Bank Limited is a AMFI Registered Mutual Fund Distributor. Mutual Fund investments are subject to market risk. Read all scheme related documents
carefully. T&C Apply. **Tax Benefits are subject to amendments in tax laws from time to time.
***Only those who are self-employed or who do not get HRA are eligible to claim a deduction under this section

1800 1080 Connect with us! JANUARY 2023 | VOL.20

 35-45 Years

Financial Goals
Life Stage Planning for kids’ education and marriage,
Family with young kids upgrading existing house, international vacations,
retirement planning, fund accumulation to start own
business, social commitments like charity and donations

Top Critical Financial Skills Budgeting

Avoid debt trap To start with, follow the 50:30:20 Rule
Constructing a portfolio that is (Needs : Wants : Savings) > As your income grows,
aligned to growth, income and increase allocation from Wants to Savings
liquidity needs

Investment Portfolio
Emergency Fund To determine allocation towards equity investments,
Keep a fund of 6-12 months of gradually shift from equity to debt investments as you
your current income approach retirement
To move your investments from equity to debt (such as
liquid Mutual Fund* Schemes), initiate a Systematic
Transfer Plan (STP)*
Debt To meet your income needs at a later stage, redeem
Using debt intelligently and building your investments using a Systematic Withdrawal Plan
your credit history (SWP)*
EXPLORE THE INVESTMENT OPTION

Insurance
Expand Health Insurance to
cover your family. Include your
children in your Health Insurance cover
Tax Planning**
Upgrade Life Insurance (80C) & Health
Insurance (80D), Principle (80C) and Interest
Repayment (24B) of Housing Loan
VIEW THE LIST OF TAX SAVING** INVESTMENTS

*ICICI Bank Limited is a AMFI Registered Mutual Fund Distributor. Mutual Fund investments are subject to market risk.
Read all scheme related documents carefully. T&C Apply.
**Tax Benefits are subject to amendments in tax laws from time to time.

1800 1080 Connect with us! JANUARY 2023 | VOL.20

 45 Years to Retirement

Financial Goals
Life Stage Kids’ marriage, building retirement corpus,
Family with grown-up kids creating passive income, paying off debts (loans),
succession planning

Budgeting
Top Critical Financial Skills To start with, follow the 50:30:20 Rule
Right time to catch up on (Needs : Wants : Savings) > As your income grows,
retirement goal with excess savings increase allocation from Wants to Savings
Estate planning and creating Will.

Investment Portfolio
Emergency Fund
To determine allocation towards equity investments,
Keep a fund of 6-12 months of gradually shift from equity to debt investments as you
your current income approach retirement
To move your investments from equity to debt (such as
liquid Mutual Fund* Schemes), initiate a Systematic
Debt
Transfer Plan (STP)*
Borrow primarily for appreciating To meet your income needs at a later stage, redeem
assets your investments using a Systematic Withdrawal Plan
(SWP)*
EXPLORE THE INVESTMENT OPTION
Insurance
Update Health Insurance in
alignment to your current needs Tax Planning**
NPS (80CCD), PPF (80C), Child’s
Education Loan (80E), Charity (80G)
VIEW THE LIST OF TAX SAVING** INVESTMENTS

*ICICI Bank Limited is a AMFI Registered Mutual Fund Distributor. Mutual Fund investments are subject to market risk.
Read all scheme related documents carefully. T&C Apply.
**Tax Benefits are subject to amendments in tax laws from time to time.

1800 1080 Connect with us! JANUARY 2023 | VOL.20

 Post Retirement

Financial Goals
Life Stage Need for regular income, capital protection,
Retired adults maintaining a standard of living, succession planning

Budgeting
Top Critical Financial Skills To start with, follow the 50:30:20 Rule
Budgeting to control expenses to (Needs : Wants : Savings) > As your income grows,
stay within the available income increase allocation from Wants to Savings
Simplifying and consolidating
finances
Investment Portfolio
Emergency Fund To determine allocation towards equity investments,
gradually shift from equity to debt investments as you
Keep a fund of 6-12 months of approach retirement
your current income To move your investments from equity to debt (such as
liquid Mutual Fund* Schemes), initiate a Systematic
Transfer Plan (STP)*
Debt To meet your income needs at a later stage, redeem
Ideally zero debt your investments using a Systematic Withdrawal Plan
(SWP)*
EXPLORE THE INVESTMENT OPTION

Insurance
Adequate Health Insurance Tax Planning**
is critical Investment through Senior Citizen Savings
Scheme, which is eligible under tax deduction
in 80C
VIEW THE LIST OF TAX SAVING** INVESTMENTS

*ICICI Bank Limited is a AMFI Registered Mutual Fund Distributor. Mutual Fund investments are subject to market risk.
Read all scheme related documents carefully. T&C Apply.
**Tax Benefits are subject to amendments in tax laws from time to time.

1800 1080 Connect with us! JANUARY 2023 | VOL.20