6 money myths that are stopping you from building wealth
Even in your 20s and 30s, sudden accidents, infections, or lifestyle diseases can cause financial stress. Buying health insurance early ensures lower premiums and covers waiting periods before you actually need the policy.
Fixed deposits alone may not beat inflation during longer post-retirement years. A smart bucket strategy that includes equity for money not needed immediately can help sustain your retirement corpus.
Not filing ITR just because your tax is zero can be a mistake. Filing is mandatory if you have large expenses, and it also allows you to claim refunds or carry forward losses.
The popular belief that you must keep a home loan to save tax is outdated. In the new tax regime, deductions are limited, so prepaying can reduce debt faster and bring peace of mind.
Job market disruptions and layoffs show that one salary cannot guarantee security. Building multiple income sources such as rentals, side hustles, or dividend funds helps create a financial safety net.
Writing a will is about responsibility, not age. Even young earners with assets or digital wealth should draft one to protect dependents and ensure smooth transfer of money and property.
