How many of these boxes you tick?
1. You have medical insurance.
2. Term Insurance.
3. Adequate Emergency Fund (6-12 months of income).
4. EMIs capped to less than 50% of your income. The lesser the better.
5. Net debt free. (Debt can be virtually closed today if you liquidate all your assets).
6. No consumption related debt. Eg: iPhone, Car, Bike, Home appliances on EMI.
7. Cash component approx 5-10% of your networth.
8. No credit card debts.
9. Multiple sources of income.
The more checklists you tick, the more stronger financially secure you are. Irrespective of your income.
