AltSal - FreeUp

FAQs about FreeUp

Jump to a question:

Apply for KYC i.e. Aadhar card, PAN card, Voter ID, and Driving license.
Ensure accuracy of Name, Address, and DOB in KYC documents.
Open a bank account.
Learn about money, currency, monetary system, economy, capital markets, equity, debt, and precious metals.
Find a source of income i.e. job/business.
Split income into two parts. Spend up to 40%; Save more than 60%.
Insure your health up to 1 year of your annual income.
Insure your life up to 20 times your annual income.
Build an emergency fund equal to six months of salary.
Build credit score by applying for a credit card and paying off bills on time and in full.
Don't take any personal debt (for education, vehicles, marriage, home, etc.)
Pay off any personal debt if you have already taken one.
Open a trading account.
Buy Nifty Bees every month with savings.
For Active Investing/Trading:
- Learn about Collateral, Margin, and Options writing.
- Pledge 20% of Nifty Bees, get limits and sell options with the hedge.
Once capital is greater than 1 crore, convert Nifty Bees position into a permanent portfolio.
Once the capital is greater than 5 crores, set up a permanent portfolio i.e. invest 25% into Equity, 25% Bonds, 25% into Gold, 25% into Liquid instruments.
Rebalance the portfolio every year on your birthday.
Write your will and sign it before witnesses and keep it in safe custody.
Enjoy the financial freedom!

Page updated

Google Sites

Report abuse