The Freedom Fund

Manish Yadav (name changed) was just 26 years old when he died in 2021. He is now survived by his younger brother (22 years), who is doing his CA, his mother, a primary school teacher, and a bedridden father. Manish’s income supported the family in a big way. Thankfully, he had taken a traditional life insurance plan just a year ago. His family received about Rs 20 lakh from the insurance company. “It bought us some time before I could step up to start earning,” says Manish’s brother. Emergencies hit in your face unannounced. Surviving an unfortunate event without a major impact on your financial life is real freedom. But how do you do that? Create a freedom fund to take care of financial emergencies. Emergency Expenses According to financial experts, making provision for emergency expenses should be the first step to financial freedom. Most of them suggest...