How to Set Saving Amount?

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Joined: Sun Oct 28, 2012 2:21 pm

How to Set Saving Amount?

Postby tkumarr » Sun Oct 28, 2012 2:30 pm

I have sort of confusion. Please guys help me out.

By recurring Fixed Deposit I saved $30,000 and I withdraw this amount now. With the same way, I would like to double my amount approx $60,000 this year. Here I confuse, I can save only $30,000 by my income and I have planned to reinvest the $30,000 in Recurring FD. In that case, what should be my saving amount?

If I will save $60,000 in that case why will i reinvest my amount ? I can utilize my $30,000 somewhere else and earn interest amount.

If I would like to invest only in recurring fixed deposit. What should be my goal setting amount at this stage? I would like to reinvest my $30,000 & my monthly saving income only.

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Joined: Sun May 29, 2011 4:50 am
Location: Chicago

Re: How to Set Saving Amount?

Postby Justus » Sat Nov 03, 2012 7:07 pm

I'm afraid most of the people on this forum are in the US and are not familiar with recurring fixed deposits available in India.

Can you better explain what you're trying to compute?

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