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Though I advocate against it now, early in my career, I made a couple of investments purely with the objective of reducing my income tax liability. These investments simply don’t fit in with any of my financial goals. That led me to this thought: a “for income tax savings only” investment portfolio.
You could put your National Savings Certificates (NSC), 5-year Fixed Deposits, Infrastructure Bonds, etc. — things you’re doing with the sole objective of reducing your income tax liability — in this portfolio. And when they mature, you could use the proceeds to augment whatever financial goals you have at that point in time.
What do you think?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.