this book review was done by a 24 year old girl……I am happy that such a young person read the book. Here are her comments….

Retire Rich Invest Rs 40 a day!

Excited, you feel adrenaline rush down your blood… wait a minute – if you are in your 40s and think that 40 a day till you are 60 is going to solve your problems there after, you may not be right! But look at your grandparents and great grandparents – if they had lived through their 90s the probabilities of you touching that age is high. The money that you might have gathered by that exercise is going to be trivial enough for it to last for only a couple of years; if you are in your 20s and think about this as a boring subject or your age to be young enough to think about retirement – Subramanyam  is going to prove you wrong. The author has penned this book on retirement so beautifully that you could not only expect to be introduced to the titled concept but……
Some more concepts. There are many issues an individual faces while he is planning for his retirement. Hey women! he thinks you should invest more – and be prepared to handle money alone. Women work lesser years than men, take more breaks and live longer – and men should learn cooking – just in case they are alone!

I was surprised that I could read the book still in my first job, and was happy to finish reading it in 2 days time and doing the book review. However there were some important lessons to learn.
The question one needs to answer is not at what age should I retire but at what corpus level. The concept was nice. And calculating how long the money would last – meaning how long I could afford to be ‘retired’. In short was there a risk of finishing my corpus?

Often complicated problems demand human beings to search for answers or solutions that equally complex because simple – it just cannot be! By nature we are the most intelligent animals, aren’t we? The solution suggested is simple – uncomplicated for sure for the brain to process it;
• If you have a financial plan, include retirement; if not, make one – Starting early is the key
• Estimate the monthly expenditure you may incur after retirement – don’t forget medical expenses, nursing, old age home and inflation of course
• Learn more about your income and expenses at various stages in your life cycle (you will find an expense calculator in Chapter 3)
• Estimate your net worth (Find a net worth calculator in Chapter 4)
• Set SMART goals
• Open up your excel sheet and see how much you need to start investing from today itself to be able to achieve your goals – if you cannot do it alone, get help from an advisor
• Plan systematically and stick to it

Ok now! You might think where should I invest all the money? Will those assets yield the desired returns; we generally forget the compound interest formula because the power is not just in the returns the assets bring to your pockets but also the amount you invest and the time it stays invested.

So can 40 a day really work hard enough for you to retire rich? Of course says the author and it does great if you start early – stick to it and keep it simple. He has devoted a full chapter to this concept on which the whole book is placed!
Further down the chapters hel takes you through the family issues one faces while living through the retirement. There is also a note on retirement blunders to be avoided. He has written about a whole lot of instruments one can look at to fund retirement expenses ranging from debt securities to reverse mortgages – though one cannot go deeper into each one of them in a 220 page book, I’m sure you`d at least know what to search for in Google.  

So just wake your brains up, open your spreadsheet and start planning – and yes before that, pick this book to know what exactly you need to keep in mind. Your great grand children remember you or not, depends not only on whether you live long enough to play with them but also on what you leave back for them – both of which require money, so trust me you cannot say ‘money is not that important you know’ because the author is set to whip you with reality.

At the end of the book are some interesting tables –which tells you how much to save (making it a function of your current expenses), the millionaire calculator, delay calculator, etc. – I wish I knew where it could be found in the E form. It is quite a pain to enter the full worksheet in an excel sheet. The examples are easy to read and understand – especially the Jayshree Mathur story.

Related Articles:

Post Footer automatically generated by Add Post Footer Plugin for wordpress.

  1. Subra

    I feel the book is going to be a hit as India has maximum population below age 30 , that makes it the biggest market ok the book .

    I am planning to do a review on my blog soon and offer the book to the top winner 🙂 . How does that sound to you ?


  2. Subra

    I meant to say that I will do contest on my blog on some thing (in the article where I review the book) .

    Some simple contest Idea is “Best comment” , “Top commentator of the month” etc .

    I think you can also do something this and prize a person with a book (ship it to his address) . It will help in promotion .

    What do you say ? Want to Sponsor? I have huge readership of people who are looking solutions to retirement . What do you think about the idea ?

    Do you think it will work ?

    err .. one more thing , please enable the “subscribe to comments” thing , there is a wordpress plugin which will help readers to subscribe to the comments while they are commenting , its hard to come back the see if they got the reply or not ?


  3. Hello

    I just bought this book about a week back and have finished reading about half of it. The book is a good attempt at explaining the topic of retirement (especially in the Indian context) but unfortunately falls short in many aspects.

    One of the biggest let down is the number of mistakes in it. Content is incomplete and some of the referred to items are missing. Some tables are incomplete.

    Second problem is that it does not have a proper defined flow. It just meanders around the topic of the chapter but ends up not concentrating on it. It appears to me a like a loose collection of articles of the topics of retirement have been spruced up a bit and put into a book.

    Having said so many negatives my intent is not to discourage the book – it has great potential to be a great book about financial planning for retirement but needs quite a bit of rework to get there. I hope the next editions iron out the issues.


  4. apart from typos…can u please be more specific about

    1. Content is incomplete…
    2. Referred to items are missing?
    3. Tables incomplete

    specifically what else did you expect…will be useful for the next ed….

    thanks for reading, and for the feedback!

  5. Hi

    I just got this book, and went through some pages and got to know about this website from the last part – regarding the author. Looks very interesting. Will write after finishing the book.



  6. Yes, the book is very interesting. Planning from early twenties is a good idea. The author took inflation, growing responsibilities, and also glowing smile in life very reasonably. Save rupees forty a day is good. saving fifty will help us to do the possible charity in our old age.

    In all, good ideas and very well planned and organised economic thinking.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.