Thanks to my training back ground and having written the book ‘Retire Rich: Invest Rs. 40 a day’ I have done some workshops on ‘Retirement Planning’ at various locations.
There is one question which I HAVE TO ANSWER:
‘How much money as a corpus do I need to retire?’ – and if I say Rs. 2.8 crores there is either a denial or followed up by another question – IS THIS CORRECT AND FINAL’. That question I have not been able to answer.
What a planner tells you is an approximate number. Cannot promise whether this will be correct PERMANENTLY! There are so many dynamics in the market – inflation rate, market performance, your health, your monthly expenditure (most of them do not have a number picked from excel, it is only an ESTIMATE). My argument is that based on
– estimated current monthly expenses
– estimated year of retirement
-estimated rate of return on the assets
– estimated year up to which the client will be alive
NOBODY – repeat NOBODY will be able to give you an EXACT estimate of what you require for RETIREMENT….
HERE is an article on Wall Street Journal read on…
Post Footer automatically generated by Add Post Footer Plugin for wordpress.