About the Book : – To most people retirement is an age. It of course depends on your health, the company you work for etc. However in the first chapter I would like to introduce you to the concept that retirement is an amount of money! After all, if you have that magical amount why [...]
Normally the Avenues for Retirement Planning for the Indian population would be the following:
PPF , PF, EPFO , Mutual Fund Pension Schemes, Retirement Planning products from Insurance Companies, bank fixed deposits and post office schemes. A very small part of the population created its own customized Individual Products. This could be a couple of extra [...]
I was recently at a conference for students – and was addressing about ‘ABC of Money’. ABC of Money is a program which is meant to introduce you to Goal setting, Quantifying Goals, Mathematics of Investing, Compounding, Annuity, Risk Profiling, Mutual Funds, Life Insurance, Retirement Planning and Record Keeping. It is a comprehensive program and [...]
In every financial planning class I need to do a post lunch session. To keep them awake I ask them to do a simple exercise – calculating how much money they require for retirement.
Unless they are at least 37-38 years of age, they have no clue as to how much they need for retirement. Once [...]
Retirement Planning – sounds very intimidating to many people. However, like all long journeys it begins with a small step. First of all you need to accept that you will retire, and like all events in life the person who is better prepared will face it better. So retirement planning can be made to look [...]
In every class on retirement planning one question which I always get a wrong answer is: “Will you buy big assets like house, car, etc. AFTER you retire?”
It is met with an “obviously no. why do you even ask”. Well the obviously no is said and ‘why do you even ask is in the body [...]
In every financial planning class I need to do a post lunch session. To keep them awake I ask them to do a simple exercise – calculating how much money they require for retirement.
Unless they are at least 32-33 years of age, they have no clue as to how much they need [...]
Americans do things in style. So whether it is getting into a financial debt trap, chapter 11 bankruptcy claims, or living far beyond their means, they have a term for all of that. Like subprime. Like lending $700,000 to a person earning $ 17,000 per annum. They create products like “interest only”, “balloon repayments” or [...]
Financial planners, mutual fund sellers, bank RMs, all of them have a knack of racking up a large number when it comes to your retirement corpus! Normally they do this so that they can galvanize the client to act. However, from what I have seen it normally has a negative effect!
When people look at a [...]
Are you in Denial mode regarding your retirement financial needs?
I cannot comment for every one, but too many people are in denial about their financial needs for retirement. Most of us do not want to accept that we will buy 3-4 washing machines, air conditioners, refrigerators, maybe about 2-5 cars, at least one or two [...]