What are the normal Retirement Mistakes that I am seeing very regularly? 1. Not working to a Retirement Plan: I am surprised at the large number of people who have no Retirement plan. Their refrain is “we will not live long like our parents”. Fine, I am sure you plan to die at 65….just in […]
Too many people are looking for a magic wand which will help them retire early. Retire here means you stop NEEDING to work for money. You work because you enjoy your work, not just to pay the EMI on some nonsense that you have bought. Step one is to want less. You need to live […]
First of all promise me that you will not ASK me how I sat through a meeting which went like this: Prospect: I will require less money after I retire. Me: Tell me which expense of yours will go down please? Food, entertainment, doctor’s bill,….???? P: Ok How much will I require? Me: there are […]
People ask me some very simple questions and expect to get a ‘yes’ or ‘no’ answer. Many a times I give it too. It is just meaningless. Let me tackle with 2 such questions, and I hope you appreciate that the answers are not so simple after all. The first question is “Subra I have […]
I recently met a 75 year old person who was saying that a 50 year old needs about Rs. 2 crore to retire (at age 60 years), and not a figure of US $ 1 million. In fact he said that even Rs. 2 crores is too much, actually Rs. 1 crore is enough. If […]
In the year 1800 the average life expectancy in the USA was about 40 years. A kid born in 2014 in the US is likely to live till the age of 82 years. In fact the probability of this kid reaching the age of 100 years is very high. Obviously retirement planning was not much […]
Some general observations or Axioms: 1. Generally money brings happiness, but only up to a point. You need to choose that point for yourself. IN the US this point to be considered to be about US $ 550,000. In India people will be satiated at a lesser number I guess (apart from a stupidly inflated […]