💯 agreeing with you..
I was wondering if there has been ever a negative inflation. Because the rate at which things are going the amount required for early retirement may have couple of more zeros attached to it.
I calculated back in 2019 for myself it came about 3.4Cr it was absurd back then and not I am not even able to think clearly anymore.😅
No worries. Hopefully we all may find what we are looking for.
❤️☮️
A 3.5 Cr amount invested for a 12% return will generate 3.5 lakh a month. After 30% taxes it will be 2.5 lakh a month. Is that really the amount you need for a retired life ?
I'm wondering how to calculate the retirement corpus.
Haha, @blog-beginner.
This is what exactly I was talking about the other day. My Calculation involved Low Risk Low return model and I wasn't even aware at that point about the instruments which can provide up too 12% returns. The Calculation was done with the 5.5% in mind which would INR 1925000 and after the Taxes INR 1347500. So 1.2 Lac per Month. And I added a little bit of luxury element in my retirement. But still as you can see I was way off from the calculation. Plus now the new factors are involved like Kids, Their Education and Home so. I think its time I redo it again.
For a salaried employee disciplined and consistent investment in PPF, EPF, VPF and then equity and mutual funds is the way to go. Let it accumulate for around 15 years and it should give you a great cushion.
In parallel term plan, medical insurance is a must.
I need to redo my ledger for this year. Since March is here I will do it.
Exactly, I am going to do the same. For me I am going towards the Equity.
And with a promise to myself that, I will make sure that My Son and future kids knows what investment is from early ages so they dont get lost in the financial journey.
Best way to teach your kids about savings is to buy them a piggy bank(Gullak in Hindi). I as a kid used to save money in that gullak and would buy luxurious things that we could not afford back then.
Same here. My son is just 3 months old. I already bought a piggy bank for him.
Every year I think we have to keep adding one more crore. That's how the inflation is going on I think.
Yup, no answer to the inflation yet. The only solution so far it to invest in instruments that beats inflation and take risk.