When is the right time to hang up your boots? Your parents being government employees never had to plan it. Retirement was something that happened to them inevitably. Times have changed. Today, you have more authority on deciding the course of your life. Let’s take a look at your life. You are in your 20’s or 30’s, you have a well-paying job and a lifestyle to match with. You work hard and play harder. Your prospects in life look bright and shiny. You are content and happy. And your plan is to retire in your fifties and go to the Bahamas once in a year, or walk your dog through the pristine beaches of Goa, or just sit at home catching up with all the reading you have missed over the years. Of course, you can do it but do you have a plan? The one that equips you to handle your financial requirements fittingly in the years when you’re just going to sit back and enjoy.
The average life span of Indians has increased considerably thanks to good health care and improved living conditions. It may sound like the ideal thing but it also means that they have long twilight years and possibly more than a decade or two where they will not be earning a living due to age and health. So it is but natural that unlike the previous generations, the current generations are more aware of the need to plan for their retirement years. They no longer consider their children as their retirement fund but instead prefer to plan and create enough funds to be able to have a good life long after retirement. Unfortunately most make a few basic mistakes which could lead to disastrous results. Continue reading
Wish you all a very happy 2017! Today standing in 2017 it feels like we celebrated beginning of 2016 just sometime back. Time flies.
By now you all must have taken your new-year resolutions for 2017. We do this every year because we have fresh 365 days ahead of us and we wish to make the most out of them. But have you ever thought what would be your resolutions for 10950 days (30 years almost). Continue reading
“Oh the 80C limit has increased. I’ll have to increase my investments to save tax”!!! This is the most talked about thing on office desks and dinner tables these days. Tax saving is something that most of us are very serious and concerned about and hence we do every possible thing to reduce tax liabilities to minimal. But what is it that you are buying for??? Are you buying it just to save tax or save tax and fulfill financial goals such as retirement, kids planning etc.? The answer is “we want to save tax and save for our future as well”. But the fact is most of us just end up investing recklessly in a hurry to save tax and hence the financial goal takes a backseat. This is the story of first three months of every year where there are people who are selling and people who are buying. Continue reading