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Retire Rich Invest: Rs. 40 a Day
o 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 not retire early?
The second chapter takes you through the steps and importance of planning, and to the dangers of not planning.
Like any financial goal, retirement is also a goal and has to be approached in a financial planning mode. So Retirement Goal Setting becomes a very important and is perhaps the first step in Retirement planning.
How much money is adequate for a person to retire? It is a question that is very difficult to answer. Here is a generic answer telling you what are the factors to consider while trying to answer this question. This chapter has many pointers and a calculator which leads you towards the answer. Remember this is not an answer cast in stone as the facts keep changing, so will your answer.
Can you really retire by investing an amount as little as Rs. 40 a day? The answer is yes it is the power of compounding. If you do have n or time on your side, it is possible to retire on an amount as small as Rs. 40 a day. And the fantastic thing is that this small amount can be got by making very simple changes in your life style.
We then deal with Annuity the withdrawal stage. After all if you have accumulated money for your retirement, you should also know how to withdraw. Here we deal with what is annuity, what are the methods of creating annuities, what options are available, and the works about annuity.
Retirement savings and investments are invested in various instruments. A book cannot really do justice to all the schemes that are currently available. However here is an attempt at that. It is accurate to the extent that the sources from where the details have been taken are up to date! There are books specializing in information about investment products which are produced on a yearly basis. One book which immediately comes to mind is In the Wonderland of Investments by Mr. Shanbag.
A few chapters are devoted to answering how much and what type of insurance should you look at during retirement, the attitude of the Indian family to retirement, the need to make a will, some retirement blunders, etc.
The book is rounded off with some useful calculators regarding how much to save, effect of inflation etc. These are simple calculators which can be created in excel. Some of these calculators can be found on websites like moneycontrol.com or in google.
The second chapter takes you through the steps and importance of planning, and to the dangers of not planning.
Like any financial goal, retirement is also a goal and has to be approached in a financial planning mode. So Retirement Goal Setting becomes a very important and is perhaps the first step in Retirement planning.
How much money is adequate for a person to retire? It is a question that is very difficult to answer. Here is a generic answer telling you what are the factors to consider while trying to answer this question. This chapter has many pointers and a calculator which leads you towards the answer. Remember this is not an answer cast in stone as the facts keep changing, so will your answer.
Can you really retire by investing an amount as little as Rs. 40 a day? The answer is yes it is the power of compounding. If you do have n or time on your side, it is possible to retire on an amount as small as Rs. 40 a day. And the fantastic thing is that this small amount can be got by making very simple changes in your life style.
We then deal with Annuity the withdrawal stage. After all if you have accumulated money for your retirement, you should also know how to withdraw. Here we deal with what is annuity, what are the methods of creating annuities, what options are available, and the works about annuity.
Retirement savings and investments are invested in various instruments. A book cannot really do justice to all the schemes that are currently available. However here is an attempt at that. It is accurate to the extent that the sources from where the details have been taken are up to date! There are books specializing in information about investment products which are produced on a yearly basis. One book which immediately comes to mind is In the Wonderland of Investments by Mr. Shanbag.
A few chapters are devoted to answering how much and what type of insurance should you look at during retirement, the attitude of the Indian family to retirement, the need to make a will, some retirement blunders, etc.
The book is rounded off with some useful calculators regarding how much to save, effect of inflation etc. These are simple calculators which can be created in excel. Some of these calculators can be found on websites like moneycontrol.com or in google.
264 pages, Kindle Edition
First published March 1, 2013
39 people are currently reading
440 people want to read
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Displaying 1 - 8 of 8 reviews
April 2, 2017
Strong recommended for all first time investors in India. You'll find a lot of books on the why and how of investing but this one is written from an Indian point of view and hits the nail precisely where it should. Full of sensible advice and pitfalls one should avoid.
Stop listening to your bank's relationship manager blindly or that irritating uncle who doles out share market tips whenever you meet him... And buy this book!
Stop listening to your bank's relationship manager blindly or that irritating uncle who doles out share market tips whenever you meet him... And buy this book!
April 8, 2020
Good Book for beginners in the Indian Investment context.
Reader needs to bear with editing errors at multiple places.
This book would probably need 2 - 3 readings for a beginner to get hold of the action points applicable to one's life stage.
In order to make better sense of the book, it is advisable to see the authors videos on the different topics, available on his YouTube page as well.
Reader needs to bear with editing errors at multiple places.
This book would probably need 2 - 3 readings for a beginner to get hold of the action points applicable to one's life stage.
In order to make better sense of the book, it is advisable to see the authors videos on the different topics, available on his YouTube page as well.
December 15, 2019
Provides lot of tips, case studies from Indian investment perspectives. It will be useful for beginners to get familiar with jargons and understand how much to save, how to calculate net worth, how to forcast retired life money needs.
October 12, 2020
Nice perspective, how things will change when you reach your retirement. Also, the author deals with various other aspects like insurance, will, financial goals one should look after. The key mantra, spend after what you invest.
June 2, 2016
An insightful account various retirement options. Its like concept guide of personal finance's most important goal i.e. retirement. The glossary at end helps you in understanding various concepts of personal finance. The phases of accumulation and retirement help in setting up accounts correctly.
December 1, 2016
Good for first timers
Overall the concepts and understanding of financial literacy are explained simply. If you are starting out, read this to get a basic grip on investment information and why should we invest.
Overall the concepts and understanding of financial literacy are explained simply. If you are starting out, read this to get a basic grip on investment information and why should we invest.
September 12, 2016
A good buy describes retirement needs and how to fulfill.
Recommended for who need good financial planning.
Recommended for who need good financial planning.
Displaying 1 - 8 of 8 reviews