Designing Your Retirement

wealthymattersI think it a pity that so many Indians are so worried about retirement Link. For a few years now, I could have simply decided to quit all work and live off the income from my assets . It’s a different matter that I choose to work . I find personally meaningful work, one of the biggest sources of pleasure in my life.

Perhaps my approach of planning and providing for retirement will help many more people quit worrying about  it. So here it is :

1.First ask yourself if you wish to ever fully retire. When ?

2.Then ask yourself where you wish to live upon retirement ? Or would you really prefer to live a gypsy’s existence, going wherever your fancy takes you.

3.What are the plans, wishes and expectations of the rest of your family ,even as you retire ?What do you think of these claims ?How would accommodating their needs modify your plans? Read more of this post

The Ameriprise India Financial Intelligence Index Survey

wealthymattersIn this survey,an early start, goal-based planning and willingness to seek professional advice have made Mumbai investors the most financially intelligent in the country. Mumbai investors scored 5.8 on a scale of 10, the highest among the six cities, in this study conducted by TNS India on behalf of financial planning firm Ameriprise India. Delhi ranked second on the Financial Intelligence Index with a score of 4.5, followed by Hyderabad, Pune, Bengaluru and Chennai . The study gave equal weightage to five parameters: the age at which you start investing, portfolio diversification, long-term horizon, goal-based investment and seeking professional help. Nearly 700 upwardly-mobile investors with an annual household income of 12.5 lakh and in the age group of 28-45 years responded to the survey. Read more of this post

Retirement Planning

wealthymatters.comAge is going to affect all of us differently.Some of us are going to live longer than others and in great good health.And each of us has a different idea of what would be a perfect lifestyle in our old age.Health permitting, there will always be the people who prefer to simply read or garden,others who would travel the world and the few who would pilot jets for fun.Knowing yourself and what you want and knowing your family and what they would prefer is the basis of retirement planning.

Next comes the question of when, if ever, you would like to retire.There are always the people who love what they do and  Buffett – like ‘skip to work’.The’d love to work as long as possible.However there are others who would dutifully eat their vegetables first and then treat retirement as well deserved dessert to be enjoyed at 25,35,40,45…….65 or any other age of their choice.Health and the economy however might force people to cut back irrespective of their wishes. Read more of this post

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