👉Everyone has a dream to Retire Early and have a blast or stable life after Retirement :
👉Retirement does not meant you stop working. It’s all about obligation at work.
Someone wants to Retire early to start his own business or To spend quality time with family Or To work as per your desired Time with no Obligations and Few coz of Health Problems.
🔷️Here are few tips which can help you
👉Assuming a average life span of 70-75 years , Calculate How much money you will need for Monthly expense and corpus needed to help your Monthly expense.
👉The saved corpus should be atlest 35 to 50 Times Of Your Monthly expense.Also keep emergency medical corpus in saving or Liquid money. Today’s generation believes & Loves to Travel.
Even I beleive “Travel is the Healthiest Addiction” So invest some money That can Take care of your Travel expense even after your Retirement.
👉Start Saving at Early age. Save atlest 40% to 50% Of your Income.
“Make Investing a Habbit.”
👉Invest Reqularly in Equities to create Long Term corpus for Retirement,Childs Education, Childs marriage or to Achive Financial Goal.
👉If you have 15 to 20 years Plan to invest in Equities. It can be a big amount at the end of Investment cycle. The power of compounding would be much greater even if you manage to make 18% To 20% CAGR Returns in 15 To 20 Years. 1 Lac can Turn into 1Cr
👉Don’t invest in single Stock. Take a Basket Of Stocks From Diffrent Sectors which you feel would Do well in next 15 to 20 years. Consumption as a Sector would be the BEST which we would suggest all of you if you have 15 to 20 years vision. Invest more when markets are at lower levels or at lows or invest less when markets are at highs or SIP approach can work Best in Long Term.
👉Try To First Earn & Then spend that approach would help you a lot.
👉Buying a second hand car instead of new ones , buying Phone under 15000/20000 budget, Going on vacation in Off season or by Booking in advance would help you a lot in saving.
This Small Things can go a Long way to create a good corpus at the end of your retirement.
👉Please do share your Ideas by commenting in the comment box.
Disc – All views expressed are personal and for Educational & Study purpose only.Consult your Financial Advisor before investing.