P.V.Subramanyam is the CEO of http://www.subramoney.com , a financial blog that helps the people to plan about their finances.He is an accountant by qualification and a lawyer by training.He has trained at many mutual funds, banks, life insurance companies and in the non-banking space too.
P.V.Subramanyam’s book Retire Rich-Invest Rs 40 A Day talks about retirement planning,Why should one plan for retirement?How to plan for retirement?How much money do we need for retirement?Common mistakes one should avoid during retirement planning? And retirement instruments.
Retirement:-It is the age when you no longer able to do monetary activity. When we think of retirement the first question that comes in our mind is how much money we need and how much of this is already available.
According to RBI, nearly 77% Indians aren’t planning for retirement!
How to plan for retirement?
Goal Setting should be smart
How much money do we need for Retirement?
Retire rich by investing Rs 40 a day
Invest as early as possible
Understand Compounding-Compounding refers to the reinvestment of earnings at the same rate of return to constantly grow the principal amount, year after year. It is a technique of making your money work harder for you.
Common mistakes one should avoid during retirement
Retirement blunders to avoid like consuming your retirement corpus much before your retirement,having no idea about how much to save or invest,hoping that your kids will take care of you.
Avoid Ponzi Scheme like ”25 din me paisa double”
Retirement Instrument
There are many instrument available in the market to invest:-
- Post Office Monthly Income Scheme
- National Pension Scheme
- Atal Pension Yojana
- Fixed Deposit
- Stocks
- Mutual Funds
- Government Bonds
Investors Mindset 