How Do You Say You Have Enough Money To Retire ?
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- čas přidán 11. 04. 2021
- #nri #nrimoneyclinic #financialplanning
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Good one. What you have not included is reverse mortgage of property if you are a single or have no children/wife behind.
Great are the people who make complex things look simple. Good guide to prepare oneself to retire .
Simple, easy to understand for people like me from non-finance background. Thank you for your tips. 🙏🙏🙏
Thank you Dr for sharing.
May God Bless you and your family.
Woth love from Malaysia 👍
One of the best videos that I have seen on this topic. Very nicely explained. My biggest takeway was "take your wife along in investments".. I find it very valuable and have started doing that..
Excellent advise. I listened to so many presentations to get a hang of how to plan for retirement and your systematic, lucid and balanced presentation is the most valuable one. I am a bit late in planning and behind schedule but I have a clear vision of the path I should take.
Do you know no one knows the real facts about Hinduism until date!!!!
Why?
Because these DAITYAS ( Muslims) steal your tapas in the beginning only, otherwise in case you wait until end of it,” it is stolen by the DAITYAS for their own betterment “.
Kanchankumar anandmayi
Great & very Deep FA On our Retirement goal
Dr Chandrakant, thank you for a very good insight on financial planning. Your 4% rule gives good confidence to me.
Very well summarised. Only one thing as you grow old your ability to manage multiple properties will be limited. And it’s hard to delegate this entirely unless you have that kind of resources.
Very well presented. It should be a part of the financial education for everyobody.
Thank you! I liked the way you explained it.
Great, useful looking forward to meet you soon.
Superb, realistic & approachable explanation.
Take complete retirement, I mean Sanyas, when all your desires are over and done before retirement, and your money problems all sorted out, then one is good enough to live the life in total peace. Kanchan kumar
You still need to eat and have medical treatment.
@@tintunbirha ddddz
Vanaprastha
Sanyas ashram 😂😂
If you dont splurge money after retirement, you will be fine. Spend only on necessities.
Immensely informative... Thanks for the great advise...
Excellent and very dignified advise for people 🙏
Great video sir!!!!!! Thank you 🙏🏻
New subbie! When you pulled out that 100 envelope challenge is a beast. I vote summer challenge Great job!!
Great to hear your advice. May God bless you Sir
Very nice explanation in favour the topic.Thank you.
Sir thank you for the podcast. Would you be kind enough to provide your insight on how to invest during inflation
Couldn’t agree more. Excellent advice
excellent sir on the retirement advice . Thanks Narayan raghavendra
Bhatta Ji,
This video is very useful. Among your best videos.
Very well presented .
Thanks a lot 🙏
👍👍👍
So nice of you. Please subscribe and keep sharing the videos
Good presentation. Easily understandable.
Now a days gold is also a good assest for retirement particularly in paper format. It's a good hedge against inflation. If you can pls discuss regarding the same. How much percentage of your portfolio should be gold in paper format
Middle class Monthly Income avg
1940 - 10Rs
1960 - 100Rs
1980 - 1000Rs
2000 - 10,000Rs
2020 - 100,000Rs
2040 - 10 lacks
Assuming I retire in 2040 then I need 50% of projected income which is 5 lacks of passive income (without any liabilities) to have very comfortable golden years.
Sir you are Simply the Best Guide & Guru regarding Financial Advices.
Hare Krishna
Hare Rama
Almighty Bless You.
🙏👌👍
So nice of you. Hare Krishna . Please subscribe and keep sharing the videos
The inflation in UK is 8% this year. The bank interest rates are still 0-1%. Certain events change the whole calculation so better to have a very good buffer.
Very very appropriate and rational advice for retirement planning
Very well explained. Thanks..
Excellent informative topic. Thanks👍
Thank you for vaulable insights. Will contact you to discuss further.
Nice video i have got best information about retirement
Thankyou Sir
Excellent information and one of the best advise.Keep it up Sir.
Am a practical person pertaining to budgeting. Spend within my means & cautious not to fall into the over spending with impulse purchases.
Sir Thank you so much for your guidelines. Good Health insurance cover should be 20 to 25 lakhs. Base policy 10 lakhs and top up upto 25 lakhs. This is my opinion. Warm Regds, Chandrasekhar
Good morning sir.
I have subscribed your channel very recently.🙏🏻
You are doing great.👍🏻
I have one query that if one is retired from a government job and getting regular pension, for those will there be a different formula than this of 4% ??
Please share your views.🙏🏻
I like your videos topics and clear pointed coverage. On this topic of how much funds are good to retire I would have liked you to cover one specific NRI aspect. I would even like to consult you for that. There are many parents sponsored by their children for Green Cards and permanent .status to live abroad. These retired well to do parents live with the children but they would like to spend money for their families as some contribution whether children want it or no. They do carry very good corpus in India and earn a lot but how they can be helpful to children abroad while either living abroad or both here and there 6-6 months.Can you cover this aspect please
Very informative n useful.thankyou sir
Thanks for the useful info.
Super Advise. Thank you, Sir.
Diversification is key in retirement planning.It’s important to mix a wide variety of investments within a retirement portfolio.The rationale behind this is that a portfolio of different kinds of assets will, on average, yield higher long-term returns and lower the risk of any one holding.There is no good or bad assets.An excellent asset class can become mediocre asset class over a period of time and vice versa.Ex.Real Estate.
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Pomp⁰0.
Sir, now your no. of subscribers is rising high as 30k. It took time to reach 10k. From 10k to 30k it didn't take time. I think it will reach 50k and 100k. I appreciate your voluntary service. It gives me a lot of benefits.
So nice of you. Please subscribe and keep sharing the videos
@@NRIMoneyClinic Sir, when I see your video first time I became your subscriber. I cleared some doubs through your WhatsApp no.
Superb one. Great eye opener
Thanks Sir, My doubt get cleared by watching this video
Thank you very much for your feedback
How well u explain.....
One more thing to be considered for rental income is the cost of maintaining (repairs) of your property - the older it gets, the more chances of repairing...also it depends if you want to live a simplistic or lavish lifestyle...you can live with the first one for far less than the second... golden simple rule is spend a bit less than you earn - in other words, keep saving as much as possible - of course, without being a miser...!!!
Periodical maintenance is a must. When a tenant vacates properties should be made weatherproof. Cleaning and revamping once in three yrs after each tenancy is a must. I'm in this rental real estate bysiness.If a tenant vacates before a year he should be liable to pay painting, toilet cleaning, chimney cleaning charges. If they stay for three yrs no need to pay painting charges. Cleaning of toilets electric chimney and general cleaning should be paid. Periodical maintenance of electrical and plumbing must be done using a network .passive income by way of rentals is a must for NRI s.investing in one bedroom two bedroom flats with all modern fittings and modular cabinets will keep the rental machine running. Don't invest in one big independent house or a big villa. It's only a drain on your purse
Small savings, recurring deposit and changing the money into gold is another investment which can be liquefied in case of emergency cash requirement. Jewel loans, at low interest is available in all banks
A very nice presentation and guidance.
Glad you liked it. Please subscribe and keep sharing the videos
Good eye opener 👍
Mr. Chandrakant, kudos to you. Nicely explained how much is enough for retirement. I liked the scenario 2, because I don't need to depend on someone else to pay me. I can diversify in FD, Mutual fund and other govt retirement scheme to get 4% annual return post tax. But in scenario 1 there are difficulties to get rent on time. There may be some period when there is no tenant and in that period you will not get any rent though other expenses like maintenance, minimum electricity payment, property tax payment, some renovation must be there. We may get bad tenants too and for that you have to spend a lot if something goes wrong. You may have to go in legal proceedings if the tenant does not pay you or you want to remove him. Why should we take all such pains during retirement. Liquidity may also be an issue if your property is not in a great location. In case of urgency you may not get buyer. So scenario 1 has many loop holes. Scenario 2 is best suited to me.
Thanks sir, you are 99% correct. I say this because these days rental income is not inflation proof, specially in INDIA. Thanks once again.
It generally is.. For eg.. I have a 3BHK flat in Bangalore that fetched 9K rent in 2009 and in 2023 the rent is 32K.. this translates into a 9% growth which is above average inflation of 6%.. obviously the property value the gone up 6 times !! which is very profitable
Very useful info sir... thank you.
Thanks for a great presentation..... only risk I see is about rental properties being a retirement income generating assets is that the possibility of having bad tenants who don’t pay rent on time or don’t pay at all , and at that age who will fight the tenant in courts ... and the cost of refurbishing the property and taxes ... rental income is taxed at slab and property taxes are extra .. SWP of mutual funds are the best solution
Wats SWP of mutual funds
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Model tenants act is here...if your state passes it .. it may help
@@rajprema.6425 = Systematic Withdrawal Plan
There is a lot of "What Ifs" on all investments and in our lives too. That's why he mentioned that you should not have income from single property which can is risky.
Theoretically right. We have to pay taxes to live. One has to consider taxes when calculating. G ST, TDS etc. burden.
Agreed.
Thank you sir for great knowledge
Sir, thank you for this video on retirement and it helped me to think and calculate where I am now. Your way of presentation is so good.
You are most welcome. Please subscribe and keep sharing the videos
You explain very well
shukran , thank you, Dhanyavad, Abhar, Shukriya..
Nice one sir......your language is so soothing.
Thanks a ton. Please subscribe and keep sharing the videos
Excellent information sir
Good advice by Mr Bhatt Saab
Very very useful guidance 👌
Excellent explanation sir
Namaskaara Bhattare. Very good video. Will hope to meet you when I am in Bengaluru.
So nice of you. Sure we could meet . Please subscribe and keep sharing the videos
Dr.Chandrakant ,
Thank you for your detailed explanation about retirement and Investments. I have learnt a lot from your good advice . I live in Canada and I visit Dubai/India every year. Hope to meet you in Dubai to discuss about investment.
You are always welcome
Really helpful
Appreciate
It is a pretty decent advice. After retirement most of our unnecessary wants are given up . So with a proper planning one can lead a decent life and add to the corpus at the same time.
However, this concept is based on an " all okay" concept. We should also keep some amount aside for unexpected needs like medical needs.
Unfortunately world changes and no one’s plan can be good.
It’s the best thing if we look after each other, money or no money
Nicely presented the plan
Thank You Please subscribe and keep sharing the videos
Very good informatiom
Very well explained. 👏 Thank you.
Thank you so much . Please subscribe and keep sharing the videos
@@NRIMoneyClinic 🤣🤣🤣
Very very nice Sir Excellent
Very nice illustration. Effective Presentation style.
Thank you! Cheers!. Please subscribe and keep sharing the videos
Very practical presentation. Even a layman can understand very well.
I agree with you
Thank you so much . Please subscribe and keep sharing the videos
Excellent advice. Would be more interesting if you give illustrations 🙏
Noted!. Thank You Please subscribe and keep sharing the videos
@@NRIMoneyClinic Yes, illustrations will really help. This is a very interesting topic.
The problem with rental income is many times the tenants don't pay any rent at all or pay whenever they feel like
Tumba Chennagidhe Sir
Good one. But of late, interest rates were kept low whereas real inflation is pretty high. Traditional rules seems not really working.
It is a real risk during modern times ...unreal interest rates
What do u mean by rental real estate. In one video you mentioned that income from house rent is only 2%
When you are too old it is hard to chase tenants
Sir please make a video on personal accident insurance plan, in spite of being so cheap why is it so less advertised?
Great content. Thank you Mr. Bhat
My pleasure. Please subscribe and keep sharing the videos
Sir, Already subscribed. I will share with my friends and colleagues as I can see very useful information is covered in all your video topics. Once again many thanks and God bless your work.
Excellent explanation
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What can we do...after 4% rule???
Means where to invest and how to grow this money???
I am retired person and my wife is still working. She is have more 6 years to go for retirement. This video is very interesting. The draw down of 4 % is very good way to look for the corpus required of retirement money. Again the rental income are getting lower and lower specially for residential properties, since the property value is very high and there are enough inventory in the market. Most of us have the house we stay. How can we monitise this property. Do we have any product in India to benefit the retired person who do not have enough corpus based on the draw down factor 4%.
What I have done, I can share. I have searched for decent old age home room such that the rent I get is more than double of what I will pay there. I liked the food there. I will shift there, and stay for five to seven years, using this rent. So five to seven years, I will not touch main corpus for my basic survival, and that will compound. I will review the status then. May extend for another 3 years if need be. Right now I am not moving because of COVID.
Very informative...
Glad it was helpful!Please subscribe and keep sharing the videos
Great video sir . All your videos are Gems 💎💎💎 ..I recently took Hdfc life Sanchay plus for part of retirement.. Will the company be stable long time sir . Safer to continue?
Absolutely safe . Please stay invested. Please subscribe and keep sharing the videos
Thank you sir for your reply and fabulous videos which create financial literacy, most needed one👌👌 . Sharing the videos sir ⭐️⭐️
Sir, can you please explain RNOR when he should close nre fcnr accounts. Can Rnor maintain Nre fd and fcnr fd
Great information
DR BHAT U R GREAT MAN
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How about investing in blue chip companies in the stock market? With steady dividends and high liquidity, it's my choice. My dad invested during his working days, now he is 90 and bedridden. His dividends are seeing to his needs and the extra are being enjoyed by the children.
Wow awesome
Money is of less of an issue these days. Bigger issue is food, maintenance of home, planning your days engaging friends
If my present monthly expenditure = my present monthly government pension how much money should I have?
Nice analysis. Subscribed.
Agricultural land is a good investment for retirement. One can get long-term benefits from fruit trees. The price of fruit can beat inflation.
That sounds interesting.
Which fruits you are talking about?
@@dadu251 Mutual funds diversify their investments through a variety of businesses in order to minimize risk and maximize benefit. Similarly, various fruit trees may fulfill the same purpose. Different seasonal fruit trees would be better because they will produce fruit throughout the year, allowing you to earn money throughout the year. It would be difficult to sell all of the fruits in a local market if we invest in only one kind of fruit tree. Start with local fruits and work your way up to international fruits.
If the land is far from home, masala trees like bay leaf and the cinnamon tree would be more suitable.
Makes good sense.
Very good
There is no proper health insurance for Hiv patient at age 55yrs pls recommend if now to u r knowledge pls recommend regarding this pls suggest best
the best way to retire is to join a Govt job with fat salaries to save and fat pensions and fully covered medical benefits for life to self and dependants.. plenty of " additional ways " to make huge money too for spending lavishly. the best advice to youngsters should be to encourage them to join Govt service somehow..
Exactly. LOL