Most of us will be dependent on our kids to take care of us in retirement.
Don’t believe me?
In the US 🇺🇸 only 4% of people become financially independent by the time they turn 60. Imagine India 🇮🇳 where the wealth inequality is even worse.
Why does this happen?
Most of us don’t take retirement seriously. We are all “going with the flow” or we think achieving financial independence is next to impossible.
Let me bust this myth once and for all.
👉🏻 Step 1: Figure out the target number. 100 Crores??? Kya phook ke aya be? Most of us think such high numbers coz we imagine the cash lying under our mattress doing nothing. We will be investing it bro. Let’s say you spend ₹50k per month. 6 lakhs a year. If you want to attain retirement at 49. Inflation adjusted expense 19.35 lakhs a year. Money you need in your bank while watching Netflix all day: ₹5.8 Cr
👉🏻 Step 2: Start an SIP towards this. If you assume 10% returns you need ₹48,000 SIP.
Now I know. You can’t invest so much. But your future self can. Let’s assume you invest 10% more every year.
Now all you need is ₹20,000 SIP.
Still too much? Start now and increase drastically later when you earn more. . . . . . . . . . #financewithsharan #investing #financialfreedom #retireearly #retirementplanning #moneytalks #personalfinance #investingtips
