You want to be an investor as early as possible, even if the amount is small. He is also investing into equity mutual funds and expects the same rate of return for the remaining 15 years, until he turns 50. He is investing into equity mutual funds and will likely earn about 15% per annum over the next 25 years, until he turns 50. You lose out on time value of money and power of compounding both. Procrastinating is bad for your Retirement. What are the investor traits that affect your retirement corpus? Investor Trait #1: Procrastination
What we don't realize is that the success of all our life goals, from buying a car, to our children's educations, to going on a family world tour, to retiring young and retiring rich, depends on our investment behaviour. The wealth that you could have built for this crucial goal, does not get built. With each well-intentioned step you take along this path, your biggest goal of them all suffers. Your investments receive just enough of your attention for you to feel like you're doing something useful about it. The expenses continue, and your saving, spending, or investing continues as it did earlier. You get married, then have children, educate your children, somewhere along the line you buy a home by taking a home loan. You glean investment facts haphazardly from your colleagues and without really verifying the data, make further investment decisions.įor the next few years, your focus is mainly on saving tax and then you start to think about your life goals. Your HR talks to you about EPF so you know about that too. Then you got your first job and started to mingle in the workplace.Īt work, you interact with your colleagues, slowly you hear about people making investments in Tax saving mutual funds, or in their PPF. Your investor psychology began to solidify. Your investment behaviour started to get set. You invested in instant gratification, as do most youngsters.įrom this young age, your activities, your spending patterns, formed a habit.
Not much, if you were like most children in school and college. You most likely spent it on food, toys, games, movies and other entertainment, and travel. Think back to the first day you received pocket money. Why Should You Plan for Your Retirement?ĭid you know that from the very first day you receive money, not at your job, but the pocket money you received as a child, you have been an 'investor'? Now that you know the amount you would need for retirement, let’s see the important reasons for retirement planning. It generates a result whereby you will be highlighted how much you need to save each month to ensure you have sufficient funds to live fulfilling retired life.
You can take into consideration your future source of income, inflation, growth rate of investments (pre and post-retirement) and so on. These assumptions are then converted into the projections. It will help you to draw a map for your financial plan under few assumptions. PersonalFN Retirement Calculator is one of the most valuable online tool. This retirement calculator requires some basic inputs from your side such as your retirement age, life expectancy, inflation, expected return on investments, your current portfolio size and expected retirement expenses.
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Retirement calculator helps you understand how much you need to grow your wealth before you retire and plan for it accordingly.įind out how much you need to save by your targeted retirement date for easy and hassle free sunset years of your life. If you wish to live a better lifestyle of what you are living you need to know the necessary retirement funds needed. Further, you can use this Retirement Calculator to find out the future value of your current expenses. Retirement Calculator is an online tool which will help you to calculate your retirement corpus. Definitive Guide To Successful Equity Investing.10 Steps to Select Winning Mutual Funds.The Complete Guide to Public Provident Fund (PPF).Your Comprehensive Guide to Tax Planning 2019.
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How To Become A Millionaire With Mutual Fund.Understanding Mutual Funds - Equity, Debt, and Gold.Your Guide To Build An All-Season Mutual Fund Portfolio.Guide To Value Investing With Mutual Funds.Guide to Long Term Wealth Creation With Equity Mutual Funds.Your Guide To Retire Rich With Mutual Funds.How To Define Asset Allocation And Invest Smartly.Guide To Plan Your Financial Goals With Mutual Funds.10 Basic Tips To Pick Right Mutual Funds For Your Portfolio.The Complete Guide to Public Provident Fund (PPF) – Edition 2021.Your Definitive Guide To Buy Life Insurance.4 Best Large Cap Mutual Funds to Invest in 2022.Comprehensive Financial Planning Service.
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