How Do You Say You Have Enough Money To Retire ?

#nri #nrimoneyclinic #financialplanning
You can reach to us by sending a message on WhatsApp
WhatsApp Number: 00971 551124596
Or click on the link below
wa.link/2jh25k
Services offered by NRI Money Clinic
Life & Critical Illness Insurance.
Child education
Emergency Funds
Retirement Plan
Health Insurance
Wealth Building
Tax planning ( investments to minimise tax impact)
Dollar investment ( Only for NRIs in Middle East and Africa )
Mutual Funds ( NRIs other than in US & Canada)
PMS ( Portfolio Management Service)
Fractional Real Estate
Cash flow planning (Pension, Guaranteed Return plan , Fractional real estate)
Tax filing and chartered accountant services. (Outsourced services)
Wills and inheritance planning. (Outsourced services)
Property record legal verification (Outsourced service)
Real Estate in Dubai (Outsourced service)
Real Estate in Mumbai and Goa (Outsourced service)
In case you are interested in using our services you can send a message on Watsapp:00971 551124596 or click on the link below
wa.link/2jh25k
To know more about our business and our business model please watch the below video
lnkd.in/g7cj2rgJ
Our Website: www.nrimoneyclinic.com
LinkedIn: / nrimoneyclinic
Facebook: / nrimoneyclinicofficial
Instagram: ...
Whatsapp: [phone]
Or click on the link below
wa.link/2jh25k

[@tapanajmera9889]

I am from middle class family my monthly expenses might be 40-50k..I am 27 lets assume I want to improve my living std so I can say with 8% inflation every year for next 30 years my monthly expenses going to be around 550000 thousand to maintain same life style I take 8% because 6% inflation is what govt show in real life its always more what govt show.. I want to improve my life style to we can say from 50k to 2 lakh for safer side I knew I am not gonna spend that much still I gonna thik this much I gonna spend so after inflation lets take 20 lakh monthly exp so 2.4 cr yearly lets take 2.5 cr As per sir 25× is good amount so 25×2.5 means I gonna need 62.5 cr when I retire don't get me wrong but to be safe I gonna need 75cr at the time of retirement 75 after 30 years means around 7.5 cr now.. Don't be stupid by just safe 3,5,7 cr you gonna use it in few years.. Just imagine when you was young I mean 30 years ago in 1993 gold was maybe around 2-3k now its 60k Everything was so cheap 7.5 cr after 30 years is nothing so thik wisely So for 2-2.5 lakh monthly expenses now means 24 lakh to 30 lakh year exp to main great life you need to think it 10× after 30 years... If you think 50k or 1lakh is enough for you 1lakh means 10 lakh of future means 1.2 cr of future per year so 25× must be 30 cr so you atleast need 30 to 35 cr... 3 cr is nothing belive me Yeah if you gonna earn on that amount lets say you gonna earn 8% than you can maintain your retirement corpus 😂 In that case you might gonna need not 75 cr maybe 50 cr is enough..for 2-2.5 cr yearly exp

[@biswajithota2524]

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.

[@dstgre]

When you are too old it is hard to chase tenants

[@hitenrawal7468]

Great & very Deep FA On our Retirement goal

[@marleneflux3790]

is it advisable to buy a house and lot with retirement money?

[@gopinath_ravi]

No. Maintenance issues and runnin behind plumbers and electricians. Avoid. Consult a financial advisor for planning. Rental income is not a great source, especially after retirement..

[@girishganjawalla310]

Very very appropriate and rational advice for retirement planning

[@VirenderKumar-gm4jb]

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

[@tintunbirha]

You still need to eat and have medical treatment.

[@spikerwlan]

@@tintunbirha ddddz

[@akhandbha]

Vanaprastha

[@manudreamboy]

Sanyas ashram 😂😂

[@rajagopalannarayanan9364]

If you dont splurge money after retirement, you will be fine. Spend only on necessities.

[@sha2003]

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.

[@vandanaraoyalamanchi9813]

Three questions sir a. Is the 25 times annual expense rule valid at the age of retirement or any age? b. Is the 25 times annual expense rule valid even in India, considering that our inflation is higher than that in the US or many of the developed countries? c. Can the value of other assets be also included, like house value, gold value, etc., while considering the corpus required ..i.e., 25 times annual expense amount. So if house is 2 crore worth and savings one crore, will the corpus be 1 crore or three crores. I am asking this because it is not easy to dispose off assets such as real estate in the old age. There are taxes to consider and also the lack of mental alertness, which could lead to major mistakes.

[@abhijitnaik1695]

He’s gone purely on liquid assets. Having real estate assets would be an addition and could be used as a buffer

[@vandanaraoyalamanchi9813]

@@abhijitnaik1695 Thank you for clarifying that. :)

[@GetYourselfALife]

Leave the house you live in, and gold you consume, always when you calculate your networth.

[@vandanaraoyalamanchi9813]

@@GetYourselfALife Oh great...makes sense..

[@liberated-midager]

Ideal situation according to me is 1 debt free property where you stay. 1 additional rental property and then the liquid assets that follow the 25X rule.. It will help modulate when the markets are down and you dont want to drawdown on your investments, as you will lose a lot..

[@chandrakanthrao3682]

1. List of Assets with full identification numbers and locations: lockers, property documents, demat accounts, receivables pronotes and hand loans, partnership and LLPs in which partner, list of loans, guarantees, mortgages 2. List of Uptodate passwords and email accounts 3. Mandate on how and where to conduct last rites, body part’s donation contact details, donations 4. Living will : instructions to near relatives on extent of medical treatments and artificial prolonging of life , list of medical experts, location where soft copies of medical records kept

[@j.r.6517]

Excellent informative topic. Thanks👍

[@gpvacancy8400]

thank you Sir. Great information. I have a question. If you draw 4% each year and you earn 6% interest on your portfolio, will your money ever finish or not. I am 45 year old and want to retire soon. As I need at least 35 year retirement, I wnt to know if my portfolio will last or not if I earn 6% return on my investment each year and draw 4%.

[@gopinath_ravi]

Need a financial advisor for planning these sir. 6% and 4% may work for 60 age guy. Not for 45. If You live for 55 more years (most likely 😊), you ll be in soup. Should take some equity exposure.

[@gopinath_ravi]

Inflation is not 7-8% sir. It's for sure 10-11%. Before fifteen years we dint spent for internet, mobile or most probably a car, movies were cheap. Popcorns were cheaper. It ll increase as we move along. 4% rule won't work for our country.

[@sureshpeshawaria347]

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...!!!

[@indhuskitchenandvlogs]

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

[@indhuskitchenandvlogs]

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

[@swatikhanduri4824]

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.

[@VirenderKumar-gm4jb]

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

[@th.gourakishoresingh8811]

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.

[@NRIMoneyClinic]

So nice of you. Please subscribe and keep sharing the videos

[@th.gourakishoresingh8811]

@@NRIMoneyClinic Sir, when I see your video first time I became your subscriber. I cleared some doubs through your WhatsApp no.

[@tirthankar1966]

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

[@hemantmamtani197]

Good one. What you have not included is reverse mortgage of property if you are a single or have no children/wife behind.

[@rakeshsachdeva1521]

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.🙏🏻

[@roy2k03]

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.

[@yedatatya1]

Dont agree with his thoughts, here is why - How is rental income a wise investment if we get only Rs 20000 as rent for a 1.5 crore priced flat property?? On other hand, We would get 1 lakh rupees per month as interest even if we just keep the 1.5 crores in bank FD at 7% (senior citizen scheme) ... so which approach is better??? Going by his logic retirees should have 4-5 properties to generate that much rent. How many NRIs even have that much properties and what about upkeep and maintenance of those properties when in retirement age you cannot even look after yourself properly due to age??

[@NRIMoneyClinic]

You are spot on . Please subscribe and keep sharing the videos

[@rajprema.6425]

@@starxd5697 . See yes ur rite. Den how generate income? All of the pepl cannot own properties n rent out na...wat r other ways to sustain?...

[@venkateshsubramaniam1386]

our properties are highly valued with less roi also should invest in stocks from early age take good health insurance reduced all unnesscessary spending join black money retrieval movement by dr subramaniam swamy

[@yedatatya1]

@@starxd5697 Even by your calculations one would need 3 properties just to rent out, each valued around 1 Crore to reach the 1 lakh monthly of passive income at retirement. Also, assuming you paid 20% down payment and get 35K pm rent on your 1 crore property you would still be short of 40-45K per month for EMI on each of the 3 properties. If you have paid out all cash for the 1 Crore property which means you you get just 35K per month on 1 Crore. Do you still think those are the best returns? Also, I don't know where you have invested in properties but residential rents in Pune range from 25-35K for homes priced nowhere below 1 crore and often 2+ Cr. Then we have monthly maintenance to the society which is 2-3 months of rent amount, yearly property tax and other general upkeep of the flat which is 1 month rent - so effectively you are getting 8-9 months in rent for a year, not Rs. 35K X 12 months. Calculating all this, living in a rented property is anytime advisable in bigger cities now instead of buying unless you have 1-3 Cr lying around or you just want to buy a property. Commercial properties may be having different returns, I have not idea about those.

[@yedatatya1]

@@starxd5697 6% of simple interest on lets say FD gives you 75K per month for 1.5 Cr invested - use any online interest calculator. Rest of the 25K can come from rental income to make a total of 1 Lakh per month of passive retirement income even without touching the principle amount. All this assuming then that you have at least 2 residential properties which are fully paid off (no home loan pending) - you stay in one and rent the other (should generate 25K per month effective rent after maintenance & property taxes) and have 1.5 Cr in hard cash invested in safe bet instruments returning you at least 6%. Thus effectively to retire with 1 lakh per month of interest-amount-only utilization with completely owned property to live in (no rental charges to worry about), not utilizing the principle amount invested, one will need 2 Cr (1 Cr each for 2 properties purchased out right with no loans outstanding) + 1.5 Cr of hard cash in FD etc = at least 3.5 Cr of individual net worth.

[@TheTjpereira]

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.

[@rajprema.6425]

Wow awesome

[@latakuppili543]

No social security from our govt it's high time our govt should change certain laws so that people who are paying taxes should get social security benefits from the government

[@sandipswain3299]

ur assumption is , that age is 60 .... but many ppl can not hv jobs till 60 , in private IT sector for example

[@meetan-]

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..

[@vandanaraoyalamanchi9813]

Exactly. LOL

[@JustChill76]

The problem with rental income is many times the tenants don't pay any rent at all or pay whenever they feel like

[@swamidxb]

I dont agree with rental livelihood, it may work in Mumbai but other places like Chennai its 0, First Rental return is low then the several costs od mntc finding tenants is not a good strategy in retirement when you need peace of mind... Agree????

[@swarnayn6398]

Very well presented . Thanks a lot 🙏 👍👍👍

[@NRIMoneyClinic]

So nice of you. Please subscribe and keep sharing the videos

[@vijayramani5613]

Hi, could you pl. shar some retirement calculator applicable for India ?

[@NRIMoneyClinic]

Follow common sense method discussed here . Calculators are useless . Please subscribe and keep sharing the videos

[@vandanaraoyalamanchi9813]

I agree. Retirement calculators are far too general and will actually end up giving you false sense of security. Each case differs considering that people differ in their lifestyles preferences social circles etc. You would think it below you to eat in dhaba, I would be fine with it. So costs in your case would be higher, and in my case lower.

[@blissfullife080]

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.

[@NRIMoneyClinic]

Thank you for your feedback . Please subscribe and keep sharing the videos

[@bukkamallikarjun1097]

Pomp⁰0.

[@sydneyfernandes5982]

Theoretically right. We have to pay taxes to live. One has to consider taxes when calculating. G ST, TDS etc. burden.

[@vandanaraoyalamanchi9813]

Agreed.

[@vilasbondse7928]

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

[@prakashabhijah4397]

Your advice is only for high earning community.. Educate us how a middle class whose salary band is equal too or greater than rs.30,000/... How do we create weath..?

[@vandanaraoyalamanchi9813]

You have not mentioned your age, and whether you own some home or other real estate anywhere. Nor have you mentioned your existing liabilities. How is it possible to tell anything without required info? Do you have health insurance? If you do, how much and is it benefit or indemnity. How much are you paying for it. Do you have life insurance coverage? Of how much. How much are you paying for it. The advice here is general. Specific advice requires specific information.

[@prakashabhijah4397]

Your advice is only for high earners.... Ask us to take high insurance value and real estate money parking...all is only upper middle class people only.

[@vandanaraoyalamanchi9813]

Not true. This is a beginning even for lower class people. Orienting folks towards savings and what they would need is the objective of such general podcasts. I know many who used to travel unnecessarily without considering their retirement. Only to face the reality at a later date.

[@sreedhar75perupally]

Sir you are Simply the Best Guide & Guru regarding Financial Advices. Hare Krishna Hare Rama Almighty Bless You. 🙏👌👍

[@NRIMoneyClinic]

So nice of you. Hare Krishna . Please subscribe and keep sharing the videos

[@iqhirani861]

IF I RETIRE AT THE AGE OF 71; DO I HAVE TO MULTIPLY BY 25 OR LESS?!! (Assuming my monthly expense is 1L)

[@shub74]

I think calculations are presumed based on retirement @ 60

[@vandanaraoyalamanchi9813]

Good question. I would think it won't harm. But it should come down, yes.

[@iqhirani861]

@@vandanaraoyalamanchi9813 THANKS VR.... UNFORTUNATELY I CANNOT CONNECT TO THIS SITE; WHERE THE EXPERT CAN ANSWER SOME OF THE QUESTIONS ABOUT SETTLING DOWN & PROPERTY MATTERS IN INDIA UPON MY RETIREMENT....even I provided my phone, email etc..

[@vandanaraoyalamanchi9813]

@@iqhirani861 The gentleman has given his whatsapp number. The video top right. Even so, I feel at 71 you should expect to live 20-25 years. :) Indian inflation is higher. So international thumb rule of 25 years is a tad on the lower side. Nevertheless, it is a good rule. :) Much depends upon the place you will be settling in. In Mumbai, you would need almost 30 to 40 times your annual expenses, because cost of living is high. The same thing, in a place like Hyderabad, you could do with 20 to 25 percent. Likewise, what is your lifestyle, what is your social life, etc., affects your requirement too, as inflation in each of these differs. The thumb rule mentioned in this is considering average inflation. I feel you should ask this gentleman what would constitute YOUR annual expense. We all know our monthly expenses. But there are provisions that we need to include for annual expenses. Like for health insurance, life insurance, building repairs, income tax, property tax, auditor fees, vehicle tax, dental expenses, eye related expenses, guests and gifts, cable charges, clothes and shoes, road tax, asset repairs, asset / vehicle / gadget replacement costs, capital gains taxes should you plan that way, new technology adoptions, later year ayah charges, travel and entertainment provision, exigency provision etc. So I would say a comprehensive figure needs to be arrived at. Your expenses would differ from mine. So I cannot tell you the amount. But I am giving rough idea as to what should be considered while determining annual expense. The asset replacement cost is not to be feared. How many years ago did you purchase the vehicle? Give it 8 years life. Max. Divide the cost by 8. That is the amount of provision you could consider. Alternately, an acceptable vehicle's road cost, divide by 8. Set that aside by investing in tax savers. For dental repairs and eye care, I could say about 3000 bucks per month. Guests and gifts can be lowered. Clothes and shoes too. New technology adoption costs too. We don't need new cell phones every other year. I would think such costs increase the 1 lakh to 1.25 lakhs or so. That when multiplied by 20 should suffice I feel in your case. If you can provide higher, it would be great. 3 years in life...you should provide for some sort of incapacitation. The ayah charges come there. I took the present rate per month, multiplied with 12 and then with 3 and compounded it at 10 percent for 25 years. This I added to my retirement corpus requirement. Agreed this is too high. But it will cover my funeral expenses if anything remains. 20 percent of your health insurance products ..you should provide in cash for dental care and eye care, which are usually not covered under any health insurance products. I believe you are aware that there are two types of health insurance. "Indemnity" and "benefit". Most of the products available are indemnity and they may pay only 60 to 65 percent of CLAIM not sum insured. Benefit supplements that, or if the entire CLAIM is honored, then benefit policy can leave you with surplus that can be used for caregivers later in life or any other claim deficit. LIC Jeevan Arogya is an example of benefit policy. Taking two will help to cover many expenses going forward. No..I am not an agent, nor related to an agent, or friend of agent, or working for agent. LOL Just sharing how it can be done after learning it the hard way. BTW ..LIC Jeevan Arogya has entry age limits. So you do need to buy it at the earliest. You need both benefit as well as indemnity health insurance. :( Buying bulk health insurance in base indemnity policy will be extremely expensive. But you could consider buying a base of 10 or 15 lakhs and take SUPER TOP UP for another 10 or 20 lakhs. Health insurance companies that offer products for senior citizens are a. HDFC Ergo b. Star c. ICICI Lombard d. Cigna TTK (not sure) e. Manipal Cigna I have limited knowledge. Do read which policy offers coverage suitable to the health conditions prevalent in your family, and also read them annually because some changes are there almost every year. Overall, 25 lakhs with restoration benefit will help. AVOID HEALTH INSURANCE PRODUCTS WITH SUBLIMITS. They come cheap but can deplete retirement corpus. Feeling lazy to describe them. AVOID FLOATER as age of the oldest family member will be considered for fixing premium. However, the difference can be negligible if age gap in the husband and wife's ages is not much. DO CREATE AWARENESS about your finances and financial plan in your spouse. When the need arises she could do the running about instead of you having provided well, but time lapsing for claims. Just some tips I could share based on personal experience. I considered 10 percent inflation. CPI. Financial advisers do not suggest any figure. Do remember you could have capital gains tax on real estate asset if you plan to liquidate it later. Providing for it in your annual expenses upfront will help. I did not earn enough. So my plan is to go and live in an old age home for 5 to 7 years. The rent from my flat will cover my expenses there for that period. Effectively preventing me from eating away my retirement corpus for five to seven years and extending may corpus, allowing it to compound. Hope this helps. All the best.

[@iqhirani861]

@@vandanaraoyalamanchi9813 YES I TRIED ON WHATSAPP; for some reason it doesn’t connect me…. IF THE G’MAN TRIES FROM HIS PHONE to contact me…. I can get only the HI message; I could be connected…but CAN’T FROM MY END TO HIS END

[@pinakigupta6228]

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.

[@VirenderKumar-gm4jb]

Only the fools do not have money for easy retirement.. well other wise they should save enough money for that DDay!!! And take Sanyas! Next to earn points so that they do not take births time and again. Kanchan

[@vandanaraoyalamanchi9813]

Disagree. Sometimes social obligations are way too many. Parents would have had more children, and may not have managed to provide for good education to every child. Effectively, the child does not land a well paying job. Sometimes it is responsibility of siblings. Sometimes it is unexpected disease or accident. The object of this podcast and similar ones is to orient folks who can help themselves so that those who are unfortunate for whatever reason can be helped by charities. A little bit of empathy makes all of us great human beings. Good retirement fund post life?

[@vs5948]

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?

[@NRIMoneyClinic]

Absolutely safe . Please stay invested. Please subscribe and keep sharing the videos

[@vs5948]

Thank you sir for your reply and fabulous videos which create financial literacy, most needed one👌👌 . Sharing the videos sir ⭐️⭐️

[@utubesanjay]

Love your vids. Subbed.

[@jhvzff4357]

A very important thing to be added. 2% additional cost to your current standard of living must be the part of planning for future years for new component in our living style. Unlike earlier basic needs of roti kapda aur makan is not the case now..because in last 15 years addition we see in our basic needs are tv paxkage, wifi, mobile data, new devices with updated version every 3 years, netflix, amazon prime etc etc. God knows what else to come to be part of our necessary needs. What is luxury today will turn normal.and basic in few years.

[@NRIMoneyClinic]

Point noted , Thank you Please subscribe and keep sharing the videos

[@rajprema.6425]

True

[@iamup1]

Point to be noted.

[@tamashbeen6610]

Hmm....assuming that you will die at 75 is a very dangerous assumption in the West. People are living much longer with improved medical care . Retirement multiple should be 40 even for upper middle class in India.

[@tamashbeen6610]

PS - good video overall

[@vandanaraoyalamanchi9813]

Oh wow 40? ... not sure. 30 should be more than sufficient I feel. Kinda many expenses overlap. I need petrol for my vehicle everyday. At retirement, it is once in a week. I can opt not to purchase new vehicle in old age, so no asset replacement cost. I can use autos and taxis which will work out cheaper. I could stay in some old age home for 5 years letting out my flat. This would cover all my expenses in old age home, and prevent depletion of my resources for five years. Effectively, better utilization of resources. For emergency fund .. I need lower provision as i do not have to provide for clearing loans, paying children's education, car loans etc. The ayah charges for the last three years of life can be planned with two benefits policies - 2 lic jeevan arogya. Why 40 multiple? Food from some places is cheaper than cooking at home. Tasty too.

[@abhinavgupta01]

caliculate ... 👍

[@cityofjoy8830]

Nowadays in covid era rental yield is very low. Please advise 🙏

[@vandanaraoyalamanchi9813]

It is temporary phase, it will pass. :)

[@cinonabudget]

New subbie! When you pulled out that 100 envelope challenge is a beast. I vote summer challenge Great job!!

[@srinathvenkatraman7489]

Simple, easy to understand for people like me from non-finance background. Thank you for your tips. 🙏🙏🙏

[@brindaram1073]

Health insurance policy we have to take every year

[@NRIMoneyClinic]

You have to renew every year. Please subscribe and keep sharing the videos

[@vjandh]

Your videos are awesome sir. No second guess on that. Couple of items from this topic, is renting a property safe & hassle free in india? I head horror stories where tenants refuse to vacate and owners ending up paying lakhs of money to them to vacate. Rent control act supports only tenants - even if they abuse. Also the 4% applies only when you invest your money on equities. Not in FD. Equities / stocks at 7% returns, 4% goes to spending and remaining 3% added to capital. India has high inflation, and so the returns also tend to be higher around 10% unlike west. en.wikipedia.org/wiki/Trinity_study

[@vandanaraoyalamanchi9813]

New Model tenancy act has come into picture...HOWEVER each state has to adopt. Pls. remember ...rental agreements will have to be renewed annually under it, and rents would have to be intimated 3 months in advance. I believe it will be safer going forward.

[@latakuppili543]

No support from govt, the retired people in India get very low pension,they cannot follow your rules, you are only taking about rich people, what about lower income people

[@LalitHira]

Did you personally ever consider retirement?

[@NRIMoneyClinic]

I retired in truest terms ten years before . Real meaning of retirement is work is an option, not a compulsion. Please subscribe and keep sharing the videos

[@sunilmaganally1815]

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

[@rajprema.6425]

Wats SWP of mutual funds

[@NRIMoneyClinic]

Thanks for your feedback. Please subscribe and keep sharing the videos

[@vandanaraoyalamanchi9813]

Model tenants act is here...if your state passes it .. it may help

[@arunpaul2587]

@@rajprema.6425 = Systematic Withdrawal Plan

[@connect2uday]

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.

[@rameshiyer3688]

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%.

[@vandanaraoyalamanchi9813]

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.

[@shyamaprasadmallick1328]

Good summary. However, investment planning needs to be elaborate...

[@NRIMoneyClinic]

Point Noted . Thank You . Please subscribe and keep sharing the videos

[@vandanaraoyalamanchi9813]

Agreed. But is it possible to do so in less than 20 minutes podcast? People's attention span is limited.

[@shreemoydash7426]

Nice one sir......your language is so soothing.

[@NRIMoneyClinic]

Thanks a ton. Please subscribe and keep sharing the videos

[@cvakil115]

Am based in Mumbai India. Do u charge for consultancy on whatsapp? If so, what are the charges? Thanks

[@indranimukherjee752]

I am from kolkata and would like 2 consult u on my retirement income .what do I do

[@NRIMoneyClinic]

Please send message on the numver shown on the screen

[@vijaychhallani1762]

Very good informatiom

[@infoindia2824]

What about. Persons in India don't have any income ,around 40crores. After retirement, children's should take care of parents old age, OR by Central govt,,each village govt should run old age. Home free , for 60 yrs and above,,,,

[@cherishgp]

The phone number you gave is 00971 - seems to be an error. India’s country code is 91 not 971. Secondly you should not put 00, you should put a plus sign. Why? 00 is number is India to dial STD, in Singapore it is 001, in US it is 011. But if you put + then it means insert your national ISD code and follow by this number.

[@muckadackalmathew9889]

Before retire make sure you have a "RATION card, Gas connection to your home, Medical Insurance and Know you cannot get even a credit card in India if you are over 70 years ! You should have cash in hand always ! Above all you should not have integrity, honesty and compassion which can be exploited by others ! I came to India after 45 years work in Africa and found hard to live in India and I decided to go to USA to settle.

[@ganeshraoma]

Excellent and very dignified advise for people 🙏

[@sandeepbawa6024]

A simple question is that using SWP in Future and after paying the Long Term Gain tax do i also have to pay income tax on the amount came into my bank? As the income from FDs will be in a bigger tax slab Am i correct?

[@NRIMoneyClinic]

Once you pay capital gains tax , it will not again suffer income tax

[@sandeepbawa6024]

Thanks for a very quick response. @@NRIMoneyClinic

[@raveendrareddyperam1653]

Hai sir, nice video, please suggest financial planning for 37 years old for retirement life

[@noraintipo64]

Thank you Dr for sharing. May God Bless you and your family. Woth love from Malaysia 👍

[@sumantadutta8211]

Sir can you guide me

[@varshafalcao7508]

Great video sir!!!!!! Thank you 🙏🏻

[@abhisektripathy92]

You did not take inflation into account. With 0 growth, and 4% withdrawal, adjusting for inflation, 25X corpus will get exhausted within 10-15 years depending on inflation

[@liberated-midager]

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..

[@tcs2020]

Great, useful looking forward to meet you soon.

[@pikulsarkar7537]

The 4% rule assumptions you mentioned are wrong. The return of investment portfolio has to at least equal to be rate of inflation, it can't be 0% and still last for 25 years.

[@maxiemonteiro3199]

what's the right assumption ?

[@vandanaraoyalamanchi9813]

Agree and disagree. :) It depends upon personal expenses, cost of living in the place of residence, type of lifestyle, etc. Inflation is more in some items, less in some items. As age increases, we tend to reduce some expenses without realizing. Like I might have spent more on clothes in 20's, now functionality is important. So home wear, and footwear and hosiery are all that i buy. Traveling has come down too. Traveling costs made up decent sum in my regular budget when I was working.

[@sundarnarayanan3511]

There crores at the end of the life is irrelevant. Most likely scenario is no one might be needing that. Either wards would have pestered to take it much earlier or they would have grown economically very strong to say or not even ready to know what parents have left.

[@joshikorath2421]

Please tell us about CHIT FUND

[@NRIMoneyClinic]

Less said the better . They are synonymous with cheeting funds . Invest your hard earned money only in regulated entities and instruments. Please subscribe and keep sharing the videos

[@khorl.m.6992]

Am a practical person pertaining to budgeting. Spend within my means & cautious not to fall into the over spending with impulse purchases.

[@gubbibalaji5252]

Dear Bhat sir , what are ur charges for doing financial planning .should I send a message on the dubai number to find out details.thanks

[@NRIMoneyClinic]

Please send a message on the number shown on the screen . Please subscribe and keep sharing the videos

[@iamdedlok]

Very well explained. Thanks..

[@swapnadebnath2245]

I will get pension,how should I plan for future?

[@NRIMoneyClinic]

Check if it is sufficient . Please subscribe and keep sharing the videos

[@sailenkundu2392]

If my present monthly expenditure = my present monthly government pension how much money should I have?

[@jithinmohan9747]

Sir thank you for the podcast. Would you be kind enough to provide your insight on how to invest during inflation

[@himanshujoshi2974]

Very practical presentation. Even a layman can understand very well.

[@bonimovies7531]

I agree with you

[@NRIMoneyClinic]

Thank you so much . Please subscribe and keep sharing the videos

[@jayashrees5508]

What about for those getting pension

[@hardplabber1859]

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

[@ashokahir2198]

Very very nice Sir Excellent

[@PCRAOVSP]

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

[@akhandbha]

Corpus of 30 times your annual planned expenses is good enough. One must live frugally.

[@karankkrj]

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.

[@sureshglobeit]

If getting admitted to Apolllllllo. Buy health insurance 25.0 lakhs

[@ssantoshkumar723]

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

[@snagarajan7598]

A very nice presentation and guidance.

[@NRIMoneyClinic]

Glad you liked it. Please subscribe and keep sharing the videos

[@sundarnarayanan3511]

Money is of less of an issue these days. Bigger issue is food, maintenance of home, planning your days engaging friends

[@rajprema.6425]

How well u explain.....

[@kumarpradeep6668]

Great to hear your advice. May God bless you Sir

[@gurnamjagat5582]

How Do You Say, You Have Enough Years To Live ?

[@NRIMoneyClinic]

I would like to learn it from you . Let me hear your arguments .By the way you can take the help of an astrologer

[@gurnamjagat5582]

@@NRIMoneyClinic I just ask simple question. Answer if you know. I ask you cause I didn’t know...!!

[@NRIMoneyClinic]

I thought your question as a sarcasm. If your question is genuine , then two things to guide you . 1 . Life expectency in general 2. Life expectency at a particular age It is safe to assume , if you have lived beyond 45 years , nature has already chosen you to live long many years

[@gurnamjagat5582]

@@NRIMoneyClinic Thanks.

[@vandanaraoyalamanchi9813]

Look at three generations of your parents, and three generations of aunts and siblings. Pick the age of the person who lived the longest and add 10 years to that considering improvement in medications since then.

[@SanjeevDD]

Very rudamentary calculations with assumptions that are not well spelt out.

[@davidraja]

Thanks for the useful info.

[@dattadurgude2615]

Nice video i have got best information about retirement Thankyou Sir

[@sandhyagokhale247]

You are GOOD Dr Bhat

[@infoindia2824]

Good. Health. Maintained by a human,,,does not need any money, investment,

[@oncologistindore4723]

So eventually we need 10% return in india assuming an inflation of 4%

[@sandradrago8564]

I’m 60 , if I want to retire at 70 , how much funds I should hv

[@rbsdxb2679]

25 lakh insurance plan... Its was a comedy or what

[@Nikeshjainedurigovala]

Thank you! I liked the way you explained it.

[@saianantha9002]

Thank you for vaulable insights. Will contact you to discuss further.