Tag: money
3 Ways to Invest Your Retirement Money | CA Rachana Ranade
user 0 Comments Retire Wealthy Retirement Planning
Well today, I am going to inform you a story,.
a story of an ant and also a grasshopper. When it was a nice sunny day, the grasshopper was.
cheerfully vocal singing particular good songs and also he was delighting in the weather condition while, on the various other.
side the ants were extremely hectic gathering food to ensure that they put on'' t have to encounter a problem. on a rainy day. What occurred that, the rainfall started and when the rainfalls were.
putting heavily, the ants were appreciating the food in their own tiny residence. Poor insect, what.
might have taken place to him? You wish to see that, the insect is likewise merrily enjoying food, since he'' s not the insect of that initial.
tale, he'' s the next gen insect, he knows just how to prepare for his future, perhaps he'' s seen my. talks which ' s why he ' s a clever grasshopper. Hey folks, CA Rachana Ranade below and I welcome.
you all to a brand-new video which is concerning just how to park your retirement corpus.I am certain.
that insect hasn'' t still left your mind, you could be questioning how did he get that.
food, so it'' s all regarding proper preparation, appropriate setting goal and if you'' re still. not conscious about just how to set clever goals, just look at this lecture whenever time.
permits and I am sure that that insect might be extremely really crazy about learning, he may.
have actually set his retirement goal extremely perfectly, that'' s why he was able to enjoy the summertime. As the post retired life phase. Well now, it ' s time to push
the reset switch,. why? Due to the fact that you were in the buildup phase of your life till now however, today we''
re. assuming that you have actually currently gotten to that retired life phase and currently, you'' re mosting likely to enter into. the decumulation phase.You may be asking yourself, what is this? So this video clip, to be really honest, is. not targeted for people that are in 20s or in their 30s, this is a lot more targeted in the direction of individuals who.
are at their retired life age of allow'' s claim 60 years or perhaps if you are three decades, possibly, you can. certainly see this video clip for your moms and dads right, due to the fact that they are going to be the ones that.
may receive a round figure amount at retired life and after that they may obtain puzzled regarding how can I.
park these funds so that I can decumulate them, so that I can utilize them, withdraw them really well.
as well as lead a really comfy life post retired life. So simply to provide you one more quick clarification,.
accumulation phase takes place when you are working, whenever you are keeping that little part of.
your earnings so that you can easily retire early, retire rich and now when you have.
reached this retirement phase, now it'' s everything about withdrawing your.
financial investments as well as leading a tranquil life. Numerous times people ask me on WhatsApp or with.
e-mails that Rachana, we have received an x amount as a lump amount retirement quantity, now where.
must we invest this.If you actually
ask me, there'' s no single answer for that, I will offer you.
an example for this as well. Assume that there are three good friends a, b and c. Nearly 25, thirty years ago,.
all had actually chosen that when we retire, we need to have a retired life corpus of one crore rupees as well as.
today all of these 3 individuals have actually retired. Budgeted quantity was exactly how much, target amount.
was one crore but, allow'' s comprehend actually what have they accomplished, Mr. A conserved just 30.
lakh rupees so I can claim today his financial investment corpus is simply 30 lakh rupees, for b it is 90 lakh.
rupees, 90 lakhs is extremely near the target and also c has taken care of to spend two crore rupees for his.
retired life. Currently you just tell me something, can I provide one single strategy or.
the strategies have to be various? Answer is, the strategies have to.
be various yet what will certainly be the strategies is specifically what we are going.
to go over in the following part of the video clip. So now let'' s recognize all these 3 situations one.
by one.The extremely
first one, if you keep in mind is of Mr. A, whose target saving for retired life was.
one crore however he actually ended up just with 30 lakh rupees. Now what do you believe, out of these.
three techniques, what ought to be his concentrate on, ought to it get on income generation, on corpus.
protection or on corpus growth? Ideally, it ought to be mostly on income generation and certainly.
on corpus defense. He can'' t take the danger to grow his corpus by putting his corpus in dangerous.
tools like equity blog post retirement right. What are few services for Mr. A, service.
number one, regrettably he will still need to make a point to gain added revenue, currently just how,.
if he is an experienced person, he may still provide some certain consultancy solutions and also generate income.
Possibility number two if that'' s not, I mean if that ' s not workable, possibly if he'' s remaining in his. own residence, he can sub rent a part of his residence, so let'' s say he can have a paying visitor to whom.
he can simply give like one bed room of his home, something like an Airbnb design, can be operated.
by him as well right.One extra opportunity is that if he is able to reduce luxury to.
nearly absolutely no percent levels, then he will be able to endure via his retired life and also one.
last point which he will certainly need to do is that, even if he'' s spending on fundamentals, he will certainly have.
to invest in the basics really really tightly. So I really hope all the young customers out there, they.
may have recognized that come what may, I put on'' t wish to be Mr.A message retirement. Now allow'' s. most likely to the instance of Mr. B, his targeted conserving for retirement were one crore rupees as well as just how much did.
he wind up conserving, he wound up conserving 90 lakhs, almost striking the target right. What need to be.
his focus on? His focus ought to get on top corpus protection, due to the fact that he'' s virtually there
. Now, he doesn'' t wish to shed the corpus however, at the same time he additionally desires to produce certain.
income.So for that
what will certainly he have to do, top, he should make certain as I pointed out that.
his funding is not eroded, so, for that can he buy equity, direct equity? No. He has to.
make certain that resources is not worn down top. Phone number two, can he still pay for a small quantity.
of luxury, why not mild quantity of high-end is budget-friendly due to the fact that he'' s extremely near to his target.
as well as number three, what he can do is that he can spend a part of his funds in something like.
a traditional fund wherein, 75 to 80 percent exposure is offered to debt and a really minor.
portion is it is really designated to equity, so I can say that corpus development can be a very.
very small factor which may be considered yet, once again I am duplicating, significant emphasis on what, major.
emphasis on corpus defense and income generation. Let'' s go on to instance number c.For instance number. c, he ' s at one of the most amazing setting because his target conserving was one crore he has ended up conserving.
to crore. Does he need to truly bother concerning something now, no. Can he really live.
his retirement life in high-end, absolutely indeed. Can he invest in equity as well, he or she,.
of course, why not, due to the fact that for him capital security is not extremely a large running dilemma, he additionally has.
surplus corpus. So he can take the chance of out a few of his money in equity. Now whether in direct equity or.
in equity shared funds depends upon his understanding right. So after understanding all these.
factors, I hope you have recognized that Mr. C has 2 more possibilities, possibility number.
one if he lives to the age where he had predicted, let'' s say he had actually forecasted that he lived.
to 70 as well as if he lives just till that age, he will have the ability to maintain some corpus even.
for his candidates, for his lawful successors. If he outlasts his assumption so as an example he.
had intended that he will certainly pass away at 70 as an example as well as he lives till 80, still will he have.
the corpus to live that additional ten years, yes, since he has that added quotient.So.
all those young people out here watching the video, I hope you understood that you certainly enjoy if you.
are Mr. C while you are at your retired life age. Well before we relocate ahead to comprehending the.
various investment alternatives available, we have to recognize two prerequisites, which are these.
2, primary, even if you are in the retirement phase, extremely extremely extremely essential is the emergency.
fund. Now what is reserve, it'' s something like you must have nearly 3 to 6 months.
of your costs extremely easily readily available with, you it might be in your financial savings account, it could.
remain in your FD, all right maybe in fluid fund however it should be significantly conveniently obtainable. If.
you wish to know even more about reserve, I have already made a video clip on that you can examine.
it out later. Phone number two, very very crucial, you need to have a medical insurance because as and.
how you expand more in age, possibilities that you could encounter health problem, you could face hospitalization.
or a shade higher so, you should have an appropriate wellness insurance.If you want to understand even more concerning. medical insurance once again I have actually made a different video on that particular, I have actually recently released this on. the channel. So be certain that you have understanding about both these 2 factors and afterwards only proceed. to understanding the numerous investment options.
Emergency funds checked off, health and wellness insurance. ticked off, I am not saying tic toc, checked off fine.
Now with this allow ' s carry on to the. government systems as well as we are mosting likely to focus'on 3 systems. The very first one is SCSS, elderly. citizen saving system. The second one is PMVVY which is the Pradhan Mantri Yaya Vandana Yojana. and the last one is POMIS which is post office regular monthly revenue system
. Well to be extremely honest, the. initially two are absolutely retirement focus plans, the 3rd one can be opened even by individuals who. have not achieved the age of 60. So for instance, if I wish to open a POMIS, I can, I can also open. it for a small as well alright, but, then why are we reviewing it below, because it offers. a benefit of a monthly earnings scheme, that ' s the reason I am discussing it in this section. . Allow ' s understand all these 3 one by one. Where can you open up an account under SCSS,.
it can be opened'up with any type of licensed bank or a message office, for PMVVY it is exclusively operated by. LIC. So if you want to open up an account, you need to come close to an LIC agent or you can go straight.
years yet with specific uh problems so for instance, if you have actually taken a very early VRS, an unique.
VRS, then age limit is removed to 55. If you are a protection employees, the age limitation is taken.
additionally down to 50 right, for PMVVY, it ' s
a flat age of 60 years and also for POMIS as I mentioned,.
there is no age limitation also an individual of two decades', 30 years, 40 years, 60 years also can open up.
This account. The next one has to do with term tenure, for SCSS it is 5 years and also it can be.
included additional three years for VVY, it is 10 years and for POMIS, it is five years.
Exactly how. a lot are the rate of interest? For the very first 2, rates of interest are 7 factor four percent. for the quarter among 21, 22. So what does this indicate? Can the federal government transform these.
Can they do a descending modification,.
negative in any way, okay.When you make money out is the big concern currently, if you ' re discussing SCSS,. you obtain paid out quarterly, for VVY, you get, you have an alternative you can choose regular monthly, quarterly,. half annual, yearly whatever and for POMIS, as it ' s a regular monthly revenue scheme, it will certainly be paid. out on a monthly basis. Minimum down payment, optimum deposit is extremely well stated in this table you. can see below, minimum is 1000 and also its multiples optimum is 15 lakhs. For VVY, 1.5 lakhs for a. yearly pension plan and 15 lakhs for a regular monthly pension, for blog post workplace MIS, it ' s thousand and also it'' s as well as. it'' s multiples and also for maximum quantities it is 4.5 lakhs if it'' s a solitary account as well as 9 lakh if it'' s. a joint account. There are certain clauses about withdrawal and penalty as well, if you desire you. can just press the time out switch, read out the charge as well as withdrawal provisions and after that once more play.
okay. It'' s nothing like to be shown as such. For taxation, for SCSS, PMVVY both are eligible.
under ATC, for POMIS it'' s not eligible under ATC. If you look into, for all these 3 plans, the.
objective is typical and also what is the objective, aim is earnings generation and also corpus protection.Is there 100%.
corpus protection
, yes, due to the fact that all three schemes are someplace related directly to post office or.
to the government, so it'' s comparable to stating that government failed, really unusual situation right. .
in this instance, I can say that corpus protection is definitely assured, so go back once again to situation a,.
b and also c. To whom is this definitely suitable for, it is definitely appropriate for the instance a.
category. Can situation b, can Mr. B also invest some part in this, absolutely of course, why not. A.
little bit much less as compared to An and for c this, can be a somewhat lower quantity which.
can be purchased these three schemes. I wish you have comprehended extremely well concerning.
the government schemes.Now allow '
s go on to buying mutual funds. Ff you keep in mind, I.
told you that relying on the threat cravings, one can select whether he ought to go for a financial debt.
fund or to a well balanced fund, because also we spoke regarding a conservative fund, you keep in mind when I.
claimed 75 to 80 percent direct exposure will certainly go to financial debt, only that equilibrium small tiny section to equity.
and also the third one can be in fact spending in equity oriented funds however, that was for whom a?.
Allow'' s understand one by one if.
Ideally, you need to go ahead with an extremely secure federal government scheme point only right. If I am.
discussing b, can b spend a part of his corpus in the red funds, response is of course, why not, he.
can do that.Now if he wants income generation, what he can do is purchase financial debt.
fund and afterwards go on with an SWP, what is SWP, systematic withdrawal plan. So like in SIP you.
transfer x quantity regular monthly to that investment that is shared fund right, rather than investing.
monthly, below you take out monthly that is understood as a methodical withdrawal plan alright. So what is.
action primary, invest one portion in the red fund at one shot and maintain on withdrawing part by component.
on a monthly basis, that will certainly offer you a steady flow of revenue each month right. Possibility number 2,.
if you desire to go ahead with purchasing equity, now spend in equity was for whom, ideally for.
Mr.C so now, let'' s recognize how c will prepare his financial investment in equity shared funds. Is he.
mosting likely to straight buy equity mutual fund, no comprehend how he would certainly do it. So presume.
whatever piece he has decided, initially the entire portion will enter a financial obligation common fund right as well as from.
the debt common fund, money will certainly be methodically moved to the equity oriented mutual fund..
This is not called as an SWP, it is called as an STP that is nothing yet a methodical.
transfer plan. So what will occur in this, it is comparable to an SIP just, yet SIP is when?.
When you pay of your very own pocket each month, in STP what occurs, money has currently headed out.
from your pocket you understand it'' s there in the debt fund, it'' s parked in the debt fund. Currently cash.
is only being transferred from a financial obligation fund to an equity fund.I hope you have comprehended what is.
a debt fund, that must purchase a debt fund. If you remember we likewise spoke regarding a conventional.
fund, a crossbreed fund, we did speak about spending in equity oriented shared fund that was primarily for.
Mr. C, we also spoke about SIP, SWP, STP wow, however wait, still one large inquiry remains exactly how to select.
which mutual fund, for that, I have a separate training course on magic of shared funds so you can surely.
believe regarding purchasing this program, you'' ll get a great deal of expertise regarding just how to choose a shared fund.
therefore that you can spend with complete confidence.Let ' s move on with our last financial investment. Avenue, which is investing in equity, my preferred one. After that, is it. suitable for Mr. A
, no, b, no, for c, yes. After that, just how? Can you invest directly in.
equity, that depends upon whether that person has that much knowledge on equity or otherwise. If he does.
not have knowledge, he can acquire that also. I will certainly like to share a very wonderful.
experience which I had.So whoever enrolls for my programs on numerous like fundamentals of stock exchange,.
basic analysis, technological evaluation whatever, I do conduct a zoom meeting sessions every.
month with all these participants. There is one participant called Shashi and she is I guess.
60 plus years. She has been a researcher, has no business history yet then, message retired life she.
stated, I would love to learn more about securities market. She has discovered a whole lot concerning securities market, she.
keeps on asking me questions monthly and also I am so delighted to address her concerns. That'' s exactly how it. programs that there is no age barrier for understanding, so if you still believe that you have that.
Interest for learning, age is simply a number,. What you can do if you have that.
knowledge in securities market, you can spend, if you wear'' t have, obtain the understanding initially and also.
Spend in stock market yet again coming back to our instance research, this one is not suitable for.
a, b it'' s relevant only for c. Next alternative can be investing in Nifty bees. If you wear'' t understand. what are bees, what are Awesome , I have actually currently made a different video clip on that.I have spoken.
concerning numerous kinds of bees like gold , Nifty bees, financial institution , in that video you will.
get an in-depth input on what are awesome . You might quit working, however, your.
cash may not quit functioning, If, you have parked it successfully. I really hope.
you have appreciated this video. If you have, don'' t forget to share it with your good friends.
till after that make sure, Jai Hind and bye bye.
Well now, it ' s time to press
the reset button,. Currently let'' s. His focus needs to be on number one corpus defense, since he'' s virtually there
. Currently with this allow ' s move on to the. That'' s exactly how it.
Why Florida Is Losing Its Appeal As A Prime Retirement Destination
user 0 Comments Retire Wealthy Retirement Planning
THIS MORNING I HAVE YOUR NEW RETIRED LIFE CHECKLIST. >> > > Reporter: WITH ITS ENDLESS SUMMERS AND AFFORDABLE OF LIVING, THE SUNSHINE STATE ENDED UP BEING A RETIREMENT LOCATION WHERE GENERATIONS OF AMERICANS HAVE SPENT THEIR GOLDEN KPLEERS YEARS. A RELOCATION SO POPULAR, IT EVEN MADE ITS METHOD INTO POPULAR CULTURE. ♪ ♪ >> > > Reporter: TODAY AS THE RATE OF EVERYTHING SOARS IT COULD MANY DIFFICULTY IN PARADISE FOR SOME RETIREES, ESPECIALLY WHEN IT CONCERNS HOUSING. >> > > PIEM ARE AIMING TO RETIRE, MIGHT BE RETHINKING THEIR INTENDS. >> > > Reporter: MEDIAN HOME VALUES IN FLORIDA NOW UP NEARLY 28% FROM LAST YEAR. THE STANDARD RENT IN MIAMI MORE THAN $2,900.
IN ORLANDO AROUND 2,100. >> > > I SEE THIS AS A PERMANENT CHANGE. >> > > Press Reporter: KEN JOHNSON, A REALTY ECONOMIST AS WELL AS ASSOCIATE DEAN AT FLORIDA ATLANTIC UNIVERSITY, FOUND IN A RECENT RESEARCH FLORIDA INCLUDES 5 OF THE 10 MOST OVERVALUED HOME MARKETS. HE ATTRIBUTES THE STICKER LABEL SHOCK TO THE STATE'' S INFLUX OF NEW CITIZENS THROUGHOUT THE PANDEMIC, THANKS PARTIALLY TO REMOTE FUNCTION. BECAUSE 2020, FLORIDA'' S POPULATION HAS GROWN BY MORE THAN 700,000 PEOPLE, DEVELOPING A SHORTAGE OF STOCK AND ALSO MOTIVATING THOSE ON A SET INCOME TO CONSIDER MOVING IN OTHER PLACES. >> > > SOUTH CAROLINA, MAYBE PARTS OF NORTH CAROLINA, GEORGIA, PARTS OF THE ALABAMA AND ALSO EVEN MISSISSIPPI AND ALSO TEXAS COASTLINE. >> > > Reporter: WHEN CHOOSING A RETIREMENT DESTINATION DON'' T JUST HEAD SOUTH. SOME FACTORS TO THINK OF. ENVIRONMENT AND ALSO THE DANGER FOR NATURAL DISASTERS, STATE TAXES, ACCESS TO MEDICAL SOLUTIONS AND ALSO PRIOR TO MAKING A LAST CHOICE INVEST A LONG TIME IN THE LOCATION. HOW HAVE YOU SEEN FLORIDA MODIFICATION OVER THE PAST FEW YEARS? >> > > 46 YEARS LIVING BELOW, EXPENSE OF LIVING HAS GOTTEN REALLY OUT OF CONTROL.
>> > > Reporter: 68-YEAR-OLD SHELLY ROSS SAYS SHE MAY TRANSFER TO GEORGIA. FOR NOW SHE WILL KEEP FUNCTIONING AND ALSO PLAYING TOUGH RUNNING A SMALL BUSINESS IN THE TOY SIS FROM BOCA RATON. ROSS SAYS VALUE RISES ON NEEDS LIKE FOOD, RESIDENCE INSURANCE AS WELL AS WELLNESS CARE POSTPONED HER PLANS TO WORK LESS. HOW HAS INFLATION AND THE CLIMBING EXPENSE OF LIVING IMPACTED YOUR RETIREMENT? >> > > PROBABLY HAD ME FUNCTION A BIT HARDER. >> > > Reporter: EVEN MORE AMERICANS NOW THINK THEY WILL FUNCTION PAST AGE 65 WITH 73% STATING THEY DON'' T SEEM LIKE THEY HAVE CONSERVED ENOUGH FOR RETIRED LIFE ALTHOUGH THE MAGIC NUMBER DIFFERS FOR EVERYONE, SOME EXPERTS SAY SAVING 80 TO 90% OF YOUR A PRERETIREMENT INCOME. A FINANCIAL ORGANIZER STATES IT'' S NEVER FAR TOO LATE TO BEGIN PLANNING FOR YOUR FUTURE. >> > > FOR PEOPLE THAT ARE UNABLE TO HIRE A FINANCIAL ORGANIZER, WHAT GUIDANCE DO YOU GIVE THEM? >> > > START SAVING SOMETHING, WHETHER IT'' S IDEALLY 10% OF YOUR INCOME, WHATEVER YOU TIN AFFORD.
>> > > Reporter: CUT UNNECESSARY EXPENSES BICK LIKE A HOME PHONE, CABLE TELEVISION OR A 2ND VEHICLE. IF YOU HAVE IRAs OR 401(K)s, CONSIDER PARTIAL ROTH CONVERSIONS SO YOU PAY TAXES NOW AS OPPOSED TO LATER. AS WELL AS AS YOU STRATEGY RETIREMENT SHIFT FROM HIGH TO LOW-RISK INVESTMENTS. RECOMMENDATIONS ASSISTING ROSS TO INVEST LESS TIME ON THE CLOCK. AS WELL AS MORE TIME ON THE PICKLEBALL COURT RELISHING HER GOLDEN YEARS. >> > > YOU PERKED UP. >> > > I RECOGNIZE, SHE HAD A GREAT SWING. >> > > BELOW IS THINGS. FANTASTIC TIPS THERE. THAT MAGIC NUMBER THAT WE TALK ABOUT WHEN IT COMES TO CONSERVING FOR RETIRED LIFE, IT DIFFERS A GREAT DEAL. IS THERE A GENERAL ARRAY THAT INDIVIDUALS SHOULD TAKE INTO CONSIDERATION? >> > > BASE ON NORTHWESTERN MUTUAL, PEOPLE THINK THAT MAGIC NUMBER FOR THEM IS $1.25 MILLION. THAT'' S A 20 % BOOST FROM WHAT INDIVIDUALS WERE REALLY FEELING IN 2015 AS A RESULT OF RISING COST OF LIVING. SO, YOU UNDERSTAND, THERE IS NOT A ONE SIZE FITS ALL. DEPENDS WHERE YOU LIVE, WHAT THE EXPENSES OF HEALTHCARE WILL CERTAINLY BE.BUT YOU NEED TO VARIABLE THOSE MATTERS IN WHEN CONSIDERING WHERE YOU LAND. WE DISCUSS THAT, TOO. LIKE EVEN TRANSPORTATION, AMUSEMENT, TRAVEL, THOSE ARE POINTS YOU MAY NOT THINK OF BUT YOU ARE GOING TO WANT TO DO THAT IN RETIREMENT SO DO THAT. >> > > THAT SEEMS INSANE. >> > > START CHIPPING AWAY AT. >> > > WHAT YOU GOT FOR TOMORROW? >> > > A WHOLE LOT OF PEOPLE ARE HOLDING ON TO THEIR CARS AND EVEN IN SOME CASES WONDERING SHOULD I MARKET MY RESIDENCE NOW AND GO INTO SOMETHING NEW? WE ARE GOING TO PROBLEM SOME FIGURES AS WELL AS INFORM YOU SHOULD YOU STAY OR GO? SHOULD YOU HANG ON TO IT OR OFFER IT AND GO WITH SOMETHING NEW. >> > > ALSO THE NAME MUCH A CLASH TUNE? TEN INDIVIDUALS GOT THAT TODAY. >> >
>> > I OBTAINED IT. >>> > > OK. > > > WHAT ABOUT YOU, AL? YOU LOVE THE CLASH, DON'' T YOU? >> > > BIG CLASH FAN.
> > Reporter: WITH ITS ENDLESS SUMMERS AS WELL AS LOW SET YOU BACK OF LIVING, THE SUNLIGHT STATE BECAME A RETIRED LIFE HOT SPOT WHERE GENERATIONS OF AMERICANS HAVE SPENT THEIR GOLDEN KPLEERS YEARS. > > Reporter: CUT UNNECESSARY EXPENSES BICK LIKE A HOUSE PHONE, CORD OR A SECOND CAR. > > ACCORDING TO NORTHWESTERN MUTUAL, INDIVIDUALS THINK THAT MAGIC NUMBER FOR THEM IS $1.25 MILLION. > > > WHAT ABOUT YOU, AL? > > BIG CLASH FOLLOWER.
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Retirement Planning | Pension Calculators to help you plan your Retirement
user 0 Comments Retire Wealthy Retirement Planning
That you conserved 50 by saving till retired life,
you place this 5000000 in some place from where you got
7% rates of interest after tax obligation, currently if your yearly expenditure is 5 lakh that
5000000 for how many years Till you will continue to get retired life revenue, allow'' s. look at this computation with the aid of exercise, after that if we think that your old age. is 61 years and you think that your life span indicates how much time you will. go Assuming that you have twenty-five years, then if you have actually deposited 50 lakh rupees in it,.
right before your retired life, your yearly expense is 5 lakh rupees, after that placed this 50 lakh.
in such a student someplace on the rate of interest of clean percent. If you have the serial cash that will certainly pertain to you Bigg Employer is.
3 and also a fifty percent lakh rupees and also your expense is an additional 5 lakh rupees means that the net is lowering from your pocket by one and a half lakh rupees, then.
at the end of the year you will certainly be entrusted 48 lakh 50,000. If we go on with any kind of computation, after that.
you will certainly see that the complete amount that you have will certainly last for virtually 17 to 18 years, that is, for 17 to.
18 years, you will certainly have the ability to utilize this 5000000.
Currently see a couple extra things in this. The very first point is that.
for 85 years, you will certainly not get it, you will certainly not have the possibility to utilize this quantity for 425 years, for the next twenty 5 years,.
what does this mean, it suggests that you need to spend even more than 50 lakhs. Will have to so that you can use your money till the age of 85 years, let us take an additional note that if instead of.
50 lakhs, we would certainly have subtracted 1 crore here, after that what would have taken place, we will certainly see.
that yes you For the next 30 years, as a matter of fact not even for twenty years, if you lose your life, you can easily take out Rs 55 lakh every.
year, till the age of 90. You will certainly still have a significant corpus,.
so when you If you are conserving for this as a retired life, please note that.
your area should be big sufficient to look after your article retired life costs whenever.
you or as numerous as you like have actually zoomed in.Secondly, we
ought to spend you in such a location that.
you can create good returns to ensure that it does not happen that as a result of the expenses of the deposit arm, your.
oral for sure who drops short, what is the distinction of rising cost of living to meet those costs. It might be.
on your corpus or the expenses coming out of you, yet now we look at it in this video clip. Currently.
inside this computation, we assume that earlier we had taken the inflation rate as zero percent, that is, if.
you If you were taking out five rupees in the very first year, then you withdraw 5 lakh rupees for the whole time, we return 5000000 to the.
group and also we see that if we think the inflation rate is five percent, allow us.
take a poem There is 5 percent inspiration, that is, if you take out Rs 5 lakh in the initial year,.
In the next year you have a requirement of Rs 5 lakh 25 thousand and also in the following year, the.
amount increases this way towards Rs 5 lakh 51 thousand 2 hundred as well as fifty. In this case, millions had actually dreamed that your corpus was mosting likely to.
last for 17 to 18 years, however here we see that currently this corpus will certainly be able to last you for nearly 11-12.
years, that is, the cash that you have for 17 years It was expected to end 6 to 7 years back and.
this took place since the value of the rupee will decrease.As the moment advances, inflation will certainly boost appropriately, the. money you will certainly have will certainly be less. Allow ' s take 75 in position. We conserved a little more cash if we increased it and also afterwards if we consider the depression, we.
see that our corpus is now back to 17-18 years, that is, if you take rising cost of living right into account. If you put on'' t maintain the cash you have left with you, that money can be less for those years, so it is extremely.
important that you should keep inflation in mind. Whenever your partner is ripping off, you.
can download this seat using cost of it.
I have actually offered the web link in the summary where.
you can see the worth of different honor year by year, how long will it last for your retirement,.
now you can put different rates of interest, you can place different information right here so that you can.
obtain an idea that When you will certainly take out regularly from the cash you are considering gathering, then you will certainly recognize.
just how much money you have, for how long your cash will last, I have actually created an additional calculator.
and also in this exercise you will certainly obtain it where you You can see exactly how much cash you need to invest to ensure that.
you can do tales at the time of your retirement as I carried out in this earlier right here we will.
do 2 estimations one instance we will take without inflation and one we will take rising cost of living in mind.
This calculator is free and you can do various.
calculations according to your own by varying the worth inside it, currently let'' s consider it, then. in this calculator also you need to first put your Exactly how old are you currently, retirement.
age, in which year you are considering taking your retirement as well as what are you anticipating for your life span,.
Below I have actually assumed the value where you are presented on the screen in Yearly Express. Yet it is six lakh rupees suggests that if your annual expense is on Shell Shikhar, then you obtain interest on this six lakh rupees,.
messages identified percentage after that take warm 8 percent rates of interest, then.
I will cover actual return as well as serial return also.
Our return comes just 8 percent and we had taken the annual share.
six lakh rupees, that will stay the significance of time but six lakh rupees only, currently what does it suggest, it implies that.
in today'' s day your age is 40 years 60 years till today if any There is no inflation, if nothing is pricey, that indicates.
today if the rate of gasoline is on the opposite side, then even in a year it will not appear to be 100. Allow'' s go by focusing. In that case, if you require six lakh rupees for the beginning I peel it right here also but if you require it, then for the.
following twenty-five years, if this amount maintains involving you, that implies you maintain involving it every year,.
and you can invest whatever cash you have actually made up to this point. At the rate of 8 percent, you will get the response of.
just how much cash you will require right here, that is, if you have 64.
lakh 4866 rupees existing right here at this time, the answer gets on the table for 60 years, retirement is bringing that cash.
back home.
If you are lying then the entire variety of your retired life will be reduced conveniently. You can take six lakh rupees annually from inflation as well as.
thrown away amount. If I intend to gather Rs 64 lakh 4866 till the age of 60, after that.
I Begin transferring exactly how much money from today the response is really simple here in.
this assault you can see here it is also setup called for i.e. if every year.
you conserve around 140000 quantity and also invest it in some such area From where you get 8 percent.
return, you will comfortably reach this certain amount, that is, you will have the ability to collect your team. You can.
differ these worths and also see the computation according to your very own. Currently we take it that if.
right here Even if there is rising cost of living i.e. if petroleum expenses 100 from today, it will certainly not set you back 100 after 20 years,.
tell me in the comment that according to you, the price of petrol will certainly desire twenty years from today, however allow'' s assume that the. inflation is Pa is raising according to the season, so the 6 lakhs that we have here, that is, according to.
Chalisa, it was six lakh rupees, it will practically end up being 15 lakh 91 thousand 989 rupees, after 20 years, it.
appears challenging, yet see what it implies.
Is that the thing which is coming in today'' s price of 6 lakh rupees like a.
automobile is coming which is coming for 6 lakh rupees WhatsApp after two decades will come for about 15 lakh 92 thousand.
currently according to this you will certainly have annually Keep duplicating this quantity, how a lot will you need for the next twenty-five years. Last time we purchased it, it was 64 lakhs, below it has actually come to be 2 crore 81 lakh, that is, about 2 crore 17 lakh.
rupees. As a result of this rising cost of living, now 2 crore 81 lakh rupees. If you want the amount at the beginning of the year i.e. at the beginning of the retired life of sixty years, then.
you will certainly need to down payment 6 lakh 15530 rupees each year. Is it that either you.
want this amount that is great i.e.Anmol Express,
either decrease it that we desire 6 lakh rupees brother, we require.
3 lakhs, we will certainly have the ability to make it through, so now see where it is, or you.
begin soon If I keep six lakh rupees only below after that as quickly as you can start investing.
if somebody court 25 years then currently see this quantity reduced to 3 lakh 39 thousand.
other than 6 lakh something like That I told in several videos, if you are preparing for retired life,.
after that start preparing asap, if you do that much less as well as much less, we will.
get more advantages and around what will certainly be the power of worsening, the second thing is that you buy the appropriate location. Do it if you have actually placed in some student like taken care of deposit etc.Where blog post
.
tax returns are coming to you at 5.15 cents, in today'' s date, you are earning more than that, then from that you have the.
corpus of your retired life i.e. The amount of money you wish to save will certainly not have the ability to reach that.
ways after that you will get cash that will not be sufficient to accomplish your nails.
allow'' s not try currently what is the real price of return as we have First off, it was.
taken in the instance that your interest which is 8 cents on blog posts, if we take rising cost of living as zero percent demand,.
then whatever your real return is, it will certainly come equivalent to your rate of interest price i.e.As if you had.
transferred fennel. After one year, what you will certainly obtain is 100, which will certainly be at 108 only,.
because there is no price, then the thing which was obtaining 100 will certainly be getting it after one year,.
and the important things which is at 108. Currently if we assume the rising cost of living rate is.
5%, after that you have extra real return, it does.
n'' t come at 8-53 cents, it comes is 2.5 7 percent currently it indicates demand it for a long time see.
we had claimed that if there is a thing of 100 then it will certainly be of 100 on rising cost of living today we state.
that that point of 100 since five percent If there is inflation after that we will certainly obtain 105 rupees as well as our money has.
reached 108 rupees since we have actually got the return of 8%, so.
what will certainly be the real value of this 108, why should it enter actual, it will certainly be lowered by 108 paise. Will certainly go and also genuine appearance will concern it,.
see just how we weight it, the approach of calibrating it is that 108 as well as whatever it is, if we.
presume here 108 rupees as well as on the various other hand, we will take.
105th. We did 5 – and also split it whatever is our inflated value, then we will certainly see that the.
worth of 2857 percent comes out to us, that is, your cash in Italy is less than three percent since.
of inflation and you are feeling It would certainly be that this money is raising with me, even.
if I have an infection, then the cash is enhancing, yet the genuine return you have got, which is real, will only.
boost by 2.85, 70%, so whenever you are determining from the return, inflation Constantly take into account and.
see the real return that what you have actually got, the worth of your return can be altered due to the rising cost of living rate being up or down,.
The link of this website as I informed previously, you will certainly get it in the summary,.
use it.
Inform me that if you have any kind of questions or suggestions, if there is any type of error in it, then.
most definitely inform me in the remark or create me a mail.
Currently see a pair more points in this. In that situation, if you need 6 lakh rupees for the starting I peel it right here also but if you require it, after that for the.
You can take six lakh rupees every year from rising cost of living and also.
Due to this rising cost of living, now 2 crore 81 lakh rupees. If you want the quantity at the beginning of the year i.e. at the beginning of the retired life of sixty years, then.
Can YOU Afford to Retire? | 4% Rule Explained | Safe Withdrawal Rate
user 0 Comments Retire Wealthy
How much money do you think you would need to be able to retire? It’s a question that a lot of people have asked their financial advisers and it’s one that seems to have a different answer for just about every time it’s asked. And the reason for that is simple the amount of money that you need to be able to retire depends entirely on how much money you think you can earn in retirement through interest and dividends and maybe even a part-time job if that’s your thing, and perhaps even more importantly how much money you’re actually going to need to survive in retirement. And that number seems to change each and every time you ask as well because projections of things like medical expenses change as time goes on. And I’m sure those of you who are nearing retirement watching this video know medical expenses just seem to be going through the roof, particularly for retirees. But that doesn’t really help us it doesn’t give us a goal to strive for as we’re going through our working careers. We may not be able to come up with an exact number that we’ll need but can we come up with something that’s at least going to be close? Well today I’m going to talk about something called the 4% rule and how it gives us that goal to shoot for.
I’m also going to be talking about some other factors to keep in mind when you’re using this rule of thumb as well as some situations where you’re going to want to avoid the 4% rule in entirely. Let’s get started. So what is the 4% rule? It’s a rule of thumb that’s used to determine the amount of funds that you will withdraw from a retirement account each year. It’s also sometimes called the safe withdrawal rate because the money you take out usually consists mostly of interest and dividends, and thus your principal either stays the same or goes down a little bit but not too much. In fact in 1994 a financial advisor named William Bengan did an exhaustive study of historical returns in the market focusing heavily on the severe Market crashes of the great Depression and the early 1970s and concluded that even during those hard Times no historical case existed where the safe withdrawal rate exhausted a retirement portfolio in less than 33 years.
And for most of us 33 years would easily cover our retirement. The idea behind the rule is that once you have approximately 25 times your annual expenses saved for retirement you should be able to retire with reasonable certainty that you could survive until death on your savings. Because at that point the amount that you take out for your annual expenses would be approximately 4% of your retirement savings. And when I say 4% of your retirement savings I mean your entire retirement savings anything that’s been earmarked to use only in retirement this includes 401ks IRAs and any other ways you’ve saved a nest egg for retirement.
For example if you had $450,000 in your 401k and $50,000 personal IRA then you would have $500,000 in all of your retirement accounts and your initial withdrawal on the first year retirement would be 4% of that $500,000 or $20,000. So some other factors that you’re going to want to keep in mind when using the 4% rule in addition to keeping an eye on your expenses, is to account for inflation. The 4% rule believe it or not actually allows you to increase the amount you withdraw to keep Pace with inflation. You can account for this either by just setting a flat 2% increase to your withdrawals each year which is the target inflation rate by the Federal Reserve or by just looking to see what the inflation rate was for the current year and adjusting based off of that. Now you might be wondering how this could possibly be I mean if you increase how much you would withdraw to keep up with inflation won’t you eventually run out of money? It’s a legitimate question but as it turns out no.
And it’s because over the long term the market goes up. Now there are a lot of numbers that are thrown around by financial advisors about how much the market actually goes up I’ve heard anything from 6 to 10% a year on average. I’m going to be conservative here and go with the 6% end of the scale. So let’s go back to the example I’ve been using in the video you start off retirement with $500,000 in savings, and in the first year of retirement you withdraw $20,000 or 4% of your savings. And I’m also using a compound interest calculator here, and it assumes that whatever you withdraw is withdrawn right at the start of the year.
So the $20,000 is going to be withdrawn on January 1st of every year. I’m only noting that because it makes it a worst case scenario you were to say withdraw $20,000 over the course of an entire year but you did it in installments of $1,600 each month you would be able to earn interest on the rest of the money that you hadn’t yet withdrawn throughout the rest of the year and thus you’re ending net worth would end up being a little bit higher than it will be in this example. So on January 1st you withdraw $20,000, meaning you only have $480,000 left in your nest egg. But over the course of the year the market goes up by 6% which means the value of your portfolio at December 31st would be $508,800. Now in year two of retirement you increase your withdrawal by 2%. So on January 1st of the second year of your retirement you withdraw $20,400. That brings your portfolio value down from $508,800 to $488,400. But again the market goes up 6%, which by December 31st brings the total value of your portfolio up to $517,704. If you were to continue to calculate this out for 30 years you’re ending net worth would be $787,716.90, almost $300,000 dollars more than what you started with in retirement! But of course this is just a rule of thumb so there are situations where you’re going to want to avoid using this all together.
One of those situations would be if your portfolio consists of a lot more higher risk Investments then say your typical index funds and bonds that are usually in a retirement portfolio. This is because obviously a higher risk investment can go down a lot faster than your typical retirement portfolios, which can be extremely devastating especially early on in retirement. Also this rule of thumb only really works if you stick to it year in and year out. And if you’re not going to be able to do that then you don’t want to use this as your retirement goal, because even violating the rule for one year to splurge on a major purchase can have a severe effect on your retirement savings down the road because the principal from which the interest and dividends that you get to survive is compounded from gets reduced. Let me give you an example of how this works: Say that in addition to taking out the $20,000 your first year in retirement, you decide to treat yourself with a new car and figuring that you’ll be traveling a lot during retirement you want to get one that’s good, big, and comfortable as well as reliable.
So for this example let’s say you get a new Toyota 4Runner for about $35,000. Now I know that you could probably find it for cheaper used, but not everybody likes to buy cars used I know my dad didn’t and besides this is just an example. So you drop $35,000 on a new car and you still have to have money to live so the $20,000 still does come out of your retirement, meaning that you only have $445,000 leftover. Now admittedly the market still does go up about 6% leaving you with a nest egg of $471,700 at the end of the year.
And even if you were to stick to the 4% withdrawal rate for the rest of retirement which, would be 30 years in this example, by the 27th year you would be taking out more than you earned an interest and dividends as well as how much the market went up. And by the 30th year of retirement you would withdraw $35,516, but with interest, dividends, and Market appreciation your portfolio would have only gained $33,209 in value.
And that could put you in a pretty dangerous position should the market go down for a couple years, or if you have some kind of medical emergency. Now I don’t want to make it seem all bad, I mean unless you retired early, after 30 years in retirement you’re probably in your 90s and don’t need the money to last very much longer and even in this example you still do end with $586,000. It could be worse right? However I do want to bring your attention to the difference that this made. This one purchase made your ending net worth that you could have left as inheritance to your children or grandchildren or even donated to charity go from $787,000 all the way down to $586,000, that’s a difference of over $200,000. And all that’s with just one splurge. But that’ll about do it for me I hope you enjoyed the video and if you did or if you learned something be sure to like And subscribe I’ve got a lot more of these Finance coming out in the near future as well as some more book summaries and other fun stuff.
But with that being said, thanks for watching and have a great day. .
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How to Become Rich | Retire on $10 a day
user 0 Comments Retire Wealthy
Is it possible in this day and age to become a millionaire? Or perhaps the better question is why would you want to become a millionaire? I mean in media today Millionaires and billionaires for that matter are often not depicted in the best light. Characters like Scrooge McDuck or the always supremely evil C. Montgomery Burns come to mind here. And of course right now in real life we have the ever-present Donald Trump as one of the main poster boys of the super wealthy. So I suppose with that kind of media influence hovering over us our entire lives it’s not surprising that most of us have a fairly negative view of the super wealthy and many really do not want to become a part of it. Especially since the majority of us don’t personally know anyone who’s Super Rich so we don’t have anything to really balance the scales, and that’s all we can really draw upon is what we see in the media.
And that’s really unfortunate because there’s a lot of really great wealthy people out there. But most of them are not in the public eye and even the ones that are in the public eye like Bill Gates don’t get as much media attention as someone like donald Trump does. And as a result there are a lot of misconceptions about millionaires and the wealthy in general. Hey guys, Daniel here from Next Level Life and it recently occurred to me that I’ve been neglecting a huge part of what it takes to have that next level life that we all dream of… because whatever your dream life is, you need to have the finance resources in place first to be able to live it.
So with that in mind I’m going to be starting this new series on my channel covering various topics in the field of personal finance. And as you can see by the title for my first video of the series I wanted to talk about a simple plan that, if stuck to, will practically guarantee your future millionaire status as well as take a moment and really define what a millionaire is and is not. Because believe it or not even for the average American it is possible. No you know what possible is too soft of a claim because it’s more than possible. In fact if you follow a few simple steps it’s almost guaranteed. Don’t believe me? Well hopefully over the course of this video as well as the rest of my personal finance videos that will be coming out soon I’ll be able to convince you. So without further ado, let’s get started. What is a millionaire? A millionaire is simply someone who has a million-dollar positive net worth. Meaning after subtracting debts and other liabilities and expenses they have a million dollars worth of stuff leftover between their cash their house and all their other assets.
That’s really all there is to it. It has nothing to do with how much money you make. It has nothing to do with what type of person you are or how well-known you maybe, it simply means that your assets are valued at least 1 million dollars greater than your liabilities. But how can the average American get to that $1000000 positive net worth in their lifetime? I mean $1000000 that’s 6 zeros, i’d imagine that most of us have never written a check with more than three zeros. Unless of course you bought a new car or house with cash and if that’s the case kudos to you, you may not even need this video because you’re already probably well on your way to that million-dollar net worth. Now I said that if you follow a few simple steps it’s not only possible to reach that million-dollar marker, it’s almost guaranteed.
Let’s find out how. Well I did a few calculations and found out that over the course of the last 40 years the S&P 500 has returned an average of percent per year not including dividends. Now technically speaking past results are no indicator of future returns, but until we see the future returns this is the best we’ve got to go off of. So assuming that over the next 40 years the market does roughly the same as it did since 1978 you could invest $2per month over the next 40 years and become a millionaire. Again assuming no dividends. Now 261 dollars may seem like a lot but when you break it down it’s not even $10 a day, and there are lots of ways to save money. You can cut cable, or go down to a lower internet speed, or not eat out quite as often, or use coupons when you’re shopping for groceries, or you can do none of those things and instead find a way to make a little bit of extra income.
Maybe you start mowing lawns or shovel and driveways on the side, maybe you start selling old clothes that you don’t need anymore online, or if you’re young you might be able to start teaching people how to use social media better. You’d honestly be amazed at how many people would pay you to do that. There’s a ton of options out there, all you have to do is pick the one or maybe few that work out the best for you and start your own Journey on the path to becoming financially independent. Now there’s a couple of things that I want to clear up before ending the video for those of you who are a little bit more Analytical in nature. That percent is the geometric mean rate of return that the S&P 500 has had since 1978 according to Yahoo finance. All I did to get it was go through each year and look at where the market was in September because as of the recording of this video September just ended.
Then I put them all into the Excel spreadsheet and calculated the return. And I think the reason why we hear so many different rate of returns thrown around by Financial gurus is because of the inflation effect. I’ve heard gurus say that you can expect to earn anywhere from 6 to 10% per year in the market. And depending on what time frame and type of average you use any of those numbers could be true. For example if you go from 1978 and use an arithmetic average the average return on the market would be about percent per year. Inflation is generally assumed to be about three to four percent so if you adjust for inflation your realized return would be somewhere in that 6 – 7% range. If you don’t adjust for inflation of course you’re at nearly a 10 percent return. So there you go there’s a simple formula to retiring with the amount of wealth that most of us would consider to be rich.
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Read MoreI Retired Rich At Age 27…And This Is How I Did It
user 0 Comments Retire Wealthy
Today I want to share with you exactly how I retire at the age of 27 how I did it and maybe how you could do it as well you see I started very early at a young age the path of entrepreneurship I started my first business when I was in high school just with a couple of buddies mowing lawns for people in our neighborhoods that’s my very first business there are three things that I did during this time that allows me to retire young and with higher rich so the very first thing is this I focus on developing what I call high income skills my high income skills skills that allow me to bring value to the marketplace in exchange of money now I define high income skills as skills that could make me $10,000 or more per month you see the first five years of my business career when I was getting started the first five years I didn’t take a single day off I was working 12 to 14 hours a day seven days a week for the first five years while all my friends they were out there drinking drinking and having parties and chasing girls I was fucking working I sacrifice I made a lot of sacrifices I believe if you don’t sacrifice for your dream then your dream becomes your sacrifice so I made a decision I pay the price early on I spent a few years of my life working on myself working on my business doing the things that most people are too lazy to do not willing to do so I could have what most people cannot have the very first high income skill that I develop was copywriting now you might wonder what that is well it’s simply the skill to use words to sell that’s it Prine persuasion or persuasion in print and our words running a one-man advertising agency myself if you watch the TV show man man that’s kind of what I was doing without all the smoking and all that bullshit but I was basically a cocking gun in my early 20s working with companies working with entrepreneurs and I was making 10,000 a month $12,000 a month in my early 20s and at the time I thought he was it was like I felt like a million bucks I thought it was the most money I’ve ever seen and I did that then later on I took that money the income did I earn I put that aside and I started coin called a scalable business now if you want to retire early and retire young one of the most important things that you have to know is noticing identifying trends at a time I went onto the internet I saw this trend on the Internet we’re talking about back then remember Netscape dial-up modem I’m talking about overture for pay-per-click you know good old days you’re watching this young young guys you may or may not even know this but I’m talking about Yahoo for search engines okay Facebook and then later on Google but I’m talking about that so when I got started back then early and I noticed a trend on internet and I was importing collectibles from Hong Kong Bruce Lee collectibles actually and I was flipping them on eBay I was doing affiliate marketing I was doing digital marketing online I was selling digital products before PDF before all these things were even popular software all these things and that’s how my first bucket of money then I took that money and I saw some of those physicists I cash out and I took that money and invest in real estate then my investments are able to support my lifestyle and that’s how I retire at the age of 27 but here’s one thing I’ve learned through that experience at the age of 27 I thought this was my dream I thought I want to get to a point where I don’t have to work anymore I’ll sit in a beach all day and that is going to be it and I did that the first month first 30 days I was sitting on a beach on English pay just to be there every single day right looking at a beach looking at the ocean I thought I have made it you know what all I got was sunburn that’s it you may dream I’m sitting on a beach every day I’m telling you when you could do it I was bored out of my mind I thought this is fucking stupid I work so hard to get here and now I’m sitting on beach doing nothing this is dumb like did I work all like this heart and may all that sacrifices for this like come on because you’ve got to understand when you’re entrepreneur I was going like this every day go go go go go suddenly when you have nothing to do when you cash out when you have investments you’re like okay I guess what else do you do right after 30 days of that I was sick and tired of it I’m like this is a dumbest thing ever so the second month I did something different actually thought you know what I’m gonna I’m gonna watch the movies so at a time I rendered a lot of movies a lot I was watching six seven movies the DVDs stack of them every single day let me tell you something I love movies don’t get me wrong but when you’re watching six seven movies every fucking day you don’t like movies so much anymore believe me okay after 30 days of that I’m like this is again the dumbest thing ever i I just felt like I so lazy I felt like I wasn’t doing anything with my life then I went to talk to my mentor and he said okay Dan he’s what I want you to do I want you to start in other business I said no no I’m not gonna start another business I was killing myself all these years so I could retire you don’t understand I’m not gonna work he said no you’re gonna start outta business I said no I am NOT gonna start down to business he said you’re gonna start another business I said no but this time he said you’re gonna start a business from a totally different place because now you’re made it you could start your business coming from a place of strength coming from a place of abundance coming from a place of something that you want what do you want to create build it around your wor strength build it around your passion because now money’s not an issue you’re not just doing to make money what could you do how could you use all the skills that you’ve accumulated you’ve developed all the business acumen all the knowledge that you have how can you use that to do something great and I thought that I could do so that’s my story that’s how I retire at the age of 27 I don’t know where you’re at in your journey maybe you want to retire young maybe you want to retire at age of 45 55 65 I don’t know where you’re at but what I do know is it’s possible and what I also do know is once you get there there’s always an other step there’s always an other level so don’t wait don’t feel like you have to get to a point where hey you know what I’m gonna spend my whole life doing stuff that I hate so I could get to a point where finally I could do some stuff that I love No enjoy the journey success is a journey not a destination
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