Express YourSelf !

1. We must have Monthly Budget

- We need to analyze our expenses to find out planned and unplanned expenses

2. We shall have Emergency Fund (9x to 12x monthly expenses)

It includes: 

- Term insurance

- health insurance

- Critical illness cover

- disability cover

Does it includes

- credit cards?

3. Do not ignore inflation. 

4. Power of compounding : SIP

5. Invest in equity and equity related product

- People invest in FD, Real estate, Gold

- Rich people do not invest in FD, Real estate and gold. 

- They become rich by their own business or other's business (equity) 

1991 to 2023

CAGR 19% 

BSE sensex 999 to 65000 points

- No for F&O

- No for intra-day

- We should have Goal Based investment. Without that, we get sub optimal return

A. Child's education

B. Dream vacation

C. Retirement plan

- What create wealth

A. income

B. savings

C. investment

We buy things we don't need. with money we don't have to impress people, that we do not like. 

6. New trend in abroad: Financial freedom and retire early. 

Funding retire is different. 

- must do

- no return

- For car/home all wants to provide load. No loan for retirement. 

How long saving will last after retirement? 

0 to 30 : student and early stage career. 

30 to 60 : accumulation and save

60 to 100 : distribution

Today Rs. 60,000 monthly expense

7% inflation

325646 after 25 years. 

We can try "retirement corpus building XLS"