Too much planning, living frugal, not doing certain things when should be doing, worrying too much about the future, not knowing you would live till 90 or not. Shankar ji don't you think we should be enjoying too. I don't think even 5% people achieve financial freedom. I would love to have some data, if its available. I am an avid follower of yours and always like your content. I am 67 and still work 7 days by choice to keep myself busy and actve. I have only one regret, that when i was young, i wanted to do backpacking trips abroad, i was busy making money, but now with all my money, i cant enjoy backpack trip as i would have while younger. So planning is always good, but enjoying life and doing certain things inlife right at the right time is also important. I think man proposes and god disposses.
Financial freedom is about having a freedom to not work, if you so choose. I have accumulated enough to last me a lifetime. True, I'm frugal and don't have many desires, but that too is out of choice, not forced by the situation. I still haven't retired, because I'm making more than my investments are earning and I my job isn't a burden on me, but I think I won't be able to justify spending time for my job against my bucket list. Whenever that time comes, I'd be free to do so. That's financial freedom.
Anil ji - you raised many points and thanks for sharing your experience. My father lives a similar life and I guess I was conditioned that way too but at the age of 42, I decided to try something different by shedding my "salary" tag and taking up teaching via RUclips You said it right - 1. too much planning, 2. living frugally, 3. not doing certain things at the right time, 4. worrying too much about the future etc. After 1 year of working for myself, I can safely say - I am not ascribing to points 1, 2, 3 or 4. With re: data, I'm exhibit A and I can confidently say that I am not an exception. I'm now meeting many like-minded people who have taken that leap-of-faith, have believed in oneself .. consequently changed their lives and attained financial freedom many times over. I'm having dinner next weekend with a young man in his early thirties who has sold 50% of his business (which he set up less than 3 years back) for 7 crores. I must have met more than 20 such men & women in the past year and many have generously shared their approach & continue encouraging me. The idea, they say, is to reach financial freedom in the next 5 years rather than the next 15 … and by no means, this equates to stopping work post reaching one's financial freedom. Personally, it's very primitive to box "work" and "money" in the same quadrant (thinking like Mr. Kiyosaki now). The happier people are the ones who work and have their money taken care of .. rather than people who work-for-money. To put it together - I am coming to realize that the pursuit to financial freedom has two tracks to it - a) the journey of getting there and b) the journey after getting there. And in my opinion, neither of these two tracks requires us to plan too much, living frugally, not enjoying things along the way or worrying about the future. Hope this helps
@shankarnath shankarji, thank you soo much for your response. You are the only you tuber who tries to reply to each and every comment even after nearing 100k subscribers. Hats off to you and I love you for that. Good luck.You helped me a lot in the past by advising me that it doesn't matter much if I even invest today at all time high and my time horizon is 30-40 years. Thanks , I have completed my investment and made a long-term portfolio for 3 cr. I am not seeking any clarity or clarification, just want to emphasize that life is a long journey and many unexpected things happen and planning necessarily doesn't always work. But spoiling your present and plan ING for the future too much, is not worth it. Chasing 30-40 crore basket is not easy for majority of the people, exceptions are also there and in my opinion financial freedom is for the select under 5% people like the percentage of 2%+ wealthy people in the world. So dream, but be realistic. SUCCESS COMES TO THOSE WHO HAVE DREAMS. Try to be happy and enjoy the small things. I agree with you 💯 but putting forward my life experience. Bottom line one cn be happy with little money, without financial freedom.
I'm a mandevian myself and also have my own sheet of post tax returns and corpus required for retirement. Thanks to you, I have started working towards the "Barista FIRE" model you mentioned in an earlier video. Thank you so much for the inspiration!
Shankar Ji - thanks for this video, have watched this a few times. Had downloaded the Excel and updated my personalised future expenses. I am 39 now. Tweaked my Excel a bit to find corpus needed to retire at 50. Surprisingly, even if I want to leave an amount of 20 Crores at 80 years to next gen, my retirement corpus requirement doesn’t increase much. May be because the PV of 20 Crores forty years from now is only 1.25 Cr. Using the Excel gives much more conviction that we are adopting a robust process.
Too good. Thanks a lot. This is surely important but it is very frightening. One has to have a serious look at it. Investment in equity only can give us relief.
Hi.... Thanks...nice one... i saw the calculator and worked on it..... It would be great if some passive Income streams such as House Rent, Pension, Dividend income etc are added in the calculator so that for the balance one can target for a realistic retirement corpus......best wishes for such great videos... god bless ..
Thanks for the kind appreciation .. and the suggestion. As every individual would have different scenarios, I've kept the worksheet downloadable and completely customizable. The formulae are not complicated and there is no INDEX, MATCH or LOOKUP functions there. It should be a lot easier to change the entries as one pleases, please feel free to work on it per your own requirements.
Excellent video as always. I downloaded the retirement calculator and tweaked it as per my requirements. Getting a fairly good idea of the corpus that I need to accumulate! Thanks a lot for this video.
That's great! Yes, please customize per your needs. And it's important to visit this every year as so .. as circumstances change faster than we predict it. Thanks for the appreciation and wishing you the best
Thank you very much 🙌 .. incidentally, I posted my first video on 05-Nov-2022. So it's a race .. will the 100k happen before my 1st year anniversary! I think I should beat it by a couple of days, lets see
Great video. I’ve studied this a lot while I was still working on my FIRE journey which I was able to hit by 32 thanks to a lot of content and learning out there. Additional note I used to love your past videos without the fancy editing sounds like the click sounds etc. you talk really well and hence those aren’t needed to maintain my attention
That 4% rule was born in USA. Growth rates in India are twice that of the United States. Also income tax in India is much lower. Plus we don’t have an inheritance tax.
Excellent info and excel sheet. Much useful. Btw, do you have any video on selection debt MF.? I did see your old videos in ET. They have some pointers.is there any better video on this subject?
Thank you. No, I haven't made anything on debt instruments/mutual funds in this channel. I have it on my content queue .. will look into it soon enough
Sir both excel and the the 5 step simple calculation will give similar results. The huge difference is due to the age, in one u have considered 45 as starting year and in second 60. U just chk the corpus balance at end of 15 years that is at the age of 60 in u r excel, u will be exactly get 18 cr corpus balance.
@@shankarnath Sir, Case 1 - U r neighbour will have a corpus balance at 60 Yr of age is 18 cr. Reflected in u r excel calculation itself. Case 2 - Is 5 step simple process, which you explain also requires similar amount.
Yes, the calculator follows an annual format. Making it monthly might be a lot more cumbersome, a bit like how many of us get monthly salary but spend money on a regular basis like daily. Personally, annual works for me
Best and easiest way to calculate retirement corpus would be as follows in my opinion If your yearly expenses are 6,00,000/-, then from your FD itself you should be able to spend 6,00,000/- every year and save double the yearly expenses. That is to say if you get 18,00,000/- every year, you are very safe. Now the question is how much should one save to get 18,00,000/-. Simple FD means you should have 3.6 crores, which will give you 18,00,000/- per annum at 6 percent per annum. So in my opinion if your monthly expenses now is 50,000/- and if you have 3.6 crores in bank FD, you can happily retire. Thanks for 1000 likes😂😂
Dear Shankar Sir, I'm referring to the link and observed that it has been shared as an HTML view which makes it impossible to download as the menus are not visible at all. Could you please help?
Hi, dozens of users have already downloaded the google worksheet so this might be more of a browser issue at your end. May I request you to take help from someone else on their laptop. Alternately, I have downloaded the worksheet and uploaded it to a GDrive folder; pls see if you can access this. Link: drive.google.com/drive/folders/1G83SemcFXlGDD9qPmcf99NKx7wKTW9QG?usp=sharing
@@shankarnath Hello Shankar sir. Thank you for such a prompt response. Honestly I wasn't expecting it :-p But yes, I have downloaded the file from your Google drive link. Kudos to you truly..
Current Age which is also the retirement age. So my neighbour who is 45 years old now wants to know the amount he should have in his corpus to retire now.
@@TravelTechJay 35 .. pls observe there is no column for income in the worksheet so it doesn't matter what the current age is. The idea is to map out (and as it says in the title of the video) .. how much money is needed when you retire
1000x of monthly expense for 65yr in retirement is a sweetspot. (Assumption 8%inflation & 6%post tax return on entire corpus) Ofcourse i have not mentioned all the extra details
Too much planning, living frugal, not doing certain things when should be doing, worrying too much about the future, not knowing you would live till 90 or not. Shankar ji don't you think we should be enjoying too. I don't think even 5% people achieve financial freedom. I would love to have some data, if its available. I am an avid follower of yours and always like your content. I am 67 and still work 7 days by choice to keep myself busy and actve. I have only one regret, that when i was young, i wanted to do backpacking trips abroad, i was busy making money, but now with all my money, i cant enjoy backpack trip as i would have while younger. So planning is always good, but enjoying life and doing certain things inlife right at the right time is also important. I think man proposes and god disposses.
Sir. There will be something you will regret, and one should make peace with it. No one can do everything and don't have any regrets.
Financial freedom is about having a freedom to not work, if you so choose. I have accumulated enough to last me a lifetime. True, I'm frugal and don't have many desires, but that too is out of choice, not forced by the situation. I still haven't retired, because I'm making more than my investments are earning and I my job isn't a burden on me, but I think I won't be able to justify spending time for my job against my bucket list. Whenever that time comes, I'd be free to do so. That's financial freedom.
@mitesh8utube fully agree with you. Good you are among the lucky 5-10% who can work towards their bucket list. Good luck.
Anil ji - you raised many points and thanks for sharing your experience. My father lives a similar life and I guess I was conditioned that way too but at the age of 42, I decided to try something different by shedding my "salary" tag and taking up teaching via RUclips
You said it right - 1. too much planning, 2. living frugally, 3. not doing certain things at the right time, 4. worrying too much about the future etc. After 1 year of working for myself, I can safely say - I am not ascribing to points 1, 2, 3 or 4. With re: data, I'm exhibit A and I can confidently say that I am not an exception. I'm now meeting many like-minded people who have taken that leap-of-faith, have believed in oneself .. consequently changed their lives and attained financial freedom many times over. I'm having dinner next weekend with a young man in his early thirties who has sold 50% of his business (which he set up less than 3 years back) for 7 crores. I must have met more than 20 such men & women in the past year and many have generously shared their approach & continue encouraging me. The idea, they say, is to reach financial freedom in the next 5 years rather than the next 15 … and by no means, this equates to stopping work post reaching one's financial freedom. Personally, it's very primitive to box "work" and "money" in the same quadrant (thinking like Mr. Kiyosaki now). The happier people are the ones who work and have their money taken care of .. rather than people who work-for-money.
To put it together - I am coming to realize that the pursuit to financial freedom has two tracks to it - a) the journey of getting there and b) the journey after getting there. And in my opinion, neither of these two tracks requires us to plan too much, living frugally, not enjoying things along the way or worrying about the future.
Hope this helps
@shankarnath shankarji, thank you soo much for your response. You are the only you tuber who tries to reply to each and every comment even after nearing 100k subscribers. Hats off to you and I love you for that. Good luck.You helped me a lot in the past by advising me that it doesn't matter much if I even invest today at all time high and my time horizon is 30-40 years. Thanks , I have completed my investment and made a long-term portfolio for 3 cr. I am not seeking any clarity or clarification, just want to emphasize that life is a long journey and many unexpected things happen and planning necessarily doesn't always work. But spoiling your present and plan ING for the future too much, is not worth it. Chasing 30-40 crore basket is not easy for majority of the people, exceptions are also there and in my opinion financial freedom is for the select under 5% people like the percentage of 2%+ wealthy people in the world. So dream, but be realistic. SUCCESS COMES TO THOSE WHO HAVE DREAMS. Try to be happy and enjoy the small things. I agree with you 💯 but putting forward my life experience. Bottom line one cn be happy with little money, without financial freedom.
I'm a mandevian myself and also have my own sheet of post tax returns and corpus required for retirement. Thanks to you, I have started working towards the "Barista FIRE" model you mentioned in an earlier video. Thank you so much for the inspiration!
Most welcome .. and wishing you the best, Vaibhav ji
Shankar Ji - thanks for this video, have watched this a few times. Had downloaded the Excel and updated my personalised future expenses.
I am 39 now. Tweaked my Excel a bit to find corpus needed to retire at 50. Surprisingly, even if I want to leave an amount of 20 Crores at 80 years to next gen, my retirement corpus requirement doesn’t increase much. May be because the PV of 20 Crores forty years from now is only 1.25 Cr.
Using the Excel gives much more conviction that we are adopting a robust process.
Glad you found it useful
i watch ur videos regularly. Ur videos are very informative , easy to understand & grasp. Doing great job kip going. God bless
So nice of you. Thank you very much!
Used the approach when Ankur Warikoo made video.
Amount comes to 12 CR for retirement.
Sir your video on FIRE and also, this one with detailed analysis is fantastic. Thank for so much.
You are most welcome! Glad you liked both of them 🙌
This channel deserves more subscribers
Thanks
Too good. Thanks a lot. This is surely important but it is very frightening. One has to have a serious look at it. Investment in equity only can give us relief.
Most welcome
Very well explained Sir!! Your excel sheet was very hepful for me in identifying the approximate retirement corpus amount..
Glad to hear that. Happy this worked for you
Hi.... Thanks...nice one... i saw the calculator and worked on it..... It would be great if some passive Income streams such as House Rent, Pension, Dividend income etc are added in the calculator so that for the balance one can target for a realistic retirement corpus......best wishes for such great videos... god bless ..
Thanks for the kind appreciation .. and the suggestion. As every individual would have different scenarios, I've kept the worksheet downloadable and completely customizable. The formulae are not complicated and there is no INDEX, MATCH or LOOKUP functions there. It should be a lot easier to change the entries as one pleases, please feel free to work on it per your own requirements.
Shankar ji very good learning content and helpful to plan future
Thanks! Glad you found it useful
Excellent video as always. I downloaded the retirement calculator and tweaked it as per my requirements. Getting a fairly good idea of the corpus that I need to accumulate! Thanks a lot for this video.
That's great! Yes, please customize per your needs. And it's important to visit this every year as so .. as circumstances change faster than we predict it. Thanks for the appreciation and wishing you the best
@@shankarnath Thanks again. Yes makes sense to revisit & understand how it pans out
@@arunkiwiBro, take care of your health as well. Health is wealth.
Advance Congratulations for your 100 k mark...
1 millon mark very soon by 2024 end
Thank you very much 🙌 .. incidentally, I posted my first video on 05-Nov-2022. So it's a race .. will the 100k happen before my 1st year anniversary! I think I should beat it by a couple of days, lets see
Really appreciable well said 🙏
Thank you 🙌
Sir, your video's are full of knowledge, thanks!! 😃
Glad to hear that. Thank you very much Baibhav
@@shankarnath welcome sir 🤩
Thank you for explaining this. Serious eye opener
My pleasure! Glad you found it informative and useful
Guruji, is that you on the thumbnail? :D
Content is of course, AAA++ as always - thanks again.
Thank you for the appreciation
Great video. I’ve studied this a lot while I was still working on my FIRE journey which I was able to hit by 32 thanks to a lot of content and learning out there. Additional note I used to love your past videos without the fancy editing sounds like the click sounds etc. you talk really well and hence those aren’t needed to maintain my attention
Wonderful content as always! 😊
Glad you like my work! Thanks 🙌
Sir iske bare me aur janna hai? personal class mill sakti hai ? btw sir very informative video.
Sure Jaskirat, lunch pe aajao kabhi bhi.
@@shankarnath done sir diwali 🕯se pehle aata hun 😀
Coming Thursday (2nd Nov) ya uske baad
That 4% rule was born in USA. Growth rates in India are twice that of the United States. Also income tax in India is much lower. Plus we don’t have an inheritance tax.
Good job ! good contribution
Thanks a lot!
Excellent presentation
Thanks a lot 🙌
Excellent info and excel sheet. Much useful. Btw, do you have any video on selection debt MF.? I did see your old videos in ET. They have some pointers.is there any better video on this subject?
Thank you. No, I haven't made anything on debt instruments/mutual funds in this channel. I have it on my content queue .. will look into it soon enough
Super useful video.
Glad it was helpful!
❤ for your efforts
Thank you!
Very Useful information video 📸
Thanks a lot 🙌
Watching during #chebre half time. As always awesome video.
Awesome! Thank you
Well presented..
Thank you 🙂
Please give a review of Ray Dalio all weather fund
Here you go: ruclips.net/video/e2qHOOPTyaA/видео.html
Sir both excel and the the 5 step simple calculation will give similar results. The huge difference is due to the age, in one u have considered 45 as starting year and in second 60. U just chk the corpus balance at end of 15 years that is at the age of 60 in u r excel, u will be exactly get 18 cr corpus balance.
Oh. In that case, can you pls post in this comment your step-wise calculation for the 5-step process & how it comes to 9.96 crores?
@@shankarnath Sir,
Case 1 - U r neighbour will have a corpus balance at 60 Yr of age is 18 cr. Reflected in u r excel calculation itself.
Case 2 - Is 5 step simple process, which you explain also requires similar amount.
Really Good
Thank you! Cheers!
The expenses will be monthly but the return on the corpus will be end of the year. Is that how the calculator works. Wondering if this can be tweaked?
Yes, the calculator follows an annual format. Making it monthly might be a lot more cumbersome, a bit like how many of us get monthly salary but spend money on a regular basis like daily. Personally, annual works for me
@@shankarnath Thanks. Also Iam assuming no part of the return on the corpus is reinvested to get the benefit of compounding. Any options there?
@@srinathv4018A large portion of the capital gain is reinvested to receive compounding benefits. Please examine the formula in the worksheet
Thanks
Sir I am 58yr old likely to retire with
Corpus of 1cr and monthly pension 1.5L
How better I can lead mny post retired life
Pl suggest
Hi sir..Quant AmC mutual funds are not performing from last 1 year.. do you find any reason , throw some light on it sir..hoping a video on same topic
Thanks for the suggestion
Best and easiest way to calculate retirement corpus would be as follows in my opinion
If your yearly expenses are 6,00,000/-, then from your FD itself you should be able to spend 6,00,000/- every year and save double the yearly expenses. That is to say if you get 18,00,000/- every year, you are very safe.
Now the question is how much should one save to get 18,00,000/-. Simple FD means you should have 3.6 crores, which will give you 18,00,000/- per annum at 6 percent per annum.
So in my opinion if your monthly expenses now is 50,000/- and if you have 3.6 crores in bank FD, you can happily retire.
Thanks for 1000 likes😂😂
Unfortunately 0 likes so far.
@@nehamarchar353 yes Nehaji 😒😒
GOOD ONE
Thanks
Great video. Thank you for it. Can’t find link to excel sheet. Need your help to share it with me.
The link to the worksheet is there is the description of the video. Can you go through it again?
Could manage to find out over desktop computer. Thank you.
Most welcome. Were you looking for it previously over TV or tablet then?
@@shankarnath tablet
Mandevian here ... 2015-17 batch
Nice to have you here! 🙌
Loved watching your video's.
As suggested earlier, it would be great if you make video on stock specific.
Thanks for the appreciation and suggestion
So beautiful
Thank you so much
Dear Shankar Sir,
I'm referring to the link and observed that it has been shared as an HTML view which makes it impossible to download as the menus are not visible at all. Could you please help?
Hi, dozens of users have already downloaded the google worksheet so this might be more of a browser issue at your end. May I request you to take help from someone else on their laptop.
Alternately, I have downloaded the worksheet and uploaded it to a GDrive folder; pls see if you can access this. Link: drive.google.com/drive/folders/1G83SemcFXlGDD9qPmcf99NKx7wKTW9QG?usp=sharing
@@shankarnath
Hello Shankar sir.
Thank you for such a prompt response. Honestly I wasn't expecting it :-p
But yes, I have downloaded the file from your Google drive link. Kudos to you truly..
ManDevIan here as well !
🙌
❤️❤️
I downloaded excel, in example given age input is for "current age" or expected retirement age?
Current Age which is also the retirement age. So my neighbour who is 45 years old now wants to know the amount he should have in his corpus to retire now.
@@shankarnathIf 25 year old guy wants to retire at 35, what input should be added? Current age or retirement age?
@@TravelTechJay 35 .. pls observe there is no column for income in the worksheet so it doesn't matter what the current age is. The idea is to map out (and as it says in the title of the video) .. how much money is needed when you retire
Thank you 🙂
There should have been a column for the present age and the age at retirement. This sheet is only to retire today and not to plan in advance.
Looks like a unrealistic number. I don't think we need that much to survive.
How we can get this excel sheet
Just go to video's description and click on the link
Gratitude:-)
Thanks
Thanks.
I can never retire after seeing the calculation🙃
Thank you very much!
Study shows tht most of the retirees hve over saved and leave huge unspent money & property for next gen while living a super frugal life throughout
Delay gratification, and you won't need much to start with!
Eg, buy a samsung s23 rather than the 23 ultra!
1000x of monthly expense for 65yr in retirement is a sweetspot.
(Assumption 8%inflation & 6%post tax return on entire corpus)
Ofcourse i have not mentioned all the extra details
Cannot find excel sheet