How Do You Say You Have Enough Money To Retire ?
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- Опубликовано: 11 апр 2021
- #nri #nrimoneyclinic #financialplanning
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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.
Great are the people who make complex things look simple. Good guide to prepare oneself to retire .
Simple, easy to understand for people like me from non-finance background. Thank you for your tips. 🙏🙏🙏
Great & very Deep FA On our Retirement goal
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
You still need to eat and have medical treatment.
@@tintunbirha ddddz
Vanaprastha
Sanyas ashram 😂😂
If you dont splurge money after retirement, you will be fine. Spend only on necessities.
Thank you! I liked the way you explained it.
Great, useful looking forward to meet you soon.
Good one. What you have not included is reverse mortgage of property if you are a single or have no children/wife behind.
Thank you Dr for sharing.
May God Bless you and your family.
Woth love from Malaysia 👍
Great video sir!!!!!! Thank you 🙏🏻
Very well presented. It should be a part of the financial education for everyobody.
Immensely informative... Thanks for the great advise...
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.
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
Superb, realistic & approachable explanation.
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.
Very well explained. Thanks..
Couldn’t agree more. Excellent advice
Excellent and very dignified advise for people 🙏
Excellent informative topic. Thanks👍
New subbie! When you pulled out that 100 envelope challenge is a beast. I vote summer challenge Great job!!
Good presentation. Easily understandable.
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..
Very good informatiom
Thanks for the useful info.
Very nice explanation in favour the topic.Thank you.
Great to hear your advice. May God bless you Sir
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.
So nice of you. Please subscribe and keep sharing the videos
@@NRIMoneyClinic Sir, when I see your video first time I became your subscriber. I cleared some doubs through your WhatsApp no.
Very informative n useful.thankyou sir
Dr Chandrakant, thank you for a very good insight on financial planning. Your 4% rule gives good confidence to me.
How well u explain.....
Good eye opener 👍
Very well presented .
Thanks a lot 🙏
👍👍👍
So nice of you. Please subscribe and keep sharing the videos
excellent sir on the retirement advice . Thanks Narayan raghavendra
Superb one. Great eye opener
Nice video i have got best information about retirement
Thankyou Sir
Very useful info sir... thank you.
Super Advise. Thank you, Sir.
Thank you sir for great knowledge
Very very nice Sir Excellent
Really helpful
Appreciate
Thank you for vaulable insights. Will contact you to discuss further.
Very very appropriate and rational advice for retirement planning
Sir thank you for the podcast. Would you be kind enough to provide your insight on how to invest during inflation
Very very useful guidance 👌
You explain very well
Bhatta Ji,
This video is very useful. Among your best videos.
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
Excellent information sir
shukran , thank you, Dhanyavad, Abhar, Shukriya..
Excellent explanation sir
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.🙏🏻
Very good
Nicely presented the plan
Thank You Please subscribe and keep sharing the videos
Great information
Sir you are Simply the Best Guide & Guru regarding Financial Advices.
Hare Krishna
Hare Rama
Almighty Bless You.
🙏👌👍
So nice of you. Hare Krishna . Please subscribe and keep sharing the videos
Sir, can you please explain RNOR when he should close nre fcnr accounts. Can Rnor maintain Nre fd and fcnr fd
What can we do...after 4% rule???
Means where to invest and how to grow this money???
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...!!!
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
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
Awesome
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
A very nice presentation and guidance.
Glad you liked it. Please subscribe and keep sharing the videos
What do u mean by rental real estate. In one video you mentioned that income from house rent is only 2%
Excellent information and one of the best advise.Keep it up Sir.
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
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.
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Pomp⁰0.
When you are too old it is hard to chase tenants
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.
Thanks.
If my present monthly expenditure = my present monthly government pension how much money should I have?
Good advice by Mr Bhatt Saab
Very practical presentation. Even a layman can understand very well.
I agree with you
Thank you so much . Please subscribe and keep sharing the videos
Nice video. ..
Am a practical person pertaining to budgeting. Spend within my means & cautious not to fall into the over spending with impulse purchases.
Thanks Sir, My doubt get cleared by watching this video
Thank you very much for your feedback
Makes good sense.
Very informative...
Glad it was helpful!Please subscribe and keep sharing the videos
Nice one sir......your language is so soothing.
Thanks a ton. Please subscribe and keep sharing the videos
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
Excellent explanation
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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
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
Thank u
Very well explained. 👏 Thank you.
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@@NRIMoneyClinic 🤣🤣🤣
Very nice illustration. Effective Presentation style.
Thank you! Cheers!. Please subscribe and keep sharing the videos
The problem with rental income is many times the tenants don't pay any rent at all or pay whenever they feel like
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.
What about for those getting pension
Thanks sir, you are 99% correct. I say this because these days rental income is not inflation proof, specially in INDIA. Thanks once again.
It generally is.. For eg.. I have a 3BHK flat in Bangalore that fetched 9K rent in 2009 and in 2023 the rent is 32K.. this translates into a 9% growth which is above average inflation of 6%.. obviously the property value the gone up 6 times !! which is very profitable
Theoretically right. We have to pay taxes to live. One has to consider taxes when calculating. G ST, TDS etc. burden.
Agreed.
DR BHAT U R GREAT MAN
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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
Wats SWP of mutual funds
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Model tenants act is here...if your state passes it .. it may help
@@rajprema.6425 = Systematic Withdrawal Plan
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.
Tumba Chennagidhe Sir
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..
Exactly. LOL
Great content. Thank you Mr. Bhat
My pleasure. Please subscribe and keep sharing the videos
Sir, Already subscribed. I will share with my friends and colleagues as I can see very useful information is covered in all your video topics. Once again many thanks and God bless your work.
Nice
Sir please make a video on personal accident insurance plan, in spite of being so cheap why is it so less advertised?
Namaskaara Bhattare. Very good video. Will hope to meet you when I am in Bengaluru.
So nice of you. Sure we could meet . Please subscribe and keep sharing the videos
I get you well from tanzania
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
When you have been going after your passion there is no need to worry about pension and retirement.
You have a point . Please subscribe and keep sharing the videos
Absolutely stupid baseless statement.. unless one has learnt to monetize hoa/her passion... ridiculous.
Passion doesn't pay bills..
@@NaNa-lt1po Anything is baseless and stupid until you know how to do it. Turning passion into money isn't something new. If u don't know then thats' your limitation