Excellent advice. I would like to add the following. 1. Do not distribute your monies or estate to your children however much they may press you. Keep your wealth for yourself and your wife's lifetimes. You can bequeath your estate and monies to your children after demise of yourself and your wife. 2. Do not leverage or borrow cash to invest as if the stocks fail you will not only lose your cash but will also owe money to the bank or institution which provided you with the leverage.
Few other things to bear in mind post retirement: - Simplify your living, reduce spend - Dispose of things that you don’t use/need - Draw a will when you are un-emotional - Have some hobby, read - Watch less TV news
One of the commonest problems retired persons are facing where to safely park their retirement corpus so as to get simultaneous healthy returns for sustenance and growth. Thanks.
Problem with our generation was it was a triple whammy. Expensive education of children, Expensive marriages of children and their migration away from us. So we are left alone in old age.
Excellent advice. Children can take all your funds and in later years you land in cleaning toilets, mopping floor and washing clothed and utensils in their premises. Wifes will take most money and make gold, which they can give their daughter or Brothers children. Hence keep atleast secrt policy that delivers 50 lacs 10 yrs post retirement.
Great presentation.. clear, concise, practical and very relevant. I was a bank manger. Many many retirees had to me desperately asking for help get back deposits from NBFCs who incidentally were also our customers. It was too late every time.
All the rules are here very important to since many of our friends entangled & suffering, Many even our children are also so helpless that we are unable to have lively hood and searching for an employment where only exploitation & meagre remuneration, so much problems, thanks for having uploaded such a practical & informative video,
You hit the home run. You one of the few to give such concrete advice. 👍 Please add not to loan large sum to family and friends near to your retirement age and none when retired.
I had done this mistake of lending money to my parents to save my brothers business and a small plot was registered in my name double to the money I lent to them, later when my brother got married , my parents asked me to register back the plot just for the amount they took from me along with bank interest after almost a decade. I had to give it back with grace , but none acknowledges that it was a good deed from my end . Even my parents till today never told a kind word to me. Friends I feel cheated and have resentment grown inside me after doing a good deed.Had I bought a smaller plot from outside the family , bow after 20 years I would have made my retirement fund at ease🥲Karma
The most important thing in retirement is to have multiple hobbies so that you are engaged for the better part of the day. And the goal should be to excel in one or more of them.Learning should never stop.It keeps the gray matter ticking and helps you live a content life.
The clarity with which you are talking is amazing and the examples you are giving are very appropriate also. You are doing a great service by doing so.👍
Sir , An excellent explanation for Retired life advice in the state of Tamilnadu 21-22 ,22-23,23-24 60% of state Government employees getting retirement ,it the guidance for them. Very useful to me I am at 58 years Thanks very much 🙏
I am not able to solve my pre retirement issues. Hence I can not plan anything about retirement. Children is not settled even after my retirement. I pray the God for peace of mind only nothing more than that.
Dear Chandrakanth sir... You r doing very great contribution to society. All these things u narrated in this video are eye opening messages. Plz do and publish many more videos sir. God bless you sir
Hello Sir from South Africa 🇿🇦. Your way of explaining these points are simple, clear and concise. I am now following you and have shared this video. Thank you.
Regarding buying property - what you mean is have some lumpsum amount and then buy property because I think in India this is the most reliable way to safegaurd retirement.
Instead of investing in a rental property, better purchase a low priced open plots in smaller towns, so that we can sell the plots one by one for every 3 years of retired life. It gives more appreciation than any other investments.
Thank you for the wonderful advice. Let us all take note of this and put in practice. The message is important for those employed as they prepare to retire and those already retired to stop the bad practices.
It was very useful to listen to your tips for retirement but I have done most of the mistakes already before I realized.Hope today's young will follow your advice!
Very nice n useful video by Doctor. This is very useful for young people, those who want to retire to make best planning, saving , invest money for retirement, to save 30 percent of their salary for retirement purpose. This is is very useful talk to most of the people. God bless.
This is great advice for the working class or young people. If a man is in prison already you cannot prevent him from going to prison. None the less great advice.
Sir, the real purpose of a retired life is to live a peaceful life amidst all. It's a general practice to read prospectus before we invest in our money everywhere. Earning of more and more money after retired life cannot be a solution at the cost of a tension free life. Small is always beautiful and that should be the philosophy in retired life
Admirable,,, suggestion,,, for the,, service,holders,,,,,, regarding the,, steps to, be taken,, before,, fifteen years of,, retirement,,,tnx, 💐 for sharing,, the, brilliant idea
Very good explanation. One doubt , what is the solution Wher to keep the retired benefits Not bank No property. Not depending on children Oops. What is the solution?
Keep the retired benefits with a trust worthy friend or split the money in 5 lakhs each and make fixed deposit in each bank and also monthly pension scheme with Post Office or KVP.
Dear Dr I,m very glad that finally somebody like you come out with your very valuable advises that hopefully will give awareness to everybody . Am a nurse have nursed so many old women and men with diseases and financial problem . Hopefully this advise will be very usefull for the new generation and future generation. Thank you Dr Chandrakhant Bhat for your valuable advises .Well said ,vey clear . May God bless you and your family .Stay safe. With love from Malaysia.👍
All your points are absolutely correct and useful .I'm short of suitable words to give the real value and I will convey it to my younger ones as I'm already a senior citizen. Having said this may I request you to give some suggestions to guide what someone can do avoiding small banks etc for more return ,
Regarding bank deposits: If we deposit our money in Regional Rural Banks, we will get better interest rate than SBI and Nationalised banks. Pl note, all Regional Rural Banks are Govt banks. Another advise is, better to deposit money @ Rs. 5 lakhs in each bank (not cooperative banks)in the name of single person in single capacity. Then it will cover under deposit insurance . Regarding purchase of house (not Flat in apartment). It is better to some extent, if you have required income by way of pension etc for routine expenditure. During retirement period, we may take "Reverse Mortgage Loan" in state Bank etc., against house to meet high expenditure needs. If possible, we may repay it in stallments, before our last breath. After our last breath, bankers will approach our legal heirs for repayment. If they pay, well and good. Otherwise, they will sell the house in public auction. In other words, no pressure from banks for repayment until our last breath. I think, above two are most useful to everybody.
Instead of banks to for FD with institutions like TaminNadu State Power Finance Corp. Safe because owned by state government and interest rate upto 8 percent .
I have some suggestions that before retirement. We should plan to change life style and healthy food . Specially organic food. Keep busy in library, grocery shopping , relative and FRIEND specially ailing GO to MASJID , MANDIR , GURDAWARA AND CHURCH . If you agree please response thanks
@@NRIMoneyClinic want to ask you,when I retired in 2020 I was working,now that I was froghlow because of the pandemic,I want to retire full time,how do I go about that, should I re apply again,
Excellent advice. I would like to add the following. 1. Do not distribute your monies or estate to your children however much they may press you. Keep your wealth for yourself and your wife's lifetimes. You can bequeath your estate and monies to your children after demise of yourself and your wife. 2. Do not leverage or borrow cash to invest as if the stocks fail you will not only lose your cash but will also owe money to the bank or institution which provided you with the leverage.
Yes true...
Perfectly right
100% true
Great video and great lesson for those who keep their children as a investment and ending up on crying for help.
It was a good experience listening to your speech because in one year i m going to retired
Take one piece of advice from me..
Don't disclose your retirement time in open platforms.. it may attract evil eyes
Few other things to bear in mind post retirement:
- Simplify your living, reduce spend
- Dispose of things that you don’t use/need
- Draw a will when you are un-emotional
- Have some hobby, read
- Watch less TV news
Very lucid advice. I like this man's videos on financial planning. No nonsense, only common sense and plain talk. I love that.
One of the commonest problems retired persons are facing where to safely park their retirement corpus so as to get simultaneous healthy returns for sustenance and growth. Thanks.
I like your quote... Dont give more importance to child education... Than our retirement... I like it
Thank you . Please subscribe and keep sharing the videos
Problem with our generation was it was a triple whammy. Expensive education of children, Expensive marriages of children and their migration away from us. So we are left alone in old age.
@@dilipmundhada5875 Correct
Really a good advice for retirees.There are so many retirees who do not enjoy their golden because of their own mistakes.
Sir,
Your advice is so realistic & well thoughtful pieces..
God Bless..
Excellent and practical advice, one should always give highest priority to proper financial planning in the spirit of Keeping it simple.
Thank you
Kindly provide answers & guidelines on how to succeed in retirement with independent financing. 🙏
Best video from a financial expert !
Glad you liked it. Please subscribe and keep sharing these videos
Excellent advice.
Children can take all your funds and in later years you land in cleaning toilets, mopping floor and washing clothed and utensils in their premises.
Wifes will take most money and make gold, which they can give their daughter or Brothers children.
Hence keep atleast secrt policy that delivers 50 lacs 10 yrs post retirement.
Well said
Great presentation.. clear, concise, practical and very relevant. I was a bank manger. Many many retirees had to me desperately asking for help get back deposits from NBFCs who incidentally were also our customers. It was too late every time.
All the rules are here very important to since many of our friends entangled & suffering, Many even our children are also so helpless that we are unable to have lively hood and searching for an employment where only exploitation & meagre remuneration, so much problems, thanks for having uploaded such a practical & informative video,
You hit the home run. You one of the few to give such concrete advice. 👍
Please add not to loan large sum to family and friends near to your retirement age and none when retired.
Very imp
I had done this mistake of lending money to my parents to save my brothers business and a small plot was registered in my name double to the money I lent to them, later when my brother got married , my parents asked me to register back the plot just for the amount they took from me along with bank interest after almost a decade. I had to give it back with grace , but none acknowledges that it was a good deed from my end . Even my parents till today never told a kind word to me. Friends I feel cheated and have resentment grown inside me after doing a good deed.Had I bought a smaller plot from outside the family , bow after 20 years I would have made my retirement fund at ease🥲Karma
Very good advice for the serving/retired persons.
Thank. You. For. Your
Valuable. Speech. Which
Is. helpful. for. Retiring
and retired.
Mrinal. Sen
Very good advice. Practical and real life.
I am retired, and it is nice advice to me to follow.Thank you.
Issues raised by you are great and practical but can you suggest what should be?
Im in USA and tgis advice is relevant here too great job sir
Thanks for your advice which will be helpful during our old age period. Your suggestion shall be made a guidelines for our advance age.
Supe message for the retired and Senior citizens. Thanks Sir
The most important thing in retirement is to have multiple hobbies so that you are engaged for the better part of the day. And the goal should be to excel in one or more of them.Learning should never stop.It keeps the gray matter ticking and helps you live a content life.
I strongly agree. I am a retiree myself.
@@eleupazdaiz7647 Great.I am a full time painter and seriously into woodworking too.24 hours is too less in a day ! Best wishes from India 🇮🇳.
You have given Golden advice to the Retirees.
I find the video is very informative and on realistic situations. Applicable for everyone in any countries.
Thank you for your kind words. Please subscribe and keep sharing the videos
Awesome video for a retired personal
Good advice but i am not agreed with you regarding property investment as a retirement plan .
Explained in a very decent way. Very much delighted. I am 68. Thanks.
The clarity with which you are talking is amazing and the examples you are giving are very appropriate also. You are doing a great service by doing so.👍
Thank you so much for your kind words. Please subscribe and keep sharing the videos
Good idea. Are you a.. Muslim.
Excellent & very useful advise Sir.Thanks & Regards
Very interesting & realistic awareness for crucial retirement needs. 👏 very well-done
Very informative sir. Everything in the video is the plain truth. I like it being myself of 69 years. You're absolutely right, sir.
Sir. Thank you for the advice. However how does one not depend on only pension ? What options do they have.
Very useful &clear simple explanation for safety for Rtd life of sr Citizen's.
Thank you sir.
Thanks, you are really a fountain of knowledge...
Sir ,
An excellent explanation for Retired life advice in the state of Tamilnadu
21-22 ,22-23,23-24 60% of state Government employees getting retirement ,it the guidance for them.
Very useful to me I am at 58 years
Thanks very much 🙏
Thank you . Please subscribe and keep sharing the videos
It is our fortunate that such a learned person like you is making chennel which provides many valuable information. Thanks a lot.
So nice of you.. Please Keep sharing the videos and subscribe
@@NRIMoneyClinic I have already subscribed and shared. Thanks for your reply.
Thanks Sir from South Africa. I am a retiree of 2 years & your advise has reinforced importance of retirement planning
Thank you so much for your feedback. Please subscribe and keep sharing the videos
I am not able to solve my pre retirement issues. Hence I can not plan anything about retirement. Children is not settled even after my retirement. I pray the God for peace of mind only nothing more than that.
Dear Chandrakanth sir... You r doing very great contribution to society. All these things u narrated in this video are eye opening messages. Plz do and publish many more videos sir. God bless you sir
Good article. Thank you
Very cogently explained. I think nothing more can be added. Very relevant for those who have travelled through around half of their working life.
Very well explained. All 6 points are very valid.
Thank you so much. Please subscribe and keep sharing the videos
Hello Sir from South Africa 🇿🇦. Your way of explaining these points are simple, clear and concise. I am now following you and have shared this video. Thank you.
Thank you very much for your feedback and kind words
Lot of thanks for giving valuable advices
The topic is very good. I request to discuss the solutions also
Regarding buying property - what you mean is have some lumpsum amount and then buy property because I think in India this is the most reliable way to safegaurd retirement.
And one can buy a rental property several years before retirement so that there is no EMI pending.
Thank you for the 6 Mistakes to avoid during retirement.
What about a list of 6 Good Things to do when going to retire.
Good advice for people like me. Just retired but realised only 1 mistake i did that not selling property. Rest 5 mistakes i was aware. Thanks sir.
Very very clear and sound advice to all of us who entered in the retirement age around 60 or above, very informative thank you Mr Bhatt
Very good advice and well explained
Very good advice, in a simple manner. Thanks a lot !
Instead of investing in a rental property, better purchase a low priced open plots in smaller towns, so that we can sell the plots one by one for every 3 years of retired life. It gives more appreciation than any other investments.
Great Video. Little Correction: Under New Pension Scheme government pension amount is also fixed doesn't get adjusted to inflation
Thank you for the wonderful advice. Let us all take note of this and put in practice. The message is important for those employed as they prepare to retire and those already retired to stop the bad practices.
Advice well taken I have observed all the mistake with retired members
This guy is great. Good advice and great articulation skills.
It was very useful to listen to your tips for retirement but I have done most of the mistakes already before I realized.Hope today's young will follow your advice!
Appreciate it, watching from uganda
Dear sir excellent narrative for Senior Citizens Regards AAshokkumar Hyderabad 💐
Excellent! Well appreciated.
Highly appreciate your golden advices .
Very Informative and well explained sir.
Thank you very much for your kind words
Very nice n useful video by Doctor. This is very useful for young people, those who want to retire to make best planning, saving , invest money for retirement, to save 30 percent of their salary for retirement purpose. This is is very useful talk to most of the people. God bless.
Thank you for sharing your wisdom.
May God bless you 🙏
Well said. Thank you for sharing. Anthony from Santacruz, Mumbai, India.
🙏🏾 thanks for such precise advice, 💐Bhopal MP
Please make video on early retirement.
What age and investment planning?
This is great advice for the working class or young people. If a man is in prison already you cannot prevent him from going to prison. None the less great advice.
Sir, the real purpose of a retired life is to live a peaceful life amidst all. It's a general practice to read prospectus before we invest in our money everywhere. Earning of more and more money after retired life cannot be a solution at the cost of a tension free life. Small is always beautiful and that should be the philosophy in retired life
Admirable,,, suggestion,,, for the,, service,holders,,,,,, regarding the,, steps to, be taken,, before,, fifteen years of,, retirement,,,tnx, 💐 for sharing,, the, brilliant idea
Very informative. Sir pls make a video on good ways of investment ideas after retirement to get a monthly income till end
You are really a good adviser
Thanks 👍
Excellent. Very interesting & useful guidelines.. 👏👏👏
Really helpful for retired and retiring people
Very good explanation.
One doubt , what is the solution
Wher to keep the retired benefits
Not bank
No property.
Not depending on children
Oops. What is the solution?
With a trustworthy friend
Keep the retired benefits with a trust worthy friend or split the money in 5 lakhs each and make fixed deposit in each bank and also monthly pension scheme with Post Office or KVP.
You will run the risk of losing both money and relationship .
@@NRIMoneyClinic what's the solution...
A very smart useful advice for the retirees. Tq. Sir
Should be added in college syllabus. In my case I have planned not even a single mistake account for
Dear Dr I,m very glad that finally somebody like you come out with your very valuable advises that hopefully will give awareness to everybody .
Am a nurse have nursed so many old women and men with diseases and financial problem .
Hopefully this advise will be very usefull for the new generation and future generation.
Thank you Dr Chandrakhant Bhat for your valuable advises .Well said ,vey clear .
May God bless you and your family .Stay safe.
With love from Malaysia.👍
Excellent narration.
Very good information. What a retiree should do with his retirement money; such as 401k accumulation of USA retiree.
Im lucky. My dad is 83.he is still not dependent on me financially. Im 52.i will never be dependent on my son financially
Same here
That’s great…. 👍🏻👍🏻
We too same 👍🏻👍🏻
Very very good suggestions, it is really very practical and true.
Really praiseworthy advice sir!
Thank you so much for your kind words . Please subscribe and keep sharing the videos
Very compassionately explained. These are the topics one feels uneasy to broached. Example point 2 . Thank you!!
How much percentage of people recieve pension of about 50000/ in India?
Very very less!
Very nice and lucid analysis. Most vital issues were raised and illuminated thoroughly for ease of understanding .
All your points are absolutely correct and useful .I'm short of suitable words to give the real value and I will convey it to my younger ones as I'm already a senior citizen. Having said this may I request you to give some suggestions to guide what someone can do avoiding small banks etc for more return ,
1
Really worthy information and all should follow the guidelines, Mr. Chandrakant. Thank you, so much.
Regarding bank deposits:
If we deposit our money in Regional Rural Banks, we will get better interest rate than SBI and Nationalised banks. Pl note, all Regional Rural Banks are Govt banks.
Another advise is, better to deposit money @ Rs. 5 lakhs in each bank (not cooperative banks)in the name of single person in single capacity. Then it will cover under deposit insurance .
Regarding purchase of house (not Flat in apartment). It is better to some extent, if you have required income by way of pension etc for routine expenditure. During retirement period, we may take "Reverse Mortgage Loan" in state Bank etc., against house to meet high expenditure needs. If possible, we may repay it in stallments, before our last breath. After our last breath, bankers will approach our legal heirs for repayment. If they pay, well and good. Otherwise, they will sell the house in public auction. In other words, no pressure from banks for repayment until our last breath.
I think, above two are most useful to everybody.
Instead of banks to for FD with institutions like TaminNadu State Power Finance Corp. Safe because owned by state government and interest rate upto 8 percent .
Retiring in September 2021.
Great help.
Thanks
Hundred per cent truth you said 👏👏👏👌👍
Simply beautifully INTELLIGENTLY Speaking looking videography editing and presentation.
Thank you for your feedback . Please subscribe and keep sharing the videos
I have some suggestions that before retirement.
We should plan to change life style and healthy food .
Specially organic food.
Keep busy in library, grocery shopping , relative and FRIEND specially ailing
GO to MASJID , MANDIR , GURDAWARA AND CHURCH . If you agree please response thanks
Very good guidance for We retired people
Thank you . Please subscribe and keep sharing the videos
Thank you so much for your suggestion, with this lesson i would be benefited a lot during my retirement life.
Thank you so much for your feedback. Please subscribe and keep sharing the videos
@@NRIMoneyClinic want to ask you,when I retired in 2020 I was working,now that I was froghlow because of the pandemic,I want to retire full time,how do I go about that, should I re apply again,
Very practical
Thank you of invaluable comments.
Brilliant Advice 👌🙏