Tuesday, 30 May 2017

Are we ready for sunset years....


Make hay while the sun shines but never loose sight of the sunset years.
Lenovo CPS India is witnessing rising life expectancy at birth since last many years. It now stands at 71 years as compared to 53 years in 1997.
Hotels.com CPA Life expectancy goes up with age. At the official retirement age of 58 or 60 years as the case may be, the average people can expect to live beyond 75 years. And with the advancement in medical science on regular basis, we have to concede that it will not come as a surprise to live beyond 85 years in the near future.
eBay IN But the million dollar question is whether we are in a position to live so long ?
Jabong CPA IN Generally we plan our retirement till 75 but are now likely to live longer. So let us be ready to spend our sunset years in penury if we do not plan properly right from the very beginning, when we start earning.
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Another important factor to be considered due to the risk of living longer is shorter working lives. In the earlier days people used to start working at the age of 20 to 21 years. But with the advent of higher education system for better prospects, younger generation starts working at 24 to 25 years.
Swiggy CPA Now a days people are unwilling to adopt 9 to 5 working and reporting to somebody else. They are aspiring to be their own bosses which is perfectly fine and should be encouraged.
AirAsia CPV They are also exposed to the concept of passive income through business on e commerce platform and want to retire early This apart other reasons like health issues, inability to cope with work pressure and redundancy compels many of us  to quit before the official retirement age of 60.
Maxstores CPS The fact of the matter is that practical working life is shrinking due to early retirements, both aspirational and forced. So in this situation careful financial planning becomes critical and needs immediate attention of all concerned.
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Another stark reality is that the family safety net has also shrunk and children may not take care of their parents in future. Even if the next generation is willing to take care of parents, the burden on them will be high.
Oyorooms IN At the same time the assurance of pension is vanishing. Even government employees who joined after March 2004 will get a pension that is linked to their contribution to their National Pension Scheme.
US - PowerDVD 17 Others too need to think about their retirement plans as their retiral benefits may not see them through more than two decades at best. Worse off will be those outside the formal retirement planning structure, like contract workers, self employed professionals and employees in similar units.
Limeroad IN Many people live with the misconception that their expenses will come down drastically after they retire. While expenses like transport will certainly reduce but medical costs etc will take a surge depending upon how we have  maintained ourselves in our younger days.
Retired individuals have to maintain their health and there is no choice here. And also no insurance company will give you cover at 70. Even if they do through co-pay products, premiums will be very high.
Corel PDF Fusion All other expenses will also go up exorbitantly due to inflation. Hence, Retirement planning is most critical because all other goals can be met through loans.
Pepperfry IN But what is to be done to accumulate an adequate corpus ?
The first and foremost requirement is to understand and fall in the habit of saving. We must save 30% of our earning to start with and increase it as we catch up with our age. As a matter of thumb rule it should gradually increase to a percentage which is same as our age.
This means a 40 year old person should save 40% while a 50 year old should save 50%. Start planning for retirement early in life to make the most of the power of compounding.

However, planning early has its own limitations as the calculations may throw up a very large requirement. But there is no need to get overwhelmed by large numbers and give up. Allocate whatever you can as your income is bound to increase in future.
GearBest.com INT Dedicated pension plans, mostly from insurance companies, cost a lot and come with myriad restrictions like compulsory buying of annuities using 67% of corpus. Since investors have to buy annuities from the same companies, pension plans don't make sense for accumulation.
Bigbasket CPA Whether one should buy annuities at the time of retirement or continue with a SWP kind of structure is a perennial question because the risk of managing one's own portfolio at a later age becomes difficult because the investment landscape changes totally in 30-40 years. It's always better to delay annuity purchase which may help to get better rates.
HepFly Mobil [iOS&Android,non-incent,TR] It's always better to go for mutual funds wherein the flexibility allows us to manage the new options that may come in future. Mutual funds with SIP should be resorted to to the maximum possible extent.
Zivame IN Investing in products like senior citizen savings scheme  is mandatory for newly retired persons. Another option is to invest in tax efficient debt mutual funds and withdraw through systematic withdrawal plans.
Diverting retirement corpus is a candid mistake. Instead of withdrawing provident fund when changing jobs, it is always better to shift it the new company.
Adidas CPA One way to make sure that investment grows faster than inflation is by investing more in equities.
But this requires learning and lots of patience and perseverance.
Though all of us want to enjoy a retired life, to stop working at 60 may be a costly proposition. This is because life expectancy is increasing and your retirement corpus will deplete all too soon.

Right after retirement we must go easy on spending. withdrawing heavily from the corpus in the initial years can be suicidal.
But if one can go into e commerce, there are ways and means to have passive earning which makes it completely feasible to retire early. This however needs mindset, attitude and determination.
Let us remember only 3% of the population is rich, holding 97% of the wealth whereas this should be the other way round.
So make the right decisions and enjoy life to the fullest......

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Saturday, 27 May 2017

Perennial Principles of Life .....

Hello dreamers ...

God has always been kind to me.
With the latest addition to my family by way of arrival of my grand daughter 20 months back, there was a need to move to a bigger dream home which I wrote in my dream book.

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And it all happened very fast. It took just 7 months to take physical shape and here I am sitting in my chair in my new home and feeling blessed to write this blog.

I firmly believe dreams are for real once we know the art of writing and converting them into reality which I shared  in one of my earlier blogs.
Let us remember God always says yes to whatever we say.

I also talked about purpose of life which is difficult to find out because it is something which is way beyond dreams. It's quite normal but I have found out mine.
My grand daughter is the purpose of my life which I could find out some time back.

Netmeds IN
God has blessed me with a lovely family.
My children are well placed in their lives and they are well equipped to take care of themselves.

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And of course my most important dream before he calls me is to leave my legacy and ensure that my wife is well taken care of by herself without depending upon anyone when I am not there.

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She is the most important person in my life who always stood by me, encouraged and helped me in changing as a human being. To me she is the perfect life companion, a friend, a mother and the most beautiful woman in true sense on this planet earth.

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The bond gets stronger, I realize, as we start catching up with our age. We pass through a phase when we care more for each other than ourselves which is the beauty of the relationship of a wife and husband.

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God is kind to me.

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Today I would like to share about Perennial Principles of Life.

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Lord Mahavira : The Prince of Peace gave us the most important lesson of non-violence in thought, word or deed. " In war one may defeat a million invincible enemies, but to conquer one's own self is the greatest victory. One who conquers the self conquers everything."

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Guru Jambeshwar : Preached the worship pf God as one. And over 51 years traveled across the country imparting 29 commandments which gave his followers the name Bishnoi. The greatest legacy of Guru ji is reverence for Nature. In doing so, he reiterated India's ancient civilizational credo. His followers, also enjoined to have compassion for all living beings, give up all toxicants, swear by the tenets of ahimsa ( non violence) and satya (truth), and adhere to a vegetarian diet.

Oyorooms IN
Lord Dattatreya : The path of Dattatreya embraces all spiritual paths and is the source of all other traditions. He who treads the path of Truth, regardless of what religion he belongs to, is treading the path of Dattatreya. As an incarnation of god, Datta came down to spread the universality of true religion. anyone can be his follower, regardless of cast, creed, status. No matter what sect or religion the true seeker follows, eventually he comes under the guidance of Lord Dattatreya, the Eternal Spiritual Guide of all mankind.

Lord Buddha : The law of cause and effect is known as Karma. Nothing ever happens to us unless we deserve it. We receive exactly what we earn, whether it is good or bad. We are the way we are now, due to things we have done in the past. Our thoughts and actions determine the kind of life we an have. Every moment we create new karma by what we say ,do, and think, If we understand this, we do not need to fear karma. It becomes our friend. It teaches us to create a bright future.

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Guru Nanak : The great Bhakti saint and founder of Sikhism's teachings distilled into our everyday life would be simple, but profoundly impactful :
Sharing with others, helping those who are in need.
Earning/making a living honestly, without exploitation or fraud.
Meditating on God's name to control your senses.
These, and the unwavering belief in a single, omniscient Godhead are the talisman to live by in this world.

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Excited to be alive today

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Monday, 22 May 2017

Life is to enjoy ....

Good morning

The happiest people do not necessarily have the best things.
They simply appreciate the things they have.
Shoppersstop CPV There are certain niggles in our life that we need to understand, accept and  continue to face for the rest of our life.  It is just not possible to escape from it.
Once we realize that, anyhow, we have to face it for the rest of our life, we should not complain about it. It should not bother us all our life. And in order to be peaceful in life, we need to transform ourselves to accept these things and learn to deal with it and move on.
PizzaHut (CPS) In all the major cities of the world, traffic will be normally heavy during peak hours though there are floating office timings at many places. People like us, the daily office goers and other commuters cannot escape from it as long as we continue to live in a city. So complaining about it for the rest of our life will not be of any help; it will only make us miserable.
 This is something we have decided to suffer as long as we commute in a city. We can choose to get along or move away from the city or choose not to commute. Complaining all the time about traffic congestion, waiting at the signals, cursing authorities, cursing ourselves will rob us of not only our mental peace but adversely affecting us on other fronts as well.
MMT-IF Take the case of students. All parents want their children to be at the top but we must not forget that there can be only one at the top. It is better to accept the children as they are; guide, support and encourage them to do their best at studies rather than comparing them with others.< Foodpanda IN A similar situation can very easily be seen in professional life where the competition is cut throat. The need of the hour is to accept what we are and keep on learning from our experiences for continual improvement.
Cleartrip IN So let's accept that God has sent all of us with unique individual personality into this world under his master plan
If a life insurance agent  hesitates to use the word "death', then he or she can never be successful in the professional life. We cannot be a salesman if we are afraid of rejections because it is an integral part of a salesman's life. Similarly, competition is part of any business. One cannot continue in business and be disturbed by competition whether it is healthy or unhealthy.
Etihad CPS Every profession comes with certain niggles. It is an integrated package.We cannot allow it to disturb us on a daily basis. There is no denying the fact that competition exists. What we need to do is to understand it and apply our mind to decide what can be done. We need to deal with the niggles and not get get tensed about it.
If we have chosen to be a businessman, we need to play it like a game; play to win by using smart strategies.
We truly get liberated  when we realize that a little less with peace of mind is far greater than a little more with no peace of mind. Once we realize this, we will not get tensed at work and there will be no question of taking tension home from work.
TinyDeal INT Forget past
Learn from the experiences of the past
Enjoy the present
God is always with us

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Engineering final year ...

Good evening Today I continue to talk about my final year of engineering course which in fact got extended into 5th year becaus...