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Source: Live Mint -Name withheld on request Firstly, it is great to hear that your cousin has successfully paid off their home loan at the age of 35 and has begun investing 30% ( ₹45,000 of ₹1,50,000) of his income towards their retirement goal. They are also utilizing the additional tax exemption under Section 80CCD…
Source: Live Mint When calculating the FIRE number, one rule of thumb is to simply multiply your annual expenses in the first year of retirement by the number of years of retirement. The number of your retirement years, in effect, becomes your expenditure cover multiple. If your annual expenses in the first year of retirement…
Source: Live Mint Financial experts came together at the Mint Money Festival 2024 to discuss FIRE (financial independence, retire early), how to execute it, and things to look out for along the way. FIRE was popularized by the 1992 bestselling book Your Money or Your Life by Vicki Robin and Joe Dominguez. Here, people seek to…
Source: Live Mint The past few weeks have been tough for the Indian markets. While a 10% fall in indices isn’t unusual, the frequency of such falls has fallen significantly since the pandemic and as a result, new investors are learning lessons that old timers have known for years. With that, let’s come to the…
Source: Live Mint While NPS Tier-1 offers tax benefits but restricts withdrawals, Tier-2 offers flexible withdrawals without tax benefits. Mutual funds command an asset base of ₹67 trillion. The NPS Tier-1 account has an asset base of ₹2.28 trillion, excluding contributions by state and central government employees. Meanwhile, the NPS Tier-2 accounts for just ₹6,510…
Source: Live Mint Retirees or those close to retirement face the challenge of managing their savings throughout their lifetime. At this stage they no longer have the luxury of building up their savings and instead need to withdraw from their corpus. They cannot afford substantial erosion of their corpus as it must cover their expenses….
