Start saving early should be the first plan for retirement.
Because if you don't start early, it will be very difficult after 20-25 years to save.
You will have major challenges like family expenses, children education or education abroad, child's marriage etc.
First and foremost for planning your retirement, you need to estimate your lifestyle expenses. Depending on this factor will be your savings.
Start savings at an early age. Assuming you get a job at an early age of 25 with a monthly salary of Rs.30,000 (+) per month, you need to set aside atleast 20% of your monthly income for your savings and the balance can be utilized for other expenses.
With this type of savings, slowly you can create a passive sort of income.
Because if you don't start early, it will be very difficult after 20-25 years to save.
You will have major challenges like family expenses, children education or education abroad, child's marriage etc.
First and foremost for planning your retirement, you need to estimate your lifestyle expenses. Depending on this factor will be your savings.
Start savings at an early age. Assuming you get a job at an early age of 25 with a monthly salary of Rs.30,000 (+) per month, you need to set aside atleast 20% of your monthly income for your savings and the balance can be utilized for other expenses.
With this type of savings, slowly you can create a passive sort of income.
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