Jagoinvestor
May 29, 2010
How to think about Retirement Planning (Video)
Retirement Planning is one of the most important aspects of financial planning. Here is a 3 part video series on Retirement planning which gives you a good idea of how to plan for it and how to think about retirement planning . Look at how to 6 Steps of doing Retirement Planning by yourself
Part 1
Part 2
Part 3
A very good book every one should read is “Retire Rich Invest” written by P V Subramanyam . Give your comments 🙂
What do you think about the DTC and its impact on Equity linked mutual funds? From what I can see, as a freelancer I can only invest in the New Pension Scheme (NPS) to get tax breaks. But the NPS only allows me to invest 50% in equities – thus cutting my returns. Plus I don’t like annuities – which I will have to purchase when I retire.
I’d like to hear your thoughts on this whole mess in a post from you!
Bhagwad
Will be posting about this soon in a article .
Manish
can you please suggest me a monthly pension scheme which gives more returns with risk and no risk.
Sunitha
It does not work that way , you have to take risk to get more return . There are options like Annuity plans and MIP’s which gives you regular income , however those are not suggested .
Manish
Magazines, websites, are all useful to equip yourself when you talk to your financial planner / somebody who is helping you with your investing. To think they can be substituted by reading 6 steps is amusing. If you do not know how to cook, your kitchen tells you in 30 minutes. If you choose a wrong doctor your body tells you in 30 hours. If you s*c*w up your portfolio – without any review by anybody, after 30 years you will know that you…s…d up. I know of companies buying stupid general insurance policies which do not pay when the event happens. L O L. All the premium paid is a waste. Same is true for people who have bought term insurance from a company which has a clause of 5 year premium review IN TERM insurance. L O L. Buy cheap repent later :). Posts like this should carry a disclaimer…
Dear Mr. Subramanyam,
“To think they can be substituted by reading 6 steps is amusing”.
Let me clarify the point I am trying to make: Manish’s article demystifies goal planning to a good extent.
Call it Indian mentality if you wish, but I am of the opinion that CFPs tend to make goal planning look like rocket science and remind me of greeting card companies who market Valentines day, mothers day etc. and Jewelers who market Askhiya Tritya. So I am not going to a CFP (I cant afford him/her anyway).
I would rather read a decent article like Manish, use some common sense, research financial products (I have LOTs of time!), determine what I can save, review my portfolio every year and build my corpus. I can assure that I am saving more that Rs. 40 a day in the right ways.
A screw up is possible in any case: by me or by a CFP. All I am saying is that I believe that it IS possible to do it successfully yourself. Surely a man of your experience should allow for such a possibility although I am sure you have seen a lot of screwups!
In any case Manish’s article is way way better than the video.
“5 year premium review IN TERM insurance”: Wonder which product are you taking about?
Strongly agree with your explanation. *Simplicity* is what is *missing by most of the CFP’s in their advices to a investor. 6 steps in retirement planning by Manish always beats any retirement product. We all are fed up of marketing ideas like greetings on Valentines day, mothers day and putting same concepts by CFP’s when comes to financial product.
Subra
tell more on this 5 yrs premium review , I was searching for it and didnt found anything ? no wonder 🙂
Manish
From where I can find link to 6 steps in retirment planning by Manish? could u please hare the link
Manish
here is the link : http://jagoinvestor.dev.diginnovators.site/2009/07/6-steps-of-doing-retirement-planning-by.html , you can also look at http://jagoinvestor.dev.diginnovators.site/archives to find all articles or search in the “search box” at the top right .
Manish
I am 100% agree with pattu dear :). Go for 6 Steps of doing Retirement Planning by Manish.
Dhiraj
Thanks 🙂 . So much confidence from readers on me . Feels good
Manish
Dear All,
Skip the video. Instead read:
6 Steps of doing Retirement Planning by yourself by Manish.
I became a full time fan and (some-time critic!) after reading this post.
I structured my retirement planning following this.
IN fact it is this post which gave me the confidence that I could do planning on my own with some quality help.
The video is a total waste. Its only message is “Start Early”. There is not a single piece of complete information provided in the interview.
Pattu 🙂
Thanks for appreciation , I am trying to post some other views and bring in some video content . thats all .. anyways these are just fillers as always 🙂
Manish
Manish
In third part of video, it talks about pension plan, which doesnt have any excessive charges like ULIP. Do you have any review about those existing pension policy. and how it track agaiint normal mutual fund + term insurance combo
John
There might be some ULPP which do not have excessive charges like ULIP , but still there are other issues like in ULPP or any pension product you dont have the liberty to take 100% money , you have to leave 66% in an annuity and get montly income , at the end if they do not provide you decent % return , what will you do then ?
Other issues are no premature withdrawals , recently IRDA has said that now ULPP will also have insurance covers .
Manish
Manish,
Have you read the book? If you have, can you write a review of it?
Regards,
Vinod
Vinod
I have read the book, I can say its a good one for starters , simple and effective, though it misses the flow sometimes i feel 🙁
Manish