Smart Living & Earning Ideas

Every week, if not every day, a similar question comes into my feed. Words may be different but the tone is almost always: I am ___ years old. I wish to retire at ____. How much money do I require to live independently? Unfortunately, every case is different. There are many parameters and hence there is no one single answer. The factors that affect are: What are your current expenses not including any debt/loan repayments? Are there any loans that are being serviced? (Here you said that the home is loan-free but what about other loans? A car loan is very common at the age of 45.) How many children do you have? What are their ages? (The cost of raising a single child can be high. As per Robert Kiyosaki, a family is “a liability”.) Do you support your elder parents/parents-in-law in any way? What kind of lifestyle do you follow? If you look at the chart below, I have tried to capture all kinds of expenses - daily, monthly and annual. Expenses You must look at your daily, monthly and

I have Started Investment since August 2023. Here is my networh as on 13th January 2024 . EQUITY BREAK UP : MUTAL FUNDS BREAK UP

How to control your finance : 10 Simple Rules to follow to control finance : 1. THE NET WORTH RULE This rule originated from 'The Millionaire Next Door' book. It has a simple way to determine if you are wealthy in the US. Multiply your age by your pre-tax annual income & divide by 10. If your net worth surpasses the result, you are wealthy. There’s an Indian version of this as well. Some experts suggest using 20 instead of 10 as the divisor in the Indian context. For instance, say you're 30 and earn Rs 12 lakh annually. Your net worth should be at least Rs 18 lakh to earn the 'wealthy' title. 2. RULE OF 72 This helps you determine the time it will take for your investment to double. How does it work? Simply divide "72" by the rate of return you are earning. For example, with a 9% return, it will take 8 years (72/9) to double your investment. 3. RULE OF 70 This tells you the impact of inflation. Divide "70" by the inflation rate,