This video explains a very important but yet very neglected aspect of financial planning, i.e. retirement planning.In today’s age, when youngsters are getting high paying jobs and they are hence getting used to a ‘high spending’ type of a lifestyle, there is a fair chance of something as mundane as retirement planning getting ignored. In fact it is happening quite a bit. The biggest advantage that a young person has is he or she has time on his/ her side.Most people never realize that the real asset is time. Small amounts of money, but invested for large periods of time can give miraculous returns due to the higher compounding. The earlier one starts investing, the easier it is for that person to accumulate wealth. Retirement Planning is especially crucial for women because after marriage they may have shift to some other city/ country. It may also happen that they may have to quit their jobs. Under such circumstances, the investments made in the early years, those before marriage, would continue to grow.By the time she turns 45-50, this small amount would have become significantly large, thereby ensuring financial independence at all times. Now a days there are no pensions in jobs. We all have to manage ourselves for our own post retirement expenses.A combination of old age and poverty is one which we would not wish even for our worst enemies. To prevent ourselves from getting into such a pitiable situation, it is important we understand what needs to be done and start taking right steps from today itself.Small sums but invested regularly, from early 20s of a person, and continued for two decades can actually allow a person to retire @ 40! This is achievable. Easily achievable. But start @ 20 and stay the course for next 240 months.So here is a video for all the young boys and girls of India who are also the future of our great country! Wish you all the best in your investment journey. Source : Money bee Channel on youtube
