Discover and read the best of Twitter Threads about #RetirementPlanning

Most recents (15)

The actual cost of delaying an #investmentdecision is often unknown until one notices a shortfall in their corpus.

This often prevents one from achieving your goals on time.

Let's explore the cost of delay with an example. (1/n)

#financialplanning #financialgoals
Let's say you are 15 years away from retirement.

After retirement, you require ₹60,000 per month in expenses (in today's value) to live comfortably. (2/n)

#retirement #financialplanning #savings #investing
The final total goal amount that you require to sustain yourselves through retirement is ₹3 Crores. (3/n)

Read 12 tweets
If you ever wondered...

"Do I need a Financial Advisor?"

...this thread can help you decide!

Read on! (1/n)

#financialadvisor #financialplanning #financialgoals #personalfinance #thread
Before we begin, reflect on these two questions...

When choosing between two similar investment options, have you ever wondered which one you should pick?

Ever wondered if an #insurance policy could protect your family or if it was just bells and whistles? (2/n)

These are the exact situations in which a Financial Advisor can help do away with uncertainty and help you make the right choices for YOU!

Here are 4 ways how a Financial Advisor can help: (3/n)

#financialadvisor #financialplanning #personalfinance
Read 13 tweets
Most employees don't really know why they get a tax refund when they add to an RRSP.

They understand that they do get one, and that it's "good" but really they don't understand the mechanics.

It's actually so simple.

Your employer is estimating how much tax you'll owe based on how much they're paying you.

If you add to a personal RRSP, your employer doesn't account for that in their estimate.

When you put money into an RRSP, the CRA won’t charge you income tax on the amount you put in.
If your employer estimated that you'd owe money on that, they paid that amount to CRA on your behalf.

This is your "withholding tax". It's meant to ensure CRA gets their due.

Withholding tax is just an advance payment of your annual income tax.
Read 6 tweets
Are you a Senior Citizen looking to secure your Retirement and generate regular income?

Let's explore the Top investment avenues that offer stability & security! (1/n)

#seniorcitizen #investment #retirement #fixedincome
As we grow older, it's important to plan for retirement and consider investment options that offer stability and security.

Here are a few Investment avenues that offer capital preservation and regular income. (2/n)

#retirementplanning #investment #income
#1 Senior Citizen Savings Scheme (SCSS)

SCSS is a popular investment option for individuals above the age of 60.

It offers an interest rate of 8% p.a., which is higher than most fixed deposits and has a tenure of 5 years. The interest is payable quarterly. (3/n)

Read 10 tweets
Almost every millennial aspires to retire early. But most of the time, this goal seems almost impossible to achieve.

Well, let us tell you... it's NOT impossible! Welcome to the world of FIRE! (1/n)

#financialplanning #financialgoals #retireearly #thread
So, what is FIRE?

FIRE stands for Financial Independence Retire Early and it's all about achieving financial freedom so that you can retire early and live life on your own terms. (2/n)

#financialindependence #financialfreedom #retirementplanning
Can you achieve FIRE in India?

Yes, you can!

Firstly, you need to focus on your Savings Rate (SR). This means cutting back on unnecessary expenses and living below your means.

A high SR is key to achieving financial independence. (3/n)

#saving #investing #FinancialFreedom
Read 12 tweets
NPS vs APY vs PPF : Where should you invest for your retirement?🤔

We've made it simple by using the following 7 parameters:

- Aim
- How does it work?
- Withdrawal
- Eligibility
- Risk appetite
- Income Tax Benefit
- Liquidity

#retirementplanning #personalfinances #finance
1⃣ NPS - National Pension scheme

Provide regular income to citizens when they stop working.
How does it work?

All you need to do is deposit an amount regularly and get the benefits of compounding on the returns.
Read 22 tweets
Is there a SMARTER way to buy Term Insurance?

Can you get back all premiums paid while paying the same premium as a Pure Term cover?

This all sounds too good to be true, doesn't it? Let's dive deeper to find out 👇 (1/n)

#terminsurance #insurebesure #insurancepremium #thread
Zero-Cost Term Insurance plans allow you to 'exit' from the policy, thereby getting all the premiums that you have paid back.

But wait... What's the 'catch’? (2/n)

#insurance #terminsurance #financialfreedom
The CATCH is... You are allowed to exit the policy only within a specified period.

Let's look at an example. (3/n)

Read 13 tweets
Just a month into the new year and we already see some new myths floating around Financial Planning.

In this thread, we aim to debunk some of these myths & take a look at how financial planning can help you, the reader! (1/n)

#financialplanning #FinancialFreedom #MythVsFacts
Myth #1 Financial Planning is Only for Rich People

At their core, a good Financial Planner helps YOU achieve YOUR GOALS. Everyone has goals, not just rich people.

A good financial plan will help map your goals & help make your 'plan' a reality. (2/n)

Myth #2 I am too old/ too young for a Financial Plan

Age is no bar. You are never too young or too old to have a proper financial plan in place. Planning can help people build wealth over a period. (3/n)

#FinancialFreedom #financialplanner #retirementplanning
Read 8 tweets
There are two main types of IRAs:

Traditional IRAs and Roth IRAs.

There are a few things to consider when deciding which to pick, this includes contribution limits, tax implications, and your specific financial situation and retirement goals.

Let's discuss:
Keep an eye on fees:

When investing in an IRA, it's important to keep an eye on fees such as annual expenses, trading fees & account maintenance fees.

These fees can eat into your investment returns over time, so it's worth comparing options and choosing an IRA with low fees.
One key difference between the two is how they are taxed.

Contributions to a Traditional IRA may be tax-deductible in the year they are made, depending on your income and whether or not you have access to an employer-sponsored retirement plan.
Read 8 tweets
I finally read "Just Keep Buying" by Nick Maggiulli @dollarsanddata, which changed my outlook on investing and finances.

Here are some powerful takeaways for myself from the book.

#investing #finances #retirementplanning
1) Key to saving more is to increase your income.

Your expenditure does not ⬆️ in line with your ⬆️in income.

The amount you can consume is limited while the income you can create is unlimited.

The gap between them is your increased savings
2) How do you know if you are good at picking stocks

Most of Fintwit including me think that we are good at picking stocks.

But Nick has shown that even the best fund managers have periods of non-performance.

It is hubris to think that we can outperform the market.
Read 8 tweets
How can I buy a house of 50 Lakhs & retire with a corpus of 1 Crore, both by the age of 45?

well, invest just Rs 15K per month! 😱
Don't believe? See, our experts have chalked out a way for you👇👇


#retirementplanning #personalfinance #FinancialFreedom #investing
Owning ur dream house & early retirement are two most important milestones for any individual. However, one often gets compromised for the other! 😕

People hv dreams, but haven't really planned for it! This was evident in a research we did based on millions of inputs ⤵️

⚠️ 83% Indians haven't planned for #retirement !
⚠️ 77% Indians haven't planned for dream house!

(Find more shocking facts in d full report for FREE:…)

Anyway, if u r one of those who haven't planned, worry not. We'll help u👇


Read 9 tweets
Thread 🧵on Public Provident Fund #PPF

Everything you need to know about PPF.

Must read for everyone, especially youngsters as retirement planning should start at young age.

(If you like then please re-tweet to maximize reach)

#InvestmentPlanning #RetirementPlanning #Pension
#RetirementPlanning should start at very young age for maximum benefit of #PowerofCompounding.

& ... PPF can be one of the good investment avenues to make a large retirement corpus.

This Thread will explain details of PPF

@caniravkaria @Vivek_Investor @VidyaG88 views welcome

Public Provident Fund #PPF is a retirement benefit scheme introduced by the central government.

It is a popular long-term investment option that offers a high degree of safety to your investment capital.

#ProvidentFund #Investing #InvestmentPlanning #RetirementPlanning
Read 22 tweets
My Bi-weekly Newsletter on Personal Finance and Investing.

Overview of this initiative in the attached file. First newsletter from tomorrow.

Newsletter - 1

Welcome to my first newsletter!

Topic: 5 priorities in your financial life

Duration of read: ~ 6 minutes.

Newsletter - 2

Topic: Emergency fund (One of the first priorities discussed in our first newsletter)

Duration of read: ~5 minutes

Read 21 tweets
Long Thread on F.I.R.E.
Financial Independence & Early Retirement

#financialindependence #financialfreedom #earlyretirement #financialplanning #retirementplanning
FIRE = Financial Independence Retire Early
Less than 1% people really understand the true meaning of financial independence. And even less than 1% (of that 1%) are capable of aspiring for it. And even less than 1% (of that 1% of that 1%) are capable of achieving it.
Read 48 tweets

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