Retirement Planning

At 6% inflation, your cost of living will double every 12 years. Ex. If your age is 40 years and household expenses are Rs. 1 Lakh per month, household expenses will be 2 Lakhs at 52 and 4 Lakhs per month at 64 and 8 Lakhs per month at 76 and will keep doubling every 12 years at 6% inflation. 

Are you planning for it?

Average life expectancy in the year 1960 was 41 years. Average life expectancy in the year 2022 was 71 years. An increase of 30 years in the past 62 years. Life expectancy in the coming years will further increase due to advancement in medical research and technology.  Average life expectancy of 71 year does not mean that all for will live till 71 years. It means, more no. of people will live longer. Till 80,90, or even 100 years.

Are you planning for it?

It’s good, in case you have health insurance. If not buy one. Also, after having health insurance, you will be requiring nursing and medication requirement at home in your old age. Health insurance companies do not pay you for nursing at home and regular medication expenses. 

 Are you Planning for it?

All human being, regularly try to upgrade there lifestyle. Due to inflation, price of goods and services will increase with time. You do not have any control on Inflation, but what about lifestyle inflation. You regularly want to upgrade your phone, house, car and living standard.

 Are you Planning for it?