Wanted to Retire early? What measures to be kept in mind? Read Compilation by CA Sayan Ghosh


To retire young, you need to earn, save a lot and invest aggressively in planned and disciplined manner.
What to be kept in mind?
One could plan to retire early in life, say at 50. And then may be pursue a passion or a hobby to spend a major part of every day in his life.
Lot of people plan for such a life, but very few achieve the same.
To retire early, one should be able to earn handsomely early in life.
The next step is to not spend a lot but to save a lot.
The next step is to channelise those savings into investment products that would earn high returns during working years.
So a major part of the investments should preferably be through the systematic investment route into equity funds.
One should also seek the help of a good financial planner to put in place a plan that should help in achieving life's financial goals.
It's also important to have a post-retirement plan ready since an early retiree at 50, could be expected to have about 35-40 years of post- retirement life.
Suppose a 25 Year old with a monthly expenditure of about Rs.40,000/- and planning to retire at 45, would need a corpus of about Rs. 6.50 Crore. To achieve this the person would need to invest about Rs. 65,000/- per month, mostly in equities.
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About Author
CA SAYAN GHOSH
Qualification: Chartered Accountancy course
Company: Sayan Ghosh & Co.
Location: Kolkata
Member Since: 20 Feb 2020 | Total Articles Contributed: 19
About Author :
"Associate Chartered Accountant in Practicing Field basically in Direct Tax Matters and Indirect Tax Matters".
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