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Pre-Planning for your Retirement

Friday, April 16th, 2010

Didn’t hiring a wedding planner to create perfect moments on your big day seem like a good investment? So why not let a retirement planner help you live the life of comfort that you crave for during your working years. A lot of people ask me how much money I should set aside for my retirement. I always repeat that the quality of life you would like to enjoy, when you are older, depends on how much you are able to save for it now.

Do A Quick Calculation

Considering your current financial situation-

* Think of all the things you would like to be able to afford in the near future.
* Think of how much you currently save, and how much you would need to save to live comfortably for the next five years.
* Now triple that. This should give you a target of the bare minimum you need to save for five years post retiring.

The first step of a good retirement plan would be to determine your objectives. By doing this, you are listing out all the wants and needs for whenever it is you plan to retire. Every person has individual needs; these necessities need to be well taken care of. Are you availing of any IRA or any sort of pension? Keep all this in mind before going ahead.

From the above points, gather all the information you would need to consider before even thinking of making a retirement plan. Three other major things you need to consider are-

1. The cost of living in the future, inflation, taxes, as well as health care costs.
2. Your stocks, ventures, etc for their current worth, as well as their projected worth to gauge what sort of income you can expect from them.
3. Estate planning encompasses protection of your assets for you as well as for your beneficiaries. Most people assume they can over look this part. However, never underestimate it’s role in your retirement portfolio.

If you wish to learn more about other factors which affect retirement planning, please feel free to request for more information

Also, visit out services list to know how we help you with your retirement planning.

My personal advice to you is- “If you wish to work through your retirement, you must make sure it’s an optional job and you are not working with the purpose of supporting yourself and your family.” All the best!

My PhD in Humanity

Wednesday, April 14th, 2010

The other day I was on a call with a friend who got in touch with me after more than a decade. The feelings that surged through me as we caught up on lost time were unquantifiable. I felt truly reminiscent as we discussed the good old days where we bunked school to watch movies and how inadvertently mum would get a call from the local theatre owner – who happened to be our family friend and we’d be dealt with as though the sheriff had caught his band of thieves for the day! We talked of the races we’d have – fast cars and long drives, the current true loves of our lives beside us if not our equally frenzied friends. We caught up on families, on work, on life in general.

That is when Tom asked me a very unusual question. He asked me what I had done with my life. In addition, whether all my plans worked as we had planned them when we were young. I don’t know why he asked me that? May be a question he was pondering over himself and felt the need to reconnect over.

I told him of all I achieved, lost and won, the one thing that matter to me most – was my PhD in Humanity. He heard humanities, and exclaimed “Randhir! Humanities – I always took you for the finance type of man!” I corrected him. It was a PhD in Humanity, not Humanities. I could almost see bewilderment over the phone! I decided to explain to him, my take on life.

Tom, I said, it’s not what you become, or what plans we made and achieved that make us worth our while. It is what we do with our lives outside that plan, I explained. Thinking I was seriously joking, he retorted with a line somewhat asking me to be serious, as he was trying to get back to our lost time and I as usual was pulling his leg. I was not.

I in fact, wanted him to see how much I had digressed from our plans, and wanted him to see how much worth I felt I have achieved. Not, so much so as a social activist, or inspirational speaker, but as a human being. I related to him how I spent the last few years of my life setting up JFY fully and I explained to him that I have learnt so much with my time with people over the last twenty years that I felt I had attained a degree in Humanity! He then understood. I love people. I am enchanted with the thought of meeting people I haven’t before, and he knew that was one of my most prominent traits.

Why did I tell him about my degree? Well, it’s not a regular degree you see. It’s a degree I gave myself, after years of studying and interacting with people, I came to one conclusion, no one person is the same, just as no two finger prints can be the same, and each finger print has lines that tell a story, each human being is different – and they can each tell their story. Just like each insurance policy we sell, or each plan we custom design for your company, each human being is very different. Only when you can value each individual, can you value their worth. This is what I learnt from my story.