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Savings

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Very right approach....There is no limit to savings...You can save till the age of 60 & then start spending..Leave 20% for emergencies too!! Holding money in debit instruments are better!!


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Source:Twitter
 
Savings alone without investing some is a recipe for old age poverty.

In an economy which is inflationary,with rupee depreciating at 3.4% average every year, what would be the savings worth after sixty?

Old age homes are full of seniors who saved all their lives and ended up in poverty at the end of life.
 
.......... Old age homes are full of seniors who saved all their lives and ended up in poverty at the end of life.
:lol: You always imagine ONLY oldies clad in rags and tatters live in senior homes! Hmmm..

It is difficult to change the POV of some people!! :D

BTW, Krish Sir, 'savings' does not mean 'Keep the money in a pot and bury it in the backyard!' :)
 
Savings alone without investing some is a recipe for old age poverty.

In an economy which is inflationary,with rupee depreciating at 3.4% average every year, what would be the savings worth after sixty?

Old age homes are full of seniors who saved all their lives and ended up in poverty at the end of life.

hi

i agreed sir...its truth....i recently visited an old age home recently....i regulary visit old age home very close to my

home in chennai....the reality is many had saved Rs 1000/ and Rs 500 rupees notes....they hard very hard time...

even many are govt retired pensioners.....some are family pensioners tooo...the sad news is that majority are

brahmin community......so called intellligent/educated community...
 
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:lol: You always imagine ONLY oldies clad in rags and tatters live in senior homes! Hmmm..

It is difficult to change the POV of some people!! :D
There is a small minority of seniors who are there due to affluent sons abroad maintaining them there.

Some really well off in india also take refuge there.

I strongly feel segregation of seniors from society reflects poorly on families which try to dump seniors there to fend for themselves.
 
Returning to the subject of savings -one needs to make a financial profile with equities[ mutual funds ?], savings such as bank deposits, Tax saving instruments.

Also like good housewives, pushing about 30% or so into gold [which is less speculative] which keeps value and indulging in real estate buys[even small pieces land

slightly away from metros say 30-40 km is a worthwhile gamble} can yield good results in 20 to 25 years.
 
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Many think that borrowing is not good.

If companies thought so , then there would be no business.

Promoters of company put in equity.They use it to borrow money for business.

Individuals can also do the same .

They can first buy parcels of land preferably rural.

The biggest mistake brahmins did was disposing of their homes in agraharams and small land holdings and drifting to citiesfor employment.

Land gives permanence to communities.

Rural land can always be used to get huge Kisan loans of low interest from Govt banks. It requires cooperation of course of banks.This money can be at least earn

better interest. Periodically these loans are also waived off. It is virtually free capital. Add to it free electricity ,water with it.Best senior citizens can establish farmer

identity first.

Any community with land is respected automatically. Being a brahmin adds to respectability in rural community.

Most labour there would be very happy to look after brahmin senior citizens and till their land and milk their cattle.

Brahmins are brainy to become leaders of the village community and be part of panchayat institutions.

They will get called for leading the worship in all local temples.

Free air in villages with tension free life will increase lifespan of senior citizen.
 
Brahmins are brainy to become leaders of the village community and be part of panchayat institutions.

They will get called for leading the worship in all local temples.

Free air in villages with tension free life will increase lifespan of senior citizen.


May be grumblling of a CITY BIRD.

The proverb is: The grass is always greener on the otherside....
 
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There is reverse movement of indians.

Many abroad are thinking of returning to india due to unfavourable conditions there .

With india opening up, the job conditions are good for these NRIs.

Buying of land ,specially rural land will give them an identity they have lost by going abroad.

Many would be tempted to go to their roots to resettle themselves.

Someone I know was seriously contemplating buying rural land near national highway and setting up warehouses for some online storage for retail to serve nearby

metros.Getting contiguous land near highways is difficult these days in tamilnadu.

One old school mate of mine, a tamil brahmin in US has bought acres of land near pune. He intends setting up some industry there availing various concessions.

All this is not just idle thinking.
 
Returning to the subject of the thread, borrowing per se is not evil.

Long term loans of 8 to 10 years from banks based on minimum collateral can ,make us far richer than those just sitting on their savings.

Depreciating value of money can make one much richer.

This is against conventional wisdom doled out by parents to their children.lol.

What needs to be advised is borrow and service the loan without default.

Similarly in an inflation ridden economy, spending is better than saving .

Spend your way out of miseries and convert some into appreciating assets to compensate.

Taking a few risks with some percentage of money is wise and playing extra safe is extremely foolish.

We can teach children risk analysis and what is reasonable risk to take . Also how to evaluate risk reward ratio in any enterprise one needs to learn fast , more so in old age.

We should increase risk as we age as we have less life to live and most have fulfilled their lifes responsibilities and nothing t much to lose except their lives.lol;
 
We should increase risk as we age as we have less life to live and most have fulfilled their lifes responsibilities and nothing t much to lose except their lives.lol;

Increase risk...?? that too at old age...??

Okay. There may be few to consider such a valuable suggestion...... increase risk... go for a gambling.....in the event of any eventuality.... don't blame anyone.

Just curse your own fate,,,relax and sing...Krishna Muguntha Murari...Jaya Krishna Muguntha Murarieeeeee...... lol

There are lot of seniors who, at the fag end of their life, in anticipation of flourishing gains invested their terminal benefits found ended up with disappointment.

It is their late realization after bitter experience with worst bears.

They now know pretty well that there is absolutely no guarantee for better returns but idle promises and a rosy picture.

These seniors, once bitten twice shy, feel they cannot afford to lose their hard earned savings especially based on dubious Financial Adviser's preaching.
 
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..... Free air in villages with tension free life will increase lifespan of senior citizen.
You must meet Ram's younger brother's wife!

She will narrate all the hardships she is facing in the village life; my b-i-l chose to live like his father, in the ancestral house!!
 
You must meet Ram's younger brother's wife!

She will narrate all the hardships she is facing in the village life; my b-i-l chose to live like his father, in the ancestral house!!
I have a close relative in rural tamilnadu.

He is an agriculturist.

I spend a few days every year with his family.

He had a house in agraharam there.

He sold it off and built a huge mansion right in middle of the farm land.

He got roads laid to the mansion ,got electricity , sanitory lines laid . He has all the modern gadgets like TV ,frig,gas, well in backyard .He has both mobike and car.

He has laid drip irrigation pipes self designed and well with pump. He has both cattle and workmen to help in agriculture .

He is far well off than most of us who wasted our lives as government officials who paid taxes [cut at source].

All his income is not taxable.
 
Increase risk...?? that too at old age...??

Okay. There may be few to consider such a valuable suggestion...... increase risk... go for a gambling.....in the event of any eventuality.... don't blame anyone.

Just curse your own fate,,,relax and sing...Krishna Muguntha Murari...Jaya Krishna Muguntha Murarieeeeee...... lol

There are lot of seniors who, at the fag end of their life, in anticipation of flourishing gains invested their terminal benefits found ended up with disappointment.

It is their late realization after bitter experience with worst bears.

They now know pretty well that there is absolutely no guarantee for better returns but idle promises and a rosy picture.

These seniors, once bitten twice shy, feel they cannot afford to lose their hard earned savings especially based on dubious Financial Adviser's preaching.
It is this fear of losing it all and becoming penniless that makes people hold on more to their money.

Also many write themselves off at sixty itself and start moaning and groaning about ailments [non existent in many cases] and withdraw into shells.

Life has so much to offer.

In new india there are careers to be made even when we are in seventies and live well.

We can see what youngsters are upto and many are in start up mode.

We can see if we can change and try doing what they are doing just for fun.

We might enjoy it
 
It is this fear of losing it all and becoming penniless that makes people hold on more to their money.

Also many write themselves off at sixty itself and start moaning and groaning about ailments [non existent in many cases] and withdraw into shells.

Life has so much to offer.

In new india there are careers to be made even when we are in seventies and live well.

We can see what youngsters are upto and many are in start up mode.

We can see if we can change and try doing what they are doing just for fun.

We might enjoy it

It is not fear.... some don't seems to understand... they do wander in their own dream world....

It is expereince... repeat personal experence...

There is no gurantee of good returns...

One needs to watch the performnce of the company...

Let us take care of our own performance...

Life has so much to offer.

Yes, life has so many good things to offer than gambling and to live on speculations on matters which are volatile

It is peace of mind that is more important ...It is bliss that is sought for.
 
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It is this fear of losing it all and becoming penniless that makes people hold on more to their money.

Also many write themselves off at sixty itself and start moaning and groaning about ailments [non existent in many cases] and withdraw into shells.

Life has so much to offer.

In new india there are careers to be made even when we are in seventies and live well.

We can see what youngsters are upto and many are in start up mode.

We can see if we can change and try doing what they are doing just for fun.

We might enjoy it

The risk appetite normally decreases with age ...For a retired person, in case one is fully covered for all expenses, then the balance can be invested with a 50% allocation for risky investments..In case of a loss the person is not unduly affected as basic expenses are already covered
 
பாடுபட்டுத் தேடிப் பணத்தைப் புதைத்துவைத்துக்
கேடுகெட்ட மானிடரே கேளுங்கள் - கூடுவிட்டுங்(கு)
ஆவிதான் போயினபின் யாரே அனுபவிப்பார்
பாவிகாள் அந்தப் பணம்
 
[FONT=&quot]கல்லானே ஆனாலும் கைப்பொருள்ஒன் றுண்டாயின் [/FONT]
[FONT=&quot]எல்லாரும் சென்றங் கெதிர்கொள்வர் - இல்லானை [/FONT]
[FONT=&quot]இல்லாளும் வேண்டாள்(;) மற் றீன்றெடுத்த தாய்வேண்டாள் [/FONT]
[FONT=&quot]செல்லா(து) அவன்வாயிற் சொல் .[/FONT]
 
The risk appetite normally decreases with age ...For a retired person, in case one is fully covered for all expenses, then the balance can be invested with a 50% allocation for risky investments..In case of a loss the person is not unduly affected as basic expenses are already covered
I believe in 30% investment in equities to balance poor returns from very safe investments.

It has worked well for me.
 
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