I have been recently reading this book called Power of Habit which gives great insights on human psyche. Habits have a profound say in our day-to-day lives : The decisions we take, How and why small wins matter ? The cue, the routine, the reward Can we change our habits ? Michael Phelps, Tony Dungy, Claude Hopkins all have something in common. They all created habits which made them successful.
Growing Annuity @ Retirement Mahesh is 45 years old and his current expenses are Rs 75,000/- per month . He plans to retire by 60 and would like to have an annuity which would pay him enough for his current expenses. He would like this annuity to increase by 5% every year considering inflation in mind. How much should he start investing now so that it takes of my retirement till 85?
Inflation is a measure of rise in the general price level of all goods and services in the country. Inflation is often viewed as the reduction in purchasing power of money. If you could buy a cup of coffee for Rs 10/- today and after 1 year, you are able to buy a cup of coffee for Rs 12/-, you have experienced inflation. In this case, inflation is 20%.