Plans

You have always wanted to Live Rich and drive that BMW around. We tell you how: look for alternative investments and don't just squat on idle cash.

SO YOU are working on becoming a crorepati, and have gone quite far in that direction and think your life is made and all your worries for the future, specially life after retirement, are gone, with the nest egg your are creating.

You gloat because you are better off than your father was at your age: he hoped to become a mere lakhpati, rode a secondhand Fiat, braved his summers under an Usha fan, ate out with the family at the idli-dosa joint down town, had an occasional holiday in a hill station near by, sent his kids to schools that were not punishing in the fees they charged, and thought he had reached the pinnacle of achievement when he built a small house with money borrowed against his life insurance policy.

You, on the other hand, ride a Honda City, party at a lounge bar out of town, give your kids an education that costs the moon and the earth, have already moved into your own flat bought on an EMI plan, go on holidays to exotic foreign lands, buy stuff on the net, and think nothing of flashing your credit card to buy a Rs 60,000 twodoor fridge. You think, with Rs 1 crore in saving, you will have enough for retirement. Rs 1 crore -that's more than any of your forebear could even dream of.

Most wealth managers will tempt you with their schemes, tell how to save up that crore by the time you retire and what all a crore can buy.

Your working father, if he is middle class, and retiring any time soon, will be happy to have about Rs 40 lakh in savings.
Source :- My Digitalfc