Guide to achieving Financial Freedom: Know the basics to get started early for a comfortable retirement

In reality, this desire of becoming financially independent can be achieved only with a proper plan in place. Financial freedom may mean different things to different people but essentially it is a state that is achieved when the person does not have to work anymore to fetch the daily needs required for existence. When your wealth takes care of all your financial needs for a lifetime, you can consider yourself to be in a state of financial freedom!
It is that stage of life when the household expenses for a lifetime, expenses on self and family members, and costs related to medical needs, outings, and entertainment, can be met without having to depend on a job or profession. As a salaried or a business person, when you do not have to depend on a regular source of active income, you can consider yourself to have achieved a state of financial freedom. What it means is that you would have accumulated enough wealth to meet your living expenses for a lifetime without having to be employed or dependent on others.
The idea is to create enough assets that could provide a stream of income to let the goals be met at different life stages. Letâs see what it takes to achieve financial freedom for oneself.
Start with an estimate of the retirement corpus that you wish to create. Take into account the number of years left to retire, life expectancy, post-retirement expenses, growth rate during the accumulation phase, the growth rate on corpus during retirement, and other key factors that will determine how much you need for financial freedom. Remember, all of these will be assumptions and the actuals may hugely vary in practice. Therefore, keep realistic and conservative assumptions before you venture out to carve your road to financial freedom.
ãã®èšäºã¯ Investors India ã® August 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ? ãµã€ã³ã€ã³
ãã®èšäºã¯ Investors India ã® August 2022 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,500 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Mind is the creator and healer of diseases
Scientists say that there are approximately one octillion atoms in the trillions of cells that make up the average human body.
What is the sequence of return risk
Imagine your cricket team is chasing a big target and loses 5 wickets early.
5 Steps to Execute Your Financial Plan!!
Once you have an ideal asset allocation plan in place, half the battle is over.
Momentum: The Invisible Force Driving Markets and Champions
Imagine this. A 1 kg coconut drops from a 15-meter-high tree.
ASK THE EXPERT
Ques- I was recommended by local Bajaj Capital Office to open an NPS Account, which I opened 2 years ago. I have noted that my account is titled Tier I Account whereas some of my colleagues have NPS Tier II Account. Please let me know what is the main difference between these two types of NPS Accounts and should I convert my Tier I Account into Tier II? Amita Jain, Ghaziabad
Amit Somani Deputy Head, TATA Mutual Fund
Amit Somani, Deputy Head - Fixed Income at Tata Mutual Fund talks about how investors seeking short-term, low volatility options could find the Tata Money Market Fund a smart pick in today's environment.

The Power of Starting Early: A concise guide to retirement planning
Retirement planning is crucial for people of all ages, even youngsters.
Why you should include gold ETFs in your portfolio
Indian investors have shown a growing appetite for gold exchange traded funds (ETFs) in recent years.

How to save taxes with health insurance while staying protected
Most financial planners believe that the first step in developing a financial strategy should be to guarantee adequate health insurance coverage.
Why quality funds should be on your investment radar
Several reputed Indian mutual fund managers have, in recent times, advocated a shift towards the quality style of investing. S Naren, executive director and chief investment officer, ICICI Prudential Asset Management Company (AMC), has been particularly vocal on this subject.