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Financial Independence Retire Early

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  What is FIRE all about? FIRE (Financial Independence Retire Early) is a movement that began in the United States so that they could retire early and become financially independent so that they didn’t have to rely on any job in order to live their lives. In 1992, the book “Your Money or Your Life” published by Joseph R Dominguez helped encourage people to choose Life over spending most of it slogging at workplaces. With the advent of the Internet in the 2000s, FIRE gained popularity into mainstream media and many Americans have adopted this lifestyle change in order to retire early. The goal is to save and invest aggressively somewhere between 50–75% of your income so that you can retire sometime in your 30s or 40s( Get Early Retirement ).You heard it right, one needs to save at least half of their income in order to pursue a FIRE lifestyle. In order to pursue a FIRE lifestyle one must seek to do two things: keep their expenses extremely low and find ways to raise their i...
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Employee Provident Fund - PensionBox

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  Employee Provident Fund Employee Provident Fund is a scheme established by the government of India and set up by the EPFO (Employee Provident Fund Organisation) under the guidance of the Ministry of Labour and Employment. The goal of setting up this scheme was to promote a sense of savings among the employees and help them build an optimised retirement corpus. Any establishment with more than 20 employees needs to register itself under the EPFO Act 1952. Only salaried employees registered under the EPF act can invest in EPF. This scheme enables both the employer and the employees to contribute 12% of the employee’s basic salary and dearness allowance towards EPF. # Is Investing under EPF safe? EPF is one of the safest modes of Investments available due to its statutory backing. The funds collected in the EPF scheme are managed by the EPFO. They invest 15% of the money collected in equity which can be looked at as diversification. For the current financial planning ye...
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Indian Retirement:5 Reasons to take your retirement planning seriously

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  Before you start reading about the reasons we want you to understand that retirement is a universal phenomenon. Everyone around the world including you National Pension Scheme, nps is not a choice but a necessity.   At we simplify the process of Retirement planning with PensionBox & make sure you make better decisions to live a better life. For centuries,Indians have lived a Get Early Retirement comfortable and simple life as elderly but today’s fast paced world and changing dynamics of the society have posted challenges that were never faced before.And hence, it needs to be addressed with Best Pension Plans open dialogue and collective effort.   Reason1: India’s elderly (age>60) are living alone.  Reason2: Indian women need retirement income.  Reason3: we are aging,yes all of us.  Reason4: The Government support is not enough.  Reason5: It’s the right thing to do,period.   If you have question after reading the blog, we are here fo...
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Indian Retirement:5 Reasons to take your retirement planning seriously

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  Before you start reading about the reasons we want you to understand that retirement is a universal phenomenon. Everyone around the world including you will age and hence retirement planning is not a choice but a necessity. At we simplify the process of retirement planning with PensionBox & make sure you make better decisions to live a better life. For centuries,Indians have lived a Get Early Retirement comfortable and simple life as elderly but today’s fast paced world and changing dynamics of the society have posted challenges that were never faced before.And hence, it needs to be addressed with Best Pension Plans open dialogue and collective effort   Reason1: India’s elderly (age>60) are living alone.  Reason2: Indian women need retirement income.  Reason3: we are aging,yes all of us.  Reason4: The Goverment’s support is not enough.  Reason5: It’s the right thing to do,period.   If you have question after reading the blog, we are here f...
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Pension Basics: How much pension do I need?

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  Pension is your income when you decide to leave the workforce. Simply put it’s the money you get every month without work. Now the important part is how much pension is enough? To answer that we have two generic methods to calculate your private pension needs. We have seen that some can live on ₹20,000 per month & others need ₹1,00,000 to maintain their lifestyle.       In short, Pension needed depends on you, your way of life, your current age, your retirement age, inflation (mehgayi), expected rate of return in Get early retirement & 10 more factors. Before we start, let’s assume you are Ramesh or Rashmi or Prof. X: You are 30 years old & works as Manager at an MNC Your current Income = ₹10,00,000 annually & expenses = ₹50,000 monthly You get an average 10% hike on the yearly package and the rate of inflation in India is 6% Your desired retirement age is 55 Looks like now we know you & we are ready to see how different methods calculate you...
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Pension Basics: How much pension do I need?

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    Pension is your income when you decide to leave the workforce. Simply put it’s the money you get every month without work. Now the important part is how much pension is enough? To answer that we have two generic methods to calculate your private pension needs. We have seen that some can live on ₹20,000 per month & others need ₹1,00,000 to maintain their lifestyle. In short, Pension needed depends on you, your way of life, your current age, your retirement age, inflation (mehgayi), expected rate of return in Get early retirement & 10 more factors. Before we start, let’s assume you are Ramesh or Rashmi or Prof. X: You are 30 years old & works as Manager at an MNC Your current Income = ₹10,00,000 annually & expenses = ₹50,000 monthly You get an average 10% hike on the yearly package and the rate of inflation in India is 6% Your desired retirement age is 55 Looks like now we know you & we are ready to see how different methods calculate your retireme...
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Pension Basics: How much pension do I need?

Image
  Pension is your income when you decide to leave the workforce. Simply put it’s the money you get every month without work. Now the important part is how much pension is enough? To answer that we have two generic methods to calculate your private pension needs. We have seen that some can live on ₹20,000 per month & others need ₹1,00,000 to maintain their lifestyle. In short, Pension needed depends on you, your way of life, your current age, your retirement age, inflation (mehgayi), expected rate of return in Get early retirement & 10 more factors. Before we start, let’s assume you are Ramesh or Rashmi or Prof. X: You are 30 years old & works as Manager at an MNC Your current Income = ₹10,00,000 annually & expenses = ₹50,000 monthly You get an average 10% hike on the yearly package and the rate of inflation in India is 6% Your desired retirement age is 55 Looks like now we know you & we are ready to see how different methods calculate your retirement/ pension ...
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