6 COMMON MISTAKES DURING RETIREMENT

MISTAKE 1

Depending Only On Pensions

1.Life Expectancy Has Increased – You Will Live For Long

2.Fixed pension loses its purchase value over the years

MISTAKE 2.

Depending On Children For Cash Flow During Retirement

1. Prioritize Retirement Planning Over Child Education Planning
2. Life Of Our Children Is Different From Ours
3. Our Children Will Have Genuine Difficulties
4. Don’t Make Your Children Sandwiched Between You And Their Children

MISTAKE 3

Exposing Your Retirement Corpus To Risk Of Loss

1. Parking In Small Financial Institutions For Higher Returns.
2. Invest Your Retirement Corpus in Safe Places

MISTAKE 4

Not Having Health Insurance

1. Buy Your Health Insurance Latest By 45 Years.
2. Everyone Has To Visit Hospital At One Stage Or The Other
3. Treat Premiums You Pay As EMI On Hospital Bills You Pay In Future

MISTAKE 5

Buying Properties Using Retirement Corpus

1. Residential Rental Yield Is Too Low
2. Rent Is Taxable
3. Maintenance Costs for Property
4. You May Find It Difficult To Sell The Property
5. You May Not Get A Tenant

MISTAKE 6

Staying In Isolated Places

1. Safety Of People In Old Age
2. You Need Help Of Younger Generation During Old Age
3. Stay Closer To Community Where Someone Can Help You.

NRI Money Clinic is a YouTube channel created by Dr. Chandrakantha Bhat , an investment consultant and financial planner in Dubai . It aims to spread financial literacy and educate on money matters for resident and non resident Indians . The channel discusses subjects like Fixed Deposits , Taxation , Mutual Funds , Insurance , Specific Issues pertaining to NRI community and every other investment opportunity. Dr. Chandrakantha Bhat can be reached on Whatsapp on +971 50 148 4595

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Links to my previous videos:till now

https://youtu.be/UfNQkH3cmWE CORONA VIRUS – IMPACT ON GLOBAL MARKETS – PART 1

https://youtu.be/MC5nAbWLkMo CORONA CRASH 2020 – DOS AND DON’T FOR YOUR SURVIVAL

https://youtu.be/KejZ8nKpLPA HOW TO MAKE MONEY FROM MARKET CRASH

Budget 2020: Impact on NRI’s (Part 2) Who and When Will They Get Affected?: https://youtu.be/Hq5iPSEWcAI

Budget 2020: Will NRI’s Overseas Income Be Taxed Now? (Part 1) NRI Money Clinic: https://youtu.be/uXM9AKo9HrM

Role of a Financial Planner: https://www.youtube.com/watch?v=KZPnnn3NqyM

What is the meaning of money? : https://youtu.be/AAxQ4ywScos

6 steps to generate good returns on your investments – https://youtu.be/AAxQ4ywScos

Why you should watch this channel – https://youtu.be/rgsHfw41W_8

Don’t Buy a Life Insurance Policy Until You Watch This! https://youtu.be/q0adm_CKvew

Why are your mutual funds not showing the returns?https://youtu.be/28TfBq_OGx8

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