We all live in an era where we are forced to
spend on material things. All E-commerce sites sell so many products at a
lesser price. We are tempted to buy them. Never have we been presented with so
many options that too at our door-step.
If we keep spending on unnecessary material
things, then we lose our appetite to save for our future.
20 years back, a tender coconut that costed
Rs.5 , now costs Rs.50. 10 X increase.
Can you believe with the inflation cost of
approximately 7%, in another 20 years it might go upto Rs.500?
If you cannot believe what your current
monthly expenses will cost you in another 20 years then go back 20 years and
see what was the cost of the same items. It is a rude awakener for most of the
people and most of them cant believe it too.
So its prudent to start your retirement plans
asap even if you are at 22 years old. The sooner you start the more compounding
affect and more retirement corpus for you.
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