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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Couple Who Retired at 38 !

Couple Who Retired at 38 !

Go down  Message [Page 1 of 1]

1Couple Who Retired at 38 ! Empty Couple Who Retired at 38 ! Mon Dec 09, 2013 6:25 pm

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Interesting Video.
https://www.youtube.com/watch?v=6l5HXLWBFqo

2Couple Who Retired at 38 ! Empty Re: Couple Who Retired at 38 ! Mon Dec 09, 2013 9:02 pm

Gaudente


Manager - Equity Analytics
Manager - Equity Analytics
so what ? I retired at 35 and even better...single  Very Happy 

3Couple Who Retired at 38 ! Empty Re: Couple Who Retired at 38 ! Mon Dec 09, 2013 9:41 pm

kukumarx


Manager - Equity Analytics
Manager - Equity Analytics
Very interesting video! Thanks for sharing!

The concepts are sound and as we can see do-able with savings in US $.

But I wonder whether this is possible with savings in Sri Lankan Rupees.

The trick is I suppose to have enough money so that the interest you earn not only covers your expenses but also covers the inflation component that would erode your savings. That is interest income should be greater than your expenses plus inflation effect on savings.

The inflation rate I experience is much more than the official inflation rate and definitely more than the interest rate. So If I tried this I technically will become poorer year by year and have to cut my lifestyle. As indeed is the experience of most pensioners.

Still, interesting concept!

4Couple Who Retired at 38 ! Empty Re: Couple Who Retired at 38 ! Mon Dec 09, 2013 10:22 pm

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@kukumarx wrote:Very interesting video! Thanks for sharing!
The concepts are sound and as we can see do-able with savings in US $.
But I wonder whether this is possible with savings in Sri Lankan Rupees.
The trick is I suppose to have enough money so that the interest you earn not only covers your expenses but also covers the inflation component that would erode your savings. That is interest income should be greater than your expenses plus inflation effect on savings.
The inflation rate I experience is much more than the official inflation rate and definitely more than the interest rate. So If I tried this I technically will become poorer year by year and have to cut my lifestyle. As indeed is the experience of most pensioners.
Still, interesting concept!
Yes, it is very unlikely that can be practiced in Sri Lanka.
But again if you really crunch the numbers well, I am sure something workable can be achieved.
My goal is to achieve that 20 years behind their set mark.  Very Happy 

5Couple Who Retired at 38 ! Empty Re: Couple Who Retired at 38 ! Tue Dec 10, 2013 12:57 pm

kukumarx


Manager - Equity Analytics
Manager - Equity Analytics
[quote=
But again if you really crunch the numbers well, I am sure something workable can be achieved.
My goal is to achieve that 20 years behind their set mark.  Very Happy [/quote]

I suppose you would need a lot of money and diversified asset classes. Cash savings in Banks, Stock market investments through unit trusts, property for rental income, and maybe gold as a hedge.

58 is just three years away, so best of luck Kithsiri.

As for me I just don't have the guts!

6Couple Who Retired at 38 ! Empty Re: Couple Who Retired at 38 ! Tue Dec 10, 2013 1:16 pm

Kithsiri

Kithsiri
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@ Kukumarx
Thanks.  Very Happy 
( I read somewhere the success depends on Grit than anything else ).

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