Sunder kaun hai? Sunder is a married man aged 45 working in a MNC. Sunder has two children who haven’t yet entered their graduation. Sunder’s spouse is an able housewife who takes care of all the household chores.  Children are intelligent and good in studies. Sunder earns a handsome monthly salary of around 3.5 lakhs per month and has a bank balance of 50 lakhs. Sunder has a car and stays in his own flat. Sunder and family are also insured. Wow, All good right. But Sunder is worried. Why ?? Sunder is worried because he hasn’t planned anything for his retirement. Sunder doesn’t know if the accumulated corpus of 50 lakhs is enough for the education and marriage of his children. Also, taxes and expenses eat away a major portion of his salary and in the end Sunder is left with only 1 lakhs for savings each month.    So what does Sunder do? Sunder himself being an intelligent person decides to get rid of his worries. Sunder and his family decide to approach a p...

1) Salary - Savings = Expenses Frugality when spending and Extravagance when saving helps in creating wealth and achieving life goals. 2) Savings should not be left in savings account. Money credited in the savings account need not lie there because money in savings account loses value over time due to inflation. Work for money but also make your money work for you. Together, you and your money can create more money. 3) Don’t procrastinate or delay when it comes to investing. Money lying in savings account, tax planning at year end are some examples of procrastination. ‘I will do it’ is overrated, ‘I have done it’ is underrated. 4) Compounding over time is the 8th wonder of the world. Rupees 10 lakh compounded at 2% annually for 20 years becomes 14.86 lakh whereas the same 10 lakh rupees compounded at 8% annually at the end of 20 years becomes 46.61 lakh. 5) Follow asset allocation. Asset allocation means allocating your wealth to different asset classes like Equity, Debt, Real estate,...