Your foreign holiday would have cost Rs 2 lacs now.... Can you imagine what could it cost after 20 years for the same 2 lacs expenditure?
Hold your breadth, it's going to cost a mind boggling 32 Lacs for the same current cost of 2 lacs....
Are you prepared for this???
If not, prepare a financial plan right now....
Hi Gopal,
ReplyDeleteThere is bound to be cost increase with inflation which we have been seeing over years. The smart way also to improve is building capability of oneself while doing financial planning. May be after 20 years this gets funded by the sons or daughters or you change the plans for travel optimizing the available budget. The key message here is Plan sensibly while also making sure you spend today. Its all about economy and needs of an individual.
Some non negotiables are Insurance in all forms - Health, Risk, Vehicle etc which needs t obe planned carefully so that we dont erode our wealth.
So one building a capability beyond working days can also help meet needs of travel etc which may be required to do post 20 years. Business models will change, Cost will increase, Opportunities will be there..
Stay positive while planning effectively.