Book Blurb
Recently, when I was going for a walk along with two paediatricians, I asked them a million dollar question that was lingering in my mind for a very long time. That question was, “What is the ideal age for retirement for consultants like us?” After a long pause, one of them answered, “It is not possible for us to retire as we don’t know anything else other than our profession.” Yes, in one way it is true but there is one more thing to be considered. Even after entering my sixties, I am not sure whether I have attained financial independence so that I can retire happily.This book is a small endeavour to make common man understand the basics of finance to invest intelligently in an innovative way and to take steps to achieve financial independence at an earlier age to lead a happy retired life.
"Personal Finance" A very critical part of each one of life. A must-know thing in life for betterment and comfort life. Many people find it very tough while deciding about their finances. Because one has to acquire knowledge in many aspects like taxation, traditional investments, equities, insurances, etc. Personal finance is a subject which requires planning of finance for every situation of life's finance requirement like an emergency fund, insurance, investments instruments, retirement planning, etc,
"Wise Investment" is one of the books which one may read to acquire enough knowledge for starting their finances. The writer has written a book in so simple language that anyone can understand the concepts of finance so easily. This book is for every person who has started their financial planning.
After reading this book one will find all the answers for personal finance related questions like where to invest? What are the investment options? Why finance planning required? When should start finance planing? And many more questions come to our mind.
In the book, one will find a very good example of the importance of investment in early age. It impacts a lot if you delay in your financial planning. One who starts early investing at an early age has quite advantageous over who delays it. It has shown what factors are important for financial planning.
This book has covered the detail of shares like what is it? How one can invest? What are government regulatory bodies to monitor and control it? What is their tax calculation what is short term capital gain? What is long term capital gain? The expected return and risk in this investment type has very well explained.
It has explained mutual fund in very much depth. The type of mutual funds with the type of return they give and risk involved in it. How taxation applies in a different type of mutual fund investments. Also shared which type of mutual fund is good for different age of people. other instruments for investment like PF, PPF, FD, Post office NSC, Gold, their ROI and their tax applicable on it. In personal finance, insurance has a major role. Health insurance life insurance, term insurance and other different types of insurance policies their tax benefits and why it is must plan for it as well. The writer suggests one should plan for their retirement planning as well to live the same lifestyle without earning one has to plan it very carefully.
In overall I find this book very much helpful for planning my finances for betterment of my lifestyle, planing for my children education marriage, My retirement planning, planning for the security of my family by buying health insurance term insurance.
Although I would also share there is a printing mistake from chapter 14 where one has to read from the last page in a backward fashion. But it is ignorable in front of the knowledge which helps us in our future.
Review from other readers can be found at GoodReads
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