I stayed in a big house when I was a kid. My grandfather had bought the house for INR 30,000 in 1960. We sold the house in 2003 for INR 10000000. The money was distributed between my father and his siblings which helped them buy their own houses. So, that is the legacy my grandfather had left behind for his kids.
But, if he had planned better and invested smartly he would have been able to leave enough wealth which can take care of even his kids retirement.
The point I want to make here is that today, when inflation is very high and lifestyle expenditure as almost equal to what we earn, we have to invest very smartly to lead a good retired life. If we plan slightly better we may be able to accumulate a huuuggeee amount for our kids which can be left behind as legacy.
I don't want my daughter to turn 30 years old and then realize the value of saving for retirement. If I do, I am knowingly losing the compounding for 30 years.
So, If you start investing a very small amount for your kids retirement I am sure you will be able to leave a legacy behind in terms of money and also the legacy of the idea to invest for kids retirement.
But, if he had planned better and invested smartly he would have been able to leave enough wealth which can take care of even his kids retirement.
The point I want to make here is that today, when inflation is very high and lifestyle expenditure as almost equal to what we earn, we have to invest very smartly to lead a good retired life. If we plan slightly better we may be able to accumulate a huuuggeee amount for our kids which can be left behind as legacy.
I don't want my daughter to turn 30 years old and then realize the value of saving for retirement. If I do, I am knowingly losing the compounding for 30 years.
So, If you start investing a very small amount for your kids retirement I am sure you will be able to leave a legacy behind in terms of money and also the legacy of the idea to invest for kids retirement.
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