In our journey as financial planners, one of the biggest constants that we see in most customer portfolios is this – they are either already real estate heavy, or customer high-priority goals include buying additional homes – as an investment.
This must come as no surprise, since an overwhelming 84% of all household investment assets in India (RBI Household Finance Committee Report, 2017) are in this favorite asset class – no prizes for guessing – Real Estate.
That being the case, it may be prudent to consider these five investment risks associated with this asset class, since each one of these risks have the potential of causing significant damage to your financial independence journey.
In the last few years, there is an increasing focus on financial independence as a personal financial topic of interest. Financial Independence (or Financial Freedom) is the financial state where one has acquired enough passive income (through investments), thereby not requiring one to have to work to earn one’s living for the remaining lifetime.
World-wide, the concept of FIRE (Financially Independent, Retire Early) has gained a lot of traction, but Financial Independence is a relatively new and less understood concept in India.
The things to do to become financially independent are fairly simple and not rocket science. But many a times, not doing the wrong things is more important, rather than just doing the right things. What I want to share today below are three mistakes that can have serious consequences on one’s quest to achieve financial independence. While they may be repairable, the damage caused to the journey can be severe. Our latest article published on Moneycontrol.