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SIP in any diversified equity fund till retirement can create a good retirement corpus for the investor. One can always notice that SIPs in diversified equity funds which were launched prior to the 1999-2000 era when the Sensex made a peak of 6150, have given more than 15% CAGR, even if they were to be redeemed in Feb 2009, when the sensex made a new low of @8500 after making a new high of @ 21000. Then the investor can park the retirement corpus in some good Balance Fund and start SWP from Balanced Fund.
i like the approach of mr. dhiraj about financial freedom but how he would give solution to mr. jain i.e. plan for a phase in life that comes before actual retirement and what when mr. jain reach age 58-60. I am really curious to understand the solution that mr. dhiraj would have given.
How many of us IFAs have achieved Financial Freedom in the first place? If not, then would it not be better, if we were to first practice it ourselves before we start preaching Financial Freedom to our clients???
Moral of the Story - Dont force your ideas on your client but listen to what he wants.
Nicely explained, the thing is that we should start practising in the way it has been explained.