Saving for Retirement || Acharya Prashant

Full Video: Unlocking Success: Why Financial Literacy is a MUST-HAVE in College! ||Acharya Prashant, NIT-J(2023)

Transcript

00:00The fellow has access to an online tool and that is telling him how much must he save every month

00:07and how much must he deposit from his quarterly bonus so that at the age of 50 he has a corpus

00:16worth retiring. But he does not know what to do really till the age of 50 or after the age of 50.

00:23He does not know what retirement means because he never knew what work means.

00:27And if work really is work, will it ever allow you to retire? That fellow does not know that.

00:34But what he knows quite smartly is that if you put this much here, this is how mutual funds

00:40operate, this is how international markets operate and I can also do some intraday trading on the

00:45stock exchange and if I do all this quite smartly then I'll be able to save this much.

00:50What will you do by saving that much? Yes, of course, you will manage saving all that.

00:55What will you do with that? That is a question that has never been answered and that is the

00:59most fundamental question. Without answering that question, all other questions and answers

01:04are purely worthless.