As reported earlier, SEBI has included nine freefincal calculators created by M. Pattabiraman in its investor education website. Ms Monika Halan, the SEBI Investor Protection Education Fund Advisory Committee chairperson, suggested including these tools, and the committee inaugurated them on 22nd Nov 2022.
Tutorials for each tool will be made available in the coming weeks. The first tutorial for the cost of delay (in retirement planning) is now available.
These are screenshots of the tutorial and the tool.
The calculator helps to bring out this scary fact: postponing retirement planning is a sure-shot way to lose financial independence in your retirement. The amount needed to save each month would become so huge if postponed by just a few years that it would be impossible to match your expenses in retirement.
Inflation is a very important parameter in financial planning. However, postponement or inaction is the biggest enemy.
The complete set of tools are
- Net worth calculator
- Life insurance calculators (for earners with and without children)
- Financial goal planner with variable asset allocation
- Monthly investment tracker
- Time value of money calculator
- The true power of compounding
- Impact of 1% (difference in return) calculator
- Cost of delay (in investing) calculator
- Visual goal planning and asset allocation
Link to the calculators at SEBI: https://investor.sebi.gov.in/calculators/index.html. They can be found among some existing tools. This is a screenshot.
The nine calculators are part of the book, You can be rich too with goal-based investing by P V Subramanyam and M Pattabiraman. The tools can also be accessed here: https://freefincal.com/goalbasedinvesting/
If you want Excel versions of these tools plus many other benefits, consider joining the freefincal investor circle. This is a screenshot of the Excel version.
Do give the tools a try. The SEBI team is extremely enterprising and responsive, so they would be happy to make changes if it would benefit many.
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Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over nine years of experience publishing news analysis, research and financial product development. Connect with him via Twitter or Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.
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Most investor problems can be traced to a lack of informed decision-making. We have all made bad decisions and money mistakes when we started earning and spent years undoing these mistakes. Why should our children go through the same pain? What is this book about? As parents, what would it be if we had to groom one ability in our children that is key not only to money management and investing but to any aspect of life? My answer: Sound Decision Making. So in this book, we meet Chinchu, who is about to turn 10. What he wants for his birthday and how his parents plan for it and teach him several key ideas of decision making and money management is the narrative. What readers say!
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