Answer to Question #142898 in Marketing for Ka

Question #142898

Sanjay Bhatia, (age 30 years) works with a pharmaceutical company and has not yet started to invest for his retirement. Sanjay is married to Preeti (age 28 years) and they have one son aged 2 years. Sanjay wants you to prepare a plan for him to retire latest by age 55. (You can make any assumptions to further build up your case.)

Expert's answer

With 25 years to retirement, Sanjay needs a plan to safeguard the future of his family. The first part of the plan is to determine how much time he has to develop and preserve income while saving for his son's education. The second phase is to determine retirement spending needs for his family. The third phase is to calculate the after-tax rate of retirement investments and the final phase is consulting expert planners such as lawyers, financial managers and insurance providers in executing an effective retirement strategy that covers his whole family.

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