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A 67-year-old retired man felt that he had secured his future by keeping his entire savings of Rs 1.2 crore in an FD. But CA Nitin Kaushik said that this security is not real, because inflation gradually reduces the power of money.
New Delhi. A 67-year-old retired gentleman felt that he had removed all the worries of his old age. His entire savings of Rs 1.2 crore were in fixed deposits (FDs) and he was confident that this would enable him to live comfortably throughout his life. But when CA Nitin Kaushik heard their planning, he understood that this peace is not real, just an illusion of silent danger. The money was safe in the bank, but its strength was silently decreasing every day. Just like air comes out of a tire without any sound.
Kaushik told on social media platform X that the money which does not increase, its power decreases. Even if inflation remains at an average of 5 percent, the value of money gets halved in 20 years, that is, today’s Rs 1 crore will have the effect of only Rs 50 lakh after 20 years. Kaushik told that after retirement, many people keep the entire money in FD to ‘avoid risk’.
Retirement doesn’t mean your time horizon ends.
I once met a retired gentleman — 67, peaceful, and proud of what he’d built.
He had around ₹1.2 crore saved, every rupee locked in fixed deposits.
