This refers to the calculation of the monthly saving required to reach a target retirement corpus using the expense replacement model (Retire Rich). I carried out the calculation and found that the target corpus of Rs 5,57,65,770 is fine, but the monthly investment needed is incorrect. I think it should be Rs 1,61,155 instead of Rs 1,11,625 a month. Please clarify.
— Gautam Kamath, e-mail
We have rechecked the assumptions used to calculate the investment and have found Rs 1,11,625 to be the correct value. Please note that the assumed rate of return is 8%. If you inform us as to how you arrived at the value, we could let you know where you went wrong.
I am a regular reader of Money Today, which is a valuable source of information on all money problems. Recently, you reviewed the book The Stock Investor’s Pocket Calculator (Demystifying the Math of Investing). Please tell me how to procure the book as it is not available in local stores.
— Sukhjit S. Makkar, Gurgaon
Book stores can acquire it for you if you give them the name of the publisher (in this case, Amacom). The book can also be traced by its ISBN, which is 10 0-8144-7460-8. Websites like Amazon.com should be able to deliver the book to you.
Though you have given good suggestions to trace counterfeit currency in your article (Countering the Fakes), it is inadequate. The problem arises in dealing with bundles of currency notes. It is very difficult to check each note and identify the fake ones.
— Bal Govind, e-mail
We have outlined several security features that can help you identify fake currency. Experts say that of all the features, intaglio printing of the RBI seal, Mahatma Gandhi’s picture, the Ashoka emblem, etc., are the most crucial. For checking bundles of currency notes, it may be easier to scan them under an ultra-violet lamp.
I think it is unnecessary to publish details of mutual funds in the ‘Mutual Fund Monitor’ section as they have all been giving negative returns for the past few weeks. Such information may also create panic among readers.
— Sandeep Kumar, Amritsar
Since our previous issue, we have started giving different types of data which can be useful to readers. However, we don’t think consistent negative returns of mutual funds will cause panic among readers. Mutual fund investors must be aware of the performance of their portfolios as well as the funds’ long-term outlook.
Your story on classy but inexpensive marriage arrangements (Wedding Wows) was very timely. I especially liked the price range that you provided for each option. This allows readers to choose according to their tastes and budgets.
— Megha Sharma, Pune
We are glad that you liked the story. It was our endeavour to find a balance between aesthetics and wedding budgets.