MAA stands for Multi-Asset Allocation, reflecting need for a well-diversified investment approach

In fitness or physical wellness parlance, the 30-30 challenge is a fitness or wellness programme that involves completing a task or activity for 30 minutes a day for 30 days.

- RITWIK MUKHERJEE

There are multiple versions of the 30-30 challenge, including a diet, a nature challenge, and a Bible study. In financial investment, it suggests investing 30 per cent of savings into stocks, 30 per cent in bonds, 30 per cent towards real estate, and the remaining 10 per cent in cash and cash equivalents. This gives birth to a balanced financial portfolio.

Similarly, in case of one's financial health, one would admit that we all want to enjoy our retirement in peace in our dream house with loved ones. But, the firing question is, do we plan for the same? When we start talking about retirement plans, then comes the 30-30 challenge of retirement. And if you are unaware of the 30-30 challenge of retirement planning, then it is high time to know more about it and start your retirement planning for a happy retirement.

We all earn for almost 30 years of life, from 25 to 55 years. At this stage, we can earn, save, spend and invest in creating the retirement corpus so that it can be used at the time of retirement, which will be almost 30 years of our lives, assuming the life expectancy of 85 years when we usually depend upon our savings.

Speaking to The Statesman, Jayanta Chowdhury, a Certified Financial Planner, explains the concept of the "30-30 Challenge" at length.

Excerpts: