You would have to choose investments to reach your retirement goal based on how much money you would require after retirement.
The major factor in setting up a retirement goal is at what age you want to retire .Earlier you want to retire, more is the importance you need to give to your retirement planning.
Take up investments to match your retirement goals based on the risk you are willing to take. If you are a conservative investor invest in risk free securities. If you are an aggressive investor, invest in securities which give higher return at higher risk.
Your children would provide you money for a retired life. But is it right for you to depend on them?
You can retire early with excellent retirement planning. You will have plenty of time to catch on your hobbies and other interests.
You get no income after retirement. You have to plan for your retired years now, if you want to enjoy the same lifestyle you currently enjoy.
You get tax benefits if you invest your money in a pension plan or an annuity scheme. This helps to save on tax.
Retirement planning is done based on age.
Retirement planning is done keeping inflation in mind.
Retirement planning if done well should help you lead the same lifestyle after retirement, that you lead now.
Your current age and when you plan to retire is very important in retirement planning.
Know your current expenses. Higher they are, more is the money you require at retirement.
Keep inflation (General rise in prices of goods or services with time), in mind when you do retirement planning.
Calculate how much you would require after retirement to maintain the same kind of lifestyle you enjoy now.
You have to estimate how long you would live after your retirement. If you were to live up to 80 years (20 years beyond your retirement age of 60 years) you would have to plan for these years.
11 March 2015, Wednesday
For the growth and progress of India financial inclusion is a must. The poor people of our nation have no access to basic banking services and bringing banking to the unbanked is the motto of financial inclusion. A Pension especially for those who work in the unorganized sector is a must and the A...
22 November 2014, Saturday
In a pension plan you invest sums of money and build a corpus which is used to build your retirement fund. On retirement you are paid a pension from this fund. Traditional pension fund: Your money is invested in fixed income securities such as fixed deposits or debt mutual funds. The...
18 November 2014, Tuesday
There are a number of investment avenues in the market for you to choose from. You can prefer the scheme according to your income, risk taking capacity, investment tenure, etc. Age is an important factor in determining the investment that suits you because generally income and responsibilities wil...
18 July 2012, Wednesday
Formalities for a health insurance claim You can make a claim under a Health insurance policy in two ways : On a Cashless basis and A Reimbursement Claim On a Cashless basis : For a claim on cashless basis, your treatment must be only at a network hospital of the Third Party Administrator (TP...
14 March 2014, Friday
As the name suggests ELSS invests the whole corpus in equities. Proportions as high as 80-90% of equities are found in an Equity Linked Savings Schemes. It is a special kind of mutual fund that qualifies for tax benefits. Basically Equity Linked Savings Scheme is a mutual fund with a lock in peri...
07 January 2014, Tuesday
One of the most common reason for family feuds in India as in the rest of the World is faulty estate planning. Estate planning is a neglected topic in India mainly because of the emotions attached to it. A common reason people neglect to make a will or indulge in estate planning in their younger y...