123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Investing---Finance >> View Article

Get Set For A Great Retirement Life

By Author: Deepesh Reddy
Total Articles: 3

So when the idea of retirement pays you a visit the next time, set your expectations right. Many people spend a lot of time trying to figure out the numbers they would love to have on retirement; how much money they will have in their accounts, the amount they will get from provident fund and pensions, the inflation of the market on retirement, various taxes, and return rates. But these are not enough and will just be as ambiguous unless you attach clarity on purpose of the wealth you plan for retirement. For that, a bucket list serves right.

So what is this bucket list and how does it help? A bucket list is your to-do list arranged priority wise leading one to accomplish such goals methodically. A bucket list for retirement may include “5 countries travel plan”, “Continuing to fund children’s education without taking external loans”, “Buying your dream house”, “Going for a pilgrimage” or maybe if you are an adventure spirited, trying out “Bungee-jumping at 60”. It can be just anything. Once you collate your plans, you can then map them to their expenses and generate a spending plan for the actual retirement budget. This exercise will help you ascertain the near actual amount you may need to make your retirement a happy experience.

Story: Like all parents, Mr. and Mrs. Kumar worked hard, saved enough to send their kids abroad for further studies. Once their children had completed their studies, they decided to stay back and not return home. The woman is now two years away from her retirement and the man, a few months only. And on their retirement, both their finances put together will go for rent, their insurances and emergency fund. What they now realize is, if their children are not returning home, their trip to Europe will never happen and in fact they may have to move into an old age home. They only wish that despite all frailties, their organizations would retain them for a couple of more years.

But what did they miss on that resulted into this disappointment? Was considering foreign-education for their children a wrong decision? Definitely not! In fact not considering the requirements of their retirement life now proves to be the challenge.

After years of hard work and toil, this is certainly not something that Mr. And Mrs. Kumar deserve. We also do not know what situation their kids may be under. The best analysis is the couple should have been extra prudent in understanding their own expectations from retirement. When we are independent at retirement, our relationships too value us, besides our own finances.

So when you gather time to plan out your retirement, sit with it objectively, name out the various things that you would like to achieve either jointly with your spouse or personally. Once you know things you need on retirement, you can then consult with a financial advisor who can help you draft a financially plausible plan, path to fulfilment and thus an enjoyable retirement.


For more info, visit: https://www.arthayantra.com/

Total Views: 214Word Count: 502See All articles From Author

Investing / Finance Articles

1. Receive The Best Bookkeeping Service With The Help Of A Professional Bookkeeper Sunshine Coast
Author: Monique Bock

2. Bse Extended The Deadline For Mutual Funds Investors To Link Their Adhaar Card
Author: Robin Scott

3. How To Get Right Business Loan In Mumbai
Author: Amit

4. How To Identify Stocks Through Fundamental Analysis Of A Company?
Author: Chetan Rathod

5. How To Be A Successful Intraday Traders
Author: Robin Scott

6. Looking For A Business Loan – Heard About Loan Against Property And Loan Against Bonds?
Author: Chetan Rathod

7. Why It Is Important To Diversify Your Investments
Author: money classic research

8. Some Devious Tricks To Win The Stock Market
Author: Robin Scott

9. Finance Your Mobile With 0 Percent Interest Loan
Author: Meenal Wahi

10. Mcx Free Tips And Nifty Option Tips – All In Accurate Way To Gain More Profits
Author: Sandy Allen

11. 5 Simple Hacks For Reducing Ac Repair Cost
Author: Rajesh Patil

12. Advantages Of Payday Loans
Author: Broad Stevens

13. Seeking For Huge Returns? – Know The Top Penny Stocks For 2018 India
Author: Robin Schott

14. Challenges Faced During Merger And Acquisitions By Firms
Author: Sandeep Sharma

15. Why It Is Important To Understand Your Risk Tolerance
Author: Robin Schott

Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: