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With Effective Retirement Planning - Save Now & Enjoy Later
Retirement Income planning consists of Personal planning and Financial Planning.
Personal planning involves identifying hobbies and activities that you would want to pursue after your working life is over. Wherein financial planning is used to identify the investments that will fulfil your future expenses after Retirement.
Foolproof Steps To Retirement Income Planning
1. Identify & compare your income and expenses to determine any shortfalls or surpluses.
2. Use our online Retirement Planning Calculator to know how much upfront or SIP investment is required.
3. Review & analyze the various retirement income strategies.
4. Develop an action plan.
Investment Avenues To Create Your Retirement Fund
When we look across all the investment avenues available to save for your Retirement, we apply a general filter of Safety of Investment that guarantees a payout as income. We also need to beat inflation by around 3-4% only. Keeping this in mind, let us look at a few options that you can consider as avenues to create your retirement fund –
1. Public Provident Fund (PPF):
2. Mutual Fund in India
3. National Pension Scheme (NPS)
Save Now & Enjoy Retirement Later
If you’ve yet to start saving for retirement, make 2019 the year you ramp up. That’s because the more time you give yourself to grow your savings, the more you’ll get to take advantage of compounding growth. That’s why with effective retirement planning, you can save now and enjoy later.
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