What is Retirement Planning?
You have worked hard to support your family and give them a comfortable life. What about your financial security after you stop working? Isn’t that important too?
Retirement is one of the largest financial goals in life. Retirement planning is the process of determining your retirement goals, estimating the corpus you would require to maintain the desired lifestyle, and implementing this strategy to financially secure yourself in the future.
Early and effective planning could help you maintain the same standard of living post-retirement and lead a stress-free life.
- Set a target retirement age
- Identify your retirement goals
- Calculate the amount you will need to meet these goals. Factor inflation into the calculation
- Invest in the right retirement plan that can help you stay financially prepared to meet your post-retirement goals.
- Your retirement age
- Your health and lifestyle
- Any loans or liabilities
- The retirement goals you may have
- Any commitments you may have to fulfil