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Every one dreams about a comfortable retired life but how many actually Plan.
Why not turn this dream into reality?
There was a time when people gave little thought to planning for their retirement. They were somehow able to manage with their PF Receipts and other savings or they had their children to look after them.
Now, the scenario has changed radically. We do not want to compromise on our lifestyles even post retirement, competition is immense and joint family has become a rare phenomenon. Many people postpone their wishes to retirement. For e.g., going for a foreign tour or for a pilgrimage, buying a vacation home and so on.
In the light of these factors, Retirement Planning has emerged as one of the most important goals for one and all. Irrespective of the age bracket or work area we may belong to, Retirement Planning is certainly relevant for each one of us. While some of us may be self employed professionals aiming to work till we live, but it is important that we understand that as we age, our stamina goes down and so does our work capacity and there is no exception to this law of nature.
I have missed the bus, or There are many years before I retire, both these schools of thought are inadmissible and just another way to procrastinate. By thinking this way, you will never be able to make your retirement years, the golden years of your life, where you do not retire from work but also from worries, tensions and any form of anxiety.
So, what are you waiting for?
To start with, you can earmark a part of your monthly income towards funding your retirement. If there are over 10-15 years to your retirement, invest this amount in a growth portfolio with equity as the dominant asset class.
If there are less than 10 years for you to retire, increase the monthly savings amount and invest it in a moderate portfolio so that you do not bear high risk on your investments.
The retirement plan would differ case by case depending upon client specific situation in terms of portfolio size, intermediate goals, risk appetite, years to retirement, retirement contributions, etc.
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