Begin Planning for your Retirement- Retirement Planning made Simple

By | 29/09/2018

One continues to earn money for all his active working life. But one day he has to retire at the age of 60. After retirement he still has to pay for his expenses and basic necessities. If you want a blissful retired life, India’s Best Free Online Retirement Planning Financial Advisory says that you need to plan your finances really well and invest money in order to sustain retired life independently.

Retirement gives you the opportunity to spend the golden years of your life following your passion, spending time with family and friends, doing what you always wanted to do but couldn’t (such as travelling, opening a bookstore, etc) and so on. Best Financial Advisor Kuber Mindz says that you still have to cover daily living expenses, medical expenditure, etc. during retirement. That’s why Retirement Planning is imperative.

What is Retirement Planning?

Retirement planning means the allocation of savings for retirement purposes. Retirement Planning is done to achieve financial independence and security during retired life. Certified Financial Planner Kuber Mindz says determining retirement income goals and taking the necessary actions and decisions for achieving the goals is called Retirement Planning.

Retirement Planning is done to be prepared for life after you stop getting those monthly pay cheque and text messages about salary being credited to your account. Best Interactive Financial Advisor Kuber Mindz observes that in India there has been a millennia old tradition of joint families where the old, disabled and sick people were taken care of by the kids and grand kids. With the passage of time, joint families reduced drastically and old people are now left to take care of themselves. This makes Retirement Planning all the more important as you can’t expect somebody to take care of you during retirement.

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Features of Retirement Planning

  1. Beat inflation

Inflation is already burning holes in our pockets and there is no need to rub salt on wounds by talking about inflation again. But Retirement Planning can help beat inflation by investing well.

  1. Cover expenses during retirement independently

By planning for retirement, you are essentially ensuring that your future self can independently fund his own lifestyle and expenses, at least the maximum part.

  1. Follow your passions and live the life you always wanted to live

During your working life you wouldn’t have ad time to do the things you enjoy. It could be travelling, living in the countryside or some city, etc. Retirement planning helps you achieve that during retirement.

Merits of Retirement Planning

  1. Tax Benefits

If you are between 60 and 80, you enjoy a wide range of tax benefits. If you are above 80, you enjoy a wider range of tax benefits. This gets even better with Retirement Planning.

  1. Chase your dreams

Your golden years is the time for you to relax and do whatever you always wanted to do since your working years but couldn’t do. Retirement Planning ensures that for you.

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