Retirement Planning

Retirement Planning

Article Summary…..

Retirement Planning

Importance of Retirement Planning & Retirement Options in India
It is important to plan your pension or income after retirement. Today we are young India and by the year 2050 these young will become senior citizens. Just buying policies or investment instruments don’t ensure your retirement with dignity. Some key factors that act as catalyst for Retirement Planning in India.

A) Less working years than non working years
B) Increasing Life Style
C) Increasing Living Cost
D) Nuclear family culture
E) Advanced Medical Facilities
F) Increasing Medical Cost
G) Absence of Social Security System

Life Cycle of Individual

There are two phases of Retirement Planning. There are different options for retirement before or after Retirement.

1. Accumulation Phase of Retirement:

To plan for your retirement you save some amount every month to build your retirement corpus. This corpus makes you confident to retire if it is sufficient enough to take care of your necessities.

2. Distribution Phase of Retirement:

In these years to live your passion, you use this retirement corpus to generate regular cash flow. You get regular monthly or annual expenses in advance for your needs from investment of these assets.

Expenses after Retirement

A) Living cost
B) Domestic Help
C) House and Appliance maintenance
D) Monthly medical cost
E) Medical Emergencies
F) Gifts to grand kids
G) Vacations
H) Maintaining Life Style

Some important factors while planning retirement

A) Don’t plan retirement in isolation.
B) Start planning your retirement as early as you realize.
C) Get a comprehensive Retirement Plan with your existing assets and the new contribution to be made.
D) Keep it simple
E) Don’t stop or postpone your investments.
F) After retirement look for returns after Tax and Inflation adjustment

Plans before retirement-Accumulation Phase

1. Pension Plans in India by Insurers.
2. Pension Plans in India by Mutual Funds.
3. Public Provident Fund.
4. Provident Fund.

Plans after retirement-Distribution Phase

1. Immediate Pension Plans by Insurers.
2. Monthly Income Plans by Mutual Funds.
3. Senior Citizen’s Savings Scheme by Post Office / Designated Banks.
4. Monthly Income Scheme by Post Office.
5. Fixed Deposits / Bonds.
6. Rental Income.

Anil Kumar
Anil Kumar
2021-07-12
Thanks from bottom of my heart to Mr. Viplav Majumdar and his team for making such an amazing program
Rahat Jahangeer
Rahat Jahangeer
2021-07-12
I want to recommend this platform to each and every person I know.
Anmol Panday
Anmol Panday
2021-07-12
This is really a mission that Mr. Viplav Majumdar and his team is doing, Because 95% people don't know about this and the rest 5% wealthy people who know about this are not worried about others.
Raj Singh
Raj Singh
2021-07-12
Planyourworld gave me new avenue to explore to streamline my income
Vikram Choudhary
Vikram Choudhary
2021-07-12
Planyourworld has helped on financial plan & how to take care of money plan towards untoward incidents in life.
Manish Nagar
Manish Nagar
2021-07-05
I went through the ebook, I haven’t seen that any advisor tells these things to us
Faizul Khan
Faizul Khan
2021-07-05
I needed some more from Viplav, if he could check my things personally. Later I realised he wants us to learn, so I can do it on my own.
Sudhanshu Singh
Sudhanshu Singh
2021-07-05
I never saw a complete package at this cost. I might have easily paid 25k for this
ankush choudhary
ankush choudhary
2021-07-05
I am already getting my passive income, still enrolled, I know I didn’t know anyone who is interested in me, Viplav and his team really helped me
Nevermore
Nevermore
2021-07-05
The entire package is awesome, I am using it I am satisfied.

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