Retirement planning should never be a single event, but an integral part of the overall life stage financial planning.
A) For this, some of the tenets to be looked at are:-
1. Financial situation of the individual and his earning capacity.
2. Risk-taking ability and his investment horizon.
3. Taking care of the liquidity situation of the person.
4. Need for tax advisory to save some more on taxes.
5. The person’s needs of insurance for protection purpose.
1. Financial situation of the individual and his earning capacity.
2. Risk-taking ability and his investment horizon.
3. Taking care of the liquidity situation of the person.
4. Need for tax advisory to save some more on taxes.
5. The person’s needs of insurance for protection purpose.
B) Some of the Do’s and Don’ts of retirement planning are:
1. Start investing early and stay invested for the long term.
2. One should not delay in putting in place a retirement plan.
3. Stick to simple products and solutions.
4. Spend time on your retirement planning.
5. Review your plan at regular intervals for course-correction.
6. Shun the traditional ways of taking care of retirement.
1. Start investing early and stay invested for the long term.
2. One should not delay in putting in place a retirement plan.
3. Stick to simple products and solutions.
4. Spend time on your retirement planning.
5. Review your plan at regular intervals for course-correction.
6. Shun the traditional ways of taking care of retirement.
One could be young and without money, but one should never be old and without money - and this is totally in your own hands !