1. Need for a proper retirement plan to accumulate sufficient retirement corpus arises due to factors like:-
a) Increased longevity, due to medical advancement.
b) Increased job gyrations due to various factors.
c) Increasing consumption and lesser savings.
d) Collapse of the joint family system.
e) Consistently high rate of inflation.
f) Absence of an adequate social security network.
2. For most people, investing for one's retirement comes after:-
a) Marriage
b) Buying a car and a house
c) Child’s education and marriage
d) Going on a vacation and
e) Meeting other aspiring goals
3. But retirement planning should always be an integral part throughout one's earning years, in line with aspects like:-
a) Financial situation and earning capacity.
b) Risk-taking ability and investment horizon.
c) Liquidity situation and tax planning.
d) Insurance needs for family protection.
4. For building a healthy perpetual retirement corpus, the following thumb rules will be handy:-
a) Start long-term investing early in life through simple products.
b) Allocate at least 10% of current monthly income regularly and exclusively for it, without mixing it with other goals.
c) Build a retirement corpus of 20 times (or more) of one's post-retirement annual expenses (generally taken as 80% of pre-retirement annual expenses).
d) Being a very long-term goal, opt for a top-rated multi-cap fund during one's earning years, with annual reviews, switching to a top rated hybrid aggressive fund upon retirement.
e) Stop further investments in it, and start withdrawing targetted retirement expenses from it on a monthly basis.
f) Reinvest any surplus monthly savings in it, if possible.
5. Even long-term inflation gets taken care of perpetually, if annual returns of one's retirement corpus remains 5.2% more than it, fully protecting retirement corpus for bequeathing it.
a) Increased longevity, due to medical advancement.
b) Increased job gyrations due to various factors.
c) Increasing consumption and lesser savings.
d) Collapse of the joint family system.
e) Consistently high rate of inflation.
f) Absence of an adequate social security network.
2. For most people, investing for one's retirement comes after:-
a) Marriage
b) Buying a car and a house
c) Child’s education and marriage
d) Going on a vacation and
e) Meeting other aspiring goals
3. But retirement planning should always be an integral part throughout one's earning years, in line with aspects like:-
a) Financial situation and earning capacity.
b) Risk-taking ability and investment horizon.
c) Liquidity situation and tax planning.
d) Insurance needs for family protection.
4. For building a healthy perpetual retirement corpus, the following thumb rules will be handy:-
a) Start long-term investing early in life through simple products.
b) Allocate at least 10% of current monthly income regularly and exclusively for it, without mixing it with other goals.
c) Build a retirement corpus of 20 times (or more) of one's post-retirement annual expenses (generally taken as 80% of pre-retirement annual expenses).
d) Being a very long-term goal, opt for a top-rated multi-cap fund during one's earning years, with annual reviews, switching to a top rated hybrid aggressive fund upon retirement.
e) Stop further investments in it, and start withdrawing targetted retirement expenses from it on a monthly basis.
f) Reinvest any surplus monthly savings in it, if possible.
5. Even long-term inflation gets taken care of perpetually, if annual returns of one's retirement corpus remains 5.2% more than it, fully protecting retirement corpus for bequeathing it.