Retirement Planning

The old adage, “Don’t put off until tomorrow what you can do today” is particularly true of retirement planning.
Funding retirement or staying within your budget during retirement demands commitment. Undoubtedly, it is an obligation that entails sacrifice and careful planning. Although this commitment is extremely important, few find the time to adequately address their future income needs.
The situation is compounded by the myriad of institutions claiming to have the solution. The outcome is typically confusion, which leads to inaction.
Our team can help you to create an understandable saving and investing strategy designed to provide a favourable retirement outcome.
f you’re someone looking to spend a quality retired life, then retirement planning should be on your priority list. Often in our busy schedules, we forget to foresee the future and keep delaying our plans. But what we need to realize at the outset is, the sooner we start, the more we shall be able to accumulate till retirement.
What is Retirement Planning?
Retirement planning is a process of setting retirement income goals and following them with the actions necessary to achieve those same goals.
An easy rule of thumb says that you’ll need to replenish 70% to 90% of your pre-retirement income to lead a good retired life. This means if you’re making ₹ 70,000 a month (before taxes), you might need ₹ 49,000 to ₹ 63,000 a month in retirement income so as to enjoy the same standard of living you had before retirement.
For example, if somebody plans to retire in next 15 years, then retirement planning would have to include creating a system to actually generate ₹ 49,000-63,000 per month income from year 2034 when they retire.
If you are targeting 70% of your pre-retirement income for post-retirement usage, then you need to not only save, but also invest properly. This would mean investing in high-return assets so that your savings grow at faster rate.