Financial Planning For Retirement

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Every person in this World comes to an important phase that is Retirement. After giving your precious time to your job finally it comes. After handling much of responsibilities in job and other related work , now the time comes which is called Full Family Life. Retirement also comes with with its own share of financial woes and unpredictable measures. The absence of a regular monthly income means that strain is put on the existing savings and returns from investments. Here i am discussing  some simple ways, financial planning for retirement

Financial Planning For Retirement 

 Step by Step Guide  Financial Planning For Retirement 

  • Increase the Investment with increase in income

    It simply indicate that you must stick to the point that if you got an increment or promotion in your job simultaneous your investment should be increased. If you follow the situation this way, you will definitely increase your wealth for retirement. You can easily calculate your investment and income here.

    Financial Planning For Retirement

  •  Start Saving Early

    The first rule of retirement planning is the easiest to follow. Firstly, you can start by setting aside at least 10 – 15% of your income annually to your retirement in order to have enough income during retirement.Secondly, it’s okay if you start your retirement planning in your 30s. However, to ensure a stress-free retirement period, due planning has to be done much earlier. 

    Financial Planning For Retirement
     

  • Invest in Real Estate 

    It is the most common and easy way to generate guaranteed wealth for your retirement. Since rents increase every year, this form of income also helps stay ahead of inflation. In addition, we can also sell the real estate asset and create an addition corpus for investment.
    Financial Planning For Retirement

  • Monthly Income Scheme at Post Office

    This investment scheme offers a guaranteed return of 7.7% annually, offers a monthly fixed income, keeps the initial capital safe and yields better results than other debt instruments. The scheme also provides for a recurring deposit into which the income can be parked. This accelerates savings. The maturity period is 5 years. There is no TDS for this scheme but the interest earned is taxable. The scheme does not qualify for tax benefits under section 80C of the Income Tax Act.

    Financial Planning For Retirement


  •  Mutual Funds

    One of the most important investing plant for your retirement is Mutual funds. These investments have higher liquidity and allow the investor to earn a steady income. They carry lesser risks than investing in the primary market and yet offer good returns on investment.

     Financial Planning For Retirement

    Conclusion 

    At the above given ideas and research it show how to do financial planning for retirement without taking any additional help from professionals. If anyone follows these rules of saving, investing, dividend yield can more enjoy there life after the retirement. By the above information it also show that if we can start investing early we can achieve more than start late. If you are started your recently it is your turn to start investing wealthy and wisely. I suggest you to stick to above for Happy Retirement.

    Thanking You,


  


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