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How to Plan For Retirement in Your 30s, 40s, and 50s

Would you like to retire with a sufficient corpus to be financially independent in the golden years of your life. Retirement is that phase of life that most people look forward to. Most individuals would have taken care of their financial liabilities and responsibilities by then. But do you know that if planned properly, you could actually create a corpus that could generate retirement income for the rest of your life and be more fulfilled by having enough time to do things you would enjoy most like time with family and relatives, hobbies, travel, socialise etc. Ideally, you should start planning for your retirement corpus at the earliest stage of your working life. If you have not planned, you can still start now, whether in your 30s, 40s or 50s. In this article, we will understand how to plan for retirement at your age.

Where and How Should You Invest Your Retirement Corpus?

Retirement planning has two stages. The first stage is to work towards building a retirement corpus. You must save and invest regularly every month during your working years to build your retirement corpus. The second stage of retirement planning is to deploy the retirement corpus. You accomplished your financial goal of accumulating a retirement corpus. Now, it is time to deploy it so that you can enjoy your golden years. In this article, we will discuss the second stage of retirement planning, which deals with how to invest the retirement corpus.

Why Retirement Planning Is Important and How to Go About It

In August 2023, Max Life Insurance published the India Retirement Index Study (IRIS) findings. Some of the findings of the study include the following:

How to Use SWP for Withdrawing Funds From an Accumulated Corpus

There are instances when you need a specified amount every month for a specified purpose. For example, you may need a specified amount every month to pay the child's education fees, loan EMIs, regular expenses during retirement, etc.

When should you start with Retirement Planning?

Don’t be fooled by all those advertisements featuring retired couples sipping cocktails on a sunny beach. Retirement Planning is serious business; and a mix of social, cultural, and economic factors are making it a more critical element of your financial planning with every passing day. Unfortunately, recent research also shows that only about 50% of us are habitually saving for our retirement planning.

5 Reasons to Get Professional Help for Retirement Planning

Retirement planning is an important financial decision that can have a huge impact on one’s financial future. It requires careful planning and analysis in order to ensure that one’s retirement savings are maximized and that one’s retirement lifestyle is secure. Unfortunately, many people attempt to tackle this process on their own, without the help of a professional. This can be a mistake, as there are many reasons to get professional help for retirement planning.

How To Plan For Retirement As Per Your Age

Retirement is a major life event that many people look forward to, and one of the key objectives of availing high quality financial advisory services is to ensure that you have an adequate retirement corpus in place. For some, retirement is a time to relax and enjoy the fruits of their labor. For others, it's a time to travel, pursue hobbies, and spend time with family. Regardless of how you plan to spend your retirement, it's important to plan ahead. Here are some tips on how to plan for retirement, based on your age.

How ELSS Funds Can Help You With Your Retirement Planning

ELSS Funds are an important part of retirement planning. ELSS Funds are essentially tax saving investments with a 3 year lock in period, and can be used to generate better capital growth over time compared to traditional tax saving instruments.

Retirement Planning Tips for Married Couples

So, you went ahead and tied the knot with the man or woman of your dreams. It’s a time of celebration, and surely, retirement planning is the last thing on your minds! However, this is actually the best possible time to get your heads together and consult a retirement planner . You’ve got time on our side, and would be mentally open to establishing “joint” money values that you will carry forward into your life together. Here’s what you need to do.

When should you start with Retirement Planning?

In Your Thirties? Avoid These Common Retirement Planning Mistakes!

Are you in your thirties right now? Your retirement may seem a long way away today; but this is really the best time to start planning for it – if you haven’t already. A multitude of factors are increasing the need for maintaining structured, disciplined and committed action towards your retirement portfolio. Here are four mistakes to avoid on your journey.

Recently Retired? Here’s what you need to do

If you’ve recently retired, or are about to, you’ve probably got a hundred questions swimming about in your mind right now! Have I saved enough? What if my money runs out? Should I invest aggressively and aim for high returns, or play it safe instead? Should I use up my resources, or aim to bequeath some portion of it to my heirs? Should I try to find some part time work? The list is endless… and sometimes frightening! Here are a few things for you to do right away.