If I ask for your retirement plan, you might end up telling me that you would be comfortable retiring if you have 2 or 10 crores in your hands right now.
But let us think about this assumed answer above:
Is it an idealistic answer or a practical one?
An idealistic one, right?
To be able to retire with a huge sum of corpus like that, we have to start planning an Investment Strategy to accumulate our desired corpus.
This process might lead you to questions like;
All the answers to your questions can be answered by watching our video below on “What, Why & When of Retirement Planning?”
Retirement is considered a long-term goal.
Not only because you spend a lot of years saving up for it but also because you are saving up a corpus to sustain you in your no income period of at least 30 plus years.
It is not just important for you to save up for 30 years but also to save up considering the future value of your expenses as inflation will increase the cost of your expenses over the years.
This type of planning for your finances long-term will require a working investment strategy.
You can clear all your doubts regarding financial planning for your retirement by watching the below video where our experienced speaker Mr. Gururaj has explained in detail:
But how do you actually calculate your desired corpus?
The corpus that would let you lay on your back without any worries in your sunset years.
Watch our video below to find out the answer from one of our industry experts Mr. Gururaj with the example of an illustrative case study:
You can also use our “retirement corpus reliability calculator” to help you ease the process.
After calculating your desired corpus, you will need an Investment plan to execute it into action.
You can approach the bucket investment strategy to start accumulating your retirement corpus.
By categorizing your financial goals into:
To know more about this kind of investment strategy, watch our video below and hear it in detail from one of our industry experts Mr. Gururaj:
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Gain valuable knowledge on single retirement planning through this informative blog. Learn about budgeting, saving, and investment strategies designed specifically for solo retirees.
Thank you
Understanding the 'what' of retirement planning, including the various accounts and investments available, is crucial for anyone looking to secure their financial future. The 'why' section was a great reminder of the importance of retirement planning, not only for financial security but also for peace of mind and the ability to enjoy life in retirement.