Retirement Planning
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The High Cost of delaying your Retirement Planning
- August 14, 2019
- Category: Retirement Planning
No CommentsBeing human, we all procrastinate from time to time. We give less importance in our priorities to tasks that are unpleasant or far into the future than those which are rewarding and confronting us today. Similarly, we tend to put off painful but important financial decisions like saving for retirement, compared to funding for an immediate and rewarding goal like vacation. As James Clear says in his best-selling book Atomic Habits- the human brain is evolved to prioritise immediate rewards over delayed rewards. That is why saving money for continuous 15-20 years for retirement fund before your actions deliver the […]
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Does a retiree need a financial advisor in his golden years?
- April 17, 2018
- Category: Retirement Planning
Click to Enlarge Well settled children, zero debt, essential goals met, less responsibilities – this is the typical situation of a retiree. He has saved and invested during the working years and now has a big retirement kitty. His only focus is to manage the same and regularly spend a fixed amount out of it. He may perceive his financial state to be too simplistic. Most retirees hence usually prefer the ‘do it myself’ approach in handling finances. They see retirement as the finishing line after which financial planning becomes secondary to them. They feel they do not need a [...] -
Common mistakes Senior Citizens make with their Retirement Fund
- February 26, 2018
- Category: Retirement Planning
Click to Enlarge While the retirement period marks a new beginning after 60, it also implies the onset of a big financial change in a retiree’s life. This change is about complete reliance on retirement fund and managing the expenses – both essential and aspirational in the absence of a regular income stream. The retirement fund at disposal is typically huge, running into lakhs or crores and it is highly likely that a retiree has never managed such an enormous amount before. The possibility of mistakes is high in the absence of a proper plan to manage the retirement [...] -
Retirement planning in 50s, Is it late to catch up?
- August 1, 2017
- Category: Retirement Planning
Many people ask at what age should retirement planning start. And the usual answer is as soon as possible, no matter what the age. However, nobody seriously thinks of retirement in the initial working years. Then there are many goals to juggle in the 30s like buying a house, car, marriage, children’s education, etc. Retirement thus takes a back seat until people enter the 50s. Do you find yourself in such a situation as you are nearing 50 and have not saved enough money for retirement? Are you worried your retirement nest egg will not be adequate enough? While you […]
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Why should Women take their Retirement Planning seriously?
- March 14, 2017
- Category: Retirement Planning
Priorities for women, both personal and professional, change after marriage. They always put spouse and children ahead of their own goals. In due process, women ignore a lot of their own personal objectives, including their health. This is also true for retirement planning. They lag far behind compared to their spouses when it comes to financially planning for their golden years. This lackadaisical attitude stems from the fact that they are not truly involved in managing their personal finances. While women are active in managing the household budget, other important financial matters relating to insurance, investments, banking, etc., are being […]
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Why should retirees invest a portion of their corpus in equities?
- January 3, 2017
- Category: Retirement Planning
Retirement the golden phase of your life where all your responsibilities are over both personal and financial. You have all the time in the world to pursue your passion and chase your dreams. But the onset of retirement also marks a big financial change in an individuals life – a change in saving and spending pattern in the absence of a regular income stream. The main concerns of every retiree are: Generating a regular income stream Safety of corpus, i.e., capital protection Meeting contingency needs, incl. medical emergency Long term growth of the corpus The last point is something which […]
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How to prepare yourself mentally for retirement?
- April 12, 2016
- Category: Retirement Planning
When we talk about retirement planning, it is usually perceived in terms of how much funds to save, where to invest in twilight years, etc. The focus is essentially on getting finances in order and accumulation of adequate savings. But retirement planning is more than this math. It is also about starting a second innings in your life, akin to rebirth. Many people dream about the day they will be able to retire, be relieved of all major responsibilities and have time to relax with family. While the thought of not being tied to your job can be very relieving, […]
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Shatayushi Bhava Is it a blessing or a curse?
- December 27, 2013
- Category: Retirement Planning
This is the traditional blessing showered upon the young by the elderly people. It means May you live to be 100. Obviously, a lot of us do want to be living till 100 or more! But, is it possible to live till 100? Dr Aubry de Grey famously said in 2011, The first person to live up to 150 years of age is already born. Aubry deGrey is not just a rambling old man. He is a bio medical gerontologist and chief scientist of a foundation dedicated to longevity research. Let us see how true it can be and if […]
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How to Manage & Invest your Retirement Corpus
- October 30, 2012
- Category: Retirement Planning
We all conjure a happy picture of our post-retirement life. A life free of worries with loved ones and having all the time in the world to indulge in activities missed out on earlier. In our productive working life, we focus on accumulating a corpus that would be sufficient to sustain us post-retirement. However it is equally important how we manage our retirement money to lead a financially stress free life. One challenge that many retirees face is the selection of investment options to deploy their retirement funds. For the salaried individuals, the total cash inflow at the time of […]