Pension Basics: Need for Retirement Planning in India

 

4 out of 5 Indians are not prepared for their retirement needs.

As the average population starts ageing, a larger group of the population will be in their retirement days. This is a huge problem that needs immediate attention.Capturing memories for your retirement days to be momentous was a splendid idea by someone for someone, but will those golden days be as prosperous as the memories your Retirement planning , then keep on reading.



Will you be earning eternally? Or will you be parasitizing over your offspring after your earning stops? Even if you have the slightest thoughts about being dependent upon your children, STOP! Stop right there! Read this blog thoroughly, and take your first step towards retirement planning today.

Living longer doesn't always guarantee healthier living. Hence, living longer costs you bread as well as medicines. Setting up your Get Early Retirement stability before the rock hits you, should be the major point of focus. Counting only on the grants doesn't ensure a fruitful life, but prudent Retirement Planning does.

Don’t wait to enter that retirement dotage to start planning. Indians have this core of safekeeping their money for immediate causes but fail to uphold the investments needed in the future to enhance their financial independence.

The need for Retirement Planning in Indians starts in the last years of their grind. This delayed planning can lead to a lot of stress emotionally and financially. Hence, we urge you to embark on your journey towards a stable retirement early. This can be done with the help of varied financial planners and digital pension platforms available in the market.

The small steps that you can take today are:

Manage a retirement budget:

You must spend time analysing retirement expenses. Come up with an accurate estimate of the monthly funds you’ll need once you retire.

Make an investment plan:

Create an investment plan that will help you to build your retirement fund. This could be done by investing in different avenues like shares, mutual funds, real estate, gold, etc. Now of course there are people who know these Investment avenues better, so you can rather spend time looking out for the right people who can help you plan your retirement fund. For your convenience, some of the recognized Retirement Planning Products in India are listed -

National Pension System (NPS) Public Provident Funds(PPF) Employee Provident Funds (EPF) Employee's Gratuity Scheme Start early, Live dearly !! FAQs:-

1.Why is Retirement Planning in India important today?

Retirement Planning is the need of the hour in India. Retirement planning is a process of saving and investing that saves money in such a way that you don’t have to worry about your expenses once you retire.

  1. How can early Retirement Planning benefit you?

Financial Planning can support you in your old age and let you lead a life with dignity.Warren Buffet once said, "I made my first investment at age eleven. I was wasting my life until then." Hence, it proves that investing early will eventually result in massive corpora.

  1. When should one start investing?

The person looking for a stable retirement should usually start investing as early as he/she starts to earn. It's never too early to invest.

  1. How can we start retirement planning with PensionBox?

Pensionbox is a digital pension platform that enables you to plan your pension digitally. Sign up today on our platform to know more.

#Retirement planning#Get Early Retirement#Retirement Planning#National Pension System (NPS)#Financial Planning

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