Retirement planning - how does one go about it?

Posted On Thursday, Mar 30, 2017

The basic question you need to ask yourself is when you plan to retire.
The next step is to keep a very close watch on what is lightening your wallet and by how much - your costs. Find out what your current expenses are and subsequently find out what will be your expenses could amount to by the time you retire, assuming a realistic rate of inflation.
Step 3 is therefore to invest your savings in vehicles that will offer you returns that will beat inflation and leave some money in your pocket to spend. Thus, assuming that rate of return that you require to achieve this expense that you have calculated for post-retirement period, you can work out the total pool required.
Once you know the pool required you can look at the time horizon, risk appetite and existing asset allocation and then plan your future savings and asset allocation to achieve this goal. At times you may find that your savings are less in which case you may have to tweak your retirement goals. Click Here to go to our Retirement Calculator, which will give you a basic idea of what you need to do.
Remember, in addition to retirement goals, your savings will also have to be invested for other goals such as your child’s education, marriage etc. The above is a very brief explanation to plan for retirement. You can consult your financial advisor for further details. You can also visit websites like to understand this better.

Above article is authored by Quantum.

View All

  • Do You Need to Update Your KYC?
    Do You Need to Update Your KYC?

    Posted On Friday, Apr 26, 2024

    New KYC Regulation Effective April 1st 2024

    Read More
  • Are You Stuck in the Past or Ready for a Secure Future?
    Are You Stuck in the Past or Ready for a Secure Future?

    Posted On Wednesday, Jun 29, 2022

    The ever-growing number of mutual fund schemes on offer has made it challenging for investors to select the best and most suitable one.

    Read More
  • Received an Increment? Step-up Your SIPs
    Received an Increment? Step-up Your SIPs

    Posted On Wednesday, Jun 01, 2022

    For instance, let’s assume that you have registered for a monthly SIP of Rs 5,000 for a 10-year period and later on try to step-up the SIP at an annual frequency, say by Rs 500. In the first year...

    Read More

Add To Cart

Add To Cart

Your cart is empty
Total of Lumpsum

Get In Touch

Take small steps in your financial planning to achieve big dreams! Start your investment journey today!

@@tlcomstart@@ @@tlcomend@@