Call Now
+91 9511842248
Send Email
sunny@incrementumwealth.in
Address
Magarpatta, Hadapsar, Pune, MH (411013)

Retirement Planning

Retirement is the most neglected goal in India. However the fact is that NO LOAN is available for retirement. Hence the need for retirement planning. With ever rising retail inflation, can you estimate what will be your monthly expense of Rs. 30,000 today, after 20 years? It will be RS. 1.4 lakhs. So the early you start planning for retirement, the better.

Social Security will be an important part of your retirement plan. Our new features explain everything you need to know, including how to maximize your Social Security benefits.

Reasons to Plan for Retirement Today

Retire Richer:

The more time you can give your money to grow, the better corpus you will have at retirement. Since you cannot move your retirement date too much, it’s better to start investing as soon as possible. Give maximum time to your money for maximum compounding to take effect.

Save More Tax:

Investments to retirement plans and life insurance pension plans help you save tax every year under section 80C. With new regulations in place limiting the amount of investment to individual retirement plans to Rs. 2.5 lakhs, starting early is even more important. You can still build a formidable corpus without exceeding your tax-exemption limits.

Avoid Last Moment Rush:

Correcting the gaps in your retirement corpus becomes difficult as you progress. If you avoid investing adequately in your retirement early on, you are likely to encounter gaps in your retirement fund goal. This gap will be difficult to fill when you are close to retiring, due to insufficient time. You can avoid this by starting now.

Offer Better Growth to Your Investments:

All market-linked investments are inevitably risky. When you start investing early you have ample time to monitor the performance of the investment and make necessary portfolio adjustment.

Cheaper When Younger:

Retirement plans offer dual benefits of insurance and investment. When you are young the body is less prone to diseases, which reduces the risk for the insurer. Since insurance is a business of risk assessment, the premiums are lower for young policy buyers.

Key Components of Retirement Planning

Retirement planning in India involves systematic preparation to ensure financial security when regular income ceases. This preparation encompasses saving, investing, and optimising tax strategies to build a sufficient retirement fund that aligns with future living standards and needs. Understanding and implementing each component of retirement planning in India can significantly impact your financial security in your golden years.

By combining effective savings and investment strategies with smart tax planning and accurately calculating your retirement needs, you can ensure that you are well-prepared to enjoy a comfortable and financially stable retirement.

Retirement Planning