Have you ever given a thought how you will manage your living, when your pay
checks stop coming or when you no longer want to work?
Answer is Plan for Retirement
Retirement is a state of mind of being financially free. Planning for retirement is all about savings
and withdrawal with discipline. It’s about making money that lasts for lifetime.
Planning At young age or Parenting Age:
- Retirement Planning - seems like a crazy thing at this age. And with the
increasing expenses in life it’s difficult to save for goal which is too far. It
may or may not be part of your to-do-list.
- Time is the biggest advantage you have got here. With this long time span to
save and invest, the power of compounding would do wonders.
- Little and regular savings in equity fund is all you need to have a Happy
- Life will always get in the way, but you got to save today to spend tomorrow
Years just before Retirement:
- Starting retirement planning at this age may require considerable changes in
one's lifestyle, but they would be less troublesome than changes that one might
be required to make after 10-15 years.
- For those who have already begun it's important to assess where have you reached
and would this work considering your current lifestyle. However, some big
financial responsibilities (kid’s education and their wedding) will also be
knocking at your door. Don't put your retirement at stake to pay for kid's
college or their wedding or other goals. As it's you who will have to pay for
your retirement, disciplined and balanced savings in diversified equity funds
and debt funds is the way ahead. Don't be too defensive as retirement planning
is not about planning till 60 but it's about planning "till you live".
Your financial future begins at Ocean Finvest