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| Retirement Planning |
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While planning for your retirement isn’t strictly a part of estate planning, it however is an important precursor to effectively planning your legacy.
Retirement is a reality that in the years to come would definitely come our way. A wise investor would definitely plan keeping both eyes open. As a well planned individual, wouldn’t you want to enjoy your golden years and still leave behind enough for your loved ones? This is why you need to plan your retirement well.
Retirement is usually a time when your income is negligible and your expenses could peak because of many age related health issues. At that point in life, any self respecting individual would want to hold his head high and lead a comfortable life without having to turn to anyone to ask for financial support.
In our youth, many of us make the mistake of thinking, “ let me enjoy now, abhi bahut time hai” Little do we realise that time flies by and we are soon knocking at the stage in life called our retirement.
Wise planning means the earlier we start, the easier it gets to build a sizeable retirement corpus. When we start early, we need to put in much lesser money as compared to starting in our middle years.
Retirement Planning involves 3 steps
1. Building a capital base
2. Preserving the capital
3. Using that capital to give yourself a retirement income
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As shown in the 3 step process, effective planning entails accurate projections, along with constant assessment of the situation. We may even see a situation, where we need to revisit or modify our plan to factor in changes in environment.
So be wise, don’t delay, contact our experts who’ll guide you to on how to reach a rich retirement. |
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