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Planning retirement (10+ years away)

Planning retirement (10+ years away)

If you have already started planning for retirement and your key life- stage goals, find out where you stand.

Review your retirement plans >>

Have you made adequate provisions for your various life-stage commitments and your retirement income? Now is the time for you to save as much as possible and stay on track taking advantage of key savings and contribution strategies to help you achieve your financial goals. By reviewing your plans, you can check whether you are on track to support your desired lifestyle during your retirement years.

Here are some ways to review your savings strategy for a financially secure future:

Save and invest early

  • If you are expecting a large one-time expense towards children’s marriage or education, have you kept aside a fund to meet those expenses?
  • Have you maintained an adequate cash reserve, a minimum base liquidity depending on your financial situation?
  • Have you reviewed your savings plan and investment strategy vis-a-vis your financial goals?

Your investment portfolio will serve you best if it mirrors your financial goals, objectives, and lifestyle plan. Vital saving strategies can help you take advantage and grow your earnings.

Manage your investments

  • Have you assessed your risk tolerance and determined an asset allocation?
  • Are you maintaining a diversified portfolio of investments to keep pace with inflation?
  • Have you taken into consideration attributes such as cash flow, liquidity and tax implications?
  • Have you set up automatic contributions like monthly deductions directly from your salary towards your investments?
  • Do you need to adjust your portfolio and investment strategy vis-a-vis your financial goals and objectives?

With the right advice, you can put prudent and long-term financial plans in place to achieve important life goals.

Plan your retirement

  • Have you planned your retirement savings and investments to create a secure retirement income?
  • Have you taken into account any family obligations like supporting ageing parents, children’s education or marriage?
  • Have you thought about relocating after retirement?
  • Have you planned for any unforeseen event / accident etc?

Here is what you can do:

  • Review your retirement goals and family obligations with your retirement advisor.
  • Continue to revisit your retirement goals and expectations, including when you plan to retire.
  • Talk to your spouse or family members about how you might handle unexpected events.
  • Discuss a retirement income strategy with a retirement advisor, including a withdrawal plan.

Have a question? Write to us at inquiry@principalindia.com.


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