Retirement Planning
Retirement planning is an essential aspect of our lives. We all want to retire peacefully without any financial worries. And the good news is that it’s possible with the right investment strategy.
Combining SIP (Systematic Investment Plan) and SWP (Systematic Withdrawal Plan) can help you achieve a peaceful retirement life.
Start investing through SIP in mutual funds while you are earning to create a retirement corpus. During retirement, you can start withdrawing through SWP every month for Mutual Fund investment.
Call us to know about the suitable schemes for starting your SIP.
Do you wish to plan for your retirement? Consider these five things while planning?
1. Understand personal finances: Create a budget and understand in detail monthly expenses. It can
help you realize where you need to cut down and by how much, thereby creating room for retirement investing.
help you realize where you need to cut down and by how much, thereby creating room for retirement investing.
2. Reduce Debt: Having debt and paying interest on it, can absorb a huge amount of your income. Reducing debt should be a priority, as it can enable you to focus on investing for your retirement.
3. Create a plan: You need to decide on a reasonable retirement corpus to target, based on an estimate of expenses per month post-retirement, factoring for inflation and life expectancy. It requires doing some maths, for which you can take our help.
4. Start Early: Start investing as early as possible to get the power of compounding and reach your retirement target by investing a small amount on monthly basis.
5. Consider retirement funds: Investing in retirement funds dedicated to the purpose of investing for retirement can help you to stay disciplined and stop you from pre-mature withdrawal.
