4 Things to Follow for a Good Retirement Plan

Share on:

4 Things to Follow for a Good Retirement Plan

“Just because you’re old doesn’t mean you can’t get up and do something different.”

After decades of walking up to the alarm, sifting through heaps of paperwork and navigating rush hour traffic, you can see the bright lights of retirement at the end of the tunnel. However, just spotting the light is not enough, you need to work towards those golden moments.

The time to hang up your boots is just around the corner but that doesn’t mean you need to slow down or let go of the things you like. If you can iron out the knots in time for your retirement, then your golden years can be truly golden.

Here are 4 things you can do for a good retirement plan:

1. Visualise your last day at the office

Retirement is an emotional event. The transition from working to retired is a sentimental feeling and it is essential to visualise what you would like to do after you retire. Whether you want to travel with your family or sit in the park and gossip with your buddies, it all depends on what you do today. Starting early will give you more time to do what you really want.

2. Increase investment as your income grows

It is human nature to procrastinate and we all do our best to push things to that elusive tomorrow. Not many people keep updating their investments according to their retirement goals. Though inflation plays a role, increasing your investment as your income grows, will help to generate a larger corpus over the long-run. It’s time to turn your game up and match your investment with your income; think about all the trips you can take with the extra income!

3. Healthy and Wealthy!

For most to-be-retirees, medical expenses are one of the greatest concerns. Check your health care options before you retire. You don’t want to be stuck wondering whether you have enough money to foot the bill or not. Having a good insurance cover for critical illnesses as well is beneficial for you in the long-term. Additionally, giving your body a good dose of exercise and diet will add more happy years to your retired life.

4. Budget it

Keep a check on your expenses. One of the biggest problems for to-be-retirees is not to outlive their savings. Tomorrow’s retirees need to account for the increased cost of living and longevity. You want to do more than just sit around and sip on endless cups of coffees. Also, getting your money to the bank before you spend it all, will give you the opportunity to indulge in compounding and earn more on your savings.

Getting a head-start will let you slip into reality and bring your dream retired life to centre stage. Give your expenses a break and increase your savings and benefit in the long term. This may seem like a stretch but imagine the times you will be sipping your favourite drink at your favourite spot.

Happy Investing!

How to invest in index funds in 2019?


If you still have doubts, you can leave your queries related to your retirement plan in the comment section.

Replete Equities is an AMFI registered financial advisor which is known for its custom made retirement plans.

You can contact us on email at support@repleteequities.com or fill the contact form. Someone from our team will contact you as soon as possible.


Disclaimer

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to the availability and adequacy of distributable surplus. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.

Share on:

8+ Years working as a derivative trader, Option Writer, Blogger, Trader by passion, Keen Follower of Indian share market

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.