Retirement Planning Steps

Retirement Planning Steps

31  August 2022

You can start planning for retirement at any time, starting early is more beneficial.

Decide Retirement Age

Step 1

It may differ from person to person. In India, the average retirement age is 60.

To peacefully retire, Start early.

Step 2

You can benefit from the power of compounding as you have a number of years on hand.

Calculate your retirement fund

Step 3

Retirement fund is  money you will need after you retire in order to cover your bills, maintain your standard of living.

Calculate the future value of savings

Step 4

Investors can make wise investment choices based on their future needs by knowing the future value.

Reduce unnecessary spending

Step 5

Reducing some of your less necessary spending will help you save more for retirement.

Plan & build ideal portfolio

Step 6

Your age and risk level capacity is used to calculate your standard allocation to each asset type.

Track & Review Plan

Step 7

To make sure you are on track to reach your goals, you should routinely review your retirement plan

One of the things you need to start doing now is retirement planning, in order to thank yourself afterwards. Those few may come to regret it in the future.