Articles

Retirement Planning in India

by Abhjeet Kumar Seo Consultant

Contingency requirements during old age are largely unanticipated. Research shows that most working people in India feel that since their accumulated savings would be sufficient to take care of their post-retirement needs, a targeted retirement plan is a misnomer. What they forget is that in the absence of a social security net in India, only a retirement plan can guarantee financial independence in their sunset years. Here is a why you should plan for your retirement in India:

 

Rise of nuclear families - The joint family system in urban India is crumbling, giving way to more nuclear families. Since young people are opting to strike out on their own, parents are under tremendous pressure to fend for themselves after retirement.

 

 

Increased life expectancy – With increased life expectancy resulting from better healthcare facilities and advances in medical science, you will live longer post-retirement than your parents. It is therefore important to plan for a steady income stream after retirement that can sustain you throughout your life.

Rising Costs – Till not too long ago, retirees could survive on a modest income. However, in the present economic scenario, the cost of living has gone through the roof. With the cost of living rising incessantly, you can envisage what the future holds. Only a proper retirement plan can provide a steady income every month to shield you from rising costs.

 

Retirement planning is a significant stage of personal financial planning and largely depends on the portfolio of savings and investments. Therefore you need to prepare well in advance to cater to these needs. An organized and regular investment approach is required to build the nest egg for future financial security and facilitate you to retain your current lifestyle as well as pay for crucial medical expenses in your old age.

 

Retirement Planning Simplified

 

Retirement Planning can be challenging for many people, but with Principal Retirement Advisors you have access to retirement calculators and products with the flexibility and options to achieve your long-term financial goals. We offer the strength; stability and personal advice for our clients take informed decisions. We recognize the importance of understanding your unique situation and goals and provide different options for retirement planning.

 

With over 130 years of experience in providing retirement planning services, The Principal Financial Group® (The Principal®) has the breadth and depth of expertise to provide customized products and services to suit every individual’s needs. A broad range of investment funds – from conservative low-risk to aggressive high-risk funds – managed by professional and respected investment managers are offered under our retirement product suite along with retirement calculator tools.

In a country such as India, which offers low levels of social security to the elderly, only retirement plans can guard you against destitution since they provide a stable stream of income till the end of your life while living at standards you are accustomed to.

To help you continue rejoicing your life post-retirement to the fullest, Principal Retirement Advisers presents various Retirement Calculators that assists you plan for your retirement days better! With our Retirement Calculators you remain in charge of your retirement income.

 

Click here for Retirement Calculator

 

Retirement planning is an ongoing process which requires dedication, patience and consistency on part of investors to harvest rich dividends in your sunset years. Consumers now have access to various products that allow them to plan for their retirement. While the knowledge for retirement planning in India is rising, most of us delay investing for it. Starting retirement planning at an early age can considerably augment your dream to achieve financial freedom in your old age.


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About Abhjeet Kumar Advanced   Seo Consultant

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Joined APSense since, May 14th, 2013, From New Delhi, India.

Created on Dec 31st 1969 18:00. Viewed 0 times.

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