You should plan for your retirement, the day you start earning. It may sound weird but it helps you in living a practical life. Seek the suggestions from Retirement Planning Advisory Services in India, and follow them. A disciplined step today lets you live a secure and comfortable tomorrow.
Tips and Tricks to have a Stable Life after Retirement:
- Make a habit to save atleast 10%to 20% of your income every month.
- EPF saves 12% of your salary if you have a fixed job. It is a good security for your future. But do not stop there. Make additional savings, fix an amount and stick to that.
- Invest in mutual funds. Choose the investment as per your income and age. Start your Retirement Planning Now else you are going to regret tomorrow.
- As your income grows, increase your investment. Do not limit yourself to fixed savings if you can save more. Start with some other SIP and automate the process by giving ECS access to your bank.
- Do not withdraw your EPF before you retire. It is a huge loss and premature withdrawal is taxable too.
- 50% of your increment every time should be a direct aid to your savings account. The other half can be used by you for enjoyment.
- In case you change the job, fill Form 13 and transfer the amount instead of withdrawing the amount.
- Make a calculation of your annual savings, save a minimum of 10 times of your annual expense.
- Save for retirement and take an education loan for your children. It will introduce the sense of responsibility and discipline in them. Do not withdraw your savings.
- Subscribe to a health insurance plan that covers you till an age of 70 to 75 years. It is difficult to get a beneficial plan when you grow old and have health issues.
Whenever you think of retirement, check your annual expense, annual income and annual savings. You yourself will have an idea, whatever you save is sufficient or you need to increase your savings. Work hard today to have a peaceful tomorrow.