Retirement planning iNvest in birla sunlife freedom 58 to secure tomorrow!!

Our Retirement Planning Service involves: Computing that amount that would be required post- retirement. Building your Retirement Corpus using Systematic Investment Plans (SIPs) and other long-term growth orient products Ensuring adequate post-retirement income through safe investments.

Plan for A Worry Free Retirement Retirement planning means making sure you will have enough money to live on after retiring from work. Should be the best period of your life, when you can literally sit back and relax. To achieve a hassle-free retired life, you need to make prudent investment decisions during your working life

Why is it important? Planning for retirement is as important as planning your career and marriage. Compulsory savings in provident fund through both employee and employer. It may not be enough to support you throughout your retirement.

Importance continued….. Life takes its own course and from the poorest to the wealthiest, no one gets spared. "Everyone grows older". We get older every day, without realizing. However, we assume that old age is never going to touch us. The future depends to a great extent on the choices you make today. Right decisions with the help of proper planning, taken at the right time will assure smile and success at the time of retirement.

Reasons for the working individuals to secure their future emergence Reasons for the working individuals to secure their future emergence Nuclear families and its attendant insecurity. Increasing uncertainties in personal and professional life. The growing trends of seeking early retirement and rising health risks are among few important risks. Falling interest rates and the sustained increase in the cost of living.

How to Plan for Your Retirement??? If you are young, retirement may be the last thing on your mind. But if you think you have a long way to go for to plan for retirement, think again. It is never too early to prepare for retirement, especially if you want to maintain the same standard of living that you would have got accustomed to by then.

Let us take a hypothetical example Let's assume that you are a 35 year old, earning Rs.3 lakh per annum. Your salary grows at 5% per annum and you plan to retire after 25 years. Under these circumstances, assuming your post- retirement requirement would be 60% of your last annual income (Rs.10 lakh approx). You would need about Rs.6 lakh per annum after retirement. To achieve this, you need a retirement corpus of Rs.75 lakh assuming you earn a return of 5% per annum over a period of 20 years. To meet this goal, you would have to invest more than Rs.9,000 per month at 7% per annum for the next 25 years. Inflation and tax implications have not been considered for simplicity.

Steps for making Retirement a Success. Attaining financial independence after retirement will not be just a dream if the following steps are followed with steady discipline, perseverance and if smart investment strategies.

Start saving early The key to a financially independent future is "sooner the better". Cautious investors not only save, they save early and regularly.. The catch is to make the power of compounding work one's benefit.

Retirement should be your top priority Retirement should be kept as a top priority because; if one does not keep it at the top one might end up depending on one's children, which probably no one would relish.

Create a Retirement Plan Develop a plan for saving based on your requirements at the time of retirement. The goals you keep for saving depend on your lifestyle. But you will need at least about 66% of your pre- retirement income to maintain your standard of living when you stop working.

Understand your pension plan If your employer offers on pension plan, understand carefully your benefit level, financial stability of plan and the vesting period. Use retirement plans even if you already have enough money. With retirement plans your money grows in a tax efficient manner and compounding interest over time makes it one of the best investment options.

Balance your risk tolerance and your investment strategy Evaluate your risk profile and then balance your investment strategy to invest in various avenues to get the most out of your retirement money keeping your risk profile unhampered.

Diversify your investments & allocate your assets carefully Depending on your work profile divide your savings into equity, bonds, Mutual Funds, and other investment avenues. Don't invest too heavily in one sector or one company, since the risk associated with putting all your eggs in one basket is indeed very high.

Save and Invest Regularly Saving and investing regularly makes a big difference at the time of retirement. Investing at regular intervals builds your retirement fund over time and helps you to minimize risk and gives a tension free retirement-a time to pursue your hobbies, fulfill your dreams and passions.

Become a Saver, Wise Spender and better Investor