Indian youth which is estimated to be <35 years of age and accounts for almost 65% of India's today population is a big asset to India's growth story in future but they need to have a good paying job today and need good and proper retirement planning for their retirement which will happen for this entire population 25-35 years from now.
India don't offer any social security or health care security to its citizens today and have limited Government jobs too. Their also in Government job now pension rules are changed in term of contributions for joinees after October 2010. Most of the aspiring skillful Indian youth today is either in Private jobs or self employees and need the good and proper retirement planning to be done immediately.
I'm listing few points which each Indian should do immediately for a retirement planning to create a proper and fitting retirement plan for wealthy financially free retirement with lavish and luxurious life style you maintain today or even better you aspire than what you have today.
1- Hire and engage a Financial planner / advisor
2- Discuss your Human Life Value, Health Insurance needed amount and retirement plan and aspirations with your Financial planner / advisor
4- Estimate the age at which you want to retire easily and comfortably with your spouse
3- Estimate the value / amount / income if you start getting today you can take a call to retire immediately with your spouse and with no other responsibility to fulfill any further
4- Estimate the average inflation economy will see in years left with you to retire, estimate your's and your's spouse life expectancy after you retire and estimate risk free Return On Investments on your retirement corpus at point of your retirement till your life expectancy
5- Start early in your age to contribute towards retirement in right products and right asset allocation to achieve your worked out retirement corpus by your Financial planner / advisor
6- Invest in regular intervals for longer period of times for higher compounding returns in right products and in right asset allocations as decided between you and your Financial planner / advisor
7- Some good products available in India for retirement planning plans asset allocation are PFRDA-NPS, Employee Provident Fund contributions, PPF savings, Bank R.Ds, Lumpsum or SIP investments in Mutual Fund Equity or Debt or Balance Funds, Lumpsum or SIP investments in Mutual Funds retirement plans, Life Insurance ULIPs and Retirement plans etc.
8- Change your savings formula from Monthly Income-Monthly Expenses= Monthly Savings
to
Monthly Income - Monthly Savings = Monthly Expenses
9- Review and your re-balance your asset allocation & retirement portfolio every six months or every year once with your Financial planner / advisor
10- Try to invest with minimising risk and maximising return strategies with help of your Financial planner / advisor so that you achieve your retirement corpus a little before your decided time and you get accurately the value you want as retirement corpus for your better comfortable retirement.
Start today without a any delay to plan your retirement corpus and start investing as soon as possible.
Manish K Pandey
Fern Wealth Advisors Private Limited
Navi Mumbai'
Email - fernwealthadvisors@gmail,com
# +91-9830040603
India don't offer any social security or health care security to its citizens today and have limited Government jobs too. Their also in Government job now pension rules are changed in term of contributions for joinees after October 2010. Most of the aspiring skillful Indian youth today is either in Private jobs or self employees and need the good and proper retirement planning to be done immediately.
I'm listing few points which each Indian should do immediately for a retirement planning to create a proper and fitting retirement plan for wealthy financially free retirement with lavish and luxurious life style you maintain today or even better you aspire than what you have today.
1- Hire and engage a Financial planner / advisor
2- Discuss your Human Life Value, Health Insurance needed amount and retirement plan and aspirations with your Financial planner / advisor
4- Estimate the age at which you want to retire easily and comfortably with your spouse
3- Estimate the value / amount / income if you start getting today you can take a call to retire immediately with your spouse and with no other responsibility to fulfill any further
4- Estimate the average inflation economy will see in years left with you to retire, estimate your's and your's spouse life expectancy after you retire and estimate risk free Return On Investments on your retirement corpus at point of your retirement till your life expectancy
5- Start early in your age to contribute towards retirement in right products and right asset allocation to achieve your worked out retirement corpus by your Financial planner / advisor
6- Invest in regular intervals for longer period of times for higher compounding returns in right products and in right asset allocations as decided between you and your Financial planner / advisor
7- Some good products available in India for retirement planning plans asset allocation are PFRDA-NPS, Employee Provident Fund contributions, PPF savings, Bank R.Ds, Lumpsum or SIP investments in Mutual Fund Equity or Debt or Balance Funds, Lumpsum or SIP investments in Mutual Funds retirement plans, Life Insurance ULIPs and Retirement plans etc.
8- Change your savings formula from Monthly Income-Monthly Expenses= Monthly Savings
to
Monthly Income - Monthly Savings = Monthly Expenses
9- Review and your re-balance your asset allocation & retirement portfolio every six months or every year once with your Financial planner / advisor
10- Try to invest with minimising risk and maximising return strategies with help of your Financial planner / advisor so that you achieve your retirement corpus a little before your decided time and you get accurately the value you want as retirement corpus for your better comfortable retirement.
Start today without a any delay to plan your retirement corpus and start investing as soon as possible.
Manish K Pandey
Fern Wealth Advisors Private Limited
Navi Mumbai'
Email - fernwealthadvisors@gmail,com
# +91-9830040603
Very nice article in very concise manner !!!
ReplyDeleteNice blog post. As many people don't understand why they need life insurance, when they should buy it or what type of policy would best meet their needs. I really think that this blog post would help them while retirement planning.
ReplyDelete