There's a popular saying, "Retirement is when you
stop living at work and start working at living." Retirement is fun
only if you have money to enjoy it. Otherwise, it can be a nightmare. How will
you spend days after days without income? It's difficult to get a job in old
age and why would you want to put in hard work, after you are 60?
Actually, it's really simple. You have to invest money when
you are working, to enjoy retirement. There are plenty of investments for
retirement, but you have to choose the right investment. An investment which
meets your retirement goals is the right investment.
Want to know more on retirement planning?
We at IndianMoney Complaints will make it
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Why must you plan for retirement? It's simple.
Inflation, the general rise in the prices of goods and services each year, eats
up most of what you earn. If you are struggling to pay bills today, how will
you survive retirement?
1. Invest in NPS for retirement
National Pension Scheme popularly called NPS encourages
you to save and invest across your working life for retirement. Let's say you
invest in NPS at the age of 30 and stay invested till 60. NPS allows you to
invest up to 50% in equity, giving you an excellent chance to get sufficient
money at retirement.
NPS is very good if you want to save for retirement, but are
not comfortable making investment decisions.
NPS offers you 2 choices:
1. Active choice: You invest up to a maximum of 50% in
equities and the rest in Corporate Bonds and Government Securities.
2. Auto choice: If you are not comfortable making investment
decisions, pick the auto choice. Allocation is made on the basis of a
predetermined formula depending on your age. Investment is in a mix of
equities, Corporate Bonds and Government Securities.
Withdrawal: as per Indian Money Company you can
withdraw 60% of the accumulated amount on retirement at the age of 60. The
remaining 40% must be compulsorily invested in an annuity plan. The annuity
plan gives you pension after retirement.
NPS encourages you to save for retirement and get a
regular income after retirement.
Read more: Financial
Plans for Retirement Benefits
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