Retirement Planning

WHY YOU MUST PREPARE FOR YOUR RETIREMENT NOW You hate it or you like it but retirement is not optional. You may choose not to study engineering, you may choose not to go on a particular vacation, you may also avoid going to a relative’s wedding, but you cannot avoid retirement. Keeping aside rare exceptions, almost all of us retire at some point in time if we live long enough. Here are some reasons why your retirement planning must begin now. Inflation After you know that retirement is inevitable if you live long enough, you should be worried about the next almost inevitable thing in countries like India – inflation. Most financial planners presume that the prices will go up by 6% each year over long-term. In other words, if your monthly household expenditure is Rs 50,000 today, you will need Rs 2.87 lakh to enjoy the same lifestyle after 30 years. Everything you want to do when you retire will be priced accordingly. Healthcare costs will be priced even steeper. “Life expectancy of human beings has gone up and it is expected to improve. That means longer retired life for each one of us and it translates into larger retirement corpus required,” points out Tanwir Alam, founder and CEO of Fincart.com. To ensure that you will get what you aspire for, you should start funding it now. Read more at www.starhealthdevarajan.com/news/600 for Insurance Related services U can always call 98401 77017 Devarajan. www.licdevarajan.com