Everyone is busy living and enjoying their life until their retirements. The majority of people remain lazy and not planning their life till the age of 60. They do not know or realize that actual life starts after retirement only. Your new life begins after retirement where you do not have to worry about going to your work. You have the full time to enjoy life with your family & friends. You have full-time spent with your family, fulfill all your unfulfilled desires, travel across the world, work on your interests and hobbies & many more.
Do you think it is possible without the retirement corpus? You require a big corpus after your retirement for your living and to enjoy the above things. Considering the inflation, the value of this corpus will be 8 to 10 times higher after your retirement compares to your current cost of living.
Some Interesting Facts About Retirement Planning
- We are expected to be alive close to 85 years due to rapid progress in medical science and facilities.
- 87% of the population has no committed savings towards their Retirement goal.
- 93% of them have no clue as to what should be the required Retirement corpus
- 91% save through saving plans that can no way generate more than 8% per annum returns
- Less than 7% of the Indians are financially independent post-retirement! Below bitter truth and facts observed in one of the Serve,
- 7 out of 10 Indians expect their children to support them in their retirement.
- 42% elders felt disrespected
- 37.8% verbally abused
- 28.2% neglect, economics abuse
- Sons and daughter-in-law are major abusers
- 53.4% of elders took no actions when faced with abuse
- The main context of abuse was “Property” (35.4%)
- 72% of people felt that regular income is the only way to escape abuse.
What thoughts coming into your mind after going through the above facts? Are you fall under the above category or have you planned your retirement? If not plan it today itself.
People always have a question in their minds that what is the right time to start investing for retirement? And the answer is day one from when you start earning. When we talk about retirement planning, people have below reactions as per their age groups. And one day they feel very regretted and guilt that why they didn’t start early, some of their reactions at various ages are as below,
Age 30 — Are you crazy?
Age 40 — My father may need your help
Age 50- Now my priority is children’s Higher education and marriage
Age 60- If we met only 20 years before
In whichever age group you are right now. Take your action today towards your retirement planning.
The best day is today to take action and start your Financial Planning.
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Wishing you a healthy and wealthy retirement Life.