Today's Top Gainer
Note:Top Gainer - Nifty 50 More
Around 88% of India’s total labour force belongs to the unorganized sector, in which the workers do not have any formal provision of getting regular pension on retirement. Education, investment, career, marriage, and retirement are the most important decisions of our lives. Some financial advisers are of the view that investors do not really understand or address risk in a portfolio, especially when it comes to saving for retirement. So, build a retirement corpus to stay away from all worries, else you may land yourself into a mess.
The below mentioned checklist will help you enjoy a peaceful post-retirement life.
Today, the majority of retirees do not want to spend their retirement like an extended vacation. So, they use this period to start their own business and travel to different places. Some people are even ready to work part-time after their retirement, while other companies hire their old employees back as consultants. But, there is a huge distance between expectations and reality. Hence, be proactive and try and identify opportunities well ahead of time.
Generally, people have a tendency to rely on their employer’s group health insurance coverage and sign up for an individual mediclaim policy along with various add-on covers at the age of 50. It is a smart decision if you obtain your own insurance early in life to save on premium.
Flow of income is the major difference between employment and retirement phases. One must have enough assets to live a comfortable post-retirement life. Thus, having a clear picture of your financial assets to check whether you have adequate resources to support yourself for at least 20 years is essential. It is advisable to turn your assets into a stream of income with help of a financial planner.