Imagine yourself, years from now, living a life of leisure and comfort. You travel the world, pursue hobbies long neglected, and spend quality time with loved ones. This idyllic picture of retirement isn’t a pipe dream but an achievable reality with thoughtful planning. However, let’s face it: In today’s fast-paced world, retirement planning often takes a backseat. Yet, the importance of securing your financial future cannot be overstated. In India, unlike some Western countries, there’s no single, comprehensive social security system to guarantee income after retirement. The onus falls on individuals to create their own retirement corpus.
Need to Plan for Retirement
Here’s a reality check: Our earning capacity diminishes as we age. Relying solely on your children or traditional pension plans might not be enough to maintain your desired lifestyle after retirement. Medical expenses tend to rise with age, and inflation can significantly erode the purchasing power of your savings. Early and effective retirement planning helps bridge this gap, ensuring financial independence and peace of mind in your golden years.
The Power of Two: Mutual Funds and NPS
Now, let’s delve into the two prominent instruments that can be leveraged for retirement planning in India – mutual fund (MF) schemes and the National Pension System (NPS). There are also other instruments such as Public Provident Fund (PPF) and gratuity payment that can be utilised for retirement planning. However, we will analyse only MF and NPS in this article.
Mutual Fund Schemes for Retirement
Bu hikaye Dalal Street Investment Journal dergisinin June 17, 2024 sayısından alınmıştır.
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Bu hikaye Dalal Street Investment Journal dergisinin June 17, 2024 sayısından alınmıştır.
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