Financial planning: For old times’ sake

Jan 28 2014, 09:31 IST
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Retirement planning is a crucial part of financial planning that is gaining prominence today on the back of increased life expectancy and rising inflation. Retirement planning is a crucial part of financial planning that is gaining prominence today on the back of increased life expectancy and rising inflation.
SummaryTo make the golden years unforgettable, you must have a sound retirement plan in place. A ready reckoner.

you can optimise on some of them after retirement

* Reconsider your retirement age. See if you can work beyond the retirement age of 58 years to

boost your income

* Evaluate all sources of income: You can invest money in bonds or fixed deposits, which give a regular payout. Or, you can build a regular income from a second home in the form of rental income

* Review your other financial goals. See if you can work around saving more for retirement. For example, instead of funding your child’s education completely, you can partly fund it and ask your child to take a loan for remaining amount

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