It’s never too late to save for your retirement Though there is enough information around us to start saving early for retirement during our career, many of us give thought and attention to it only when we are nearing the 50’s which is like wanting to win the race during the last mile of it. Chances are then 50-50, where we may either win or wind up somewhere in the middle of what we wished. Here are a few tips giving you hints on some smart moves, so there is…
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How to retire early? Start planning early
Early retirement is an alluring dream, but few are able to realize it as they start planning for it too late. With an increasing number of individuals earning salaries that can lead to significant savings, combined with the pressures of demanding professional commitments, many mid-career professionals are exploring early or partial retirement, say financial advisers. However, despite early retirement being a rising aspiration, the number of individuals who actually realise it, are very few. “Everyone is talking about it, but no one is actually able to do that,” said Gaurav Mashruwala,…
Read MoreWhy ignoring to plan for retirement can be financially damaging
With rising cost of living and increasing life expectancy, the need to plan for one’s golden years is gaining ground. Read on to find out how to retire rich. We all like to plan for the future. From planning the day ahead to planning a vacation, it’s always a good thing to plan for something well in advance. But, when it comes to planning for one’s retirement, not many show the same inclination. Hardly surprising, therefore, that a retirement survey conducted earlier showed that nearly 78 percent of Indians had…
Read MoreNPS for tax savings & good retirement planning
The national pension scheme is a great way to plan retirement as tough partial withdrawal norms help save the final corpus The national pension scheme (NPS), as it is popularly referred to, is a government-backed retirement scheme, which is available to all Indians, aged 18 to 60. NPS has two separate schemes under its general plan, which is open to the general public across the country. The two schemes are named tier I and tier II schemes. While the tier I scheme is a mandatory plan. Only on possession of…
Read MoreSole breadwinner: Here is how you should manage your money
Here are a few pointers to make wise investments which will help you protect the financial future of your family. Being a sole breadwinner is a responsibility which many of us face. It can at time be daunting, and the future may sometimes seem intimidating. We may be assailed with self-doubts and if we are doing enough to secure our family’s financial future. Here are a few pointers to make wise investments which will help you protect the financial future of your family: Save diligently: No kidding this. You should…
Read MoreSenior Citizens guide to Tax Exemptions: The best is always kept for the last days!
Senior Citizens in India face a number of challenges today. Apart from deteriorating health, non-productivity, isolation and boredom, worrying about finances tops their list. Unlike parents in developed nations like the United States, parents in India have their children live with them for a much longer time and completely finance their education and wedding expenses. It is perceived as a duty of the parent in the Indian social set-up. Financially independent Senior citizens face far lesser issues than the dependent ones. At 60, the salaried working class go through major…
Read MoreFinancial planning: 5 best retirement plans to gift your dad this Father’s Day
Fathers are special and this Father’s Day while you are doing your best to make it memorable for him, how about doing something which reflects your love and concern. Fathers are special and this Father’s Day while you are doing your best to make it memorable for him, how about doing something which reflects your love and concern. Every father earns, saves, and invests for the education, wedding, and other needs of children. If you are keen to ensure his post-retirement years are hassle free, then these five options could be of help…
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