Retirement Planning — The Sooner The Better

Retirement Planning | Source: The New York Times

“Doing what you want” is easy to say, but freedom of any kind is hard work.

Retirement Planning is a must do, and the sooner the better. There are five basics that all of us can do in embarking on a journey towards a more secured retirement.

• (Read in-detail: Choose your Retirement Planning metrics wisely)

Old Man Enjoying His Retirement Days | Source: dew

1. Calculate What Retirement Is:
   Plan your savings & calculate the future expenditure which will be incurred at the time you retire with Retirement Planning calculator. Miscalculating the retirement phase creates the risk of running out of corpus.
2. Remember The Cost of Delay:
   The best time to start saving for retirement is not when you are about to retire, but when you receive your first paycheck.
3. Make The Nest Egg Comfortable:
   Retirement years are not the right time to be stressed; life before would have given you enough of that! It is important to accumulate enough to comfortably go through this phase.
4. Remember Expenses Rise:
   The impact of inflation is hard to sink in. It adds to cost of living each year, and by the time we hit retirement, we have to spend much, much more than we do today to maintain the current lifestyle.
5. Don’t Forget Asset Allocation:
   Asset allocation is often missed out while planning for retirement. What is right mix for your portfolio? It depends on when you start.

Never forget that retirement is journey and this journey is incomplete without the support of a financial advisor.

While retirement planning is not complex, it is nuanced, and involves a lot of variables. It requires constant monitoring, which a professional can handle well.

So, what are you waiting for, consult to one of the best certified financial advisor, invest in various mutual funds online and plan your retirement today!