Key Points to Proper Retirement Planning :
It is never too early to start saving. Savings should essentially start as soon as you start earning
Retirement planning should form an integral part of your financial planning. Even though retirement seems far out, planning for it should be done early on.
Financial planning should be long-term in nature. One should ignore short-term market movements and volatility.
Focus on your long-term goals and utilize the investment avenues most suited to your risk/return appetite.
Retirement planning has three major stages: the accumulation stage, the preservation stage, and the distribution stage.
Succession and legacy planning forms an integral part of retirement planning.
Mutual funds are a good way of investing – however, investors should be cognizant of the impact of expense ratios on returns and choose the funds wisely.
Systematic Investment Plans (SIPs) are a great way to invest in equity mutual funds. They inculcate discipline and help investors take advantage of the power of compounding and rupee cost averaging.
Individuals have unique needs – thus, every individual will have a unique financial plan that will reflect his personal goals, aspirations, return requirements and risk profile.
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