I am in early 40’s and planning for a perfect retirement investment plan. Can anyone please give me some ideas on the best retirement plans to become financially independent? what are the beneficiary pension plans? I want to invest for my retirement keeping in mind both present and future circumstances. I want to be more conservative regarding my retirement plan. please tell me some sound plans. Thank you.
What are the best retirement plans?
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Himasree
A perfect retirement plan will help you to move towards a safe, secure and fun retirement. Retirement plan starts with initial ground work of an effective retirement strategy. It means you need to look at the types of retirement accounts that can help you raise the money to fund your future.
We should concentrate on two main aspects before planning for retirement. One is Life insurance policy , health insurance policy second is standard monthly income. There are many banks and insurance companies providing these policies. In any country, retirement planning is becoming a pressing issue. My father got retired last year and he planned his retirement in such a way that he is financially independent and secure leading a happy life after retirement. I had a discussion with him so that his ideas and plans may help for my future retirement plan. To attain standard monthly income after retirement we can invest on mutual funds, PF etc. As you are in early 40’s it is right time for you to have a sound retirement plan.
Consider the below key concepts before you start a retirement plan:
Pension plan: There are two main types of pension plans. The defined benefit plan and the defined contribution plan.
You can consult an financial advisor and go for a beneficial plan keeping all aspects in mind. If you are very close to retirement age and “Short on savings” you would better take drastic action to catchup while you are still employed and generating earnings. This was said by a chief investment officer.
Retirement refers to the time of life where one choose to permanently leave the workforce behind. If you consider all the points then no doubt you are on the track to retire successfully. “So get busy now”. Thank you.
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