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  *Four Wrong Retirement Assumptions* Most of us work hard so that we can retire in a financially comfortable position. But interestingly, once we retire, it requires a tremendous shift in mindset, to move from aggressive saving, to eventually shift from savings to spending. Having said that, the entire exercise is based on a number of assumptions. Let's look at a few common ones. *Assumption 1: Retirement is a destination*.: All along retirement has been viewed as a destination, as an end-of-the-road milestone. Nothing could be farther from the truth. The road could be long and winding as the journey keeps unfolding. Rather than a destination, it should be viewed as a transition. We should realize that the concept of retirement is undergoing a fundamental change. Seldom do people just stop work and start drawing a pension. Earlier, it was the case of being shoved off the demographic cliff and being forced to leave the company, saying goodbye to the 9-to-5 lifest...

What is Max Life Smart Wealth Plan? At Max Life Insurance, we are aware of the importance of such life milestones. To help you safeguard your financial future with assured returns, we propose the Max Life Smart Wealth Plan (a Non-Linked, Non-Participating, Individual, Life Insurance Savings plan, UIN: 104N116V07). You can pursue your goals and achieve every milestone you set out to with the help of this plan. Who Should Invest in Max Life Smart Wealth Plan? Max Life Smart Wealth Plan is suitable for the following categories: 1) Salaried individuals 2) Self-employed individuals 3) People with dependents who seek a long-term financial plan 4) People who have less risk appetite 5) People who seek guaranteed returns on savings 6) People who look for dual benefits of life insurance and savings For your retirement, your children's schooling, your spouse's financial security while you're away, or any other financial objective, you can purchase the Max Life Smart Wealth Plan. Addit...

Start investments early Investing isn't a one-time call. It's a long method. Investment ought to begin at the start of one’s operating life, notwithstanding however little the number is. However one mustn't lose heart if he\she has not started investment until currently. At no matter stage of the life cycle you're and if you've got not started investment, do it now. Discipline One of the foremost crucial elements to the current journey of long investment is discipline. No matter your investment goal, it cannot be achieved while not regular, disciplined, and rigid habits of saving and investments. Having mentioned the quality rules of investment that area unit common to all or any people, investment portfolios and ensuant quality allocation depend on the life stages of investors. Rule of 100 We can take steering from the ‘Rule of 100’, a really well-liked thumb rule for quality allocation supported the life cycle of people. During this rule, one has got t...

If you own a business, you're seemingly to remain active in it for as long as you'll be able to. Not like company and government jobs wherever there's a group age until you'll be able to work, a business owner has no such limit. But not withstanding however you're concerning your business, there'll be a time after you feel that perhaps it's time to require the rear seat. Thus, retirement designing is as vital for a business owner because it is for a salaried individual. Early retirement designing can assist you retire free from monetary stress and perhaps even be after to one thing distinctive. Retirement and Pension Plans for Business Owners As a business owner, you will safeguard your retirement by investing sagely. Your savings should grow over the years. Investment within the following investments will assist you to produce a decent corpus that you simply will use to measure when you retire from your business. 1. Public Provident Fund (PP...

The standard retirement advice is save as much as you can, right from the start. But there is another aspect that you must look into – your lifestyle. Here’s a brief run down on both these aspects. Always look to increase the quantum of your savings. We talk of compounding, but there is an unfortunate reality which is the mathematics of it. If you had a couple of thousand rupees and you earn an extra 1% of returns, it may sound great, but the extra 1% of return on a few thousand rupees won’t get you far. It doesn't have a big impact because the account balance just isn't as big yet. But that extra 1% return on Rs 10 lakh is much more impressive. As you get closer and closer to retirement, that equation starts to flip around. Even a thousand or so every month towards getting a big nest egg doesn't really actually move the needle very much anymore. But if you've got crore in savings already, a 1% change in your returns could be a year or two worth of savings, all at...

*Four Wrong Retirement Assumptions* Most of us work hard so that we can retire in a financially comfortable position. But interestingly, once we retire, it requires a tremendous shift in mindset, to move from aggressive saving, to eventually shift from savings to spending. Having said that, the entire exercise is based on a number of assumptions. Let's look at a few common ones. *Assumption 1: Retirement is a destination*.: All along retirement has been viewed as a destination, as an end-of-the-road milestone. Nothing could be farther from the truth. The road could be long and winding as the journey keeps unfolding. Rather than a destination, it should be viewed as a transition. We should realize that the concept of retirement is undergoing a fundamental change. Seldom do people just stop work and start drawing a pension. Earlier, it was the case of being shoved off the demographic cliff and being forced to leave the company, saying goodbye to the 9-to-5 lifestyle. Today, ...

As suggested by its title, the article advocates that investors work backward. They should begin their plans upon entering the workforce, by specifying their desired income during retirement. Once that is known, and an asset allocation is specified, the required contribution rate can be calculated. This process is aspirational. That is, while Javier's model is fixed, providing investment returns, contribution amounts, and withdrawal rates with assurance, investors enjoy no such confidence. As young adults, they know neither what the financial markets will bring nor (yet) what income will meet their retirement needs. Their lives lie ahead of them. The point of the paper is to change the investor's mindset. Javier wishes to combat the standard practice of keeping one's head down, contributing to retirement accounts according to perceived ability, then looking up as retirement approaches and wondering what the accumulated assets will be able to afford. Better to know th...

Savings for retirement are important, but they are often ignored. There is plenty of time in it where some people ignore it by thought. At the same time, some people are satisfied that some of their salary goes to the Employees Provident Fund (EPF), but reliance on EPF contributions isn’t just right for retirement. There are three major columns of financial planning for retirement in any country. Here are these: First column: Public pension Second column: Professional retirement Third column: Private or personal allowance Those who are retirement funding need to understand these three. It should also know how this will affect their savings in retirement. First column – Public pension The first column meets the social insurance needs. It’s called a public pension, therefore. It’s used primarily to help the poor and the old. Such pension schemes are entirely run by the government. This is an example of the Old Age Pension Scheme for Indira Gandhi...