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Retirement Planning

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Retirement Planning

Retirement planning means having sufficient funds to provide you with a comfortable lifestyle when you retire. Most people face three questions when they start thinking of retirement.

  • Why do I need Retirement Planning?
  • How much money do I need to have to retire?
  • When can I start my retirement planning?

As retirement planning advisors for more than three decades, we assist people in planning how to build up enough retirement funds over a period to enjoy a hassle-free retirement. We have proven asset-allocation strategies that will help you get higher ‘inflation-adjusted’ returns on your existing assets. We also track and re-balance them to protect it from the volatility of the markets.

Why do you need retirement planning?

1. Inflation

Inflation is the biggest thief of your money, yes, you read it right. Every year value of your money reduces. The increase in the price of commodities is a fact. It happens little by little each year and has a massive impact on your earnings over a few years. You may need a good pension plan to prepare for inflation. If you have taken the right measures, you won’t need to worry about high prices in your golden years.

2. No state-sponsored pension

If you are a private employee, your need for proper retirement planning is much higher than those working in the government sector. There are no sponsored pension programs which focus on retirement planning for people working in the private sector. Even if in some cases there may be present, the sum is not even sufficient enough for daily requirement of even one person. So, it is crucial to start planning for your retirement as soon as you start earning. The sooner, the better.

3. High Medical Expenses

The decline in one’s health is inevitable as we move across an old age. Correct retirement planning ensures that all your medical expenses and other needs are taken care of pre-hand. Studies suggest that medical bills become four times what they were ten years ago, increasing with high inflation of 14%-15% per annum. Doing the correct retirement planning will prevent you from burning your pockets at a time when you’ll need it the most.

How much money do I need to have to retire?

The most important question that an individual must ask himself is- how much money should he/she have to retire. It could be is highly subjective. We suggest you consult a professional retirement planning advisor as this one decision can make or break your dreams of happy retirement. It largely depends on your needs. You have to pre-decide all expenses do you want to cover. Housing expenses, medical expenses, Children marriage, foreign tours, visit exotic locations, world tour & such other goals could be what one may want after retirement. Professionals suggest that one may need around 70-80% of your current monthly salary to sustain well in your future. So, it is always advisable to consult your retirement planning advisor as he will be able to guide you through various requirements.

When can I start my retirement planning?

Just like any other investment planning, you can and should start planning for it since the day you realise the need for such planning. Being a reputable retirement planning company, we suggest our clients should begin as soon as possible. That gives them more time for the proper planning and accumulation of wealth. A well-built retirement plan has 3 phases investment phase, accumulation phase and withdrawal phase.

Investment Phase

Investment is the initial phase where the investor sets his investment objectives and starts investing in the fund. Here, you save money out of your pockets. One usually starts this from his 30’s till his 50’s. Although being an experienced advisor, we think that the best time to start retirement planning is in your 20’s.

Accumulation Phase

After investing, it all gets accumulated over time. You get the interest over interest leading to a large corpus of wealth over time. It is also known as the snowball effect where your money keeps getting returns. Further, those returns are also incorporated to generate more returns.

Withdrawal Phase

In this phase, you harvest the money you have been saving for all your working life. You had grown the seed now it’s the time to have the fruits. Retirement planning is done with the aim that even if you get no salary, you have the monthly income to support you and your spouse in the golden years of your life.

As one comes near to the retirement age, one should always make sure that all the corpus accumulated over the years shall slowly and casually move to secured from all the risky ones. This way, the investor can ensure that the entire corpus is safe from market volatility. Now, it is time to milk on the sum collected so far. You can enjoy the saving in the form of monthly income source or withdrawals.

  • The question isn’t at what age I want to retire, it’s at what income.
  • Don’t simply retire from something; have something to retire to.
  • Retirement: That’s when you return from work one day and say, “Hi, Honey, I’m home — forever.
  • Don’t act your age in retirement. Act like the inner young person you have always been.