PLAN WELL FOR YOUR RETIREMENT

While planning for your retirement years, make sure you invest in some property
Arjun is a 40-yearold engineer working with a private firm. He couldn't save much over the past few years. Arjun is worried about his post-retirement years. Retirement planning is about preparing for a financiallycomfortable and independent life after 60. Will he be able to arrange for a regular stream of income to meet financial needs in the sunset years? Arjun is wondering if he should invest in property as a part of his retirement plan?
RETIREMENT PLANNING
In simple terms, it is setting aside money to be spent after retirement. A good retirement plan ensures that your monthly inflows will continue and you enjoy a comfortable lifestyle, even when you are no longer working.
NEED FOR PLANNING
Not long ago, the concept of retirement planning was unheard of, as the son took care of his aging parents. But with the culture of joint families disappearing, it is not wise for people nearing retirement to ignore their future economic needs. People should save as much as possible for your retirement years. However, factor in inflation when planning for retirement.
THE INVESTMENT OPTIONS
Investing in market-linked plans could provide you higher returns. Start saving early for financiallycomfortable retirement years. Systematically invest a fixed amount every month. You can benefit from the power of compounding. The most common options are pension products from insurance companies, mutual funds, post office investments and PPF.
REAL ESTATE
Investment in a house not only appreciates with time, but also allows you to enjoy income tax benefits on repayment of the home loan. Retirement planning spans over a long term. With inflation looming large, it is essential that the investments yield decent returns that beat inflation.
Courtesy:- ET Realty dt:- 22-Jan-2010