Purchase a Retirement Plan that completes your unfulfilled dreams

Posted by joshmeth on April 18th, 2017

You have worked so hard all your life to fulfil your family’s needs and their desires. You have maintained a certain standard of living for them. Along the way you made some sacrifices because either work kept you very busy or your family’s needs were bigger than yours. Then one fine day comes retirement, the time when you left the company and the job field permanently. All of a sudden you have ample time for you to be with your family and do all those activities which you couldn’t do before.

But what if at this stage you are short of finances? Sure, you were given provident fund by your ex- employer, but it has been seen that PF isn’t enough to maintain the same lifestyle that you used to lead previously. Moreover after the age of 60, it is quite likely that you will have more medical needs than before. So then how will you achieve your unfulfilled dreams? This is why you need Retirement Planning.

To have another source of finance, the best way to go forward is to have a self- financed retirement plan. But the most important key to retire wealthy is to have a solid plan. You will need expert advice so that you can maximize your savings and retire comfortably. Also, when you start early you accumulate more portions of your salary or annuities for the retirement plan.

In retirement plans, you need to buy an annuity plan against a principal amount. Your annuity amount earns interest, which is paid out to you as pension while the principal amount remains intact. It is also to be noted that you save tax when you invest in a retirement plan because the premiums that you pay are eligible for tax benefit under Sections 80C/80CCC.  Also, the flat charges and annual fund management fees are very low and hence it makes the retirement plans very attractive.

There are different kinds of retirement plans depending upon the frequency of annuities that you want to pay, how often you want to receive your pension, amount of principal amount, span of payment of annuities and others. This is done to match different requirements and preferences of the customer.

Therefore, secure your future and invest in retirement plans. Don’t let your dreams die.