investment planning services in delhi

Save for retirement

 This may seem like a goal that’s too far in the future, or not important in the current scheme of things. But that’s really not true.

 “We have seen that parents tend to depend on their children after retirement, especially single parents. But the reality is that everyone wants space and financial independence,” said Sen.

 The first step towards retirement planning is to know your risk appetite and to find out how much you need post-retirement; else, it is difficult to stay on track. You can seek advice from an adviser to know the exact expense requirement after factoring in inflation. “If you are in the accumulation phase (age 30-35 years), it makes sense to go ahead with a good amount of exposure in equity. For retirement planning, you need to have the right asset allocation, to keep track of performance, and to rebalance the portfolio whenever required,” said Sudipto Roy, business head, Principal Retirement Advisors.

 What are the products that one should look at? “You can look at investing in mutual funds investment planning services in delhi such as income funds and exchange-traded funds. Mandatory investments such as provident fund or Public Provident Fund are also a good way to build a retirement corpus considering you get a tax benefit too. But most of these are debt-focused, so it is important to ensure the right equity exposure,” said Roy.

 As you get closer to your retirement age, reduce your exposure to equity and gradually increase the exposure to debt.

 The earlier you start investing, the lesser you would have to save to provide for your retirement.