What is the Process of Retirement Planning? Where Get Retirement Planning in Pitampura, Rohini?
Retirement Planning is the process of ensuring that there are sufficient financial resources to provide a desired lifestyle in the retirement process. Get expert suggestion for Retirement Planning in Pitampura, Rohini to secure your life after retirement.
Retirement Planning is the process of ensuring that there are sufficient financial resources to provide a desired lifestyle in the retirement process.
Importance of Retirement Planning
Retirement Planning is a key element of Financial Planning.
Retirement Planning is a long-term process and it requires systematic accumulation of funds.
Retirement planning detentions the very essence of financial planning. It is forward-looking, has an impression on current as well as the future standard of living and if successful, it can give you a contented life after retirement. Nowadays Retirement Planning most important to everyone. Khushi finance offered best Retirement Planning in Rohini, Pitampura. It is a lifelong and disciplined process of planning, building and managing funds.
The process of Retirement Planning
1. How much does an individual have today?
• Assessing the net worth of an individual i.e. the difference between Assets & Liabilities on a specific date.
• Assessment of Net Worth is a continuous process, so the review is required at least once a year.
• The goal of Retirement Planning is to ensure that the Net Worth is sufficient on the retirement date to provide for retirement needs.
2. How much would be required at the time of retirement?
Normally, after retirement 70 to 80% of the inflation-adjusted cost is required to maintain pre-retirement life standard.
3. Deciding on the roadmap.
• After analyzing the current position and future requirement, it is time to build the strategy to achieve the goal, the retirement corpus.
• It requires putting savings and investment strategy in place to meet objective while considering various constraints.