Survey suggests majority of Indians prefer to be self-dependent in post-retirement years. With life expectancy rates moving up (thanks to improvement in healthcare facilities and overall improvement in lifestyle), the post-retirement phase is getting increasingly longer. And, therefore, retirement planning is also becoming increasingly important by the day. At present, India may be one of the youngest countries in the world, but by 2050, India will have a large graying population.
Traditionally, we Indians do not plan for retirement. It is the other goals like owning our own house, providing a good education to our children and arranging for a lavish marriage,especially a daughter’s marriage that take precedence.
The retired life these days is not about a reclining chair, books and watching sunrises and sunsets. Investment is key to financial independence. One of the best things you can invest on for your retirement is investing on things which will limit your expenses once you retire.
You can’t get somewhere if you don’t know where you’re going. Make your goals realistic and understand the steps you need to take to get there.
If one does not plan for these late priorities and liabilities well in advance, one cannot be free of financial tensions, even after one is off his or her regular 10-to-5 job.And who doesn’t want to live an independent life even after he retires?