TOGETHER we can plan effectively for your retirement

Just the mention of the word retirement brings so much relief to professionals and salaried people who work non-stop each day to provide for their families. Talk retirement and the immediate thought that comes to the mind is relaxing at home on a weekday morning, with newspaper in one hand, sipping on some warm tea! For some it’s about taking that much needed afternoon nap, while for others it’s going on that long needed a road trip with family and friends.

The thought of retirement also brings to mind retirement planning. It’s a process wherein you set retirement income goals, and take actions to accomplish them. An easy thumb rule tells that you must replenish anywhere from 70% to 90% of your before-retirement income, in order to lead a relaxed retired life. It implies that if you are presently making around ₹ 70,000 per month, you will require anything ranging from ₹ 49,000-₹ 63,000 per month as your retired income, in order to continue living with the same standard.

Hence, for someone who is planning to retire after 15 years, his/her retirement planning will need to create an income system that consistently generates ₹ 49,000-₹ 63000 per month by that timeline. And in order to do that you will not only need to save, but also make well-thought-out investments. This is where we at MyBillions come into the picture and make your retirement dreams a reality.

Below are some of the many steps that we can take along with you to help you plan effectively for your retirement:

Increasing the investment volume with a corresponding increase in income - It’s very important for you to start making investments in the earlier phase of your life; investments that yield good dividends, whenever required. As your career graph reaches new highs, you will come to a point when you’ll be able to comfortably increase your investment volume. It is always advisable to invest more whenever you have scope to do so.

Starting early - It’s no news that the cost of living is following an upward spiral trend in India, and it pinches everyone with each passing day. Hence, it’s important to start making investments for retirement planning as soon as possible. The younger you are at the time of making retirement investments, the higher will be the resulting payout when those investments reach the maturity stage.

Allocating a percentage of monthly income towards the retirement corpus - We’ll help you invest a certain fixed percentage of your monthly income towards your retirement corpus, and can also work along with you to take care of your finances so that you don’t have to use any part of that corpus prior to your retirement.

Factoring in inflation while planning for retirement - Wanting to invest and building a retirement corpus are very important, however, you cannot neglect the impact of inflation on financial planning. Inflation can make a significant dent into your returns, hence when choosing your investments it’s important to make correct future-based price-rise estimations and factor them into your final returns.

Invest into health insurance and related plans - It is inevitable that your health in the sunset years of your life will not be as good as in your younger days. Hence, it becomes important to create a financial safeguard to tackle those times of emergencies. Investing into health insurance from a younger age is very important to ensure that none of your other investments and their returns suffer because of your medical contingencies.

At Mybillions, we can make a fair assessment of your risks and current financial situation to devise an investment strategy tailored specifically to help you build a healthy retirement corpus. We are SEBI registered investment advisors that can be relied upon for unbiased financial advice, at all time.