Last week we had talked about importance of Financial Planning this week we will discuss most important planing of your life that is nothing but Retirement Planing.
While discussing with many people we have listened Common arguments at various ages of life to avoid Retirement Planing.
@ 20s “Let me start my career”
@ 30s “I have just started my career let me enjoy. Will start Retirement Planing later on still I am young to start Retirement Planing.”
@ 40s “I have so many liabilities to be completed will manage after few years.”
@ 50s “Now I have to start but let me complete my EMI first. My entire EMI will be diverted to my Retirement Planing.”
@ 60s “Oh No..”
I have done such a big mistake. “My Retirement Planning would have been started earlier”. As a result of this I could not be able to accumulate required corpus. Now I will have to work for my daily needs.
There are 2 things that’s why people are avoiding Retirement Planning
1. Time frame which is available
Due to longer period @ 20s & 30s it looks easy that they will manage to accumulate such corpus.
@ 40s to mid 50s people are engaged with their liabilities so could not start.
Finally @ 60s after Retirement they realise that they have done a big mistake but it’s too late now.
2. People are not aware about the actual corpus required for Retirement Planning. While in earning stage it seems easy that it will be manageable to accumulate but when actual Retirement comes near people realise their mistake.
NORMALLY PEOPLE LOOKS RETIREMENT PLANNING JUST LIKE OTHER GOALS. Here people make a mistake they treat Retirement Planing just like other goals. In real other goals are just one-time goal while in retirement planning it is for rest of the life. Concidering longitivity this might be as long as earning period.
Avoid such mistakes Don’t keep pending your Retirement Planing and enjoy your Retirement Life with Dignity.
Next week we will see how you should plan your Retirement and Live Life like a King after Retirement.
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