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Oscar Bulldog | What’s the best way to plan for one’s retirement and when is a good time to start planning? |
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Sanjeev Ahuja
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The best way to plan for retirement is to start saving as soon you start working. The power of compounding works in your favor. Save in all the asset classes, specially equity as it gives good returns over a long term period. Start saving with small amount and be a disciplined investor. Never tinker with your retirement funds until and unless absolute necessary. |
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Jim E
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The best time to start planning is always "right now".
And, even with all the market gyrations and upset stomachs, here's a good rule of thumb. Take a look at all your liquid (i.e. not real estate) assets. Ready for the some math? Take your age, subtract it from 110, and that's the percentage of your funds you should have in the stock market for retirement. In other words, if you're 30 yrs old. having 80% in the market is probably about right.
As far as how much to save, the answer is always "more".
But, realistically, if you can save 8%-10% of your gross salary starting in your 20's or 30's, and continue to do so, you'll be quite fine at retirement.
Good luck, and have a pleasant tomorrow :-)
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Kriti
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hallo,
the best time to start planning is when you start earn i.e you have something to fund for your retirement.
the best way to plan your retirement is by doing your financial planning done by a good financial planner so that he can guide to as to how much you can invest in commodities,debts,equities,mutual funds and insurance.
If you want I can help you in this.
Regards,
Kriti Ahuja
kritiahuja@ymail.com |
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Sheetal J
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The best time for planning is when you start earning, you may find so many ways to invest your money.Today there are so many plans which is provided by ICICI, AXIS & so many other reputed banks.
As per my preference, I would prefer Insurance plans which Covers Life as well as provide a widest support to our Family. In Insurance we have so many options & plans for retirement Benifits.
Even I have consulted with one of my Financial Planner & he suggested me to spend morethan 20% of your earnings into Insurance.
Happy Investment!!!
Sheetal Rathore |
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Shreeniwas Gadiyar
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best way to plan is by saving small amounts regularly, monthly if you are a salary earner.
The good time is TODAY just now. |
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kovvurinagireddy
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the best plan is to have children , nurture them well with values and education.
the good time to start planning is perhaps when you get married and may be when you are about 24-28 (for males) years of age.
so when you retire you are likely to see your children settled in their life . its their well bringing up is the absolute insurance for you to enliven your post retirement life. |
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karthik t
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cultivate some good hobbies and some social work activities. i have seen many having good savings /pension but still feel miserable.
also build up some spiritual values and dont be too much attached to position. |
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yuvrajgupta82
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I say start planning as soon as you decide to settle and down and start a family.
Along-with your normal PF it would be a wise decision to take up one of the Retirement Plans offered by the likes of ICICI and LIC.
Long term investments like buying property can also be considered. |
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ashish m
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Small Saving will make big differences in life. Also if you people want to know more about Personal Finances. Read Robert Kiosaki's "Rich Dad and Poor Dad". It will help you people to come out of Rat Race.
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davinder s
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First of all, I want to tell u that there is no best way ,but better ways are available in the market.There are lot of ways are available in the market,but according to the Analysts( I am a Analyst),ur investments should have an element of flexibility.So u can plan ur retirement according to ur financial health.
Now question arises ,when to start it? According to me ,u have to start it in the age of nearly 30.but this also depand upon ur financial health.
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basu
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start planning for one's retirement once decided to marry. To plan for
house,vehicle,children's uninterrupted education and finally for retirement income with protection for health care. |
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Ambrish S
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Small Saving will make big differences in life. Plan to buy an insurance unit linked plan from Max New york Life and surely it is going to help out from inflation.
also get rid of sad look in- spite of decent money for retd. life |
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sayed j
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when you feel you are more responsible . |
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vijaya s
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A start is always best.Make sure to save atleast 10% of take home earlnings of your life. |
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kumar s
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The social safety net is a term used to describe a collection of services provided by the state, such as welfare, unemployment benefit, universal healthcare, homeless shelters, the minimum wage and sometimes subsidized services such as public transport, which prevent individuals from falling into poverty beyond a certain level.
A practical example of how the safety net works would be a single mother with several children, unable to work. By receiving money from the government to support her children, along with universal health care and free education, she can give her children a better chance at becoming successful members of society, rather than be caught up in the hopelessness of extreme poverty.
http://loan-guides.freevare.com
Comparisons of systems are endless, and among the most common are the ones between Canada and the United States, due to their proximity. Supporters of a strong social safety net argue that these programs have resulted in a much lower crime rate and general lower poverty levels in Canadian cities, and this benefits everyone. Critics argue that the taxes required to support the safety net inhibit growth and actually increase the barriers for socio-economic advancement, and that the safety net itself creates a perverse incentive to be unproductive and poor. |
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Siva S
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Much effort has gone into the study of financial markets and how prices vary with time. Charles Dow, one of the founders of Dow Jones & Company and The Wall Street Journal, enunciated a set of ideas on the subject which are now called Dow Theory. This is the basis of the so-called technical analysis method of attempting to predict future changes. One of the tenets of "technical analysis" is that market trends give an indication of the future, at least in the short term. The claims of the technical analysts are disputed by many academics, who claim that the evidence points rather to the random walk hypothesis, which states that the next change is not correlated to the last change.
http://loan-guides.freevare.com
The scale of changes in price over some unit of time is called the volatility. It was discovered by Benoît Mandelbrot that changes in prices do not follow a Gaussian distribution, but are rather modeled better by Lévy stable distributions. The scale of change, or volatility, depends on the length of the time unit to a power a bit more than 1/2. Large changes up or down are more likely than what one would calculate using a Gaussian distribution with an estimated standard deviation. |
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khanapur
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Usually the age for retirement is either 58 or 60 Years. Start planning when you are just 55 or 53 i e. 5 years before age of superannuation.
1.Regularly take a kisan vikas patra or indira vikas patra every month for any amount you can afford
2. Contribute more money upto Rs 70000 in GPF or EPF which you are having.
3. Contribute to Mutual funds on a nominal basis in their units
4. Share market is volatile now but the purchase of very good script of fundamentally strong companies is adviceable upto 10 percent of your savings
5. Start reducing your liabilities such as performing marriages of children , education of children etc so that you have zero liability on children
After retiremnt you can think of investing the retirement benifits on Monthly income scheme of Post office upto Rs 6 lakhs in joint names of you and your spouse. Balance funds can be parked in Senior citizens saving scheme which gives a quarterly return at 9 % p.a
In your job you may be having superannuation scheme which gives a pesion for life to augment your normal pension either from Govt if you are in Gocvt service or from EPF if your in other jobs.
This should take care of all your retirement need to have a comfortable living post retirement. |
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