How to prepare for retirement in a world of increasing life expectancy
1 month, 1 week ago

How to prepare for retirement in a world of increasing life expectancy

Live Mint  

FIRE has engulfed social media platforms. As life expectancy continues to rise, retirement planning implications become increasingly significant. According to the World Economic Forum, the global average life expectancy is projected to reach 81 years by 2100. By making informed investment decisions, one can secure their financial future and enjoy a comfortable retirement, regardless of when they choose to retire. You can ensure a secure and fulfilling retirement by extending your retirement planning horizon, accounting for healthcare and long-term care costs, inflation-proofing your savings, adopting flexible withdrawal strategies, and planning for legacy and wealth transfer.

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History of this topic

How to save for retirement: Investment tips for moderate risk takers
8 months, 3 weeks ago

How to save for retirement: Investment tips for moderate risk takers

Live Mint  

I am 35, and recently started a new job with a monthly income of ₹ 1.5 lakh. —Name withheld on request {{^adFree}} {{/adFree}} If you plan to retire at 50, you will need to build a big enough corpus to last you through 30-35 years of retirement, or even longer. If your retirement corpus of ₹2 crore earns 9% returns, …

Rs 65 Lakh Ideal Retirement Corpus; People Realising Importance Of Annuity, Says Report
2 years ago

Rs 65 Lakh Ideal Retirement Corpus; People Realising Importance Of Annuity, Says Report

News 18  

‘Retirement is a pause and not a stop.’ is the current attitude of Indians towards one of the most important milestones in their lives. The findings of ‘Is India prepared for retirement?‘, a study by ICICI Prudential Life Insurance, showed that retirement is viewed positively as a time full of possibilities. Manish Dubey, chief marketing officer, ICICI Prudential Life Insurance, …

Retirement Planning: From inflation to eventfulness, numerous aspects of life that manifest in your golden years
2 years, 1 month ago

Retirement Planning: From inflation to eventfulness, numerous aspects of life that manifest in your golden years

Live Mint  

“Live long and prosper” but first you must check if you have sufficient material means to live long or else you are doomed to be financially dependent on your friends and family. Monthly investment: Rs 22,000 Total years of contribution: 30 years Expected return on investment: 10% Expected annuity rate: 6% Portion of the pension corpus turned into annuity: 92% …

Want to build corpus of Rs 1 crore at retirement? Learn how to plan it
2 years, 4 months ago

Want to build corpus of Rs 1 crore at retirement? Learn how to plan it

Firstpost  

It will be easier for you to accumulate a sizable corpus the earlier you begin saving money for retirement. You can gradually switch your fund allocation from equity to debt mutual funds as you get older to meet changes in your risk appetite. Therefore, if people in this age bracket are willing to accept an average return of 10 percent …

How Indians plan their retirement, in 5 charts
2 years, 10 months ago

How Indians plan their retirement, in 5 charts

Live Mint  

Most Indians expect their children to provide them financial stability when they get old, with 28% yet to start saving for retirement, a new survey has found. Rural Indians know less of old-age financial planning needs, and also save less, often due to uncertain income flows, found the ‘Digital and Financial Inclusion Barometer’ survey by Sambodhi, a research group, and …

What should be the retirement corpus we ought to look at?
3 years, 1 month ago

What should be the retirement corpus we ought to look at?

Live Mint  

I am 31-year-old and drawing a salary of approximately ₹65-70,000 per month. However, in case you wish to retire at 40 years, which means 9 more years of working, it means a principal savings of ₹48.88 lakh assuming the savings are increased every year by 10%. And assuming earnings rate at 12% and an opening corpus of ₹20 lakh, the …

With average pension pot of ₹5 lakh at 60, Indians choosing not to retire
3 years, 3 months ago

With average pension pot of ₹5 lakh at 60, Indians choosing not to retire

Live Mint  

The corpus of an average National Pension System subscriber at retirement or at the maturity age 60 years is a shade under ₹5 lakh, according to Pension Funds Regulatory and Development Authority data. The average central government employee’s pension corpus stands at ₹13 lakh, while for state government employees it is around ₹5.4 lakh. While NPS subscribers have to use …

How to ensure a future income from budgeting?
3 years, 3 months ago

How to ensure a future income from budgeting?

Live Mint  

The need to feel secure is a basic human tendency. Financial advisors generally advise that retirement corpus should equal at least 10 times your annual income. In addition, by starting early, you can enjoy the perks of the “power of compounding” on certain investments, a huge part of which would otherwise be forgiven with each passing year. We explain here …

Opinion | Find out how much you should save to retire comfortably, plan accordingly
5 years ago

Opinion | Find out how much you should save to retire comfortably, plan accordingly

Live Mint  

Retirement calculators are too complex for most people to understand, and this complexity hides the inbuilt optimistic and incorrect assumptions that they make. The simple formula assumes that inflation is equal to investment returns, net of capital gains tax. The rationale The most important assumption in the formula is that over the couple’s remaining lifetime, inflation is equal to investment …

Only 1 in 3 people save for retirement: report
6 years, 6 months ago

Only 1 in 3 people save for retirement: report

Live Mint  

Most of India’s working class is not planning for life after work with only one in three saving into a retirement fund. A fifth of the total employed people said they don’t anticipate any difficulty in independently managing their finances after retirement, said a report titled The Future of Retirement, the Cost of Ageing by HSBC. Over 68% of working …

Three financial risks to plan for before retiring
6 years, 6 months ago

Three financial risks to plan for before retiring

Live Mint  

As with corporate strategy, the essence of personal finance strategy is to identify the one or two most important problems, and to find a solution to them. Longevity risk Longevity risk is the risk of living much longer than average and, hence, exhausting one’s savings during one’s lifetime. A very limited financial solution is to start saving as much as …

Should you save more now, or postpone retirement to enjoy a better standard of living?
7 years, 1 month ago

Should you save more now, or postpone retirement to enjoy a better standard of living?

Live Mint  

Delaying retirement by 3-6 months has the same impact on post-retirement standard of living as saving an additional one percentage point of labour earnings for 30 years, a new National Bureau of Economic Research research paper by Gila Bronshtein, an associate at Cornerstone Research, and co-authors shows. Despite concerns over risks to China’s financial system, a financial crisis is unlikely …

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