Here is a look at the multiple benefits of retirement:
You can spend quality time with your loved ones:As a working professional, you could have spent a major part of your life in fulfilling your professional responsibilities. At times, you could have worked for long hours at the office, while your family patiently waited. On other occasions, you could have brought office work to home, or worked from home. The need to meet the professional deadlines could have meant that you didn't have enough time to spend with your family. While working, you could have also missed to fulfil your personal obligations towards your loved ones. But, with retirement, you can spend quality time with your spouse, children or grandchildren.
Time to pursue hobbies:The constant deadlines and the range of professional responsibilities often leaves one with little time to pursue hobbies. If you had always longed to play any musical instrument, or wanted to sing, start a new collection of stamps or coins and so on, then the post-retirement years is just the right time. Along with allowing sufficient time to pursue hobbies, you can also learn new skills, like learning a foreign language, sketching, calligraphy etc.
Freedom to do what you wanted:Another key benefit of retirement is that you have the freedom to live life as you had always longed to. If you wanted to get away from the bustling city of your residence, and settle down in a serene countryside, or a hill station, you can now make the move. Along with relocating to a peaceful place, you can participate in long-cherished activities, like fishing by the riverside, or basking in the sun amidst picturesque surroundings on a winter afternoon.
Reinventing yourself by taking new projects:There could be a possibility that you were in a different profession from what your heart longed to do. For instance, you could have been a financial advisor, while wishing to be a professional photographer. Retirement could well be the time when you reinvent yourself. You can even start freelancing in the area of your expertise. Not only this would be creatively more satisfying, it could also provide an additional source of income.
You must, however, remember that while there are manifold benefits of retirement, these can only be availed if you have adequate financial resources. It is exactly here that the importance of having planned investments- for long-term - comes to the fore.
Here is a look at the benefits of investment for your post-retirement years:
Helps to have adequate money for your post-retirement years:The key advantage of planned investment for long-term goals such as retirement planning is that it will allow you to have sufficient finances for your post-retirement years. What's more, if you start investing early for your retirement, you stand to gain from the benefit of compounding. Having sufficient funds at your disposal will allow you to enjoy the golden years of your life.
Helps you maintain the quality of your lifestyle:Planned investments can help you create a retirement corpus, which is in sync with the rising costs of living due to inflation. This will allow you to maintain the quality of your lifestyle in the post-retirement years.
Protection for spouse and family:The right retirement planning will not only secure your future, but also act as a financial cushion against uncertainties or unforeseen emergencies faced by your spouse and family-members. So along with yourself, planned investments for retirement also protects your loved ones.
Allows for secondary source of income:Another benefit of investing in the right retirement plan is that it can help you receive additional, secondary income. For instance, the HDFC Life Pension Guaranteed Plan provides for a regular guaranteed*income for lifetime. This single premium annuity product has a wide slew of benefits, like the option to take the plan on single or joint life basis, option to receive annuity on monthly, quarterly, half-yearly or annual basis, option to receive immediate or deferred annuity, choice of increasing your annuity amount via top up options and so on.
Thus, the post-retirement years can easily be the most relaxed and enjoyable period of your life, provided you start planning for your long-term goals via the best investment plans.
* The word "Guaranteed" and "Guarantee" mean that annuity payout is fixed at the inception of the policy
5 Retirement Planning Tips for Small Business Owners | HDFC Life
August 03, 2021
What is VRS? - Benefits and Features of VRS | HDFC Life
August 03, 2021
Widow Pension Scheme 2021 – Apply and Avail Benefits | HDFC Life
August 03, 2021
Subscribe to get the latest articles directly in your inbox
3 Key Steps Women Can Take to be Strong Leaders | HDFC Life
June 02, 2021
Annuity Terms Everyone Must Know About | HDFC Life
August 02, 2021
6 Common Myths About Annuity Plans Debunked | HDFC Life
August 02, 2021
HDFC Life Insurance Company Limited. CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101.
Registered Office: Lodha Excelus, 13th Floor, Apollo Mills Compound, N.M. Joshi Marg, Mahalaxmi, Mumbai 400 011. Email: [email protected], Tel No: 1800-266-9777 (10 am to 7 pm). The name/letters “HDFC” in the name/logo of the company belongs to Housing Development Finance Corporation Limited (“HDFC Limited”) and is used by HDFC Life under an agreement entered into with HDFC Limited.
For more details on risk factors, associated terms and conditions and exclusions please read sales brochure carefully before concluding a sale.
|BEWARE OF SPURIOUS PHONE CALLS AND FICTIOUS/FRAUDULENT OFFERS