Retirement and Pension Plans - Definitely Fulfil your Retirement Goals - HDFC Life
Donâ€™t believe us? Letâ€™s take a look at just some of the things you can choose to do once you retire:
After years of getting less than 30 days of leave per year, you have the rest of your life to explore the world from end-to-end. You can choose to do a few solo journeys, or travel with your spouse. Enjoy an Alaskan cruise near the North Pole, or relish the luxury of Palace on Wheels in India. With time on your side, you can choose to go whenever you want, without having to worry about getting back to work within 21 days!
- Pick Up a New Skill
From learning how to play the guitar like a pro, to finding your way around the kitchen with the help of a pro chef, your retirement years are a great time to pick up a new skill. You now have the time to go for classes, and pick up a skill youâ€™ve wanted to learn ever since your youth.
- Embrace Your Hobby
While more and more people today are lucky enough to choose a career that they love, several individuals are forced to give up their hobbies to work and support their families. Now that youâ€™ve retired, itâ€™s time to pick up your hobby again. If you love to write, you could create a blog for yourself, or, if youâ€™ve always been great at carpentry, you could make little pieces of furniture and sell them to make a little extra money.
- Help Out
Your golden years are a great time to give back to the community you come from. You could choose to cook and distribute food to needy people around you, or you could use the skills youâ€™ve learnt over your long career and help train those who are less fortunate and do not have access to great education or vocational institutions. It may involve some amount of hard work, but the satisfaction is more than worth it.
No matter what you choose to do during your retirement, you will need to make sure that you have the means to enjoy your golden years. This will require prudent financial planningÂ on your part from the moment you join the work force, right until the time youâ€™re ready to kick back and relax. The nest egg you build for yourself and your spouse should be able to cover not just your everyday expenses, but should also give you the freedom to see the world, fulfil childhood dreams, and perhaps even leave a legacy in your immediate community.
To be able to do all this and more, you can invest in a pension planÂ right from the moment you sign your first contract. By putting away a small amount of money every year that youâ€™re working, you will ensure that you have the freedom and liberty to do as you please in your 50s and 60s. With a few wise investments, you can even retire earlier than others, and make the most of your free time. If you havenâ€™t started your retirement planning yet, click here to find a plan that suits your needs.
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How to Plan for Retirement as Per your Age
"The thumb rule for retirement planning is - the earlier you start, the more you save. However, with age, your priorities change too. So, you need to factor in the cost of living in the present vis- a -vis future."
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