SECURE YOUR FUTURE
Protect your future as you get going, again. Take the right steps to ensure a stable innings.
An easy and smart guide to managing your household expenses effectively
Saving for retirement must form an important aspect of your financial goal planning at any stage of life, but particularly so when you are in your 50s. Many people make the mistake of deferring retirement planning till it’s too late. The concept of increasing savings remains limited to Employee Provident Fund or Public Provident Fund contributions.
Household debt in India continues to rise – as per the All India Debt and Investment Survey 2021, household debt’s share of GDP rose from 32.5% in 2019-20 to 37.3% in 2020-211. Budgeting helps avoid these scenarios and helps meet the needs of a growing household. It’s one of the most important tools in building a successful financial future because it helps you get the most out of your money.
Give yourself peace of mind by securing your family’s long-term future.
Shield yourself and your loved ones with robust insurance planning
When you’re coming closer to your retirement, there may be several financial concerns in your mind. It’s easy to ignore or forget about an emergency fund in the midst of all this.
It’s important to inculcate good financial habits to secure your future. It’s equally important to avoid money mistakes, in order to keep yourself on track to achieve your retirement goals. Here are some of the major mistakes to avoid for hassle-free retirement planning:
The average age of retirement in India is 601, so once you enter your 50s, you are less than 10 years away from retirement. The good news is that you’re probably earning more than you did in your 30s or 40s, and you are financially stronger. But there could be obstacles lurking – and some upcoming expenses could derail your retirement plans. Here are 7 significant expenses that you should prepare for in your 50s:
Save & Invest
Save and invest for your secure future
Turning 50 can be a wonderful landmark in your life and personal finance journey. This is when you are at the peak of your career as well as meeting all your family obligations. However, financial planning remains an important responsibility and depends on the scenario you’re in.
Not everything in life goes as planned. The same holds true for retirement planning as well. Here are a few challenges that you may face along the way and suggestions on how you can successfully overcome the situation.
As you approach your 50s, financial and investment planning must become focused activities, to accommodate your current requirements and also prepare you for retired life.