5 Tips to Boost Your Savings Before Retirement
Planning your personal finance in advance and enhancing savings as one of your financial planning smart goals can help you maintain a good lifestyle after retirement without compromising on your hobbies, travel and leisure needs, and peace of mind.
Here are some interesting facts to offer you some perspective:
Facts at a Glance
- Only 47% of Indians try to increase their savings for retirement to reduce dependence on others for financial needs.
- 1 in 4 people believe that the ideal age to start retirement planning is 65 years.
These findings show how people aren’t as concerned about boosting their savings for retirement as they should be. Experts believe that you need at least Rs. 5.28 crore of corpus to successfully manage your expenses and lead a comfortable retired life.
This is why it’s so important to start planning your personal finance to boost your savings for retirement. Here are 5 ways to increase savings before retirement:
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