Each person has his own idea of spending his retirenment years. Retirenment planning is all about being able to realize these dreams while leading a comfortable retired life.

What is the need for retirenment planning?

To maintain your standard of living post retirenment with a plan to take care of your expenses foreseen or unforeseen expenses.
To manage balance between your income and expenses post retirenment.
To safeguard against inflation

Three Phases of Retirenment Planning

1. Accumulating Wealth

• Start early to build a big retirenment corpus.
• Save atleast 10% of your income for retirenment
• Increase investment as your income grows
• Choose optimal investment option, ( asset mix – Equity : Debt )

2. Transitioning to Retirenment

• Discuss key retirenment goals / priorities
• Avoid Large and unwanted Loans ( any Kind )
• Take a Long Term view ( avoid worrying for market fluctuations )
• Plan for atleast 30 Years

3. Enjoying your Happy Retirenment

• Decide on what percentage monthly income you need.
• Keep a watch on inflation rate, your health costs and priorities.
• Establish your Estate Plan ( Will Formation )