- RETIREMENT PLANNING
- INVESTMENT PLAN
- LIFE COVER
Retirement planning means preparing today for your future life so that you continue to meet all your goals and dreams independently. This includes setting your retirement goals, estimating the amount of money you will need, and investing to grow your retirement savings.
Every retirement plan is unique. After all, you may have very specific ideas on how you want to spend your retired life. This is why it’s important to have a plan that is designed specifically to suit your individual needs.
Why plan for retirement?
You retire from work, not life. You may have a new set of dreams for your post-retirement life. At the same time, spotify streams you may also want to maintain your day-to-day lifestyle without worrying about expenses.
By planning in advance, you can define the path to achieve these life goals without any financial dependence.
Best way to plan for retirement
- Start saving, keep saving, and stick to your goals
- Know your retirement needs.
- Contribute to your employer’s retirement saving plan.
- Learn about your employer’s pension plan.
- Consider basic investment principles.
- Don’t touch your retirement savings.
Investment planning is the process of identifying financial goals and converting them through building a plan. Investment planning is the main component of financial planning. The investment planning begins with identification of goals and objectives. Then we need to match those goals with our available financial resources. Nowadays there are many investment vehicles to invest in, most common being cash, equities, bonds and property. So according to the funds available we can invest in these vehicles to obtain our goals and objectives.
Benefits of Investment Planning:
- Family Security
- Efficiently manage income.
- Financial Understanding
- Savings.
- Standard of Living
Objectives of investment planning ?
- Safety
- Income
- Growth of capital
- Tax Minimization
Life insurance is a contract between you and an insurance company. Essentially, in exchange for your premium payments. The insurance company will pay a lump sum known as a death benefit to beneficiaries in the event of the member’s death. The beneficiaries can use the money for whatever purpose they choose. Often this includes paying everyday bills, paying a mortgage or putting a child through college. Having the safety net of life insurance can ensure that your family can stay in their home and pay for the things that you planned for.
Benefits of having a Life Insurance/Cover
- Life Insurance Payouts are Tax-free
- Your dependents wont have to worry about Living Expenses
- Life Insurance can cover final Expenses
- You can get coverage for Chronic and terminal illnesses
- Policies can supplement your Retirement Savings
Life cover is important if you are :
- Just married
- A young couple just starting out
- New parents raising a young family
- A mature family starting to think about the future
- A retiree who may survive their partner and need financial support.