Winsure Financial Planners

Retirement is much a reality as much as its planning a neglected activity. Retirement planning continues to be ignored by most individuals.

Retirement Planning

With the growing complexity of retirement, more and more people are getting concerned about retirement and its planning. Once you have passed working age, it becomes difficult to mend the expenses. During such times, careful retirement planning is the only thing, which can undoubtedly make your retirement period a golden era. Retirement planning related term is often referred as allocation of financial resources so that its benefits can be fully achieved when you can no longer remain liable to work and earn.
Regardless of your age, it is never too early or too late to begin looking after your money. Visions of retirement vary from person to person and include such things as relaxing full time, travelling, pursuing a hobby and maybe even working part-time.
So,It’s your decision at the end whether you want to retire happily or retire with financial worries and burden.Plan it accordingly .

Retirement Checklist

Have you performed a comprehensive retirement needs calculation?

Are you contributing enough to potentially reach your financial goal within your desired time frame?

Is your asset allocation aligned with your retirement goal, risk tolerance, and time horizon?

Is your asset allocation properly spread out? A part to provide you with guaranteed returns, albeit moderate, and a part to provide a little higher returns. Please be very careful investing in schemes where returns are abnormally high and much beyond market standards.

Do you review your retirement portfolio each year and rebalance your asset allocation if necessary?

Have you considered your health insurance options, (i.e., Mediclaim and/or employer-sponsored health insurance), out-of-pocket medical expenses, and other related health care costs? Maybe you would need to take up a second health insurance now, as after retirement your present employer will no longer cover you, and a new health insurer would not want to take up a new (high) risk.

Have you reviewed all your financial and legal documents to make sure beneficiaries are up-to-date?