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Say HI to ” Retirement Plans”
”MUTUAL FUNDS ARE SUBJECT TO MARKET RISK, PLEASE READ THE OFFER DOCUMENTS CAREFULLY”. We all have heard this line or probably seen in the TV commercials or hoardings.
The word RISK catches the eye and turns the ear active making us believe that if we will invest, risk will be higher and returns will be less so, leave and move to the safer option, we have ample of choices available in the market.
We all have grown up hearing the story of the turtle and rabbit, where the turtle was slow and still won the race, the same is the case with mutual funds, returns are slow but in the end you will definitely earn huge returns.
Looking for SMART PENSION FUNDS
Actually the point is we all are not clear about the concept of mutual funds and how they can be beneficial for us after retirement; we just go by the words of another.
Think about you being at the age of 70 wants to go out for a vacation in Europe or you want to buy a good car to gift your grand children.
You will need some money at that time. What if you have to say NO a big NO to all your desires and feel helpless, I am sure we don’t want to face this kind of situation nobody likes it.
Let us understand the concept of mutual funds in a simple way that can help us better in planning for retirement, when we were in our childhood, we use to get some money as a pocket money from our elders or some sum of money as a token of love when some relatives use to come at home or we use to go in their place and we all had a little piggy bank at our home, what we use to do was collect that money and put it in a piggy bank and some amount personally spent on buying chocolates or ice creams.
Now don’t say thanks, I know those were the wonderful days of life, coming back to the point, when there was somebody’s birthday or any other occasion in our family, without asking money from the elders, we bought gifts from that accumulated money we had in the piggy bank that use to be the happiest moment and gave a sense of satisfaction of being independent even with a small amount that use to bring loads of happiness to us and to others as well.
Same is with the mutual funds, there is a big piggy bank where we all can deposit little amount and can take back the return when we need. We don’t have to invest a lot or a big chunk of money, a little will also do.
Why it is important to save for the future, especially for olden but golden days??
Our society is based on the concept that till you die you have to support your family, it’s not just you get your kids, married and your duty is over, it’s till you live your last breath. Financial security is not only important for you and your spouse but also for your kids so that they can have the best use of funds in the most productive way.
Indian society is becoming aware about the financial needs of present as well as future and they are researching and finding the best way to put their money for investment to secure their future. If we will be financially independent we will not be a burden on our kids as said above instead we will be one of the pillars for them.
That is one of the reasons why planning for retirement now days have become a popular topic to think of.
Lifestyle and economic conditions are always changing, it’s not only important to be independent financially, but it’s also important to keep up the pace with changing scenarios of external as well as internal environments.
Change is permanent you need to analyse how much you have to invest, overestimation and underestimation can lead to wrong planning.
How to choose, then?? Don’t worry, there are few ways which are as follows (These are general steps not specified or mandatory to follow blindly)
Various other factors also add to investment when planning for the future, before investing do good research and consult with certified financial planners, they can guide you in a better way how to invest, when to invest and what will be the return that you will generate.
They have ample of schemes for the investment and can be tailored according to your budgets and needs.
Planning for the future is mandatory as the future is uncertain and we don’t have control over it. Retirement planning is very essential and need of an hour, if we will plan early we will reap good benefits and vice versa.
It’s a long term goal, don’t neglect it for short term goals. Future should always be pleasant and it’s in our hands to mold it, either you can make it bright or you can darken it. Don’t be a prey to frauds, research, invest and enjoy your olden but golden days of life.