How to start retirement planning in India is one question that you have. And how important is retirement planning to you now? Or how to calculate retirement planning. You should first understand best retirement planning. Moreover you should know how to account for inflation in retirement planning.
What is retirement planning?
Retirement planning is term for saving money after you retire. Therefore when you retire you are financially independent. However there is process of retirement planning that you follow. On other hand you know things to check for insurance policy.
Process of retirement planning
- Check when do you wish to retire
- And if you are financially stable
- How much planning knowledge do you have
- Start saving
Points to remember when you plan retirement
First is time. As with time your savings increase. Therefore you must start investing in different sectors. While one investment is pension. Second is that you maintain monthly investment. In this way only you can invest regularly.
Thus it becomes kind of compulsory to invest or save money. Third is to make a plan. Moreover this includes travelling and medical expenses post retirement. It is because after you retire you pay for all expenses yourself.
Retirement plan calculator
In addition you must keep many things in mind. One of them is retirement planning calculator India. On other hand you know different pension or retirement plans. In this way you know how to do retirement planning India.
Even you know how to calculate retirement planning. It is so because you will know how to start retirement at 40 or before that. Thus it is easy to check different retirement planning options.
How to calculate inflation rate for retirement planning
You must know some facts about inflation rate and its effects on retirement fund. Furthermore prices will increase in future. Therefore you should have idea of these changes.
Apart from above things you keep some more things in mind. And it is that you select correct pension plan. Besides this pension plan helps you in many other ways. Understand how will GST tax effect tax rates on properties.
Tax benefits for pension plans
Yes there are many tax benefits with pension plans. However you check some important points here. It is so because you know if there are tax benefits on amount. Or even if there are tax benefits on pension amount. Finally accumulated corpus should be tax free only.
On other hand it is better that you do not look for extra benefits. As there will be more difficulty. Apart from that you pay more money for these taxes. In addition your goal should be to have maximum retirement corpus.
Hence you know how to do retirement planning yourself. But it is best if you check other things also. As you know how important is retirement planning to you now. Finally know about telecom sector in NSE and BSE.