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Many people save, plan and invest to have a comfortable retirement. Some people do live the life they want, but others fail due to poor planning or unexpected events. While there is much discussion about how to invest in retirement, very few experts offer sound advice or reliable investment options for those who have already retired.
Contrary to popular belief you don't need to stop investing once you retire. Life doesn't stop after retirement. Many seniors who are 'young at heart' realize that life starts at 60. With increasing life expectancy, the retirement savings may not be sufficient to last them another 25-30 years.
According to the SRS report by the RegistrarGeneral of India, 2013-17, urban men live to 71.20 years and urban women live to 73.70 . This is an average. Many people reading this article could live past 85.
What can you do to ensure a long, healthy retirement? There are many smart retirement investment options today. You can invest again. Here are some options to help you find the best retirement investment options or good retirement investment options.
As a retirement investment strategy, financial planners recommend that you have a mix of fixed income assets. A wealth manager can help those who aren't financially competent to build a balanced portfolio or optimize their investments.
For your post-retirement life, you should invest a portion the returns of your EPF, PPF, or pension/annuity plans. You don't have to spend all of the money you receive on retirement because you have annuity plans that will pay your pension. The unpredictable nature of life is even more apparent in a world where epidemics and deadly pandemics are becoming the norm. Healthcare, medication, and hospitalization will account for a large portion of your retirement expenses. Make sure you have sufficient health insurance or an emergency fund in place to cover these costs.
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