A lot of things like children’s expenses, household EMI expenses and basic survival expenses comes under expected expenditure and unexpected expenditure includes medical emergencies. Hence retirement planning is very crucial to meet these expenses at a time when the income generation is stopped.
Having a retirement plan in place and making sure an income is generated out of it every month allows the policy holder and the family to continue living their lives in the same way that they had for all these years. It also allows them to meet the expenses of the plans that they had made for their retirement life.
Retirement planning makes it easy for retired people to meet their day-to-day expenses like groceries, household expenses and also unexpected medical emergencies at the same time. It makes the policy holder’s life financially independent and also tackle the medical challenges that age throws at them.
All your life, meeting the expenses was never a problem because you were earning every month and it was easy but retirement period is when you need to meet expenses without salary or income. It is important to save up for the rest of life after retirement to continue enjoy living with the same lifestyle.
A lot of people have plans to retire early, could be for many reasons. Few of them wish to travel the world, few wish to start a business and the rest wish to have a pleasant life with family without work tension. Consider a person is 35 years old and he/she wants to take an early retirement at 55 and settle down without having to work anymore after that point.
If that person wishes to have Rs. 40,000 at his disposal on a monthly basis for his expenses, Taru Financial services will put into place the best plan for that person to yield the desired amount at the target year. It is also important to note that Rs. 40,000 today is equal to Rs. 1,50,000 after 20 years, considering the inflation rate of 7%.
For the person to receive this amount monthly, he should be having Rs. 3 crores in his bank account so that he can get 6% interest from it, i.e., Rs. 1,50,000. Taru Financial Services does exactly this. It will find out ways or create one if necessary to accumulate the said amount Rs. 3 crores in the person’s bank account so that he/she can live the kind of retirement life he/she planned to have.