Why Retirement Planning should be on your priority list?


We all are aware of the fact that each and every person in this world wants to live a happy and stable life even after the retirement. But to own such a stable and worry-free life, retirement planning is a must. But, we are so busy in our present life that we forget to think about our future and making plans for a secure retirement.

Retirement-PlanningIt is advisable for everyone to start planning for retirement as soon as they start earning. This will help them in having a decent amount in their pocket to enjoy their post-retirement life. It is important for everyone to keep retirement planning at the top of your priority list so that your dependents wouldn’t suffer during your post-retirement days.

Why is retirement planning important?

It is important for a person to plan for everything in advance and as early as possible. We suggest you to start planning at a young age so that at the time of retirement you must be holding sufficient funds for your post-retirement days. Let’s understand this with an example:-

Akhil start saving for retirement from the age 30 and he saves around 7500 per month. So after 30 years at the age of 60 when he will be about to retire that he must be having 75 lakh (assumed a compounded growth of 8 percent. Apart from this, Sukhbir who starts saving for retirement at the age of 40 years. So his corpus will not be good as the Akhil’s corpus. And he has to compromise on many things.

 This is why it is always advisable to start planning and investing at a young age. It is the first rule of retirement planning that starts investing for as soon as possible for a relaxed and peaceful retirement. To accumulate sufficient funds to start investing early. For those who believe in spending more can find it hard to save for the golden days. But for most of the people, investing for retirement at an early age can be easy to go as they are aware of its huge benefits.

An important aspect that people should look for is if your family is dependent on you so a single illness of yours can easily affect the financial stability of your family. So, it is important to start planning for retirement as soon as you start earning.

A few points to make you believe that the retirement planning is important

Financial obstacles- We all are aware of the fact that life is uncertain. We don’t know what is waiting for us in the future and what can spoil our life completely. The presence of several hardships of future makes it important for every person to start planning for retirement as soon as possible which will give them the needful financial support.

Dependent family – If you have a dependent family then your retirement can easily affect them as well. But if you manage to have sufficient funds then you can easily fulfill your family’ wishes and yours as well. With the same, it will be easier for your family to live a happy life.

Want To Live An Independent Life- No matters how much your son or daughter loves you, but still, there may be some situation where you want to live an independent life. You don’t want to be a burden on your family, obviously, you will not be as your children will be taking care of yours but still do you want to add more responsibility to your children. No, because you love them more they do.

 Retirement Is An Ideal Time To Enjoy- There are many stages where you don’t fulfill your personal wishes and dreams because of family responsibilities or any other issues. Retirement is a time for such people to fulfill their dreams With the successful retirement planning and accumulate sufficient funds, it will be easier for you to live your life the way you want during post-retirement days.

You cannot work always-Yes it is harsh but the true reality that you would not be able to earn always. There may be a time when your body won’t allow you to do it. After your retirement, what you will do? Do you still want to work for money? No, of course, you want to enjoy those golden days of your life but it is only possible with the effective retirement planning.


No matter how much you earn, no matter how supportive is your family-there is always a time when you realize that you want to live an independent life and fulfill your desires. Such will be the situation of your retirement. To enjoy this golden period, it is always important to have sufficient funds in your pockets and this is possible with effective retirement planning. Plan for your future today to live a happy and stable life during post-retirement days.

Views expressed in this article are a personal opinion of Naval Goel – CEO & Founder of PolicyX.com.

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