Every individual dreams of a secured and purpose worthy retirement. We can help you plan for both the essential as well as lifestyle expenses you may incur. Not only leaving aside a legacy but also reducing dependency and vulnerability from the unexpected. That would be a perfect retirement.

Retirement Life Style Stages:

There can be 3 stages in a person's retirement life:

Retirement Age

At this stage, one must consolidate things and look at steady income and hence take the following actions:

• Organise & Consolidate Finances – One must consolidate finances to have a peace of mind:
• Inform a beneficiary of legal or financial records, PIN numbers, passwords and other information
• Throw out old paper statements or bills. Shred the discarded documents to keep them out of the hands of identity thieves
• Maximise Savings – Living of savings is one of the most important decisions one takes and thus its maximization is important too:
• Become aware of any changes in tax laws — they may affect your portfolio if, for example, long-term capital gains rates rise or fall
• Make sure you have at least a six month cash reserve
• Determine an appropriate withdrawal rate for your assets with your financial advisor
• Manage Investments – to support throughout a long retirement process, one must manage investments properly:
• Review your risk tolerance and asset allocation
• Adjust your portfolio to ensure that it's still diversified
• Contact your financial advisor to help you with your investments
• Balance Retirement Income & Expense – Managing expenses with savings and ncome is an important aspect to look into:
• Identify your sources of income and know when you can withdraw from the various accounts
• Track your expenses to be sure your retirement savings will last through a long retirement



Near Retirement - Less than 10 years away:

At this stage one must look at mobilizing savings to achieve objectives:

• Organise Finances – Getting organized is an important path to move towards retirement. One must look at doing:
• Inform a beneficiary of legal or financial records, PIN numbers, passwords and other information
• Throw out old paper statements or bills. Shred the discarded documents to keep them out of the hands of identity thieves
• Maximise Savings – To save maximum amount at this juncture is important. One must look at the following steps:
• If you're age 50 or older, make catch-up contributions to applicable accounts
• Set up automatic contributions to your retirement plans
• Review your savings plan with your financial advisor
• Manage Investments – Decisions about retirement are important and one must look to:
• Review your risk tolerance and asset allocation
• Adjust your portfolio to ensure that it's still diversified
• Discuss a retirement income strategy with your financial advisor, including a withdrawal plan
• Define Expectations – One must refine retirement goals and expectations to include:
• Begin to think about when you can officially retire
• Write down your goals for retirement and review with your financial advisor
• Think about family obligations and take into account that you may support aging parents or adult children



Far from Retirement - 10 or more years away

• Maximise Saving – The most important aspect while planning for retirement is to make your money work as hard as you do:
• Contribute as much as you can, as often as possible
• When you get a pay raise, consider increasing the contribution to your accounts before you get used to the extra money
• Set up automatic contributions to your retirement plans
• Take advantage of employer matches if given the opportunity
• Manage Investment – This is to build your portfolio to achieve the objective:
• Assess your risk tolerance and asset allocation
• If you are tempted to pull out of the market, first consider your investment time horizon
• Make sure your investments are diversified, especially if your employer plan includes company stock
• Define Expectations – Retirement goals and expectations need to be defined to build a corpus:
• Write down your goals for retirement to give you an idea of the lifestyle you're saving for
• Discuss how you might handle unexpected events with your family and financial advisor
• Think about when you might like to retire and check in with your financial advisor to discuss your retirement plans
• Building a Corpus – The savings today will form a part on how we will save for future:
• Understand how you'll receive income in retirement so you can plan your savings and investments accordingly



Other Retirement Considerations:

• Choose & Organise accounts – Keeping a note of the savings one has for retirement and understanding the retirement account options is important. Better management of finances can simplify planning and provide peace of mind and help make better long-term investment decisions:
• Understanding retirement accounts: IT is imperative to know about a hoist of retirement options, like NPS, EPF, PPF, Retirement Plans from Mutual Funds, Insurance Annuity Plans among others
• Retirement checklist: Tips to help you organize and manage your finances