Retirement Planning
Create A Blueprint for Your Golden Years!
What is
Retirement Planning?
Retirement planning entails making plans now for your future so that you can continue to achieve all
of your objectives and aspirations on your own. This include deciding on your retirement objectives,
calculating how much money you will require, and making investments to increase your retirement
savings.
When you start earning, retirement planning is not an immediate concern. It may be reasonably easy
to put it off till a later time in life. Nonetheless, you must remember that it is always in your best
interest to be prepared. There may be many life events that are out of control, but the least you can
do is prepare for them in financial terms. The same is true for retirement planning.
Each of us has an idea of what our life will look like after retirement. No matter what it is, it requires
ample financial support to maintain your standard of life. Retirement planning simply means setting
income goals for post-retirement life and determining the steps necessary to achieve them.
Why is Retirement Planning so Important?
Retirement planning allows you to sock away enough money to maintain the same lifestyle you
currently have. After all, no one wants to work right up until the end. While you may work part-time
or pick up the odd gig here or there, it probably won’t be enough to sustain your current lifestyle. And
Social Security benefits will only take you so far. That’s why it’s so important to have a viable plan that
allows you to get the maximum amount of money when you retire.
Benefits of Retirement Plans
Regular Income After Retirement
Guaranteed
Life-long Income
Safe and Secure Investment Without Market Volatility
Customizable as per your Needs
Tax Benefits
on Investments
When Can You Retire?
Fin System Can Help You Determine a Comfortable Retirement Date.
Do you catch yourself asking, “I wonder at what age I can retire?”
Do you catch yourself asking, “I wonder at what age I can retire?”
At Fin System Advisors, we help you answer that question. And if the answer is “not soon enough”
then we will provide retirement planning advice to help you get on track.
Is early retirement your dream? Based on your current investments and investing strategy, how likely
is it that this dream becomes a reality? That’s where financial planning for retirement comes in.
Your retirement date is based primarily on when you will have sufficient assets to provide the income
to meet your needs for the rest of your life. A bear market can force you to put off retirement or run
the risk of outliving your money. A financial advisor can help you build a plan focused on protecting
principal, minimizing losses, and enabling you to retire on your own terms.
Plan Ahead for What's Ahead
Is your retirement plan on track?
How to Plan for Retirement?
Identify the Gap Between Where You are and Where You Want to Be
Daydreaming about retiring can be inspiring, but thinking about retirement is different from planning
for retirement. Every retirement plan has to balance three main goals:
- Maximize your enjoyment of retirement
- Manage the risk of outliving your income
- Manage the risk of unexpected life events and investment risk
The difference between the annual income you need and your retirement income is your gap, and
that’s what needs to be solved with your savings and investments, including real estate. Retirement
income is usually defined by pensions. You may have a handle on current expenses, but many expenses
change in retirement, like health care, long-term care, and travel. The gap between income and
expenses may give us an idea of the annual income you will need in retirement. The gap gives your
personal financial plan a clear objective for your investment portfolio, which may also include real
estate.
A general rule of thumb is that you’ll need 60-90% of your pre-retirement income, but that can change
for every person, which is why we will create your personal financial plan and customized investment
portfolio.
Financial Advisors for Retirement Planning
Stop dreaming, Start planning and talk to a FIN SYSTEM advisor today about creating your own retirement plan!
Stages of Retirement Planning
Retirement planning is not a sudden decision. It requires meticulous planning and various steps to
ascertain financial security in the future. One must consider many factors to enjoy a smooth and
comfortable retired life. Here are the stages you must follow:
Start Investing Early
The best way to make your retirement hassle-free is to start investing early. Avoid waiting to start saving money. Not saving enough time can make it impossible to catch up later.
Have an Emergency Fund
An emergency fund is one of the best ways to ensure an emergency fund. Whether it is a job loss or a medical emergency, unexpected financial expenses do not come with a warning. Having an emergency fund does not overwhelm you with sudden expenses.
Have an Expenses Account
Keep a separate expense account for all your expenses after retirement. It will not allow you to dip into your savings or other funds account, thus saving you money.
Know your Retirement Needs
However, the rules of retirement planning for the retired life are only sometimes about money and investment. The first thing you need to do is figure out your monthly and annual expenses. You also need to set aside money for emergency expenses and recreational expenses. Invest and plan accordingly to achieve your financial goals.
Frequently Asked Questions (FAQs)
Certain milestone events in life require significant financial planning, such as marriage, childbirth,
education, home loan, or car loan. It depends on the nature of your income and lifestyle how much
you can allocate to these expenses. Remember to layout a financial plan keeping inflation in mind.
Your retirement planning is as essential as any other expense in life. You do not want to reach an age
where the income source is compromised, and you have to make harsh compromises. However, take
into account the urgency of other expenses in terms of your savings.
Unlike the salaried people, self-employed people have a different retirement planning approach since
they do not have an EPF. Depending on your profile, you must try to expand the investment portfolio
with PPFs and mutual funds. However, keep in mind to have a specific financial instrument for a
particular goal and not mix them.
What Our Clients Say About Us
I have been associated with Fin System for the last 4 years, and it’s been an absolute pleasure
connecting with its financial expertise. They are honest and transparent in all their dealings and
advice. All the staff are extremely knowledgeable about the topic and always take the time to
explain every financial choice to me. I have complete faith in the Fin System staff and am
sincerely appreciative of my friend for introducing it to us.
I have been investing through the Fin System for many years now, and I really appreciate the
professionalism. Their representative provides the most appropriate solutions. Always
available to help, and great post-sales services. Now my daughter is associated with them
digitally. Thank you for this bond!
I have been associated with Fin System for many years, and there are no second thoughts before
reaching out to Fin System staff for input and guidance regarding investment and portfolio
management. They make sure to take that extra step and effort to ensure you benefit, and they
are always available to reach out in any case of hesitation. The staff is very calm, humble, and
knowledgeable enough to answer all our queries. I highly recommend Fin System for all your
investments and to help manage your portfolio.
I was feeling overwhelmed by my finances, and I didn't know where to start. One day, my
brother suggested approaching Fin System. I immediately approached them and explained my
financial situation. They took the time to understand my financial situation and my risk
tolerance. Then they helped me create a comprehensive financial plan that met my individual
needs and goals. They also explained the different investment options available to me and
helped me choose the ones that were right for me.
I would highly recommend Fin System to anyone who is looking for a financial advisor. They
are very knowledgeable, experienced, and committed to providing personalized service.
I have known Fin System Relationship Managers for a long time. Though I used to go for ELSS
investments every year due to tax-saving purposes, they used to guide me on all sorts of
investments that would be helpful for my financial benefits. More than the financial advice, the
best thing about Fin System staff is the personal touch they bring to the relationship. Be it a
birthday or any Indian festival, there will be a message from them. These are the small things
that make them different from a lot of other financial advisors with whom I have been
associated for the last 15 years. I wish all the best for Fin System in its future endeavors.
Looking forward to many more years of relationship.
