Retirement doesn’t mean freedom, it generally means the start of a brand new journey. At The Chennai Homes, we have formulated a retirement financial planning checklist for you to work your way through a successful retirement. Take the right decision and form the right retirement financial planning when it comes to your retirement.
1. Set Your Budget
It is important that you work through your retirement budget, keeping in mind the before and after of it for your retirement financial planning. Understand your expenses and know how, must you need for spending. If you haven’t spent time analyzing this, it’s time you do so now.
2. Emergency Savings Fund
Keeping a buffer to sustain is always good and this applies when it comes to retirement too. Make sure you have at least three months’ worth of savings built up. This way you can rely on this for emergency spending.
3. Read About Retirement Income Tax
People generally tend to ignore this important factor and mostly are in for an unpleasant surprise. Know that some of your income may go toward taxes as well and it is important to keep this in mind when you are planning.
4. Look Up For The Best Retirement Investments
There are many retirement investment options available out there and each investment comes with its own positives and negatives. If need be sit with your personal financial planner for the best way forward.
5. How To Create A Financial Plan For Retirement?
A solid financial planning for retirement will sustain you for the long run. It is important that you take a very disciplined approach towards your retirement and also select the most suitable financial plan for retirement in India.
6. What Are Your Health Insurance Options?
Do take a look at your retirement plan and see if you have covered health insurance and medical expenses in it? Medicare usually starts at the age of 65 and usually only covers a percentage of your medical expenses. Include this today if you haven’t’ already done it!
7. Evaluate Your Will & Powers Of Attorney
As one grows older, the biggest problem would be to run away from new diseases and health problems. An iron-clad immune system is a must to help with the nutrition for elders.
Are you retired or retiring soon? Are you looking for a place to invest in?
We at The Chennai Homes Aishwaryam are proud to say that we are known to provide the best luxurious retirement villas! With first-class amenities, this is a perfect place for you and your family to look forward to the best life after retirement! Bring back the vibrancy in your step and invest in The Chennai Homes today! Know what to look in for a retirement home here.
The Chennai Homes – Aishwaryam,
Plot no: 57, East coast road,
Cheyyur taluk ,
Kancheepuram district – 603304
Tel: 044 45513131
Mobile: 99419 95555, 91766-77770