When do you plan to retire?
If you’re thinking “soon”, then consider these factors on what really is the best time to retire, before you take any decisions
But If you’re already retired then, click here to know the simplest ways you could lead a happy retired life by overcoming empty nest syndrome.
Best age to retire is what first comes to one’s mind when talking about the best time to retire. So let’s get our facts straight. In India, the minimal retirement age for retirement has increased from 60 to 62 years by 2018. As the life expectancy of Indians increased 10 to 20 years in just a decade, it’s reasonable that the minimum retirement age has increased too.
Now, let’s go back to our initial question “what is the best and the right time to retire?”
The right time, in fact, depends on your financial & health conditions. And most importantly planning for your retirement is crucial when it comes to determining when to retire. Because at the end of the day, the reality is that whether you can afford to retire or not. Here are 5 key benefits that determines the best time to retire:
1. Check Your Bank Balance –
Like we said already, retirement isn’t free of cost. Everything in this world has a price and retirement being one of the best phases of your life, will cost you more than you thought it would.
Work hard to retire happily and independently, is our way of tackling this. This is where a smart retirement planning comes into play. If you want a carefree and fuss-free life then choosing a right retirement home should be your goal. Save up until it’s enough for this lifestyle, that is likened to a life-long vacation.
2. Find Your Purpose –
Retirement is almost like starting the story anew. You have access to unlimited amount of free-time which means endless possibilities of whatever you want to do. But think of the right questions – Where Do You Want To Do It? With Whom Do You Want To Do It? Find the answers within yourself. Talk to your partner and children. Because if the only reason that you are retiring is to get out of a job, don’t do it. One job is not worth an unplanned retirement life. So wait until you have meaning pursuits that interest you and drives you towards taking that much needed break.
Click here to know more about the best place to retire in India to help you in choosing a place.
3. Your Health Matters Too –
Some might ignore this, because health complications normalised to that extent. But as you grow old, your body and mind weakens to an extent. It does not mean that you aren’t strong or capable because you can live as independently as you want as long you take care of your health. If your health condition needs to be given 24/7 medical attention then it’s wise to opt for assisted living.
Past all the rumours about retirement homes and assisted living, there lies the truth that they are in fact the opposite. Certified and legalized retirement communities like The Chennai Homes are certainly the best in taking care of retired.
Click here to know more about the prejudices against senior living and how to overcome them.
4. Let’s Talk Business –
Investing on a retirement plan is something that would never prove to be a waste. It’s practically an investment on the future.
But it is important to receive advice from professionals on managing your finances the right way. If you’re planning on trips, make sure you have enough to settle down after. Same way, If you’re planning on settling down in retirement homes or independent houses, make sure your health & security supports are up and running, with still a bit left for you to travel. When you buy your retirement asset is also important because the real estate market is never stable.
5. Benefits As A Retire –
Your benefits as a retiree includes pensions and a higher tax exemption limit. In fact, the government aids you as much as they can in making this land a better place for you to live in. There are many government schemes that can help you with your medical & living expenses.
To know more about the benefits of being a retiree in India, click here.
Being a retirement community that has spent years to perfect the way we care for our residents, we’ve learnt one thing. Choice – Something that you make when the right time comes. After all is said and done, taking them all in and finding your own pace and making a successful retirement is your choice. Because guiding is all we can do.
But If you are planning to get the life-long vacation that they all talk about The Chennai Homes – Aishwaryam is your place. With years of expertise, we are a pinnacle of retirement living, making history through exceptional care and service.
Click here to know more about The Chennai Homes and the award-winning retirement living.
Thank you for reading. We hope you are happy and free wherever you are!
The Chennai Homes – Aishwaryam,
Plot no: 57, East coast road,
Cheyyur taluk ,
Kancheepuram district – 603304
Tel: 044 45513131
Mobile: 99419 95555, 91766-77770