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3 important aspects of retirement planning

  • Dailybhaskar.com
  • Jan 15, 2013, 14:52 PM IST
3 important aspects of retirement planning
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New Delhi: Retirement is a phase in life, when one retires from active service of a job or business, and gets ready to live a life outside the professional sphere totally. Since this is a phase where the income stops, or rather drops to a bare minimum, it is advisable that the financial planning for this phase is done with extrmeme caution and dilligence. In the effort to do so, here are a few simple steps that will help minimise risk in your retirement portfolio:
 

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Risk of wealth shortfall
 
As simple as the words are, this situation refers to a situation where one fails to accumilate enough wealth that may be needed for the retirement period. The main reason for a situation arriving is due to the 'drain' in the investment portfolio over time. This means the main portfolio, which is yielding a certian pattern of return over time, fails to do so during a particular span of time. Eg: A particular portfolio generates around 15% returns for 10 years, but over the latest 10 year period, is generating loss of almost 10%. This means that the actual yield is just 1% or simply 0% in returns. 

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