The author, Deepak Yohannan, is CEO of MyInsuranceClub.com, a price and features comparison website for insurance products in India. For related queries, write to him at email@example.com
Gone are the days when retirement was strictly at age 58-60 and people were mentally prepared for the same. When computers have been replaced by iPads and tablets, telephones with mobile phones and multi sim mobiles and then notepads, today’s youth wants everything faster and better and in a comprehensive manner. Hence they even dream retirement at an early age of 45-50 years.
Whether or not they would actually retire so early is completely a personal call or they may even like to start something of their own with the capital accumulated. But, all such plans would only be successful once they have a Retirement Corpus at their disposal. Thus, planning to build up a good Retirement Corpus is of utmost importance and cannot be delayed or ignored under any circumstance.
Most people do not have a proper planning to build up the corpus and hence they fail to save adequately for retirement. However, if you want to build a sizeable retirement corpus, you must invest according to your risk appetite and your horizon of investment. Basically you must start early and review your portfolio regularly but not resort to balancing the same at short intervals.
There are some basic tips which if you follow diligently would surely help you to build your Retirement Corpus and save you the trouble of worrying for the same when it’s actually time for you to sit back and enjoy.