7 Ways Women can secure their Retirement Days!

While was on my last business trip I encountered a group of women aged between 58-60. Many of them were working women, who had worked all their lives and now enjoying their retirement in their own style. They are heading to some of the amazing places in India. They’re so happy, they were independent and most importantly they’re free after retirement. And above all, as per my knowledge, all of them are well secured for their retirement days!

Read more
Best Investment Plans
  • Save upto ₹46,800 in tax under Sec 80C

  • Inbuilt Life Cover

  • Tax Free Returns Unlike FD

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Buy Online & Get upto 4% extra#

Your Money is Safe, Secure & Guaranteed

Get higher Returns than Fixed Deposit along with Tax Benefits

+91
View Plans
Please wait. We Are Processing..
Plans available only for people of Indian origin By clicking on "View Plans" you agree to our Privacy Policy and Terms of use #For a 55 year on investment of 20Lacs #Discount offered by insurance company Tax benefit is subject to changes in tax laws
Get Updates on WhatsApp

With a higher lifespan, women need their retirement to be planned strategically. Considering the growing inflation, it is impossible to predict an amount that one will require to enjoy a financially stable retirement. Hence, retirement is what one should consider planning for while working, especially women. In this regard, if you are a working woman and want to set your retirement goals, this article is for you!

Ways to Save for Retirement Days

Let’s consider the below tips to save more for your sunset days. Here you go:

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Save More, Spend Less

Women are famous for spending more than men. They like shopping, travelling, spending on food and so on. There is no harm in indulging oneself, but spending extravagantly on unnecessary things is what could ruin you financially. Don’t spend your entire income on luxury, save for those rainy days as well. You never know when an eventuality can knock; but once it does, you may be unable to protect your savings. So, prepare for that. There are a lot of investment options, Fixed Deposits being one of the most picked choices. You can check FD interest rates in SBI or FD interest rates from other public sector and private sector banks.

Invest in a Good Retirement Plan

Indian financial market is bombarded with various retirement options that you can consider. Some schemes come with tax benefit* as well. Therefore, by investing in them, you can save a considerable amount on tax. The amount invested towards a good retirement plan is taxable, while the accumulated and the withdrawn amount at retirement is tax-free. There are government-owned schemes as well that offer good returns. Keep a track of the market and research comprehensively to ensure the right plan. Fixed deposits are one of the best options that comes with handsome returns. The alluring part is fd interest rates offered for senior citizens is higher than the general category. It may vary from banks to banks.

Investments are Interesting

Gone are the days when investments were considered male domain. With time and advancement of education, today's women also put their money on various investment tools. However, it is recommended to have proper knowledge of the product before investing, as these financial tools are mainly dominated by market performance. Moreover, by balancing with your spouse, you can ensure adequate funds for the future. For example, if your husband is investing in risky assets such as equity, you can balance it by opting for a fixed income return assets, which are safer in nature and also ensure decent returns.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Restrain from Using Your Retirement Savings

Keep your retirement savings separately and avoid using it. In order to avoid this, keep an emergency fund in place to cover those unexpected expenses. Moreover, avoid checking retirement fund too often; this may tend you to spend from the kitty.

Automate Your Payments

It is quite hard to save more for someone with a habit of spending extravagantly. As retirement planning is a long-term investment, it requires you to invest in a responsible way. Given that, if you spend more than you earn, you can’t save for your retirement well. And this won’t suffice your retirement goals. So, if you have invested in a plan or something similar, you should automate your bank account to ensure timely payment towards the retirement plan. With ECS service, you can ensure auto-debut of payments towards a savings scheme without a hassle. This facility is available almost every bank or financial institutes.

Take Help from a Financial Advisor

By consulting with an advisor regarding good perspective on investment will help you plan properly. Moreover, a financial advisor can help you find out the various schemes specially designed for women or how you can invest in your budget. This way you can make your money grow and let your retirement to get a good start.

Never Ignore Your Health

Health is wealth! However, in pursuit of balancing work and family life, women often tend to ignore their health. Go for annual health check-ups or opt for an optimum health cover for emergencies. Regular check-ups will help you avoid bumping into a serious health condition at later age and further will help you enjoy your sunset days happily.

In a Nutshell!

To figure out the actual needs post-retirement, every woman should plan it accordingly. Keeping your family on the top is not a bad thing but women should not forget their properties as well. When a regular flow of income is there, one might not think seriously for retirement. But things would change post-retirement, when there will be no income or one has to be dependent on others. If you too are working and don’t want to spend a life depending on others for every single thing, start planning for your retirement days right away. Let your money to grow in a way that it offers a regular flow of income even after you retire!

Written By: PolicyBazaar - Updated: 19 April 2022
FD Calculator

Total Investment

₹500 ₹10L
Enter Total Investment

Rate of Interest (Yearly)

1% 10%
Rate of Interest (Yearly)

Time Period

1 Year 10 Years
Enter Time Period
Interest Earned
Maturity Amount
Get Higher Return

FD Rates articles

Recent Articles
Popular Articles
Tax Saver FD Premature Withdrawal

21 Jun 2022

Tax Saver Fixed Deposit is a type of fixed deposit scheme. The...
Read more
Axis Bank FD Premature Withdrawal

15 Jun 2022

Axis Bank offers a bouquet of fixed deposit products, which you...
Read more
ICICI FD Premature Withdrawal Penalty Calculator

14 Jun 2022

ICICI offers various fixed deposit schemes which are highly...
Read more
Fixed Deposit Monthly Income Scheme

02 Jun 2022

The monthly income scheme of Fixed Deposit has gained popularity...
Read more
30 Lakhs Fixed Deposit Interest Per Month

04 Apr 2022

If you are planning to invest Rs 30 lakhs in a Fixed Deposit...
Read more
Application for Withdrawal of Fixed Deposit
Fixed Deposits are the safest investment instruments. You invest the amount of your choice as the fixed deposit...
Read more
SBI Fixed Deposit Double Scheme
The SBI Fixed Deposit Double Scheme is named Special Term Deposit to cater to investors looking to double their...
Read more
Bank of Baroda FD Rates for Senior Citizens
Bank of Baroda offers a range of FD schemes to its customers. The interest rate offered under these schemes is...
Read more
How to Claim Fixed Deposit After Death?
Fixed Deposits, FD for short, continue to be the favored and safest investment vehicle for countless Indians....
Read more
Fixed Deposit Interest Rates for Senior Citizens in Post Office
Post Offices have penetrated India’s remotest corners providing banking services apart from their postal...
Read more
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL