Best Ways to Make your Retirement Planning Successful~

Saving for retirement seems to be a similar process as that of dieting. We all are well aware of what has to be done, but actually practicing it is a really tough task. It is easier to make excuses.
You are busy. You have several responsibilities towards your family that keep competing with your ability to save money for your latter years. Furthermore, your remuneration has stagnated in recent past whereas the cost of living is constantly climbing.

Read more
  • Peaceful Post-Retirement Life

  • Tax Free Regular Income

  • Wealth Generation to beat Inflation

  • 4.8++ Rated
  • 10.5 Crore Registered Consumer
  • 51 Partners Insurance Partners
  • 5.3 Crore Policies Sold
We are rated++
rating
10.5 Crore
Registered Consumer
51
Insurance Partners
5.3 Crore
Policies Sold

Start Investing ₹10k/Month & Build a corpus of ₹1 Crore# on Retirement

+91
Secure
We don’t spam
Please wait. We Are Processing..
Your personal information is secure with us
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
Get Updates on WhatsApp

Yet there are many people who are making enough money to save but do not make savings their main concern. A plenty of people actually spend more of their time in researching their next car or planning a vacation than they plan for retirement.

Why is Retirement Planning Must?

Retirement planning helps you lay the foundation stone for your future when you no longer earn any salary. Retirement planning allows you to accumulate funds and grow over the subsequent years so that you have extensive resources to navigate the years of your retirement.

As now you know that retirement planning is an essential step one should take to have a great and secured future, you must know the best ways to make your retirement planning successful.

In order to make a smart and wise choice, you need to read the following ways towards a more fulfilling future:

  • Amplify your alternatives
  • Reality-check of your assumptions
  • Attain distance before making a decision
  • Prepare to be wrong

Amplify your Alternatives:

Whenever you come across an ‘either/or’ situation, get alerted, that is a red flag—there arises a need for you to amplify your alternatives.

You must be thinking that retirement, in itself is a firm decision, either you still working full-time or choose to retire completely.

But you must amplify your options and take part-time work into consideration. During the course of retirement, your primary objectives should be your wish-fulfilment and happiness. You do not have to stop working to attain the set goals.

You may get more pleasure from the retired life if you find a part-time work that lets you earn income while providing the freedom to pursue your leisure time activities.

You must widen your options and think more creatively about your lifestyle in retirement too.

A plenty of people think that making a choice of staying home or moving out to a sunny day to any appropriate location or an exotic foreign climate is what they want. Do not overlook other options, you must stay in your current area; however, scale down to a smaller, low-priced accommodation.

If you do so, you will save money on housing costs and will be able to remain close to your family and long-term friends. This will help you to avoid being alone after retirement.

Reality Check of Your Assumptions:

You assume a lot of things while you get into retirement phase. You make a list of assumptions for every retirement decision. But you must ensure that you take the time to observe these assumptions carefully so that they do not turn out to become a hindrance in your situation.

A lot of people mistakenly assume that they will certainly become happier after their retirement. However, if you do not have any idea of what you will do sitting home or when you will have no job, you could become restless and bored. You will attain happiness as an outcome if you are retiring to activities that you love in lieu of just retiring from a job.

Another mistake that is often committed by you is blithely assuming that your financial resources will be adequately sustained for the rest of your life. It takes almost a boatload of money to get fully retired for around 20 years or more and a plenty of people miscalculate the sum they actually need. Only if you have a pre-estimated amount in your mind, you will get to know what can be afforded by you and how much more money you might need to invest in retirement plans.  

Attain Distance Before Making a Decision:

The sooner you start with retirement planning, the higher the odds that you will find it fulfilling. Ask these five questions mentioned below to you when you think of retirement:

  • What will you do?
  • Where will you live?
  • Who will you spend time with?
  • When will you retire?
  • Why have you preferred to make these decisions?

If you have answers to all these questions, then you can easily answer the sixth question: How much money will you require after your retirement and how will your finances cover that sum?

The earlier you plan to save, the more you make use of magic of compounding. You must be shrewd with your planning.

Prepare to be Wrong:

What if things do not turn out to be the way you planned? In order to face such situations, you must be well-prepared with a Plan-B.

You may have thought that you will have an adequate sum of money for retirement provided that stock market continues to make your wallet grow. But, post-retirement a crash in the market can ruin your best-laid plans.

In order to protect yourself, you need to cover your basic expenses with assured sources of income, like a pension or annuities.

There is no solitary ‘best way’ to plan your secured financial future; rather, there is an entire landscape riddled with peaks and valleys that you might navigate. Hope this article will act as a road map to assist you on your expedition towards a secured financial future.

˜Top plans are based on annualized premium, for bookings made through https://www.policybazaar.com in FY 25. Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

Disclaimer: Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by an insurer.
Pension Calculator
Pension Calculator
How much do you need to save for retirement?
₹ 20,000
₹ 25,000
₹ 30,000
Monthly Expenses in 2025
Edit Done
Your expense go up every year by
Today 2025 Your expenses today in 2023, at the age of 34 Yrs
Your expenses in 2043, at the age of 55 Yrs
For a monthly pension of ₹77,300
you need to invest
₹14,300/month
Calculated as per past performance of 15%
View Plan Recalculate?

Pension plans articles

Recent Articles
Popular Articles
HDFC NPS कैलकुलेटर 2025 : जानें NPS निवेश का अनुमानित रिटर्न

13 Aug 2025

HDFC NPS कैलकुलेटर एक ऐसा
Read more
सेवानिवृत्ति योजना: कैसे करे 2025 में रिटायरमेंट प्लानिंग

11 Aug 2025

देश में बढ़ती महंगाई को
Read more
बैंक ऑफ़ बड़ौदा APY कैलकुलेटर 2025 - गणना करने का सही तरीका

05 Aug 2025

BOB अटल पेंशन योजना
Read more
एचडीएफसी अटल पेंशन योजना कैलकुलेटर 2025 - योगदान और लाभ की पूरी जानकारी

05 Aug 2025

एचडीएफसी अटल पेंशन
Read more
एक्सिस बैंक अटल पेंशन योजना कैलकुलेटर 2025 - पूरी जानकारी

05 Aug 2025

एक्सिस बैंक APY कैलकुलेटर
Read more
Is NPS Considered in the New Tax Regime
  • 17 Jul 2025
  • 18700
NPS is considered in the new tax regime, and recent changes announced in the Union Budget 2025 have made it even
Read more
Buy the Annuity Plans of 2025
  • 10 Dec 2015
  • 224489
10 mins read Annuity plans in India are the financial products that provide you with a guaranteed, regular
Read more
Top 15 Pension Plans in India~
  • 14 Feb 2023
  • 97953
List of Top 15 Pension Plans Overview Basis of Selection Wrapping Up View all content List of Top 15
Read more
50K Pension Per Month
  • 15 Jun 2022
  • 64825
How to Get 50k Pension Investment Options Get 50k Pension Through NPS Benefits of Choosing a Pension Plan
Read more
Sevarth Mahakosh
  • 24 May 2023
  • 126737
The Sevarth Mahakosh Portal is a one-stop digital solution for state government employees and pensioners in
Read more

Claude
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL