{"id":8834,"date":"2020-04-20T06:29:32","date_gmt":"2020-04-20T06:29:32","guid":{"rendered":"\/blog\/?p=8834"},"modified":"2020-04-20T06:31:24","modified_gmt":"2020-04-20T06:31:24","slug":"how-wealth-management-can-help-you-plan-for-a-secure-retirement","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/wealth-services\/how-wealth-management-can-help-you-plan-for-a-secure-retirement\/","title":{"rendered":"How Wealth Management Can Help You Plan for a Secure Retirement"},"content":{"rendered":"\n

Many times the inevitability of retirement and the importance of retirement planning only\nhit us when we are in our 30s. If you don\u2019t want to work after your retirement\nyears, you have to take some crucial saving and investment decisions when there\nis still time.<\/p>\n\n\n\n

As life expectancy has increased steadily in the country,\nretirees can expect to extend their retirement life 25-30 years. Moreover, as\nthere is a complete lack of any comprehensive social security system or\ngovernment-sponsored plans for private employees, it is even more crucial for\nIndians to have a robust retirement\nplanning system in place.<\/p>\n\n\n\n

Thankfully, Indians seem to have understood its importance. A recent survey by an insurance company showed that close to 55% of the working population in India saves for retirement compared to 39% globally. Also, close to 50% of retirement savings comes from self-savings and investments compared to 30% globally. <\/p>\n\n\n\n

 However, to succeed in\nyour retirement plan, you need to know how to make the right investment\ndecisions. You must know whether ELSS, mutual\nfund investment through a systematic investment plan (SIP), or investing in bonds,\ncorporate fixed deposits, ULIPs, etc. will work for you. Apart from the\ninvestment tools there are several factors that you need to consider for\nsuccessful retirement\nplanning.<\/p>\n\n\n\n

The importance of wealth\nmanagement for retirement<\/strong><\/p>\n\n\n\n

Wealth management offers a holistic, 360 degree approach to your retirement planning by\nassessing your needs, life stage goals and risk appetite. It\u2019s difficult to\nobjectively plan for retirement when you have a job to do or a business to\nhandle and it becomes even more difficult when economic conditions are\nuncertain worldwide.<\/p>\n\n\n\n

A wealth manager can not only help you choose the right asset to\ninvest but guide you along the right path leading to your financial goals. He\nwill help you protect your wealth, minimise expenses, save taxes and help you\ngrow your wealth in a stable and ethical manner.<\/p>\n\n\n\n

Wealth management helps tailor the retirement plan according to\nyour needs. That is why Tata Capital Wealth management\nsolutions are crafted to suit your lifestyle. You can choose from a wide\narray of products across asset classes, including tax-saving mutual fund investment\nthrough ELSS or systematic investment plans\nin equity and debt mutual funds.<\/p>\n\n\n\n

\"\"<\/figure><\/div>\n\n\n\n

How wealth management helps you\navoid the 4 mistakes of retirement<\/strong><\/p>\n\n\n\n

For your retirement planning to succeed, you need to be aware of\na few important things. Wealth management helps you avoid these 3 major\nmistakes of retirement.<\/p>\n\n\n\n

Keep it separate <\/strong><\/p>\n\n\n\n

Your retirement plan is a separate entity from your other\ninvestment plans. It\u2019s a good idea not to mix two different life stage goals in\nthe same financial plan. For example, if you are saving for life after\nretirement, don\u2019t plan to fund your children\u2019s marriage or higher education\nfrom the same corpus. <\/p>\n\n\n\n

Instead, create a separate investment plan for each of these life\ngoals or milestones. Remember that a retirement plan is to help you live your\nlife to the fullest even after retirement. The retirement fund must be able to\nsustain you for the next 15-30 years if you live till 90 years. This is where a\nwealth manager can help you chalk out a fool-proof investment plan. A wealth\nmanager expertly takes into consideration a slew of factors, such as inflation,\nmedical costs, health insurance prices, your risk appetite etc., in order to\nchart the course of a retirement plan that is tailor-made to your needs and\nensures air-tight security of capital at the time of retirement. <\/p>\n\n\n\n

Regular income is a must<\/strong><\/p>\n\n\n\n

Wealth managers advise that instead of withdrawing your entire\nretirement corpus in one go, it\u2019s better to invest in an annuity plan for\nlifelong guaranteed income. Managing a large sum of money judiciously is not\neveryone\u2019s cup of tea and your retirement planning can go haywire if you are\nnot careful. Regular monthly income is vital after retirement and your wealth\nmanager will ensure that you have a guaranteed and stable source.<\/p>\n\n\n\n

Well-planned mutual fund investment<\/strong><\/p>\n\n\n\n

Mutual\nfunds investment through a systematic investment plan<\/a> is a great way to generate\nsubstantial wealth in the long-term for retirement. However, you have to know\nwhen to switch funds based on market forces, life stage and risk appetite. Your\nappetite for risk is higher when you are younger \u2013 this is the time when you\ncan allocate a larger portion of your investment in equity funds. With time,\nyou can lower your exposure to equity and bring it to a minimum before\nmaturity. Wealth manager can help you track market conditions and make switches\nand allocations at the right time and on the right funds to optimize your\ninvestments and mitigate risks.<\/p>\n\n\n\n

Wealth managers have the experience and expertise to help you\nsecure your retirement with well-informed investment decisions and robust retirement planning. They\nunderstand that retirement planning is not a one-size-fits-all solution and it\nneeds to be tailored according to individual needs and goals. <\/p>\n\n\n\n

If you are looking for holistic, reliable and result-oriented wealth management solutions, let Tata Capital Wealth help you with a wide spectrum of products across asset classes, each picked with due diligence after exhaustive research. We aim to provide not just the right solution, but the one that perfectly matches your investment goals. On the Tata Capital website, you can even make use of a handy, easy-to-use investment calculator to plan your retirement goals. <\/p>\n\n\n\n

Know More<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

Many times the inevitability of retirement and the importance of retirement planning only hit us when we are in our 30s. <\/p>\n

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