Retirement planning: The best way to stay safe, save and invest for retirement - Moneylife

Retirement planning: The best way to stay safe, save and invest for retirement - Moneylife

Online comments posted on May 15, 2014:

Great effort indeed. The information needed to 'start early' does not reach the real 'clients' at the right time and even if it reaches, the age group 30-50 just postpone even thinking about future as the savings needed will eat into their comforts. Now that all traditional safety nets are being destroyed or are getting disintegrated(yes, I have defined benefit pension schemes and joint family system uppermost in my mind), there is no escape from creating a well-balanced asset base to support oneself post-retirement or let me put it bluntly, post-job! Though it is not supported by any research, as one who has been watching the happenings in the wages-income-prices areas, my advice to the employed who depend on wages for survival is, save minimum 30 to 40 per cent of current income for retirement, assuming effective service period as 25 years and post retirement span another 25 years. Ideally, savings at a lower level should continue post-retirement, considering the rise in longevity.

M G Warrier

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