What is the correct signal of starting a retirement plan investment? When you have to start and how to start. Whom to take advice from and how much to invest are some of the questions that trouble one during his course of employment and this fear is not inappropriate as after retirement, your source of income is over and you become dependent on others. This may happen if your plan is not right so what is the correct signal to start a retirement plan?
A retirement plan depends on many factors. Liabilities, cost of living, deposits, assets, are some of the factors which are taken into account while making a retirement plan. The most turbulent factor is to guess the future rate of inflation of the economy. Even best of your plans may see a shortfall in the course of time. However, keeping one's lifestyle in mind, the planning should be such that, if the situation remains favorable one could lead a stable life as before without making compromises.
Based on my experience, preparing for retirement at age 40 is just right. When your focus is set on your retirement, you tend to forgo some things for enjoyment because saving is your priority. What if you die tomorrow? That’s a good question that is hard to answer. My motto now is to enjoy life although in moderation only. With the preparation for retirement, that should also be the case – do it in moderation and you still live your life to the fullest. Just don’t splurge and you will be fine with your retirement preparation.
