A vast majority of Indians don’t undertake retirement planning. For the young, it’s not a priority. For the older generation, it is perhaps intimidating. In a conversation with Moneycontrol, Ravi Saraogi, a SEBI RIA and Co-founder of Samasthiti Advisors, talks about how to formulate a basic retirement plan and the key factors to consider. Listen in
Withdrawing from retirement corpus: Retirees frequently utilize the 4% withdrawal rule to manage their expenses in their later stages of life. Its primary aim is to maintain a steady stream of income while also preserving an ample amount of funds for the future. Adhering to the 4% withdrawal guideline can notably diminish the possibility of depleting one s savings prematurely, thus increasing the chances of financial stability throughout retirement.
The ICICI Prudential Life Insurance in a statement said that the savings scheme offers customers safety of the capital invested, complimentary health check-ups and make partial withdrawals.
Retirement corpus: The three bucket retirement planning strategy helps manage changes in the market while taking out money. It helps retired people meet their financial needs at different stages of retirement.