Personal Finance Advisory Sevices |
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Retirement planning |
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The ‘Retirement Planning’ starts in general with six basic questions viz. When do you want to retire? How much money will you need in retirement? How long will you need the money? What are the sources of money? What are crucial parameters that can effect your retirement plan and how best can you increase your earnings before retirement? The popular approach to start retirement planning in India is opening up an account with ‘Public Provident Fund’, which is essentially driven by a tax-cut fear among investors, and next popular approach is to buy a Life Insurance policy. Both these plans actually take its birth as a tax-savings measures but gradually started acting as a source of post-retirement financing. But, there are several ways of how one can go about his post-retirement planning. There are two ways of looking into these matters. One is the finding of secured income with less return and least tax-burden and the other one is the finding of secured income (not insecure) with a better return and moderate tax-burden with calculated risk. The second way of planning a post-retirement financial independence is not very popular among investors due to lack of awareness and a kind of uncertainty involved in the issue. How do you think of ‘Day- Trading’ as a supportive means to take your retirement plan forward. There are some scrips where the intra-day movements are very high like Infosys or Wipro. You can open a demataccount with any Depository Participant and start online trading at your own. However, it is important to mention that making money in stock market is not an easy task and you must be equipped with a fair understanding of ‘Technical Analysis’ to go for ‘Day-Trading’. As a matter of fact, ‘Day Trading’ is not all about retirement planning but surely it will give you the exposure to a source of additional income which in turn can be used for an investment option of less return and least tax-burden like ‘Post Office Recurring Deposit’. |
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