Retirement planning - tips for managing your finances

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To learn more about saving for retirement and how invest conservatively for the long haul please visit: http://proactinvest.net

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Retirement planning - tips for managing your finances

  1. 1. ==== ====Learn about how to save for retirement and get access to a millionaire by retirement Excelspreadsheet at:http://proactinvest.net==== ====After crossing the golden age of 50 years, by adopting progressive lifestyle modifications and alsoavailing modern healthcare facilities, you can actually look forward to live not less than another 40to 50 years. Finding a regular and reliable source of funds is vital at this stage of life to take care ofyour day-to-day expenditure and also to provide for unforeseen expenditures on medical as wellas other emergencies during this extended period. Hence it would be prudent to carry out someretirement planning to secure your financial future.Following suggestions would assist you to manage your financial situation and live comfortablyduring the next innings of your life. These suggestions are in accordance with therecommendations by specialists who deal with wealth management needs of retired persons andaging citizens.Start with a retirement earnings evaluation. It is best to make an effort to sustain 80% of your preretirement earnings to live comfortably after retirement. For this, you can make use of theretirement calculators, available at the websites of quite a few banks and financial institutions, toevaluate your post retirement financial status.In case the assessment by the retirement calculator did not provide you with a rosy picture, startorganizing your finances and save according to your projected requirements.It would be advisable to set aside a major portion of your funds in secure investments such asRetirement Bonds or Provident Funds.You may also take a look at your investments in high risk stocks and think about reallocating aportion to low risk funds, although they pay back significantly less. Alternatively, as per individualrequirements, you may also retain some amount of money in high risk funds, which have theprobability of yielding good returns.If you are not covered for medical expenditure by your employer after retirement, you possibly cannow plan to avail Health Insurance for Senior Citizens according to your payment capacity. Theearlier you begin, the smaller would be the insurance premium. The amount of premium you give ifyou join at 50 would be a fraction of what you would pay at 65.As part of your retirement planning, it is always advisable to plan what you are going to doproductively, following your retirement. You can even think about seeking flexible options fromyour present employer so that it is possible to earn regular revenue in a stress-free manner.In case you have got sufficient funds and pondering the best way to invest it, it would be smart to
  2. 2. consult a trustworthy financial adviser. A knowledgeable financial adviser would be in a position toguide you through your money and wealth management.A proper retirement planning is definitely important to make sure that you have joyful timesthroughout the evening hours of your life. It is hoped that above ideas would enable you toaccomplish it.KV GopalakrishnanSenior Citizens Consultanthttp://enjoyafter50.com/Visit this website for tips and tricks to make your retirement life happy and enjoyable.Article Source:http://EzineArticles.com/?expert=KV_Gopalakrishnan==== ====Learn about how to save for retirement and get access to a millionaire by retirement Excelspreadsheet at:http://proactinvest.net==== ====

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