It's a widespread belief that retirement planning should start the moment you begin earning. It is a fantastic advice but you might not follow it?
Save Particular amount for retirement: a significant principle of fiscal planning is simplest to follow. You can get retirement advice via https://www.foxgroveassociates.co.uk/individual-clients/retirement-planning/
In the event you've got a normal occupation, then, roughly 12 percent of your basic salary and the equivalent participation by your company you conserve since your Employee Provident Fund (EPF) account.
Enjoy this quantity or raise your participation if at all possible. A small increase things, and will assist you in your preparation.
As an example, if you improve your savings to make it 20 percent each month, you may collect lacs of rupees additional by the time you retire.
Keep your Corpus Safe: Whenever you switch job, your retirement planning get hit and is at risk. The reason is your provident fund withdrawal option.
Whenever you change job you have the option of withdrawing the amount of transfer it to the new employers account. Other than this you also have a choice of withdrawing the PF money.
If you need it for any purpose like marriage, house or a medical emergency. Using this money, will interfere with your retirement corpus to accumulate. So let this be your last options in case of need. However, if you do withdraw your provident fund.