Retirement planning is about finding an alternate income source and planning for certain lifestyle changes to make retirement hassle free. Lets findout:
Making a Practical Budget
One should create a budget for the future including expenses, savings and investments.
Defining Goals and Ways to Achieve them
The goals need to be defined on retirement along with the probable ways to achieve them.
Lucrative but safe options such as Fixed Deposits help to build a substantial corpus over the considered tenure.
NBFCs offer senior citizen fixed deposit interest rates of the range of 8.20% which is quite high. An FD Interest Calculator helps in assessing the final income.