A subscriber on Wednesday, 9th March 2011 at 9:38 am
Coca-Cola denies US consumer group’s claim that its colouring ingredient causes cancer; yet the company says it will modify its drinks in India like it has in California
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Pension without tension
The earlier you start, the easier it is to plan for retirement
You’ve worked hard all your life and deserve a comfortable retirement, but planning for retirement has become trickier over time. With people living longer than before (the average retirement now lasts about 20 years), and inflation adding to costs, a lot more planning is required to get your finances in order.
‘The benefit of investing in retirement schemes early is that relatively small regular contributions from your current income will amount to a large corpus at the time of retirement. You can then draw a regular monthly post-retirement income from this accumulated corpus,’ explains Trideep Choudhary, assistant vice president (personal finance) with Financial Planning.
The most common mistake people make is to underestimate their post-retirement expenditure. Trideep says, ‘It is important to factor the effect of inflation into your calculations. An indicative inflation figure would be 7% a year.’ A sound retirement plan should also provide for medical needs, which is of increasing importance as you age. Also make sure you allow for your financial dependants.TO READ FURTHER... Please Login, Register or Subscribe Featured Articles
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