Retirement is something we all dream about and work towards from the first day at our job. It can be some of the best years of life with freedom from the bonds of a 9-5 job, allowing you to explore the world. However, your retirement can only be as good as you work for it in your younger years. The optimum age to retire would be from the late 50s to early 60s as that would give an individual 20-30 years to skillfully and successfully plan their retirement, while also enjoying their lives in their 20s and 30s. 

 

How to be financially stable after retirement?

Financial stability is a major concern for individuals dreaming of retirement. Unless you are running a corporation (even then), you need to put thought into your retirement savings. While many believe saving money in bank accounts, as a bond, etc., can build towards a retirement fund, real estate investment is a better option. 

Smart investment in properties in Pune or the stock market from an early stage, along with savings, can contribute a lot towards financial stability post-retirement. 

 

Why you should plan your retirement 20 years before retiring

Saving up enough money to make sure you have a blast post-retirement will take time, effort, and smart investment. When it comes to investing in Pune real estate, the earlier you start, the better. 

20 years before retirement is the optimum time to start thinking about retirement funds. Doing so gives you enough time to enjoy your life and plan the future of your loved ones while securing your retirement. 

If one of the ways you are securing your retirement plan is through mutual funds, insurance, fixed deposits, and savings accounts, you would need a minimum of 10 years of payment period to reap a significant amount during the maturing period. Therefore, planning for retirement 20 years before retiring is the best way to go. 

 

Smart plans to enjoy retirement.

Planning for retirement can be overwhelming if you don’t know what to do or how to do it. Here are some smart plans for you to enjoy your retirement:

 

  • Know your goals and expenses: One of the first steps of planning retirement funds is knowing what your goals are and expenses will be in the golden years. Accordingly, you can invest in real estate in Pune. When predicting your expenses, be sure to include medical emergencies, loved ones’ futures, etc., to avoid being blindsided. 

 

  • Learn about employers' retirement plans: Find out if your employer offers retirement plans or not. If they don’t, explore your pension options from private sectors. Many financial institutions today offer a variety of retirement plans for individuals.

 

  • Save and do not touch it: Saving a portion of your salary every month is one of the most fundamental ways to create a retirement fund. However, be sure to never withdraw from your retirement savings, for you will lose interest. 

 

  • Learn to invest: Investing your money into something that can give you long term dividends and returns is something you should be considering when planning your retirement. Learn the basics of real estate investment and diversify your portfolio over time to reduce the risk factor. 

 

Retirement- Property Investment

When it comes to investment, property or real estate is one of the most common choices. They involve moderate levels of risk but have the potential of providing a steady income in the future. One of the best places to invest in real estate in India is Pune. With its proximity to the commercial capital of the country, Mumbai, properties in Pune are in high demand. Moreover, Pune towns like Talegaon Dabhade are seeing a lot of investments in real estate. This is good news for property owners as they can easily reap benefits from the interest in Pune properties. 

 

Benefits of real estate investment

Low risk: After retirement, one generally needs low-risk investment options. While bank deposits are least risky, the returns are not comparable to real estate investment. Not only is investing in real estate less risky but also the returns from it are higher. Be it renting a house in Pune or a commercial space, there is a lot of monetary gains.

Diverse sources of income: Investment in real estate can diversify your portfolio. This means you can always rely on one source of income if the other does not pan out. After retirement, such a reliable source will come in handy. 

 

Here are a few tips to fuel your retirement plan with property investment: 

 

  • Buying and renting: One of the best ways to invest in property is by buying properties first, say in Talegaon Dabhade, and renting it out later. However, this would require a significant amount of upfront money and finding suitable tenants. 
  • Buying and selling: In this method, you buy the property and sell it to a third party. For instance, if you own land, say in Talegaon Dabhade, Pune, that interests a property builder, you can sell it to for an amount or in exchange for ownership of a flat in the constructed building. 
  • Fixing a house and selling: This is an option not many entertain due to the high risk involved and the need for a lot of cash. You can buy a house in Pune and renovate it before selling it or renting it out. The only way this option can bring you money is if your property is in a lucrative area. 

 

We all deserve a heavenly retirement, and it is in our hands to build the same. So, when are you starting to plan?