Retirement Planning for Senior Citizens| RetyrSmart


money matters




Managing our finances leading up to retirement and in retirement is a very key ingredient that will determine how happy we are in retirement. The financial environment is getting more complicated and more tricky, by the day. You will be well served by delving into as many ideas and thoughts regarding retirement planning & financial management.

We at Retyrsmart, will provide you more information and advice regarding managing money before and during retirement.

In this section you will find articles and blogs regarding Financial Management published on our site since the beginning.

Prosperous Reading !!

Team Retyrsmart .

 

    Activating your internet banking facility in a Post Office

    Post Office Savings Bank is a very popular savings and investment avenue among Indians, especially older Indians. Many of you would have been using the Post Office banking facilities for a long time now and must have seen the progress its been making. Now it is probably comparable with more modern banking. In the piece below are given the steps to get an internet facility activated in a Post Office Savings Bank. .  . . . . . ...Read More

     

    Budget 2019 Income Tax slabs and Cess applicable

    One of the most looked forward to in India’s Union Budget is the announcement of the income tax rates. The February 2019 interim budget had created a lot of expectations of lower income tax slabs given that India was going to the polls soon after. However, there wasn’t that much cheer even though small benefits were passed on to older Indians. Check out the applicable income tax slabs depending on your age as well as the applicable cess in the article below. A quick reminder as we leave one financial year to go into the next.  . . . . . ...Read More

     

    Are our senior citizens aware of the easy banking facilities being provided ?

    The government has been making efforts over the years to make life a lot easier for our senior citizens. While there is still a lot more to be done, its important for our senior citizens to take advantage of facilities already mandated by the government. One such are is that of Banking. There have been efforts to make the whole process of banking smooth and easy for the older people. But the problem lies in awareness. Many of our older citizens are not quite aware of what facilities are available. In the article below the author tries to cover the banking related facilities that our senior citizens should be aware of and should be taking advantage of.  . . . . . ...Read More

     

    Tax saving FD offers convenience, safety and a little liquidity too

    If you still haven't done any tax-saving investment and are looking for a safe and easy bet for saving tax then a tax-saving fixed deposit could be a solution.

    Tax-saving FD is one of the tax saving instruments where one can invest to save tax under section 80C of the Income Tax Act. One can invest in this FD easily by visiting a bank, filling the form and giving a cheque. In fact, if you place the FD in the same bank branch on which you are drawing the cheque then the transfer of funds can happen quickly and the investment can be done within a few hours . . . . . ...Read More

     

    How PPF helps you save taxes and provide in your retirement

    Public Provident Fund or PPF as its popularly known as has been a household name among Indian investors and savers over the years. Even then it’s as good a time as any to remind ourselves , especially with retirement on our minds, of the good things that PPF does for our finances. Read about it in the article below... . .. . .... .... ..... ..... .... . . .. . . . . . . ...Read More

     

    How to get your money to work for you

    Money must help make more money. That's the basic principle with which the experienced and savvy money managers. What simple things can you do to make your money work for you. As you grow older and your earning years are behind you, its even more important to ensure that you work smart to make your money work hard. Check out the ideas below... . .. . .... .... ..... ..... .... . . .. . . . . . . ...Read More

     

    Questions to understand if your Retirement Financial Advisor is the right one

    Moving into retirement supported by a retirement financial advisor can ease the transition significantly. But does this person really fulfil all that you need to make the transition successful. A few questions to adviser can help and that's what this author is helping you with in the following article. .. . .. . .... .... ..... ..... .... . . .. . . . . . . ...Read More

     

    Car insurance renewal tips to save money

    Renewing our car or two-wheeler is an annual routine and most of see it as a chore that needs to be completed somehow. But if we pay attention and spend a little time its possible that even a chore as routine as this could save us some money.  ..... ..... .... . . .. . . . . . . ...Read More

     

    A step by step procedure to activate your NPS

    For a non-finance person fund manager speak sounds like something very alien. That keeps many of us from trying to understand and use National Pension Scheme (NPS) well. This article is a DIY guide to the NPS which will definitely give you a better understanding of investing in NPS.  ..... ..... .... . . .. . . . . . . ...Read More

     

    Budget 2019 pronouncements: Advantage RetyrSmarters!

    In the recent Union Interim Budget presented on 1st February, 2019 the Government of India has announced a number of salutary measures, especially for the farmers and middle class. For the discerning, the Government has continued to be good to the senior citizens too.  .... ..... ..... .... . . .. . . . . . . ...Read More

     

    Making wealth accumulation more meaningful

    Retirement is a time when we would or should play it safe. Are we doing enough to ensure that we manage all potential risks is a big question. The environment and circumstances are changing all the time. So, it's a good idea to take a reality check from time to time. The author here provides an interesting perspective. .... ..... ..... .... . . .. . . . . . . ...Read More

     

    Making wealth accumulation more meaningful

    Wealth is a reservoir we build over our lifetimes. We build it with a combination of hard work, industriousness, ingenuity, astute investments and other factors. Capabilities, risk taking abilities, business sense and people skills may all contribute to one's success. Some of us are more successful here than others and we get to enjoy the fruits of our wealth in our lifetimes. The point to keep in mind is that at least one of the reasons for success is a society that has been supportive and has allowed one to build wealth. Luck plays a role too in one's success. While some build wealth this way, some inherit wealth. .... ..... ..... .... . . .. . . . . . . ...Read More

     

    Tax saving investment options for senior citizen

    Saving on taxes while your investments earn decent incomes is a very happy spot to be in. Especially as a retiree, every bit that you can save goes a long way in retirement. So, what are the best tax saving instruments for you ? This article helps you discover some good options...... ..... ..... .... . . .. . . . . . . ...Read More

     

    Look out for these 3 smart money moves

    Money Management seems much more complex than it actually is. Maybe. There is a lot of thoughts and ideas thrown at you and that doesn't make it any less difficult. As the author of this article says " need to boil down what we need to know -- and cancel out the noise". Read and focus on your 3 moves as you start 2019. .  .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Deadly Sins of Retirement Planning

    All of these retirement planning sins can set you back from achieving important goals. If you have a nagging feeling that you could be doing a better job of retirement planning, check out these seven offenses and learn how to get back on track. .  .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Ideal financial instruments for your retirement investments

    Saving for your retirement is possibly one of the most important financial goals. You need to invest in a good mix of financial products to make sure that you accumulate enough to live a comfortable life after you retire. Your job of investing should not end once you retire, you need to have a good mix of investment products even while living in retirement. .  .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Smart ideas for managing money after retirement

    The beginning of your retirement life does not end the requirement of financial planning. While years of disciplined investment would have led to a sizeable retirement corpus, inflation and tax would continue to threaten its growth. Only a good financial plan and its smart implementation would ensure liquidity and longevity of your post-retirement corpus. That’s the message the author is trying to convey through this article. Read on to understand some money management steps to follow..  .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    SWP to ensure regular income after retirement

    SWP or Systematic Withdrawl Plan is fast becoming the preferred way to generate regular income from mutual fund investments. The author, in the following article, provides more details about setting up a SWP and some inputs on the withdrawl factor.  .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Tax benefits for senior, super senior citizens

    Income tax laws in India have been framed so as to provide senior citizens with the maximum possible income tax benefits. Some significant benefits available to senior citizens (above 60 years of age) and super senior citizens (above 80 years of age) have been discussed in this article. Happy tax saving. .. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    ELSS vs PPF vs Tax-saving FD: Which tax saving investment option is better?

    Inflation and taxes eat into our savings and consequently into the returns we make from our investments. While we have no control over inflation we can definitely look to utilising the tax breaks given by the government very well. This article takes you through 3 good investments that provide good tax savings too. Check out which works best for you.. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Monetising physical assets can help raise cash in your old age

    If you were not able to build up a good enough pile of accessible investments for retirement years, it can be worrisome. But there are ways to monetise your assets. Check out this article below to see what planners advise. ..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Earning money and securing your future with PPF

    The Public Provident Fund is an attractive investment instrument which can be used to secure financial future by salaried as well as self-employed persons. Read more about PPF in the article below..... ..... ..... .... . . .. . . . . . . ...Read More

     

    Avoiding these common mistakes can make for an easier retirement

    Retirement should be the easy part of life, hence why we save and invest so much to fund it, and there are simple ways to make sure your decisions are the right ones from the start. Increased choice brings increased risks, including the possibility of running out of money later in retirement. To stay on top of your retirement, the author, of the article below, cautions you that there are seven common mistakes you must avoid..... ..... ..... .... . . .. . . . . . . ...Read More

     

    7 things to know while buying gold coins

    Gold is something that many Indians buy during festivals. Other than jewellery, we buy physical gold in the form of bars and coins. Many prefer to buy gold coins over jewellery as the former can be bought in denominations low as 0.5 grams. If you too are planning on buying gold coins this festive season, this article here will help you understand the 7 things that you must keep in mind.... ..... ..... .... . . .. . . . . . . ...Read More

     

    FINANCIAL PLANNING: Will and Nomination, serve different but equally important purposes

    HIGH BLOOD pressure can be caused by following a poor diet and eating too much salt. However, blood pressure can be lowered by making changes to your diet and eating the right kinds of food. The following article suggests that adding these seven foods to your diet can ensure healthy blood pressure.... ..... ..... .... . . .. . . . . . . ...Read More

     

    Building a portfolio to fetch you a regular income post retirement

    There are a few things about the PPF that not many people are aware of. Having said that, here are some lesser-known facts about the PPF that can help you make a more informed investment decision.... ..... ..... .... . . .. . . . . . . ...Read More

     

    Interesting facts about PPF that can help you

    There are a few things about the PPF that not many people are aware of. Having said that, here are some lesser-known facts about the PPF that can help you make a more informed investment decision.... ..... ..... .... . . .. . . . . . . ...Read More

     

    5 ways senior citizens can avoid being mis-sold an insurance policy

    To avoid being scammed out of their hard-earned money, here are insurance products senior citizens should steer clear of at all cost... ..... ..... .... . . .. . . . . . . ...Read More

     

    10 Investment options for regular income post retirement

    Retirement brings the onset of the winter of life. You are no longer in active service, there is no regular source of income and even your health may start failing. But proper financial planning can ensure a steady flow of income in post-retirement years, say experts. The article below helps you with 10 investment options that will stand you in good stead in your retired life.. ..... ..... .... . . .. . . . . . . ...Read More

     

    Now buy insurance to protect yourself from cyber frauds

    You like the convenience of online financial transactions but are wary of the risks? You can now buy insurance to protect yourself from cyber frauds. Bajaj Allianz General Insurance and HDFC ERGO are offering such covers. ..... ..... .... . . .. . . . . . . ...Read More

     

    How to get regular income after retirement

    A retirement investment plan that is a mix of products like small saving schemes, mutual funds and reverse mortgage can assure a steady monthly income for senior citizens. The article below gives you a birds eye view of what kind of investments can help you yield some regular income after retirement..... ..... .... . . .. . . . . . . ...Read More

     

    What will happen to your physical shares after December 5, 2018

    What will happen to your physical shares after December 5, 2018 ...By Uma Shashikant

    Not too many years ago, stock broking in India was predominantly a family business. While those who were good in maths handled the numbers, and those with attitude did the trading, the families also had a laggard who ended up working as the “Patavat boy.” This was an extremely responsible position, though the job itself was menial in its description. One had to carry bundles of share certificates to the stock exchange, sit down on the floor, verify the lists and hand over physical share certificates to the stock exchange, sit down on the floor, verify the lists and hand over physical share certificates as settlement.
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    When should investors sell their mutual fund holdings?

    Every saver knows that there are numerous mutual fund schemes and choosing a suitable one to invest in can be a difficult task. Everyone also has a way around it. They either seek the help of advisers or websites or just ask around. However, there's actually an even more difficult choice that investors face-which funds to sell off and when. In the article below the author tries to help investors understand logic of selling mutual funds from one's portfolio.... ..... .... . . .. . . . . . . ...Read More

     

    Why it's important to keep investing throughout retirement

    Retirement is not an end but the beginning of a journey. In that context its important that you consider investing your hard-earned assets/savings through retirement. This article builds a case for not taking an extreme step of moving into lower return assets when you retire... ..... .... . . .. . . . . . . ...Read More

     

    Debt Mutual Funds: What you need to know

    Cricket runs in the blood. It really is true for so many of us who enjoy the game and the pleasure of following cricket has been passed down the generations. But its even more interesting when we see the cricketing skills being passed on in the family across generations and shared across siblings. Take a look at some of the most famous cricket families across the cricket playing countries.. ..... .... . . .. . . . . . . ...Read More

     

    How a retiree started investing at 77 and built a fortune in 12 years

    Cricket runs in the blood. It really is true for so many of us who enjoy the game and the pleasure of following cricket has been passed down the generations. But its even more interesting when we see the cricketing skills being passed on in the family across generations and shared across siblings. Take a look at some of the most famous cricket families across the cricket playing countries.. ..... .... . . .. . . . . . . ...Read More

     

    Post office savings schemes still have a lot to offer

    Post Office Savings are some of our more traditional savings forms in India. They still are a good option to consider depending on your specific requirements. Some of post office saving schemes also offer income tax benefits under Section 80C of the Income Tax Act making them more attractive as savings options... . ... .... . . .. . . . . . . ...Read More

     

    Save taxes with better understanding of capital gains

    "Nothing is certain except for death and taxes." This article is about taxes. And more specifically capital gains taxes. As we age and start downsizing or start creating equity, sales of assets is inevitable. The article below helps you understand capital gains taxes that invariably accompany such sale of assets.. . ... .... . . .. . . . . . . ...Read More

     

    Invest in Equity MFs for investment income to beat inflation after retirement

    During decades of retired life, inflation destroys the value of your savings relentlessly. Many people find that their savings are not enough. Eventually, at some point, they realise that they are running out of money. Nothing is worse than a long period of old age, where an old couple gradually loses prosperity and then faces poverty. Yet, all around us, we can see many senior citizens in a similar situation. . ... .... . . .. . . . . . . ...Read More

     

    5 evergreen investment tips towards long-term wealth creation

    There are just a few principles which are at the core of managing your money. Its often presented in different contexts. The more different they are the more same they eventually look like. Even so, it’s always good to remind oneself about the “evergreen” principles. ... .... . . .. . . . . . . ...Read More

     

    Money Issues Families Are Reluctant To Talk About

    It may be quite safe to assume that most of us reading this page must be having children in their 20s and can be considered to be old enough to understand money and its implications thereof. Given that we have to ask ourselves whether we have been discussing money matters openly within our families. The article below tells you the importance and advantages of open discussions and how its absence can cause problems later... .... . . .. . . . . . . ...Read More

     

    Use SWP for tax-efficient regular income from mutual funds

    As retirees, many of us living off the investments made with the hard earned earnings from our active working life. Its important therefore to make the investments provide you well for a longer period. So ideas to make that happen are always welcome. See if Systematic Withdrawal Plans from mutual funds is the best way to do that. Read on. .. . .. . . . .Read More

     

    Money matters for and during retirement

    With Money matters are always a challenge. More so after retirement. Here are a few thoughts that can serve you well in managing money for and during retirement.. . .. . . . .Read More

     

    Concerned about financial stability after retirement? Check out these useful tips

    With inflation going up and everything becoming expensive, just saving for the future might not be enough. That said, you need ways to make sure that you are financially stable and independent post-retirement as well. Below are 5 ways to be financially independent post-retirement... . .. . . . .Read More

     

    Post Office Saving Schemes can still make sense depending on your risk profile

    Post office saving schemes carry the least risk among all investment options.
    Looking for risk-free investment avenues which are ideal for tax saving too? Post office saving schemes such as PPF, NSC, Senior Citizen Savings Scheme, Post Office Fixed Deposit and Kisan Vikas Patra are some of such options which you may consider. In fact, in these uncertain times when hardly anything is certain and getting fixed returns on investments seems to have become a thing of the past, post office saving schemes are good for generating wealth, although returns from them may not meet your expectations.. .... . . . . . . . . ...Read More

     

    Post Office Saving Schemes can still make sense depending on your risk profile

    Post office saving schemes carry the least risk among all investment options.
    Looking for risk-free investment avenues which are ideal for tax saving too? Post office saving schemes such as PPF, NSC, Senior Citizen Savings Scheme, Post Office Fixed Deposit and Kisan Vikas Patra are some of such options which you may consider. In fact, in these uncertain times when hardly anything is certain and getting fixed returns on investments seems to have become a thing of the past, post office saving schemes are good for generating wealth, although returns from them may not meet your expectations.. .... . . . . . . . . ...Read More

     

    Six Retirement Investment Strategies That Actually Work

    Investing in and retirement calls for a focussed outlook. Typically retirement funds are not getting added to and at the same time the available funds have to deliver adequate returns with lower risk over a longisg period of time. Take a look at the pointers provided in the article below. .... . . . . . . . . ...Read More

     

    So much to learn about Annuities

    Anyone close to retirement or actually retired would have have been hearing a lot about Annuities. But how much do we really know about annuities. .... . . . . . . . . ...Read More

     

    How much do I need when I retire ?

    How much do I need when I retire ? This is an eternal question that most people who think of retirement have. There are various ways to address this. In the article below, the author urges you to look at it from an estimated expense point of view.... . . . . . . . . ...Read More

     

    Don't let these mistakes ruin your retirement

    These are common mistakes most of us make with our investments. But they have the power to ruin your retirement. Here is a timely reminder of what to look out for as it would best apply to where you reside. Readers can make a note of these and see how best they can avoid making theml.... . . . . . . . . ...Read More

     

    Lower taxes help you enhance your health insurance more economically

    If you are 60-plus in age, the new financial year promises more tax savings for you. One of the ways to make use of the additional benefit is to buy a health insurance policy or increase the cover if you already have one. Premiums for a health insurance policy qualify for tax deduction under section 80D of the Income-tax Act. Till the previous financial year, 2017-18, the limit was Rs30,000 for senior citizens, but from this year it is Rs50,000. Also, till FY18, only the very senior citizens (80 years and above) could claim deduction on account of medical expenditure incurred in the absence of a health insurance policy. However, from this year, the same option is extended to senior citizens as well.... . . . . . . . . ...Read More

     

    Useful tips to stay safe from scams that can cost you money

    As we grow older we are more vulnerable to being scams especially financially scams. Team RetyrSmart would like our readers to be extremely alert to guard against scams of any type and have extracted a list of very useful tips that can help you stay safe... . . . . . . . . ...Read More

     

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