Outlook Money
The success of financial planning or failure depends on one's financial habits. As financial habits change after retiremen, so, one should keep a strict watch on these.
1.Risks Averse- After retirement, becoming too risk-averse can harm your finances. While reducing risk is wise, investments must still be there. One should make calculated risks to sustain returns.
Generosity after retirement is good, but one should avoid over-giving at the cost of one's own financial security.
It is always good to stay updated with the technology on finances (like UPI, BNPL, IMPS). This is important after retirement to manage any financial failures.
Post-retirement, health insurance is very important, as medical costs rise with age. Letting a policy lapse can make getting new coverage difficult and expensive. One should stay insured to avoid hefty medical bills.
It is very important to note down the changes in financial habits and see what their implications can be on retirement plan.