Planning For Retirement: Here's What You Should Keep In Mind

Outlook Money

Retirement Planning

One must take the right financial steps while planning for retirement, as any wrong step can lead to a mistake.

Retirement Plans

Unplanned Debts

Excess debt especially unplanned debt is bad for one's financial health. So, one must not pile up unplanned debts as repaying them after retirement can make one financially unstable.

Debt Trap

Wrong Information

Health insurance is important for every individual irrespective of the age group. One must not hide any material facts and any other health-related information like smoking, etc., from the insurer. Giving wrong information or hiding facts can lead to rejection of the policy in future.

Information

Overlooking Risk Appetite

Depending on what the age is, one must draw a red line for the risk appetite and must not cross that line while making investments. It’s important to take an adequate level of risk at different stages in life.

Risk

Financial Red Lines

The financial red lines can be changed or redrawn depending on changes in financial goals, income and age. 

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