Retirement Plan: Why You Need - Bima Deals

1
Retirement Plan Why I Need It?
2
Many of us do not give it a thought that how
would be the situations when we wont have a
regular source of income and added medical costs
to our routine expenditures due to age factor and
to top it all the rising inflation
rate.The question every individual needs
to ask from his/him own self is why do I need a
Retirement/pension plan?
3
Multiple Valid Answers Would Come To Your Mind In
The Forms Of Question Again Such As

• How would I manage my routine basic expenditures
  when source of income stops?
• What would I do if I get ill which is very
  likely to happen in old age.
• What if I want to get some gifts for my
  children, grandchildren or some relative?
• How would I please my spouse in those golden
  years for not having any money to go for
  lunches/dinners or buy something to her?
• And many more...

4
Retirement plans are the best option to pool in a
certain amount when youre working and can afford
to pool in some money monthly or yearly for those
golden years when source of earning stops but
dignity matters a lot.
5
Other Causes To Plan Your Retirement In Time

• The average Indian age span has increased from
  65 to 85 in the past two decades. Thanks to the
  medical facilities!
• Age grows and so the need of medical care. As a
  result, the need for a hefty amount arises.
• After the year 2003, Indian government has
  stopped providing pension facility to the
  employees employed after that period.
• Your private employers do not provide you any
  such facility to help you in need when youre
  retired.
• The inflation rate would increase your monthly
  expenses even if youre stuck to your current
  lifestyle and continue with the similar needs as
  today.
• For eg. If a person spends 25,000 a month today
  to meet his basic requirements, assuming an
  inflation rate of 7, hell need 1,36,000 a month
  to meet his similar expenses over a period of 25
  years.

6
When Is The Right Time To Plan My Retirement?

• Early you start, better you get
• You should plan your retirement at the age of
  25-30 years as that is the time when youre
  healthy enough to avoid emergency medical
  expenses. Moreover, youth is the time when you
  can work hard and earn extra to meet your
  additional expenses. Start pooling a fixed amount
  monthly to build your corpus before you retire.

7
How To Choose A Best Retirement Plan?

• Look for a plan that has low allocation charges
  to put more of your money to your investment
  pool.
• A plan that provides good returns and beat
  inflation rate.
• Protects your hard earned money from market
  oscillations.

8
Thanks for Watching !

• For more info about pension/retirement plans,
  Visit us at
• http//www.bimadeals.com/compare-pension-plan-comp
  anies.php