Lead Your Retired Life!
Fund-Matters | March 26, 2022 | Investing, Investment, Personal Finance, Retirement, Retirement Planning, | 0 Comments
Many years ago, about eleven years before I retired, one day a pensioner came to the bank.
“Sir, May I ask you something?”, He asked nervously.
“Tell me, do you need any help?”, I asked, while observing him.
He used to come to my branch for pension for many years. He used to get state government pension. He was working in state secretariat. But today, for the first time, I saw him in such a sorry state.
Upon inquiry, I learned that his son had withdrawn all his pension for alcohol! He left nothing for his parents!
I helped him as much as possible. But when he left, I started thinking….
What will happen to me, once I retire?
Nowadays, retirement is not the end of active life. Improved healthcare has now increased the overall life expectancy of human beings. Many of us continue to lead busy personal and social lives even after retiring from active life. Due to improved healthcare facilities and pensions, retirement is not just about living a frugal, lonely life. Of course, you need to take concrete steps to live a happy and contented retirement life without relying on it alone!
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First, be financially strong!
Your investment planning will now be limited to the money you received after retirement and the accumulated bank balances so far! Therefore, the right mix of investments must be made. It is a good idea to seek the help of an expert in financial planning. Different but safer ways of investing will have to be explored without making all investments in one bucket. Proper investment mix in equity and debt-based mutual funds can give you a good return while ensuring capital protection.
You can choose to have a systematic withdrawal plan (SWP) from your mutual fund investment to earn a regular income.
The most important thing is to keep all your money to yourself till the end. Remember, your spouse, who has been with you all your life, is equally entitled to your money!
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Take care of your health
Try to avoid the situation where most of your money goes for medicines! Not everything is in your hands. Still, it is important to be mentally and physically healthy during this time. Exercise and a healthy diet not only reduces the risk of sickness but also reduces the cost of medical care. Getting proper nutrition through your diet and getting proper exercise are important for a happy retirement.
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Add new people, new friends
Being alone can lead to depression and mental retardation. Learn to enjoy the things you have never been able to do before. Add a hobby. Stay connected with relatives and friends, participate in social events.
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Learn something new
Learning new things keeps the brain active. Your brain, like your body, needs regular exercise. You can learn something you always wanted but never got the time. Retired life gives you enough time to learn new languages, new skills.
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Keep a positive outlook
Openly accept the changes that are taking place in you and the world around you. Doing so will help you stay positive. Don’t think about the bad things of the past. Leave them and move on and always focus on staying calm.
Your mood, attitude and expectations will determine how satisfied you are after retirement!
Thanks
About Author: Mr. Rajendra Mhatre
‘Former Manager at a Nationalized Bank’
