8 Mistakes To Avoid When Considering Retirement As A Long-Term Goal

Outlook Money

Withdrawing EPF Before Retirement

Withdrawing EPF before retirement can diminish your corpus. Instead, consider liquidating personal savings or other investments.


Delaying Health Insurance

Medical expenses tend to rise in old age. So, delaying health insurance cover would be a mistake.

Health Insurance

Not Having Emergency Fund

Set up a dedicated emergency fund to tackle any financial emergencies in old age.

Emergency Fund

Ignoring Public Provident Fund

PPF offers tax benefits both at the investment and the withdrawal stage. Invest in it early.

Public Provident Fund

Wrong Corpus for Early Retirement

The earlier you retire, the bigger the corpus you would need for your retirement. So, plan your retirement accordingly.

Insufficient Corpus

Paying High Fees For Fund Management

Fund management fees can be expensive. Choose low cost investment options to minimise unnecessary expenses.

High Fees

Delaying Retirement Planning

The earlier you start investing for your retirement, the more time your investments will get to grow.

Retirement Plan

Ignoring Inflation

Don’t ignore inflation. You could end up underestimating the corpus you would need in your retirement years.

Complied by Avijit Gupta