Outlook Money
Withdrawing EPF before retirement can diminish your corpus. Instead, consider liquidating personal savings or other investments.
Medical expenses tend to rise in old age. So, delaying health insurance cover would be a mistake.
Set up a dedicated emergency fund to tackle any financial emergencies in old age.
PPF offers tax benefits both at the investment and the withdrawal stage. Invest in it early.
The earlier you retire, the bigger the corpus you would need for your retirement. So, plan your retirement accordingly.
Fund management fees can be expensive. Choose low cost investment options to minimise unnecessary expenses.
The earlier you start investing for your retirement, the more time your investments will get to grow.
Don’t ignore inflation. You could end up underestimating the corpus you would need in your retirement years.
Complied by Avijit Gupta