Retirement Plan
A Retirement Plan is your financial roadmap to a secure and comfortable retirement. It’s a comprehensive strategy that helps you build a financial cushion for your post-retirement years, ensuring a worry-free life.
Momentum Finserv Retirement Plan
Benefits of Early Retirement Planning
Retirement planning offers a host of advantages, both financial and personal, including fostering financial discipline. Here’s why it’s crucial to start your retirement planning early with Momentum Finserv:
- Fulfill Your Retirement Dreams: Retirement is your time to pursue interests, explore new places, and savor a relaxed and comfortable life. Early retirement planning ensures you can effortlessly provide for your needs, healthcare expenses, and live the retired life you've always envisioned.
- Harness the Power of Compounding: The earlier you commence planning and saving for retirement, the more you can benefit from the remarkable power of compounding. It significantly boosts the returns on your earnings. Utilize our retirement calculator to craft a tailored retirement strategy that maximizes these advantages.
- Tax Efficiency: Retirement planning also offers tax benefits, both during the accumulation phase and when enjoying the returns after retirement. Premiums for retirement policies qualify for tax deductions under Section 80CCC of the Income Tax Act 1961, subject to provisions therein. Additionally, upon reaching vesting age, you can receive up to a third of your retirement savings as a tax-free lump sum under Section 10(10A) of the Income Tax Act 1961, subject to specified provisions.
- Combat Inflation: To ensure that inflation doesn't erode your dream retirement, systematic investing is essential. It enables you to accumulate a substantial corpus, ensuring that all your dreams and aspirations are met, and you can live a comfortable and worry-free retired life.
- Longer Life Expectancy: With rising life expectancy, it's crucial to save for a longer retirement. Thoughtful retirement planning is indispensable to support a lengthy and prosperous retirement with sufficient financial backing.
Tips to Choose an Appropriate Retirement Plan
Age of Retirement
Decide when you plan to retire. Early retirement is an option, so you need a solid corpus to maintain your lifestyle for an extended period. Use our retirement fund calculator for a precise estimate.
ROI during Earning Years
Starting early helps accumulate more for retirement. While young, your risk tolerance is higher. Ensure your retirement corpus covers daily expenses, health emergencies, and desired living standards. Our calculator can help you set the right target.
Expenses After Retirement
Factor in increasing health expenses and inflation. Your retirement savings will be your main income source. Disciplined and strategic investments are crucial for covering expenses and enjoying a fulfilling retired life.
Separate Retirement Fund
Keep your retirement savings distinct from other financial commitments. Starting early leverages the power of compounding, ensuring your investments grow over time.
Why Momentum Finserv Retirement Plans?
Momentum Finserv is committed to your financial well-being. Our Retirement Plans are designed with your future in mind. We offer a range of flexible, tax-efficient, and high-return options. Our team of experts will work closely with you to create a personalized retirement strategy that ensures you can retire with confidence.
Start securing your retirement today with Momentum Finserv. Invest in your future, and let us help you achieve your retirement dreams. Together, we’ll build a secure financial future.
Frequently Asked Questions (FAQs)
Retirement plans are insurance products designed to provide financial security during your retirement years. They help you build a corpus that ensures a comfortable retirement.
Retirement plans require you to pay premiums during your working years. The accumulated corpus is used to provide regular payouts or a lump sum at retirement.
Retirement plans ensure you have a steady income during retirement when your regular earning stops. They offer financial independence and peace of mind.
Yes, many retirement plans allow you to choose the age at which you want to start receiving payouts. It’s important to align the retirement age with your goals.
Some retirement plans allow partial withdrawals in case of emergencies. However, it’s advisable to only withdraw when necessary to maintain the retirement corpus.
Retirement payouts can have tax implications, depending on the annuity option you choose. Consult with a financial advisor to understand the tax treatment.
