Financial security is one of the primary concerns for most people post-retirement. Investing in a sound financial tool which provides stable and assured returns is one of the most effective ways of growing your retirement corpus. Retirement planning is the process of aligning your investments with your retirement income goals and taking the actions and decisions necessary to achieve those goals. Retirement planning includes identifying sources of income, sizing up expenses, implementing a savings program, and managing assets and risk.
While there are several investment options available to aid you with retirement planning, it is important to choose a balance of high safety and attractive returns. This way, you get to create a corpus to fund your post-retirement goals easily. With a retirement corpus in place you can also fund financial emergencies without having to compromise on ytour goals and comfortable lifestyle.
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Here are few investment options to consider while planning your retirement corpus. The returns earned from these can help fund monthly expenses post retirement.
| Interest Rate | Up to 7.05% |
| Minimum Tenor | 1 Year |
| Maximum Tenor | 5 Years |
| Deposit Amount | Minimum deposit of Rs. 25,000 |
| Application Process | Easy online paperless process |
| Online Payment Options | Netbanking and UPI |
Individuals must have a contingency plan in place and prepare for financial security early on in life, as sources of regular income are curtailed post-retirement.
When starting with retirement planning, it is important to analyse your financial health, future goals and risk appetite.
Here are the steps involved in retirement planning:
Based on the above steps, it is important to make a smart choice regarding your preferred investment avenues.
Presently, there are several investment avenues available in the market, which have their own advantages. However, if you’re looking to set aside a steady sum of savings, it is best to invest in a Fixed Deposit that offers assured returns and safety of your principal amount.
When choosing from different options, consider investing in a Bajaj Finance Fixed Deposit that offers attractive interest rates up to 7.05% and the convenience of investing from home.
While planning investments earlier can help you gain higher returns, it’s never too late to start investing. For those starting late, it is important to choose fixed-income instruments offering guaranteed returns. You can always consider cutting down on expenses, looking for additional income options and get started with investing immediately.
The best investment options for retirement are usually fixed-income products, which include Public Provident Fund, Fixed Deposit, National Savings Certificate, or Government Bonds.
For individuals who have retired and have a low-risk appetite, Fixed Deposit can be a smart investment option. It is, however, recommended to invest in a safe option, like Bajaj Finance FD, with accreditation of highest safety ratings by CRISIL and ICRA.
It is always recommended to start saving and investing for your retirement corpus earlier in life, as you can benefit from the power of compounding and grow substantial wealth from by investing in various financial instruments.
Bajaj Finance Fixed Deposit is one of the best investment plans for retirement as the investor gets the benefit of higher interest rates up to 7.05% with flexible tenors. With safety ratings of FAAA by CRISIL and MAAA by ICRA, Bajaj Finance is one of the safest investment options too. Thus, with a balance of high safety ratings and attractive FD rates, Bajaj Finance can be a great way to grow savings easily.
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