Planning for Retirement? Getting pension every month without doing anything is the most common dream when someone talks about retirement. In addition to getting lumpsum amount at the retirement, you can also get annuity with the help of National Pension System, NPS. National Pension System is the way to take care of your second innings and make sure you are not dependent on any one financially once you retire. NPS has some tax benefits in addition to retirement lumpsum and annuity options. Make sure to watch video till end so that you do not miss out on anything.

Link to 10% savings video : – How to achieve financial freedom with simple saving

Link to 50-30-20% savings video : How to create wealth with simple saving

Link to saving while in debt video : How to save when you are in debt

Link to rules of savings and investment video : 5 Golden rules of Money | Guidelines for Savings and Investing

Link to options of investment video : DIFFERENT SAVING AND INVESTMENT OPTIONS

Link to investment distribution video : HOW TO DISTRIBUTE MONEY IN DIFFERENT INVESTMENT OPTIONS

Link to assets vs liabilities video : WHAT ARE ASSETS AND LIABILITIES

Link to mutual funds part -1 video : WHAT ARE MUTUAL FUNDS

Link to mutual funds part -2 video : DIRECT VS REGULAR MUTUAL FUNDS

Link to index fund video : WHAT ARE INDEX FUNDS

Link to interest free home loan video : HOW TO MAKE HOME LOAN INTEREST FREE

Link to repay home loan faster video : HOW TO REPAY HOME LOAN IN HALF TENURE

Link to ULIP video : WHAT IS ULIP???

Link to ELSS video : WHAT IS ELSS

Link to car loan video : SHOULD YOU BUY CAR WITH LOAN | HOW MUCH CAR LOAN SHOULD YOU TAKE | BUY CAR WITHOUT LOAN

Link to credit card video : CREDIT CARDS GOOD OR BAD | SHOULD YOU TAKE CREDIT CARD | HOW TO USE CREDIT CARD EFFECTIVELY

Link to tax reduction video : ZERO TAX ON 12 LAKH SALARY | MAKE TAXABLE INCOME ZERO | REDUCE TAX | TAX EXEMPTIONS & DEDCUTIONS

by Pravin Hudekar
#KeepSaving #FlipYourCoin #Fyc #HowToSave #MoneyManagement #investment #WhereToInvest #mutualfunds #sip #IndexFunds #homeloan #interest #reduceloan #reducetenure #reduceinterest #ULIP #mutualfundVsULIP #ELSS #TaxSaving #car #loan #planning #carloan #incometax #tax #creditcard #taxsaving #zeroTax #taxplanning #taxplanningguide #taxguide #nps #retirementplanning #retirement #pension #pravinhudekar…(read more)

LEARN MORE ABOUT: Retirement Pension Plans

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

As people start to think about their retirement, one of the key factors they must consider is their financial stability. Planning for your retirement can be a daunting task, but it is important to start early and understand the various ways in which you can save for your future.

One such option is the National Pension System (NPS), which was introduced by the Indian government to provide retirement income to all Indian citizens. It is a voluntary, defined contribution pension system, which allows individuals to invest in various asset classes, including equities, bonds, and government securities.

Under the NPS, individuals can contribute to their retirement account, which is managed by professional fund managers. The contributions are invested in various asset classes and the returns earned on the investments are credited to the account.

One of the greatest benefits of the NPS is the tax savings it offers. Contributions to the NPS are eligible for tax deductions of up to Rs. 1.5 lakh under Section 80C of the Income Tax Act, 1961. Additionally, contributions of up to Rs. 50,000 are eligible for tax deductions under Section 80CCD(1B).

When an individual reaches the age of 60, they can withdraw up to 60% of the accumulated corpus as a lump sum, and the remaining 40% must be used to purchase an annuity. Alternatively, if an individual decides to withdraw before the age of 60, they can choose to withdraw up to 20% of the accumulated corpus, subject to certain conditions.

Retirement planning is not just about saving money. It is also about making smart decisions, such as investing in the NPS, to ensure that you have adequate funds to live comfortably in your golden years. It is important to start planning for your retirement as early as possible to ensure that you have enough time to build a sizable corpus.

One way to plan for your retirement is by using the “flip your coin” method. In this method, you toss a coin every year to determine which asset class to invest in. If the coin lands on heads, you invest in equity, and if it lands on tails, you invest in debt. This method ensures that you have exposure to both asset classes and helps to balance out the risk and return of your investments.

In conclusion, retirement planning is an essential part of financial planning, and using tools such as the NPS and the “flip your coin” method can help you in your journey towards a secure and comfortable retirement. Start planning today to ensure a brighter tomorrow.