Retirement Planning: Just do these 5 things, building a retirement fund of ₹1 crore will be a cakewalk..

Financial freedom after retirement is everyone's dream. Building a retirement corpus of ₹1 crore isn't difficult if you plan. It's crucial to start saving early, invest wisely, and review your financial strategy periodically.

1. Set Your Goal

First, determine how much money you need to retire comfortably and how many years you have to reach that goal.

2. Start saving early to benefit from compounding.
The earlier you start saving, the more time your money will have to grow. This reduces the need to save each month.

3. Automate Monthly Savings
Set up an automatic monthly transfer from your bank account so that saving for retirement becomes a regular habit.

4. Choose the Right Investment Mix
Balance your investments between equity, debt, and safe instruments, according to your age and risk tolerance.

5. Review your plan annually
Each year, review your investments, make adjustments if necessary, and protect your profits by purchasing the right insurance.

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