For most people, life is like clockwork. You get up in the morning, do your morning chores, push off to the office, work all day, trek back home in the evening, spend a few fleeting moments with your family, and crash. And then again repeat the same the next day and the day after and so on. Which is why many people these days have started dreaming about an early retirement.
But the catch is that retirement no longer means hanging your boots and simply relaxing. Instead, retirement is now increasingly being viewed as another exciting phase of life. A time when you can slow down and actually enjoy life, pursue the hobbies that you have always wanted to or start your own little entrepreneurial venture. In any of the cases, there is a high chance that your income would decrease significantly if not almost disappear. This means that you have to make plans to substitute your income from salary with other sources of income. After all, the whole point of retiring early is to reduce the stress in your life and follow your dreams. Achieving that would definitely be challenging if you don’t plan your finances right and have the right retirement investment.
Start retirement planning early for an early retirement
Here is a step by step guide on how you can start your retirement investment and pursue the next phase of your life with gusto.
Retirement funds: The easy way to retire early
If you make a robust retirement investment plan, then you can easily take an early retirement and live the life of your dreams. On the other hand, if creating such a plan and sticking to it seems like a challenging task, then you could simply opt toinvest in a retirement planoffered by select mutual funds. Such funds usually invest your money as per a predefined asset allocation across equity and debt instruments. As your comfort with risk changes, the plan gradually shifts your portfolio investments from high-risk instruments (equity) to relatively low-risk instruments (debt). This way you are able to benefit from the growth potential of equities in your prime earning years and then protect your portfolio throughdebt investments, as you approach your retirement. There are two main benefits of investing through retirement funds:
The bottom line is that “You Only Live Once’ and you should not let a lack of planning get in the way of achieving your goals, whether they are something as simple as buying a car or retiring early to start your own organic products business!
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MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS,
READ ALL SCHEME RELATED DOCUMENTS CAREFULLY
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.