In India, where the family setup has mostly moved from the joint structure to nuclear, retirement planning is fast turning into a must-have process. This is especially true since the economic ground realities and the high growth rate have made a high rate of inflation a structural issue. Statistics show that 65% of India's population is below 35 years of age and the median age is about 26. So, in 25-30 years from now, a very large population will enter the retirement age. Add to this the fact that -with the advancement of medical science - life expectancy is going up. In the absence of any social safety net in place, spending a peaceful retired life may actually become a task for most retired people in their sunset years.

That's why retirement planning is so necessary for every working individual.

According to financial planners and advisers, one can save enough to meet postretirement financial needs through a judicious mix of the right mutual fund schemes. One of the main ideas behind retirement planning should be to have a corpus large enough to maintain the lifestyle that you had just before your retirement.

Action Plan:

 Start saving early during your working life h Select the right investments that match your risk-taking ability

 Try to stick to your plan even if there are hurdles

1.ICICI Prudential Tax Plan

2.Reliance Tax Saver (ELSS) Fund

3.HDFC TaxSaver

4.DSP BlackRock Tax Saver Fund

5.Religare Tax Plan

6.Franklin India TaxShield

7.Canara Robeco Equity Tax Saver

8.IDFC Tax Advantage (ELSS) Fund

9.Axis Tax Saver Fund

10.BNP Paribas Long Term Equity Fund

You can invest Rs 1,50,000 and Save Tax under Section 80C by investing in Mutual Funds

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For further information contact Prajna Capital on 94 8300 8300 by leaving a missed call

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