Failing To Plan For Retirement Is Planning To Fail

In India, the defence forces always emphasise training and strategic planning during peacetime, highlighting the need to prepare well in advance rather than waiting until the enemy is at the doorstep. This principle also applies to preparing for retirement, where many people only realise its significance when they are about to retire. This is because human nature tends to prioritise short-term needs over long-term goals. Furthermore, a lack of financial awareness regarding potential challenges during retirement years often causes a delay in action. Many investors commonly assume that their contributions to provident funds or traditional investments will adequately meet their retirement needs. However, the reality is that contributions to these funds are often modest, and the low-interest rates they offer can barely outpace inflation. Additionally, with advancements in medical care...