Start Planning Your Retirement Today

If you are in your late 20s or early 30s and you haven't started investing towards your retirement, you should start it immediately. Some say that you should start saving for your retirement right from the day you start earning. Well, that might be too soon but the golden rule is sooner you start better the results you get.

When it comes to planning your retirement utmost alertness is required. There are many people who make a complete mess of their savings by investing in wrong instruments for a long period of time. As a responsible investor one should ensure that one's savings get maximum value appreciation. And the only way to attain that level is Long term investment in the best of the investment instruments.

Here are some of the key factors which constitute a successful retirement investment strategy.

Monthly Savings

It's imperative to save on the regular basis in order to build a handsome post-retirement corpus. Whether you have salaried income or a business you should be extremely disciplined with your savings. A certain portion of your income should be allocated towards your retirement plan. Always remember wealth creation is a slow and an extremely lengthy process. It takes a lot of planning and patience to build a robust retirement fund. But as Warren Buffett has said, Someone is sitting in the shade today because someone planted a tree long time ago.

Don't Just Save Diversify!

You must have heard the English expression don't put all your eggs in one basket. Same goes with investment. Just saving money is not going to do the trick; choosing right financial instruments and allocating fund proportionately is equally important. Imagine you have invested money all your professional life only to realise after retirement that instruments you invested in have barely added any value to your investment. That would be heartbreaking, wouldn't it? People who look at life insurance as an investment option often meet such disappointment.

Mutual Funds, Stock market, Public Provident Funds (PPF) and Gold are some of the investment options which have provided good results over the years. Long term investment in stock market is one of the smartest methods of investment of the present time. However, investment in equity requires a fair amount of research and good analytical skills. Those who can't devote time for research can rely on the expertise of advisory firms like Niveza which makes investment in stock market easier for the working professionals. Their research team has helped investors to make safe investment with high returns in equity market.

Never Ever Dip Into Your Retirement Fund

In your life, you are going to be in situations where you will be in a pressing need of money. Everyone goes through that phase. But it's a cardinal sin to burst your piggy bank every time you are in a financial hole. As we have already discussed, whatever instrument of investment you have opted for, you gain only if you stay invested for a considerable period of time. To counter such situations, it helps to set your priorities right. Put your money in short-term investment options like equity or debt funds which provide good liquidity. Such provisions come in handy in difficult times. A little foresight and planning can help you keep your retirement funds safe and intact. Always remember: Long term investment is the name of the game.