Most young people think that retirement
planning is for the middle-aged and it’s okay for them to delay as long as
possible. What they fail to understand is that it is really notokay to keep
retirement planning on hold for so long.

When it comes to financial
independence, one cannot stress the importance enough of having a solid
retirement plan and prioritising it early in his/her career. It is the only
effective way of leading a comfortable and financially secured life even after
retirement.

Reasons for
adopting retirement planning at the beginning of the career

The sooner a person adopts a solid
retirement planning the better are the chances of them having a comfortable
future.

The following highlights why retirement
planning should be started at the beginning of the career and not at the end:

• Financially prepared:  Sometimes savings are not enough to meet
  unforeseen financial crisis; dipping into other funds is the only solution to
  overcome such financial difficulties. When investors who hadsought retirement
  planningat the beginning of their career face some financial emergency, they
  dip into their savings for retirement corpus without the fear of exhausting
  their retirement fund.
• Quick recovery: If an
  investor dips into their retirement fund to meet any sort of financial
  emergency, the fear of exhausting their resources always bother them. But the
  same cannot be said for a person who had begun planning their retirement at the
  beginning of their professional life. Having a retirement plan from the
  beginning of one’s career enables them to replenish their retirement corpus
  long before their retirement.
• Zero worries: A strong
  retirement plan is necessary for being financially confident and prepared which
  further keeps financial insecurities at bay when started early in career. When
  a person becomes familiar with retirement planning at the beginning of their
  work life they become relaxed and confident about their life post-retirement, which
  in turn allows them to focus more on their present and enhances their career.
• Reliable
  retirement corpus:The only reason why everybody works so
  hard and sacrifices so much in their life is because they want to lead a
  financially independent life after retirement. Starting retirement plan early
  in career encourages people to build a reliable corpus for their retired life
  and also allows them to satisfy their current financial needs without a lot of
  sacrifices.
• Fulfilment of financial goals:Financial goals keep a person motivated in their life and help them
  enjoy their retired life to the fullest but lack of adequate funds often become
  a hurdle for such goals. Starting retirement planning early in career allows a
  person to accumulate wealth in the long run and thus helps them to achieve
  their financial goals.

Prioritising wealth management and early retirement planning are the
keys to leading a financially independent retired life. To know more about the
benefits of planning your retirement at the beginning of your career, contact
our financial advisors and avail answers to all your financial queries.