Planning does not end with retirement

Congratulations!! You’ve been planning and saving for your retirement and it's finally here. You are geared up to live a life free of worries with your loved ones and you would have all the time in the world to do things that you always wanted to do. Wait before you sit down to make the plans, it's important to figure out the money you would need to live a life that you want and at the same time you have to make sure that the income lasts as long as you do.

Once you retire, with time expenses would go up. Apart from daily living - healthcare, domestic assistance, recreation expenses often catch up and these are some without which it would be difficult to manage. So if you don't have a plan to spend, there are chances that you may outlive your savings soon. Money in hand boosts up the confidence to spend. But if that money is your retirement corpus, make sure every penny is spent wisely. While evaluating further investment opportunities, don't be too defensive as you would not use the entire corpus in one go. Make sure you still have some part of your corpus in diversified equity funds as this planning is all about till you live.

Don't underestimate your expenses in retirement Else your money would not last as long as you need it!!