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Benefits of Retirement and How Investments Can Help You Enjoy Them

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Benefits of Investment after Retirement
January 22, 2021

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When you begin your career, retirement might seem like a distant idea, but as the years pass on, and you reach the age of 60, you have to retire. Retirement is inevitable, and comes with its unique set of pros and cons. While for some people, retirement might sound difficult as it brings an abrupt halt to the fixed routine and schedule, for others it could be the phase where the years of slogging - to meet one's professional commitments - ends, resulting in the much-needed relaxation. If you have made planned investments early in life - for your long-term goals- the post-retirement years could well be the proverbial golden years of your life. Retirement planning by making sound investments decisions is the key to enjoy and relax with your loved ones.

Here is a look at the multiple benefits of retirement:

  1. You can spend quality time with your loved ones:

    As a working professional, you could have spent a major part of your life in fulfilling your professional responsibilities. At times, you could have worked for long hours at the office, while your family patiently waited. On other occasions, you could have brought office work to home, or worked from home. The need to meet the professional deadlines could have meant that you didn't have enough time to spend with your family. While working, you could have also missed to fulfil your personal obligations towards your loved ones. But, with retirement, you can spend quality time with your spouse, children or grandchildren. 

  2. Time to pursue hobbies:

    The constant deadlines and the range of professional responsibilities often leaves one with little time to pursue hobbies. If you had always longed to play any musical instrument, or wanted to sing, start a new collection of stamps or coins and so on, then the post-retirement years is just the right time. Along with allowing sufficient time to pursue hobbies, you can also learn new skills, like learning a foreign language, sketching, calligraphy etc. 

  3. Freedom to do what you wanted:

    Another key benefit of retirement is that you have the freedom to live life as you had always longed to. If you wanted to get away from the bustling city of your residence, and settle down in a serene countryside, or a hill station, you can now make the move. Along with relocating to a peaceful place, you can participate in long-cherished activities, like fishing by the riverside, or basking in the sun amidst picturesque surroundings on a winter afternoon. 

  4. Reinventing yourself by taking new projects:

    There could be a possibility that you were in a different profession from what your heart longed to do. For instance, you could have been a financial advisor, while wishing to be a professional photographer. Retirement could well be the time when you reinvent yourself. You can even start freelancing in the area of your expertise. Not only this would be creatively more satisfying, it could also provide an additional source of income. 

You must, however, remember that while there are manifold benefits of retirement, these can only be availed if you have adequate financial resources. It is exactly here that the importance of having planned investments- for long-term - comes to the fore.

Here is a look at the benefits of investment for your post-retirement years:

  1. Helps to have adequate money for your post-retirement years:

    The key advantage of planned investment for long-term goals such as retirement planning is that it will allow you to have sufficient finances for your post-retirement years. What's more, if you start investing early for your retirement, you stand to gain from the benefit of compounding. Having sufficient funds at your disposal will allow you to enjoy the golden years of your life.

  2. Helps you maintain the quality of your lifestyle:

    Planned investments can help you create a retirement corpus, which is in sync with the rising costs of living due to inflation. This will allow you to maintain the quality of your lifestyle in the post-retirement years.

  3. Protection for spouse and family:

    The right retirement planning will not only secure your future, but also act as a financial cushion against uncertainties or unforeseen emergencies faced by your spouse and family-members. So along with yourself, planned investments for retirement also protects your loved ones.

  4. Allows for secondary source of income:

    Another benefit of investing in the right retirement plan is that it can help you receive additional, secondary income. For instance, the HDFC Life Pension Guaranteed Plan provides for a regular guaranteed*income for lifetime. This single premium annuity product has a wide slew of benefits, like the option to take the plan on single or joint life basis, option to receive annuity on monthly, quarterly, half-yearly or annual basis, option to receive immediate or deferred annuity, choice of increasing your annuity amount via top up options and so on. 

Conclusion:

Thus, the post-retirement years can easily be the most relaxed and enjoyable period of your life, provided you start planning for your long-term goals via the best investment plans. 

* The word "Guaranteed" and "Guarantee" mean that annuity payout is fixed at the inception of the policy

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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