RESUME APPLICATION PAY PREMIUM
Fund Performance

Fund Performance

Knowledge Center

Knowledge Center

About Us

About Us

Tools and Calculators

Tools & Calculators

Quick links

Mobile (Download app)
  • Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

RESUME APPLICATION PAY PREMIUM

What do you want to do?

Quick links

Mobile (Download app)

Download HDFC Life App

Buy plans, track your policy, make renewal payments & monitor fund performance with HDFC Life App, Download Now!

Apple Logo Go to Google Play Store

Financial Moves To Make When Considering Early Retirement

down-arrow
June 18, 2018

Many of us wish to retire early so as to start living on our own terms in a life of leisure and peace.

This may sound like a dream but can be achieved with methodical planning and a disciplined approach.

Here is what you need to do.

  1. Allocate your budget
    From time to time we all tend to splurge and spend a majority of our income on things that are unnecessary.
    To avoid this, it is best to plan out your monthly income and allocate it into different expenses like phone and electricity bills etc. and most importantly in different savings. The habit of budget allocation will discipline us and cut down on expenditure
  2. Increase your allocation of money towards savings
    If you wish to retire early and in luxury we need to change our habit of just saving whatever little we have and allocate a major portion of our income towards Retirement Funds.
    This can only be achieved by careful planning and dedication.
  3. Clear all your debts
    For a peaceful retirement, it is important that you pay off all your debts as early possible and do it in a prudent way.
    This can be done either by increasing your EMI, paying them in a lump sum or best contacting your lender to restructure your loan.
  4. Invest in post-retirement pension scheme
    When we retire at 60 we depend a lot on our savings and thus require a steady pension scheme to cover up our monthly expenses.
    Also, if you plan to retire early you need to have allocated more amount towards this monthly pension as you will have more years to cover post retirement.
    Hence, invest in a good pension scheme that will factor in your plan to retire early and give you a larger duration of pension cover to fulfil your needs.
    HDFC is one India’s leading banks and provide people with amazing post retirement schemes, which not only takes care of their funds wisely, but also gives them good returns upon maturity.
  5. Investment
    The biggest factor to look at for a good retirement is investment, thus you make sure you invest in SIPs and Mutual Funds and start as early as possible, so you have accumulated a hefty sum of money when you retire.
    So, allocate your savings wisely and start investing early to have life of luxury post retirement.
Show Full Article
Hide Full Article

Term Plan Articles Term Plan Articles

Investment Articles Investment Articles

Savings Articles Savings Articles

Life Insurance Articles Life Insurance Articles

Tax Articles Tax Articles

Retirement Articles Retirement Articles

ULIP Articles ULIP Articles

Health Plans Articles Health Plans Articles

Child Plans Articles Child Plans Articles

Popular Calculators Popular Calculators

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.

LinkedIn profile
Author Profile Written By:
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.

LinkedIn profile
Reviewed By Reviewed By:

Here's all you should know about life insurance.

We help you to make informed insurance decisions for a lifetime.

What is Family Pension?

What is Family Pension?

What is Family Pension? Explore its eligibility, benefits for government employees, retirees, widows, and tax implications. Understand the differences between regular pension and family pension.

Income Tax on Pensions: Are They Taxable?

Voluntary Retirement Scheme

Pension Payment Order: Definition, Steps, Importance

Pension Payment Order, abbreviated as PPO, is a unique 12-digit code assigned to every pensioner under the Employee Provident Fund (EPF). Read to know how to check it.

Pension Payment Order: Definition, Steps, Importance
Things That Affect Your Annuity Income Previous
Retirement Planning Mistakes You Should Definitely Avoid HDFC Life Next
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

Popular Search

Popular Searches