Is Your Retirement Portfolio On Track?
Posted on October 01 2020
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When we speak about retirement, we basically think it is far way to experience it. But we do not realize that the time is coming soon and there are many changes that are arise now and then. An individual have started saving for his retirement from around 10 years ago. He may be not the only one in the family now, family must have increased and his way of living must have changed with the rise in the income, financial commitments like home loan, saving for his kids, car loans, etc. He is required to make sure that his retirement corpus reflects the changes in the lifestyle and financial liabilities. He might also require recounting his retirement corpus. Working backward from that particular number then his monthly saving goals can be determined. He might find that the saving from the monthly salary should be upward from Rs 10,000.
Retirement is a long term goal, it does not work on invest and forget principle. Therefore, he is required to figure out his portfolios performance as well as it should. He will be able to evaluate the required rate of return by using the amount he projects as his retirement corpus. If his return on the investment is lower than the return rate that he requires then he must look for developing his portfolio mix. He also wants to change his asset class or investment option so that his goal, in the rate of returns is comfortable. He even wants to book part profits by increasing the exposure to well performing investments.
It is very important to keep a track of his portfolio along with the changes in the retirement goals. Therefore, it is necessary for him to check his investment annually, to make sure that his portfolios are correctly structured in the terms of asset class exposure or investment options. This will even inform him whether his portfolios performing and is he saving enough money.
Tax Assist is a professional income tax consultancy in India for both corporate houses and individual tax payers; the latter comprising Salaried Individuals, Seafarers, Professionals and Non Resident Indians.
With the help of Tax Assist and its team of income tax professionals, taxpayers can minimize their Income Tax liability, maximize their net income and create opportunities to save for current and future needs while maintaining proper accounting standards and income tax returns which are compliant with the Law.
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