Retirement Planning Blogs

For many individuals, retirement planning is simply about building a large corpus. But, having a sizeable savings pool alone may not be enough to fulfill your financial needs once your regular income stops. Retirement planning also involves estimating your future expenses, accounting for inflation, deciding when to retire, and aligning savings and investments with your future requirements. Retirement goal planning helps you create suitable income sources to maintain your desired standard of living in the future.

FIRE movement myths can create an impression that financial independence and early retirement are only for high income individuals. However, FIRE is a broad retirement-planning concept that includes saving, investing, budgeting, cutting costs, and making sound career decisions. To separate principle from myth, it's crucial to know what FIRE really entails.

A sweep in FD refers to a facility in which a savings or current account is linked to a fixed deposit. Surplus money in the savings account above a limit is moved into an FD and earns a higher interest offered by the FD. If the savings account balance falls below a specific threshold limit, a specified portion of the FD is broken and credit back to the savings account.

RajSSP is the Rajasthan government's online portal for social security pensions paid to older people, single women, people with disabilities, and small farmers. Applications, approvals, payments, and annual verification are all handled through this portal. The portal also offers a RajSSP mobile app for pension-related services so that pensioners can avail the required service right from their homes.

Vridha pension is a monthly old age pension paid by the central and state governments to senior citizens from poor households. The centre provides a base amount under the National Social Assistance Programme, and each state adds its own share. This amount is paid as a monthly pension to state citizens who meet the certain eligibility criteria.