Get all set for your retirement plans | Invest in a secure Fixed Deposit @Myloancare


Peaceful and relaxed retirement life is a dream of most people. To achieve the best retirement life, ideally, you would like to finish your career at a sharp point. For retirement, the Fixed deposit is one of the great investment options, especially in the 60s due to the high rate of interest available for senior citizens.

4 things that you need to keep in mind when you are retiring are:
1. Make Catch-up Contribution: After retirement, you will no longer be able to contribute to your retirement account. Thus, make sure you make some extra contribution to your retirement account, especially during the last few years.
2. Calculate Social Security Benefit: Along with your retirement account, you will also have social security benefits. So, assess the amount you will receive from there and analyze whether the combined amount of your retirement account and social security benefit will be enough or not.
3. Appropriate Portfolio Allocation: As you get closer to the 60s, you need to relocate your portfolio in investments that will give your return in the near future. Balance your approach to risk and safe investment.
4. Make a financial plan for Retirement: Retirement causes a significant shift in your daily routine and lifestyle. Thus, make sure you plan for them whether they are emotional or financial.


Read More: 4 smart ways to get ready for retirement in your 60s

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