Today I Learned...
- Regularly review and adjust your retirement portfolio to stay ahead.
- Understand the risks of inflation, market crashes, and unforeseen expenses.
- Learn how to manage these threats proactively for a secure and stable retirement.
etirement is often a period we look forward to, envisioning relaxed days filled with travel and leisure. However, it can also bring a wave of financial anxieties. The fear of outliving your savings and the constant depletion of purchasing power due to inflation can make retirement planning daunting. In our recent webinar, “Retirement at Risk: Importance of Checking Your Portfolio” hosted by Franklin Templeton and GetSetUp, Guest Speaker S. Sridharan highlighted the importance of proactively managing your portfolio, focusing on key strategies like asset allocation, rebalancing, and systematic withdrawal plans. He debunked common biases hindering investment decisions and provided valuable insights on navigating different investment options.
Mr. S. Sridharan is an esteemed financial professional with 15 years of experience as an Independent Financial Advisor (IFA). He has been honored with the title of ‘Associate Financial Planner’ in retirement planning and employee benefits from the Financial Planning Standards Board. A prolific writer, Sridharan contributes to renowned personal finance magazines like Moneycontrol.com, Financial Express, Times of India, UTI Swatantra, and Nanayam Vikatan.
Key Highlights from the Webinar:
🩺 Identify Your Needs: Before investing, one should reflect on their financial needs during retirement. Consider desired lifestyle and anticipated expenses, including healthcare and potential unforeseen events.
⚖️ Embrace Asset Allocation: Diversifying your investments across different asset classes is essential to manage risk. A balanced approach involving fixed income (like FDs, bonds), equity (direct investments or mutual funds), and gold can help you weather market fluctuations and achieve your financial goals.
🔄Rebalance Regularly: Don’t fall victim to investment biases. Review and adjust your portfolio at least every six months to ensure your asset allocation aligns with your risk tolerance and financial goals.
💸 Systematic Withdrawal Plan (SWP): Utilize SWPs to create a consistent income stream during retirement while minimizing tax liabilities. Withdraw a small portion of your capital and profits to enjoy a comfortable income without depleting your principal too quickly.
🧑💼Seek Professional Advice: Don’t overlook the importance of financial advisors. They provide invaluable assistance in crafting a personalized retirement plan, managing complex investments, and navigating the ever-changing financial landscape, ensuring your financial future is secure and well-planned.
Retirement planning is not a one-time event. It’s an ongoing process that requires regular attention and adjustments. Following a regular process to monitor your portfolio can help you safely navigate whatever challenges come your way. Our retirement years should be a time of relaxation, not worry. Taking control of your financial future can ensure a peaceful and fulfilling retirement.
This webinar is brought to you by Franklin Templeton. For more such classes on investing, mutual funds, and more, download our app from the Google Play store or connect with our team on WhatsApp.