As the person enters retirement life, insurance needs may gradually decline but in some cases, they may still need adequate insurance cover.

Early retirement often creates a buzz, especially among people who have achieved phenomenal career growth. Is it the right strategy to completely exit the work life at an early age?

It is often suggested that one should accomplish most of one’s milestones before retirement. However, if someone fails to achieve their key milestones or has a new milestone that they want to cover after retirement, what should they do?

Changing your home after retirement may cause many problems. So, one should try to shift into their new senior living home or location around it a few years before they retire.

A senior citizen’s retirement corpus can easily entice anyone, and this puts them at risk of getting financially abused. How to know that seniors are financially abused and what can they do to avoid it?

Senior citizens can’t afford to make big changes in their retirement investments as it may result in undesired outcomes. However, it becomes crucial for them to adjust their investments in sync with the changes announced in the budget.

You must learn some essential financial lessons to make your retirement journey better and safer.

The biggest fear of most retirees is that their retirement corpus won’t last as long as they may live. So, they spend money, they do it with fear in the back of their mind. However, in reality, the chances of falling short of money are often negligible in such cases.

Health plans are essential for people of every age group, but how many plans would be adequate for better coverage? While some people believe that one plan is enough for them, some take multiple health policies. But is it a good idea? We explore

After retirement, senior people depend on their accumulated corpus to meet their financial needs. However, it’s important that seniors take special care of their money and wealth, or else they may put themselves into a financial mess.

In Budget 2024, the government announced that it would take away the indexation benefit that was available earlier while calculating the long-term capital gain tax on assets like property and gold. Will withdrawal of indexation benefits result in an impact on your beneficiaries?

Senior citizens get the benefit of higher interest rates when they invest in a senior citizen fixed deposit (FD) product compared to the interest rate that is offered on regular FD products.

Will is a document that allows your chosen heir to receive your legacies while avoiding disputes and court cases. However, there are some situations when you may want to change your will or cancel it.

When entering retirement, one should be ready to tackle all the obstacles, from financial and health to legal challenges. To mitigate legal risks, senior people need to keep a strict watch on their readiness.

Are you a senior citizen left alone by your family members or are you not cared for properly? There are legal options available for senior people whose children don’t take care of them.

Equity investment is one of the most tax-efficient instruments, but they are also liable for taxes depending on factors such as the type and the size of capital gain. A few hacks can help you save taxes.

Lending money after retirement can be financially more challenging and riskier than lending before your retirement, so it should be planned very well before you lend your money.

Despite having a big retirement corpus, you may fall short of meeting your retirement expenses if you are not ready with the right budgeting steps. So, planning your budget after retirement is crucial.

As you grow older and get close to the empty nester stage, you big home may start looking even bigger and you may not feel comfortable. It could be a sign that you now require a home downsizing!

While UPI and debit card users can make a payment to the extent funds are available in their bank accounts, credit card users must repay the utilised amount within the due date to avoid interest and penalty.

Senior citizens have different needs when it comes to living in a home and if they are planning to buy a home close to their retirement or after it, they must keep their special needs in mind.

Credit cards can prove to be a versatile spending tool for seniors. How to find out which credit card would suit best to seniors?

Nowadays, Buy Now Pay Later (BNPL) is quite popular among people looking for short-term financial support to meet their spending needs. Should seniors avail such BNPL facilities?

A lack of facilities and support for senior citizens can make their lives even more challenging. So, it’s important to do a reality check from time to time and make the necessary changes to make life easier for senior citizens.

People normally invest in annuities, SCSS, etc. to get a decent return for meeting their expenses. However, if you have a residential property, you can rent it out to earn a decent rental income for the rest of your life after retirement.

Seniors are usually not accustomed to loneliness and they don’t know how to cope with it. However, technology can help them overcome the challenges of living alone.

Seniors depend on limited financial resources for living. However, with good government policies and assistance, senior citizens can overcome all the challenges that they may otherwise face from time to time.

Many parents spend their lives alone as their children have to live in a different city for work. In such a situation, AI technology can be highly useful for the seniors for their care and well-being.

Many senior citizens can’t create a will due to age-related health issues. However, they can use online will-creation tools instead of missing out on will. Creating an online will is easier and cost-effective as well.

You may get many tips for investing money for your retirement, but you may not get much advice for investing after retirement. So, what should be your investment plan after retirement, are you ready with your strategy?

The need for a health insurance policy increases as you grow older, especially after retirement. IRDAI has modified its earlier circular to provide more clarity on insurance coverage for seniors. Learn more

Despite all the planning and hard work when the time comes to enjoy your retirement, indulging in financial bad habits can spoil everything. You can easily avoid them by taking these right steps.

Life insurers allow the insured to pay premiumsin monthly, quarterly, half-yearly, yearly or in a single payment. Thepolicy remains the same only the premium payment frequency changes. So, which type of plan suits you in the long term?

Do you know what sequence of return risk is, how it may impact your life and how to avoid it?

People often find it difficult to figure out when they should take the first step towards retirement planning, the answer is as soon as they start the career!

When you avail of more than one insurance policy, it is called a split policy. Splitting the insurance policy can help the insured with greater flexibility in planning their insurance cover.

Are you looking for a loan after retirement? You must consider several factors such as loan repayment period, eligibility, interest rate, etc. After retirement, how to choose the appropriate loan instrument?

Before applying for a loan, you must avoid things that may put you in a financially difficult situation later. Learn more

Credit cards are not only useful for working people, but retirees too can use credit cards and benefit from their versatile features

Planning your retirement requires lots of planning, along with a clear vision. A mistake in your plan can easily ruin your entire retirement life, so it's important to ask you a few important questions when planning for your retirement.

Inflation is working 24x7 to deplete your hard-earned savings. Inflation is the rate at which purchasing power of currency erodes. So, how to ensure that the retirement corpus that you have planned for your retirement remains inflation-proof?

One of the dilemmas that most people come across is whether they should live in a big city or shift to a smaller city after their retirement. When it comes to cost-cutting, smaller cities may seem attractive, but there’s more to it!

Senior citizens whose age is 75 years or more are exempted from filing the ITR u/s 194P, subject to fulfilment of certain terms and conditions as applicable according to the ITR rule.

People who have retired from work and their children working in a different city, are often at risk of getting into loneliness. Fighting loneliness becomes a challenging task for the seniors.

The festival of parliamentary elections has begun in India, and the Election Commission of India has extended the vote-for-home facility for senior citizens. Do you know what a vote-for-home facility is and how it is going to help senior citizens?

You can create a will to distribute the wealth you have accumulated during your lifetime after your death. What if you are single? Does a will still help? Yes, a will is highly recommended, even if you are single!

Technological advances such as AI and the Internet of Things (IoT) have made life easier and elderly citizens have immensely benefited in terms of convenience, support and several other aspects.

Wouldn’t it be better to use the return earned on your investments to repay your loan EMIs? A systematic withdrawal plan (SWP) can be used to repay the loan EMIs, but you first need to understand how to do it.

The need for health insurance becomes more critical for senior citizens as their health condition deteriorates quickly and they are highly susceptible to new ailments.

You may be aware of benefits available only for senior people such as those related to investments, insurance, loans and banking, but are you aware of facilities available for senior citizens travelling by air?

There are huge amounts of unclaimed funds lying with banks and insurance companies. The reason is that the depositor forgot to share their bank account details and investments with their beneficiaries. So, keeping the family informed about your critical financial assets, such as bank accounts and investments, is crucial.

Gadgets can make your life easier and more comfortable. There are many health gadgets available in the market that can help seniors with crucial assistance in keeping them fit and healthy.

As a senior citizen, you are entitled to a few important financial benefits! The benefits available to senior citizens in India range from tax exemptions to better returns on investments and much more.

Divorce after retirement is a difficult situation that requires lots of preparation from various aspects such as legally, financially and emotionally. So it’s better to prepare yourself before you go for a divorce.

Term plans are an important risk mitigation tool that one should take as early as possible in one's career.

You need to plan many things when you retire, but one of the important aspects that you must not miss out on is related to securing the financial well-being of your spouse.

Senior citizens usually prefer low-risk instruments such as the Senior Citizen Savings Scheme (SCSS) and tax-saver FDs for tax benefits. However, they vary in features and benefits. So check their suitability as per your financial goals before choosing them.

It’s not an easy decision to sell a home; however, after retirement, if you find yourself in a financially difficult situation, you may consider selling it and shifting to a rental property for the rest of your life.

Seniors are usually more vulnerable to financial mistakes compared to people who have an active income source. So, they need to stay aware of some of the essential steps to avoid a problem at a later stage.

Financial life changes completely on crossing the age of 60, due to retirement from an active work life, increased dependence on retirement corpus and a change in risk-taking capacity. So, the age of 60 is often seen as a cut-off year to accomplish financially crucial things.

Age is not directly linked to a credit score but in some cases, the change in financial habits and change in borrowing patterns results in a negative impact on the CIBIL score.

The need for a senior living property may vary from person to person, however, there are a few important features that make them an attractive option for senior citizens

With the change in your income and expenses during the retirement period, it can be a good time to review which tax regime you should go with, the new or the old tax regime.

Investment can help you achieve your goals, but investing in too many instruments which you can’t track could result in undesired results.

Before the financial yearends, one must accomplish several crucial financial obligations which can’t be done once missed. Also, check your preparedness to accomplish your goals in the next financial year.

Are you a retiree and planning to buy a home? You can live in a regular independent property or explore the newer but quite popular option of living in a senior living apartment property.

Post-retirement, people may want to return to their native place after selling their home. However, it's crucial to ascertain your readiness before selling your home.

When compared to other age groups, seniors are often more susceptible to financial mistakes when planning a holiday trip. The reason for such financial mistakes is often ignorance and lack of planning.

The last day of the financial year is considered a deadline to fulfil financial obligations, such as tax-saving investments, furnishing updated returns, etc. Failing to do so may result in a penalty. 

Seniors require planning and patience when they spend their lives after retirement. Similarly, when investing in a tax-saving instrument, a last-minute rush can result in a financial catastrophe for the seniors.

Every penny counts when it comes to saving money during your retirement. So, tax savings can be crucial for seniors when it comes to saving money and living a financially healthy life.

Employee Pension Scheme (EPS) is an attractive investment instrument that helps employees create funds for pension income after retirement. However, should you rely only on EPS or explore other tools?

A bank account opened in a foreign country is called an overseas bank account. Usually, an overseas bank account is required by people who work abroad but can a senior citizen too maintain such an account?

The parents are usually ready to pass on their legacies, like the property in which they live, to their children, but isn’t it the duty of the beneficiary children to take the onus of paying the property tax towards such property?

Calculating your retirement corpus in advance can help you easily meet your retirement expenses.

There are various ITR forms that taxpayers can use for different purposes. To avoid mistakes, senior taxpayers should choose the appropriate ITR form for various tax filing purposes.

While choosing a low-risk investment instrument, seniors are sometimes confused about whether to invest in debt funds or choose the appropriate government securities. Learn more

Pension income and life insurance are meant for different purposes, but there are several financial instruments in the market that allow the benefits of both in a single product. Learn moiré.

Property tax is mandatory for every property owner; however, some relaxations are permitted for senior citizens.

Budget announcement is eagerly awaited by people of age groups, however, for seniors it is an event that gives them hope of saving more money, earning a higher return on their retirement corpus and lowering their expenses.

People often confuse tax liability on the gold purchased from the market and inherited from the ancestor as the same, but that’s not true!

Health policies are essential instruments for every person. However, there are certain features in the health policies which are highly beneficial for the seniors and they must use it when needed.

A mistake while selling a home can cost heavily to the seniors. So, they must plan everything very well before they sell their home.

Usually, it’s advisable to close all your loans before you retire. After retirement, if you still have an outstanding loan and fail to repay the equated monthly instalments on your loan on time, it leads to a loan default. In the case of a home loan, a default can put retirees in a serious financial situation

Health insurance is important for everyone and it becomes more essential after one is retired. Certain health insurance mistakes can make it ineffective, especially when you have retired. So, it’s important to be aware of some crucial health insurance mistakes after retirement

The further you delay your retirement plan, the more difficult it will get for you to achieve your plan. So, if you are in your 50s and have not made your retirement plan yet, it’s probably the last chance to do it

Credit cards can be a handy tool for retirees as they can use them to meet their spending needs and also earn some valuable reward points at the same time. However, fraudulent activities against senior people are increasing by the day, and credit cards used by senior citizens are also being increasingly targeted. So, if a senior citizen becomes a victim of credit card fraud, here are the steps they need to follow

Whether you are young or a retired individual, you need a good credit score to make full use of your financial capacity. Usually, working people have several options and lots of time at hand to improve their credit score if it is not up to the mark, but can seniors too improve their credit score? Let’s explore

The return on investments is usually directly related to the risk involved in it. So, if you want higher returns, normally you have to take a higher risk as well. However, there are a few safe investment avenues that have the potential to offer high returns and they can be very attractive to senior investors, too

A medical emergency can hit you anytime, but the chances increase as you grow older. However, with the increase in age, the premium on health insurance also increases, often putting an extra financial burden on senior people. So, is there a way for senior citizens to keep health insurance premiums in check as one grows older? Let’s explore

At the beginning of 2024, senior citizens must make some financial commitments for better financial health. So, here are fourfinancial commitments every senior make to make for the next 12 months

With the start of the New Year, you must stay ready with a checklist to use your financial resources to achieve your goals. So, what are the things seniors should include in their financial checklist for 2024?

Every year ends with a collection of valuable financial lessons that usually unfold from various events and experiences. Such lessons can be of great help as they can help people stay financially fit and safe.

Taxation can seem complex if you don’t stay updated about its rules. Advance taxes can be even more confusing for many people, especially senior citizens.

In legal parlance, a custodian does not own the assets but keeps the assets in his or her custody till the heir mentioned in the will or the eligible legal heir is identified for owning the asset.

After retirement, you may stop working while your tax obligation may continue to exist. You can save taxes on retirement benefits, but it requires proper planning.

Retirement is the start of a new journey that requires planning and has little scope for mistakes. So, people often get anxious as they don't know how to deal with the situation if things don't go as planned.

People nowadays get alerts from banks and mutual funds to add a nominee to their account. But what about adding a nominee to your house property?

Do you want to retire rich? Not a big deal, provided you plan it well. If you plan to build a retirement corpus of Rs 100 million, you can do it with the right planning and timely execution.

Seniors with a low-risk appetite may find it difficult to secure a positive real rate of return and may expose themselves to wealth erosion. So, they must choose the appropriate investment instruments.

You may think that your retirement corpus would be sufficient for meeting your retirement goals, but there’s a high chance that you may fall short if you can’t beat inflation by a good margin!

Even if you have taken health coverage, you may miss important features that other companies may offer. Riders can be a good way to get the features you may miss in your existing policy.

Entering retirement without essential financial instruments may restrict the full enjoyment of this phase. Ensure you have the financial tools required to make the most of your retirement journey.

Running out of money after retirement can be scary because it can lead to financial distress, which is difficult to overcome. So, it's important to plan and figure out how many years of retirement would be sufficient for you.

Tax efficiency can play an important role when you choose a retirement plan. Do you know how insurance retirement plans are taxed?

FDs are one of the most liked investment products among senior citizens. Do you know seniors can also invest in company FDs that offer a preferential interest rate similar to bank FDs

What size of corpus would be sufficient for your retirement depends on how you have planned your retirement budget. So, it's important to plan the budget for your retirement carefully.

You may be a financially independent person when you are working, but will you also remain a financially independent person after you retire? Well, that depends on how well you plan for your retirement

Alternative investments can be a good option for your retirement planning, or you may also invest in them after retirement

IPOs can be an option for senior citizens to earn a good return, but they need to keep some crucial points in mind before they go ahead

For employees, EPF offers the most secure and attractive option for retirement planning. Self-employed individuals also have retirement planning options, but they are frequently overlooked.

Explore the benefits of employer-sponsored retirement plans, such as the Employee Provident Fund (EPF). Comparable to the widely known 401(k) plan in the US, eligible employers contribute to this retirement plan. Learn More.

Minimising the risk of health insurance claim rejection becomes less scary when you prioritise record-keeping and proactive healthcare to help steer clear of potential claim denials by insurance providers

After retirement, your financial goals will depend a lot on your expected cash flows from various investments. So, it's crucial to know about the different retirement plans available in the market.

There are several financial goals that one has to accomplish in one's life, but retirement is often the most challenging one. So, how to plan for retirement?

Do you know the financial lessons you teach your children are much more important than the other legacies you plan to leave behind for them?

Having no children or close relatives can significantly impact your retirement strategy. Learn more.

After retirement, the tax-saving strategy requires an immediate review as seniors can no longer use the EPF for tax savings. So, which are the best tax-saving options left for seniors after EPF?

If there is no will after death, there can be several claimants to property, leading to legal disputes. So, instead of waiting for the 'right time', it should be readied with the start of one's career.

Retirees need to carefully consider mutual fund schemes in sync with their financial needs, as they can't afford to commit a mistake

Several factors need to be kept in mind when selecting a regular income instrument for senior citizens, such as return, risk, tenure, lock-in requirement, etc.

Most senior citizens can't tolerate taking risks when investing during retirement, but they also need good returns to achieve their financial goals. So, what should they do to overcome the problem?

Life insurance is an important risk mitigation tool for most people, but is it also essential for seniors? Well, every senior may not need a life insurance cover.

Health is wealth; the older you get, the more meaningful this proverb becomes. Even if you have a huge wealth for retirement, it's meaningless if you are unhealthy. So, how do you remain healthy in old age?

If your children live abroad, you can shift with them, but you must first take care of your properties and belongings in the home country.

Asking a question to a financial planner can help them understand your requirements so they can help you stay prepared for future challenges

Loans play an important role for seniors who want to achieve their financial goals using their limited source of income. However, getting a loan can be challenging as they may face several hurdles.

Unlike people in jobs who have a regular income and growth, freelancers or self-employed individuals have an erratic income. So, freelancers need to plan their retirement very carefully.

While obstacles in retirement planning may seem like a dead-end, they can help you get a sound retirement if taken care of properly.

Despite all the efforts and planning, retirees may sometimes face financially challenging situations. In such an emergency, a home can be used as collateral to get a loan, but should you really go for it?

An early retirement can give you another chance to chase your dream that you had to leave because of working life commitments. 

Health insurance is the best financial tool to help a person mitigate health inflation, but the premium for health insurance gets more and more expensive as the person gets older.

A little effort now can make a huge difference in the long term. So, a side hustle can help you fund your retirement, provided you take the step in the right direction!

A senior citizen savings account may offer additional features like higher interest rate, premium debit card, free demat account, wealth management solution, doorstep banking facility, etc.

Senior citizens should relieve themselves from all financial obligations as soon as possible without waiting for their last breath. 

When you plan investments for your retirement, you need to choose the assets in such a way that it also fulfils your regular income needs. 

The common wisdom in investing is to align it with your financial goals. The type of investment normally depends on two things: investment horizon and risk appetite. 

Sometimes, people are confused between nominees and legal heirs, and they have misconceptions that the nominee is someone who will inherit the investment after their death. However, the legal heir and nominee are separate entities in the eyes of the law.

It takes enormous time and effort to build a business that creates a consistent stream of cash flows for your life. However, with some passion and directed effort, this is possible.

Many salaried people get health coverage under group insurance through their employer. However, after retiring from the job, their health coverage also ends. What should they do to avoid such a situation?

As you get closer to the last leg of your life, you may want to spend quality time with your family and friends; however, in some situations, it may be more favourable for you to delay retirement.

What can be more painful for seniors than their children disowning them during the dusk of life? Nothing, but the pain can be reduced to some extent, at least in financial terms.

Small saving schemes not only help in inculcating the practice of savings but also help in getting regular cash flow post-retirement. So, it's important to choose the right one in sync with your financial goals

Without a bank account, life can be financially miserable, but having too many bank accounts can also make your life financially miserable. Do you want to know why?

Are you a senior citizen with an income below the taxable limit? Filing an income tax return (ITR) can offer several benefits; however, sometimes, not filing an ITR can cause trouble, too!

The benefits of NPS are many, including tax savings, asset choices, and ease of investment. When Investing in NPS, it gives you various options to choose from, which one should you go for?

A financial emergency is a difficult situation to be in, and can be rather distressing for senior citizens, who may not have ready cash available with them. So, here are three ways in which they can arrange funds in the event of a financial emergency

Work forms a major part of our lives. Hence, for many people, retirement is a nightmare. They look for some work to keep them busy. So, how do you get to work after retirement?

Despite a big retirement corpus, many retirees still fear how they would spend their lives on a fixed income. Some budgeting fixes can make it easy for them to live on a fixed income.

One of people's biggest concerns is having enough corpus to survive post-retirement life. Everyone should think about how they plan today to make their tomorrow financially secure.

Travel insurance provides you with a hassle-free and financially risk-free travel experience.

A health emergency is a scary situation for anyone to be in, more so when you are single with nobody to support you in your hour of need. However, prior preparation can help you overcome one smoothly

Non-resident Indians often plan to come back to spend their retired life with their close relatives and friends in India. But before they decide to return, they must give special attention to their financial preparation so that they can comfortably adjust to their new life in India

Loans are invariably tied to your earning capacity. So, how do you get a loan when you are no longer working and have no professional source of income?

Do you know what happens to the outstanding amount of a secured or an unsecured loan after the demise of the borrower, and how does it affect the heirs?

Senior citizens may want to sell their homes for various reasons, like shifting to another location, to get money for retirement, etc. However, they must be careful while selling their property

How much money would be enough for your retirement? Well, whatever corpus size you have figured out, what would you do if you still ran out of money in the middle of your retirement period?

Most banks are offering senior citizens an extra interest rate of 25-50 basis points on FDs compared to non-seniors. Still, you must take care of your FDs to maximize benefits

There are many loan instruments available in the market, but each loan product has its own distinct features and applications. So, it’s important for senior citizens to choose the appropriate loan instrument in sync with their borrowing size and repayment capacity

With the hyperbolic rise in medical inflation, the need for a health policy has increased significantly, especially if you are a senior citizen. But can you afford the high premium?

Retirees must keep a close watch on their retirement corpus because it can erode quickly if timely measures are not taken to mitigate the impact of inflation

Retiring early is an attractive proposition as it can free your time to follow your passion. But before embarking on that path, here are five financial aspects to consider

Having too many loans can create many problems, including keeping tabs on timely repayment and changes in the interest rate scenario. Clubbing multiple loans into one or two bigger loans can provide seniors with several financial benefits

Is it possible to get a loan even after retirement? The answer is, yes! Provided you know the right way to get the loan approved!

For some retirees, it is better to live in a rented house than in their own home. In many situations, a rented house works out to be a better proposition.

Senior people living alone have to undergo several hardships related to their physical and psychological well-being. Do elderly care and counselling services cater to their need in such a situation?

Seniors require special attention and support, often unavailable when they live alone in their own homes. However, remember some critical aspects before moving to an old-age home

You may risk your lifetime effort towards getting the desired retirement life if you don’t get the right financial instruments. Do you want to know about such must-have financial products?

Online transactions have made senior citizens' shopping, banking and other activities extremely pleasant and comfortable. However, they must be aware of safety measures to avoid fraud

Many people do not have enough to retire financially. Even when they have, life is still not comfortable because of a lack of financial literacy. So, how to secure old age?

With ageing and the impact of inflation, health insurance cost increases consistently. Is there a health insurance option available in the market to reduce your cost?

The National Pension System (NPS) has grown in popularity in recent times among all types of investors. Its most attractive features include tax deductions, inculcating investment discipline, etc.

Did you know that there are types of pensions plan available for your retirement? You have to choose the right one as per your requirements, risk appetites and tax efficiency

Despite being the safest and one of the highest-paying fixed-income assets, SCSS may not be sufficient for your financial needs. Think of investing in a diversified set of assets to optimise your returns

Inflation is the rate of increase in the prices of commodities over a period. If you ignore inflation, which continuously diminishes the value of money, you may erode your entire wealth

Senior citizens are usually suggested to avoid taking financial risks because they are usually not in a position to take risks because of age-related limitations. However, there are some situations when it is fine for them to take the risk. Here they are

There are three aspects of personal finance that senior citizens must keep in mind. They are, how to invest, how to manage risk, and how to plan to meet expenses

Senior living has emerged as a popular housing option for a large number of people, but still, there are several myths which need to be debunked

Equities are one of the very few investment instruments that have the potential to beat inflation by a big margin over the long term. But should senior citizens include it in their portfolio or avoid it because of its risky nature? We explore

Managing finances efficiently during retirement is critical to avoid financial distress. So judicious use of money, health, and insurance should be your top priority

Senior citizens can do most of their financial transactions while sitting at their homes, provided they have a bank account with an online banking facility or a debit or credit card

Elderly parents can avail of legal provisions under the Maintenance and Welfare of Parents and Senior Citizens Act, 2007, to protect them from situations like property grabbing and abandonment by children

You may think of investing and saving later to splurge the money now and have fun. But that later comes a little too late. The result is you start investing large sums in risky assets to cover up for the lost time, which does not help

There is a thin line of difference between financial freedom and financial distress and the line separating them is financial literacy

In recent years, Initial Public Offerings (IPOs) have made waves in the stock market. Is it safe for senior citizens to invest in IPOs, or should they skip it completely?

Your retirement goalpost may change for factors like the working years left, health condition, lifestyle, income growth, expenses, debt, etc., so how can you know how much to save for old age?

Mutual funds have historically outperformed other traditional avenues of investment. So, it’s important to include them in your financial pan if you want to build a good corpus for your retirement

While other situations can be postponed, a medical emergency must be attended to on priority, so seniors should surely have a separate emergency fund

Artificial intelligence is the latest technology to help humans perform tasks which are quite routine. As technology improves, artificial intelligence can also be used for complex tasks

Life is uncertain. It has its ups and downs. While ups make people happy, satisfied, and contended, downs are accompanied by loss, trauma, and financial distress. To sail over the downs, we need an emergency fund

Senior citizens aged 60 to below 80 with income less than Rs 3 lakh in a financial year are exempt from filing the income tax return (ITR), but they can do it for their own interest

Growth in wealth is essential not only for the young and those in their middle ages, but also for the retirees. It becomes more important for them, because there are fewer avenues to increase their wealth, and they also need to outpace the impact of inflation

Failing to plan is planning to fail. But sometimes, despite our best effort and a well-laid plan, things go astray, and we miss the target. In the case of retirement corpus, this is often the case

Take a health policy as early as possible to protect yourself from any unforeseen medical expenses because if you miss out, you may not get many choices after retirement

Are you planning to move into senior living communities? You must take care of your age-related needs, facilities available, pricing, and costs, such as maintenance, society charges, etc.

It becomes difficult to recover from your money mistakes once you cross the age of 50, and almost a Herculean task once you are in your 60s. So, it’s important to be aware of some of the important money mistakes lest you too end up making one

The financial journey is dynamic. With the passage of time, you may witness several changes in your family set-up, income, expenses, wealth and financial goals. You must ensure that appropriate estate planning is in sync with your changing financial journey to protect the interest of your loved ones

Senior living caters to the specific needs of senior citizens. The property structure and the amenities are designed in such a way that it suits their needs. Such properties may cost a bit more than a regular home, but in terms of value for money, a senior citizen may find them to be of greater value

After we retire from active professional life, like a job, business, or professional services, the regular cash flow is no more a recurrent event. It stops in most cases

The availability of choices in the mutual fund universe make them highly attractive for senior citizens. But it is also important for the elderly to be aware of the risk involved in mutual fund investments

Having knowledge about the various schemes meant for the senior citizens can greatly benefit the seniors in terms of financial stability after their retirement. The government has also implemented a range of schemes specifically designed to provide regular income and support healthcare needs for senior citizens

Taxes can significantly reduce your disposable income after retirement. Investment planning can help you reduce your tax liability and maintain a comfortable lifestyle after retirement

When we retire from active professional life, our main concerns are twofold; preserve the corpus that we accumulated for retirement, and get decent returns on it

The empty Nester stage is the age between late 40 and 60. Till then, you think about nothing but your children and their future. It is also the stage to plan life after your retirement

Investing your retirement corpus of Rs 1 crore needs better planning than when you are working, as the risk-taking capacity exhausts after you retire and you do not have an income source

Though retirement is a personal decision, several indications can help you determine the right time to retire. You must consider aspects such as health, finance and lifestyle before deciding

Planning for inheritance is simple for married people. There is enough literature available to guide them on how to plan their inheritance. But the case is not so simple for single people.

Post-retirement risk appetite usually comes down. So, you must invest in equity instruments when working towards your retirement corpus.

You work many years to create wealth not only to live a better life but also because after you depart to a heavenly abode, your loved ones can get a legacy as a gift in your fond memories

Senior Citizens Savings Scheme is a risk-free investment backed by the government. Surety of returns, low-risk involvement, and quarterly payout makes it a hot favourite for senior citizens

As individuals approach their retirement age, securing a steady financial future becomes a top priority. FDs often stand out as a preferred option among the other investment alternatives

A big provident fund payout offers different challenges, even though it is a good challenge to have. The challenge is to divide the payout for different purposes after your retirement

Interest rates on senior citizen FDs have increased to as high as 9.6 per cent per annum, is it the peak of the interest rate cycle, or should you wait? A senior citizen FD investment strategy needs to be planned well to get benefit of interest rate hikes

Technological advancements happened so quickly that they made many of the elderly and senior citizens vulnerable to financial fraud. How senior citizens can stay safe from financial fraud?

Senior citizens may come across financial situations when they can’t get immediate access to their savings. In such a situation, personal loans for pensioners can prove to be a handy borrowing tool

After retirement, you may want to settle down and plan to buy your own home. While an under-construction property may look cheaper, it’s often a better choice to go for ready-to-move-in houses

As senior citizens plan to travel abroad, they must consider carrying suitable money instruments that offer convenience, safety, and cost-effectiveness

You can use your house for regular payments after you retire. A reverse mortgage loan is such a product which allows you not only to get a regular payment but also the same house to live in till your death

Regular income is one of the necessities of life. An annuity for retirement income is a personal choice that depends on your individual circumstances and financial goals.

Equity mutual fund investments come with certain risks due to volatility in the stock market, and as such, investors should keep certain factors in mind before making an investment decision

Investing for a tax-saving purpose need not be a last-minute activity. Senior citizens can't afford to make a mistake in their tax-saving exercise. Understanding various options, selecting the right one, and putting in an appropriate amount should be the outcome of a well-thought-out plan.

Over time, planning for the future becomes the topmost priority, especially for senior citizens. Estate planning becomes an important task, meant to be done with utmost care and alertness. Here are some important points that senior citizens should mention while writing a will.

While the need for life insurance may change as people age, it is still critical for retirees and senior citizens to safeguard their financial goals while looking out for their loved ones

The set-up where senior citizen couple live alone in an apartment is growing rapidly as a large number of people are migrating from one city to another for better job prospects. Preference for senior living homes has increased among retirees looking for better care, comfort and security

Usually, banks ensure that home loan tenure does not go beyond the retirement age of borrowers. However, in some cases, this may not be true. This is a tricky situation because you are no more earning a regular income.

As you grow older, the need for extra medical care goes up. It is vital to choose a health policy that covers all your needs and ensures a free and healthy life after the age of 60.

Senior Citizens Savings Scheme is specifically designed for catering to the needs of people in the age group of 60 years and above. Public Provident Fund, on the other hand, is one of the safest long-term and low-risk investment instruments that senior citizen investors find very attractive because of the benefits it offers.

As you grow old, taking a loan or availing of new credit can become more challenging due to the uncertainties regarding your income, cash flow, financial soundness, and life expectancy. Several factors should be kept in mind when borrowing after your retirement

While the money received from the pension fund can support you through the retirement period, it is advisable to have a regular monthly income from your investment. 

The next big challenge after wealth creation is the appropriate distribution of it so that your efforts create more prosperity for the generation. An effective and properly thought-out Will does it.