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Retirement Expo 40After40: Key Insights For Financial Wellness

As individuals approach the last milestone in their professional lives, the choices made during this crucial period can significantly impact their financial well-being.

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Outlook Money
January 24, 2024
Panel discussion on financial wellness

Panel discussion on financial wellness

Embarking on the journey towards a secure retirement involves careful planning and strategic decision-making. The Outlook Money Retirement Expo 40After40 recently hosted a panel discussion moderated by Amit Trivedi, Co-Founder of Osat Knowledge, revolving around the theme of ‘The Last Milestone.’

Dhruv Mehta, Chairman of Sapient Wealth Advisors & Brokers, highlighted the significance of a well-established retirement corpus. He spoke about the challenges one might face without adequate financial planning, urging individuals to start early in life to secure a comfortable retirement. Mehta suggested considering options like extending working years or reducing monthly expenses for those without a planned retirement corpus.

Lovaii Navlakhi, MD & CEO of International Money Matters, stressed the importance of accounting for unexpected costs when planning a retirement corpus. Navlakhi recommended creating an emergency retirement fund to handle unforeseen expenses. He also underscored the need to verify KYC compliance for all investments, emphasising the importance of consistency in personal details across different investment platforms.

Also Read: Mindset For Retirement More Important Than Product; Lack Of Planning A Ticking Bomb: Experts

Sadique Neelgund, Founder of Network FP, shared his experience initiating retirement investments in his early working years. Encouraging others to follow suit, Neelgund advocated for an early start in retirement planning, citing the adage that the best time to invest was twenty years ago, with the second-best time now. He highlighted the role of a retirement fund during medical emergencies and cautioned against relying on parents as an emergency fund or children as a retirement plan.

Sandeep Jethwani, Co-Founder of Dezerv, explained the cost considerations in retirement planning. Advising against risky ventures like trading or entering the F & O segment, Jethwani stressed the importance of consolidating multiple portfolios into a single data sheet for efficient portfolio management. He warned against overlooking expenses when building an investment portfolio, emphasising the need for regular portfolio reviews.

Also Read: Navigating Financial Prosperity Through Disciplined Investing

Vivek Rege, Founder & CEO of V R Wealth Advisors, focused on ensuring accessibility and clarity in managing funds during incapacity or passing on the corpus to nominees. He highlighted the significance of structuring funds in a single or joint name to avoid confusion during life events. Rege pointed out the need for a well-defined foundation to facilitate the smooth inheritance of the retirement corpus.

The panellists collectively conveyed a resounding message – the importance of early and meticulous retirement planning. From creating emergency funds to steering clear of unnecessary risks, the insights shared at the Outlook Money Retirement Expo 40After40 serve as a comprehensive guide for individuals navigating the last milestone in their financial journey. As echoed by the panellists, starting early, staying informed, and establishing a robust foundation are key to achieving a secure and stress-free retirement.

 

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