{"id":19846,"date":"2013-05-09T16:39:18","date_gmt":"2013-05-09T11:09:18","guid":{"rendered":"http:\/\/vskills.in\/certification\/tutorial\/?p=19846"},"modified":"2024-04-12T14:15:54","modified_gmt":"2024-04-12T08:45:54","slug":"introduction-retirement-planning","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/introduction-retirement-planning\/","title":{"rendered":"Wealth Management | Retirement Planning"},"content":{"rendered":"<h1>Retirement Planning<\/h1>\n<p>It refers to the allocation of finances for\u00a0retirement. The goal of retirement planning is to have a financial independence, so that employment after retirement is\u00a0optional\u00a0rather than a necessity. The aim of retirement planning is,<\/p>\n<ul>\n<li>Assess\u00a0readiness-to-retire\u00a0given a desired retirement age and lifestyle, i.e. whether one has enough money to retire; and<\/li>\n<li>Identify actions to improve readiness-to-retire.<\/li>\n<li>Acquire financial planning knowledge<\/li>\n<li>Encourage saving practices<\/li>\n<\/ul>\n<h2>Purpose<\/h2>\n<p>It can be started at any age. The earlier start an individual has in planning his\/her retirement planning, the better chances there are of an efficient retirement back-up. Planning for retirement helps an individual in the following ways.<\/p>\n<ul>\n<li>It is the tax favored way of setting aside money during the working years for retirement.<\/li>\n<li>It reduces taxable income in the years that the individual has contributed.<\/li>\n<li>It provides an estimate of the income during the retirement years.<\/li>\n<\/ul>\n<h3 class=\"vskills2\"><span lang=\"X-NONE\">New Pension Scheme<\/span><\/h3>\n<p class=\"VSKILLbodytext\">New Pension Scheme (NPS) is a pension scheme launched by Govt. of India on 1st April, 2009 and is a defined contribution based pension scheme. It differs from the existing pension scheme in a sense that NPS has a defined contribution structure where an individual can decide where his contributed money will be invested.<\/p>\n<div class=\"apply\">\n<h3>Apply for Wealth Manager Certification Now!!<\/h3>\n<p><a href=\"http:\/\/www.vskills.in\/certification\/Certified-Wealth-Manager\">http:\/\/www.vskills.in\/certification\/Certified-Wealth-Manager<\/a><\/p>\n<\/div>\n\n\n<p><strong><a href=\"https:\/\/www.vskills.in\/certification\/tutorial\/wealth-manager\/\" target=\"_blank\" rel=\"noreferrer noopener\">Go back to Tutorial<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Retirement Planning It refers to the allocation of finances for\u00a0retirement. The goal of retirement planning is to have a financial independence, so that employment after retirement is\u00a0optional\u00a0rather than a necessity. The aim of retirement planning is, Assess\u00a0readiness-to-retire\u00a0given a desired retirement age and lifestyle, i.e. whether one has enough money to retire; and Identify actions to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"categories":[4,59],"tags":[5048,5047,4977],"class_list":["post-19846","page","type-page","status-publish","hentry","category-accounting-banking-finance","category-wealth-manager","tag-introduction-to-retirement-planning","tag-retirement-planning","tag-wealth-management"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wealth Management | Retirement Planning<\/title>\n<meta name=\"description\" content=\"Retirement planning refers to the allocation of finances for retirement. 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