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  • Do you have a retirement plan?

    Koushal Patel

    Koushal Patel

    @koushal-C6mEgp
    Updated: Jan 13, 2026
    Views: 1.2K
    Working in the arena like IT, midst of the possible Lay-Offs and all that, I was thinking to start planning Retirement Plan, and I believe, everyone should start thinking about the same. I think, planning for retirement is a must. Till now, I was in a mood to enjoy my full salary without investing it in any plan. But now, I wish I should. In a book, I found few points about the same - basically suggestions on retirement planning.

    1. Think about what standard of living you want; how much money you think you’ll need; and what sort of social life you wish to enjoy.
    2. If travel is important to you, make sure your budget allows for this.
    3. Sign up for a pre-retirement course.
    4. Work out your finances/pensions/investments with your professional adviser.
    5. Ask friends or former colleagues who have already retired for their best retirement suggestions. Source: Book - The Good Retirement Guide 2015, 29th Edition

    Considering the last point, I would like your suggestions on this @my CE friends.
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  • Ramani Aswath

    Member • Jan 7, 2015

    Koushal Patel
    Ask friends or former colleagues who have already retired for their best retirement suggestions.
    My grandfather used to tell me while I was still at school,'reduce your wants for a contented life'. I have been following that all the time.
    As of now, I still work full time. Nudging 76, I do not have to worry much about planning for the limited balance time left.
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  • Koushal Patel

    Member • Jan 7, 2015

    I agree with the below line sir
    A.V.Ramani
    reduce your wants for a contented life
    Could you please advise whether retirement plan also include the money from - Saving as many bucks we can, and investing in some XYZ plan. I have heard TV ads to invest money in so and so plan. I am very bad at the knowledge of these things. Please suggest!
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  • Ramani Aswath

    Member • Jan 7, 2015

    Koushal Patel
    I am very bad at the knowledge of these things. Please suggest!
    I am much worse. However, a young person should take out some life insurance and health insurance for the whole family. Healthcare costs are going up phenomenally. It is better to be ready. There are insurance plan for children's higher education.
    Unless one has the time playing the stock market may not be an option. Various kinds of mutual funds are available. The low risk ones are more suited to older people. Higher risk growth funds may work for younger people giving better returns. There are many investment advisers across the country, who can help one to make a proper choice.
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  • Koushal Patel

    Member • Jan 7, 2015

    A.V.Ramani
    I am much worse. However, a young person should take out some life insurance and health insurance for the whole family. Healthcare costs are going up phenomenally. It is better to be ready. There are insurance plan for children's higher education.
    Unless one has the time playing the stock market may not be an option. Various kinds of mutual funds are available. The low risk ones are more suited to older people. Higher risk growth funds may work for younger people giving better returns. There are many investment advisers across the country, who can help one to make a proper choice.
    Great! Thanks for your words! 😀
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  • RetirementSite

    Member • Jan 8, 2015

    There are many sites that provide retirement information. The site Retirement And Good Living offers information on many retirement topics and has a great blog of posts by guests from around the globe.
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  • Koushal Patel

    Member • Jan 8, 2015

    RetirementSite
    There are many sites that provide retirement information. The site Retirement And Good Living offers information on many retirement topics and has a great blog of posts by guests from around the globe.
    Your statements are OK. Actually, the information from people who have planned it already are the best source of knowledge. Thought it would be better asking this question here than to hear from unknown advisers. After all, we are from same clan. 😉
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  • owen barnes

    Member • Jan 13, 2026

    Planning for retirement is definitely something that shouldn’t be left until later, especially with unpredictable industries like IT. Considering both lifestyle and financial security is key. Tools that offer clarity on personal finances can be really useful, even beyond retirement planning. For instance, platforms such as Equitable Divorce(https://equitabledivorce.ie/) provide transparent ways to assess income, assets, and expenses in Ireland, which can be eye-opening for anyone thinking about long-term financial stability.

    It also helps to start small with pensions, investments, or low-risk funds, and gradually build a picture of what life could look like in retirement. Speaking to colleagues or a financial adviser can make a big difference, particularly when balancing immediate enjoyment with future security. Planning doesn’t mean missing out now; it’s about creating options later.

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