|Few pictures from event|
As an IT professional working in private sector, we are never assured about our future. When I graduated from college after completing engineering degree the whole IT market was down & the whole world was suffering from recession, whereas when I joined the engineering, Computer Science /IT was the most popular and highest paying stream. It means no one knows what is gonna happen in future. It might be possible you are earning good & feel that currently you are financially strong. But have you ever given a second thought when you will retire from your job or work, what will be the source of your income. Those who were working in government jobs had a privilege of getting the pension, but as far as I know the government has stopped giving pension in recent years or new people who are joining their jobs.
So now it's a very important question to ask "Why we need to plan for Retirement". I certainly got the answer after attending the Reliance bloggers meet. So let me share my experience & what I understood about #LambiinningKiTaiyari after attending the event.
The event started with the introduction of bloggers & officials from RCAM: Mr. Sundeep Sikka (CEO), Mr. Himanshu Vyapak (Deputy CEO), Mr.Sharad Goel(CCO) & Mr. Ajay Jethi(CMO). After the brief introduction on agenda of the meet, the officials have played some presentation on the screen. The initial slide were consist of some facts & figures on Retirement planning.
We all need retirement planning since we…
Below are the few facts regarding the Retirement solution which were explained to us during the whole session.
About Reliance Mutual fund:
It's a one-stop Equity & Debt oriented Retirement solution.
Reliance retirement fund is an open ended notified tax saving cum pension scheme with no assured return. it has 2 schemes with separate portfolios as per below:
Key features of the Reliance Retirement fund:
- It comes with flexibility to manage investment which includes auto transfer to move from accumulation to distribution.
- Unlimited switch between schemes.
- Exit load of 1% on redemption before age 60, subject to a lock-in period of 5 Yrs.
- Auto transfer Facility.
- Systematic transaction: one can accumulate using both SIP & lump sump over the earning years.
- It can also be used for systematic withdrawal plan (SWP) to use what is needed after retirement.
- Tax benefits as per the clause (XI V) of sub section (2) of section 80C of the income tax act, 1961, the individual investor will get tax deductions for investment up to Rs. 1.5 lakh in a Financial Year.
This plan is an Ideal way to Invest for Young as well as those who are nearing retirement.
The below graph shows that how much one can make after investing Rs 5000/ month for 30 years with ROI of 15 % which is almost double what we get in traditional fix deposits.
At the end of the session, we had been asked to spread the word on retirement planning. I have done my part. Also, as I am aware of retirement planning my next step will be too safe my retirement days.
Overall it was an interesting meet with lots discussions & outputs on investment & financial planning.
Are you planning for your golden days, need help Please Visit Here for more details?
PS: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.