Here’s how you can invest for your retirement

It is essential to prepare for your retirement. But retirement is the goal that comes after years. In such a situation, how to understand how much money should be saved for retirement, where should it be invested? Money9 Helpline hosted Vishal Dhawan of PlanAhead to help identify common retirement planning mistakes.

Edited excerpts

Jyotsna Singh, New Delhi: This is my first job and I have just started investing in mutual funds. My portfolio includes one US Fund, one Flexi Cap, and One Nifty 50 Index. Should I start thinking about retirement planning from now?

Dhawan: Yes definitely, the early you start the easier your task becomes. One more important thing is the generation today wants to be financially free not just post-retirement even while they are working. I suggest you invest 20-30% of your income in investments then you will be able to achieve financial freedom soon. The combination you have allocated in your portfolio is good. You should increase your SIP every year.

Watch the full video to know more…