Mistakes to avoid while planning your retirement

A small mistake can make a big difference in planning for a comfortable retirement. What are the mistakes that can ruin your retirement planning? Learn how to make a solid retirement plan from Pratiba Girish, Co-Founder, Finwise Personal Finance at Money9 Helpline.

Manita Ralhan, Hisar: I am a 44-year-old woman and I am not comfortable taking risks. I invest in FD and pay EMI for my house. Is it necessary to invest in other assets?

Girish: Fixed deposits cannot beat inflation. They depreciate the value of your money. This is a mistake that people make that is they consider not taking risks equals not investing in assets like equities. But not investing in equities is actually a risk in itself because you won’t be able to build wealth. So, you will have a permanent capital loss. So, I think you should invest in mutual funds.

Those who have started late planning for investment, should double their investment quantum and also step up that. It should be done consistently.

Watch the full video here…