New Delhi: Inflation and financial uncertainty are increasing day by day. These risks increase even more with age. Health problems also become a daily affair in old age. In such a situation, if you have not planned for retirement, then you may face a lot of difficulties.

We are telling you some tips, based on which you can make your retirement much better. Then you will not need to depend on anyone in your old age.

In how much time should I retire

Your goal should be very definite while planning for retirement. You can decide your retirement yourself or you can plan according to the remaining years of retirement. The less time you have left for retirement, the more you will have to save so that the required fund for retirement can be prepared as soon as possible. Along with this, you will also have to curb unnecessary expenses.

How to prepare a retirement fund

Before implementing the retirement plan, you have to calculate all your expenses. If there is any debt, try to finish it as soon as possible. Then after the necessary expenses, plan for savings. You do not have to save a lump sum amount. You can create a big fund for retirement even through small savings. But, for this, you have to be financially disciplined and keep investing continuously.

In which scheme should you invest

You can invest in different schemes for retirement. But, you have to take care of risk management. This means that do not invest all your savings in a single scheme. You can invest some in the stock market. You can also invest some in SIP or debt funds. Gold bonds can also be a good option. For this, you can also take advice from a financial advisor.

These plans can be the best

You can create a big fund in the long term through Systematic Investment Plan (SIP) in Mutual Fund. You can choose the fund house and scheme as per your convenience. On the other hand, National Pension System (NPS) is a scheme of the Government of India. Investing in it is also a good option. In this scheme, the money matures in 60 years. You can also go for Atal Pension Yojana. But, your income should not come under the purview of income tax. The age limit for investment in this is from 18 to 40 years.