Start saving early and you might have a prosperous retirement. Indians used to think that public provident fund (PPF) and fixed deposits along with post office savings was considered the smartest way to save for your retirement. But the time has changed now. This is not the most suitable saving strategy for your retirement. You can save by using better options. 


Saving Plans


Reasons to start saving early:

  • Due to increasing consumption demands, the prices are shooting through the roof. Rising inflation could cost you the shortage of funds to support you for an average living standard.
  • Indians have a higher life expectancy, nearly of 75 years. So more numbers of years you live for, the more money you have to save.
  • The amount you have to save increases dramatically when you delay. Small amounts saved over a shorter period is better than saving higher amount for the lesser time.
  • Crossing your 30s, it would become more and more difficult to save as your commitments with your spouse and children may impair your ability to save.
  • Today the teenagers are more likely to get separated from their parents. Nuclear families are becoming more and more popular. So it is a not a good idea to depend on your children after you retire.

How can you save?

  • Start planning for investments. Though making an investment plan is complex but it brings you many benefits. 
  • Start investing in mutual funds, stocks, pension schemes, hybrid products, etc. 
  • If you want to sail through smoothly after your retirement start making disciplined investments.
  • Two incomes are always preferable for long term plans and large families.
  • Bring a change in your saving strategy with changing life stages and changing incomes.
  • Set up an emergency fund to cater your financial needs.


Saving for your future is the best habit that you must love. Little waves make a big ocean. So your small saving attempts can bring a big difference in your future. Start saving early so that you can live a glorious life in your retired life. 


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