Retirement: A New Start to Life!
Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term Plan

Protect Your family’s financial future with Kotak e-Term Plan. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Health Shield

Insurance against medical expenses related to heart, brain, liver and Cancer. Know more

Retirement: A New Start to Life!

Retirement: A New Start to Life!
  • 23rd Nov 2021 |
  • 605

You spend a significant amount of your life working - whether you are self-employed or in a 9-5 job. It becomes a part of your personality and your routine - so much so that you often use it to describe yourself while introducing yourself to someone. Since what you do for a living gives meaning to your life and your love for your profession never dies, it becomes challenging to think of a time when you no longer get to continue your work. With no steady flow of income, it becomes critical for you to think about the future and your life after retirement. So, what is retirement going to look like for you is a question you should ask yourself when considering your future life.

Well, after retirement plans look different for everyone. While it may be a relief for some to not have a full-time job, it may be stressful for others to channel all of their productive energy. Therefore, a retirement plan need not necessarily look a certain way, but just a few ideas you have for yourself that you wish to execute.

If you belong to the latter and are looking for ways to lead a stress-free life after retirement, you have landed on the right page! Read ahead about some post retirement plans or options that you can look at.

Ways to Enjoy Your Retirement

After retirement, you might not want to go back to doing something full time necessarily and may want to look at flexible work hours, and there are quite a few things that you can do!

  • Post retirement plans can include offering consultancy services. Having worked for years and understanding what goes on in a particular field, you can share the knowledge with those in need of expert advice and make a handsome amount of money.
  • Freelance work may also be an interesting prospect for those looking for a retirement plan. Freelancing allows you to plan your days on your terms, as per your capacity. With many organisations allowing senior citizens to volunteer, you can also volunteer with any NGO or social service organisation that engages with a population of your choice.
  • With the world going online, post retirement plans can be endless and include blogging about your passion, life, or anything relevant to your field of expertise. Social media today also offers a broad range of options for you to get started with something you wish to do. It could be cooking, sharing recipes, sharing music, dance, or art created by you.

The Right Time to Plan Your Retirement

Retirement need not look the same for everyone. What is retirement for you may not be retirement for someone else, which means that your retirement might be the period in your life when you finally take up that one hobby you always wanted to. It could be to travel to more cities and countries to engage with new people.

Whether you decide to start your own business, work as a freelancer, or just spend time with your family and enjoy each moment, one thing that becomes a necessity is regular income. One of the most popular methods to ensure a steady income flow is creating a corpus years before retiring. Having a financial plan in place when working helps you decide when, how, where, and why you need to invest in a particular plan, empowering you to lead a life that you planned for yourself.

Many post retirement plans such as the National Pension Scheme, an insurance-based retirement plan, or an employment-based retirement plan can all help you create a corpus, but how would you know which one to opt for? Moreover, even if you can select a particular, how will you invest in it after retirement?

Investing in such plans either requires you to make deposits when working, and the corpus keeps growing, and the returns are usually much higher. You need the best retirement benefits, and such investments aim exactly at that. With a well-thought-of plan, you can understand your needs and then invest accordingly to achieve them.

Choosing to be active post-retirement does not mean losing out on retirement benefits. On the contrary, you can avail them through the numerous retirement and pension schemes offered by private and government bodies. Your golden years and how you lead them is completely in your hands. All you need to do is think well, start early, and opt for the right retirement plans!

Kotak e-Invest

In this policy, the investment risk in the investment portfolio is borne by the policyholder.

Download Brochure

Features

  • Return of Mortality Charges*$
  • Enhanced Protection
  • Multiple Plan Options
  • Zero Premium Allocation Charges
  • Tax Savings^

Ref. No. KLI/22-23/E-BB/521

T&C

Browse our library of resources

- A Consumer Education Initiative series by Kotak Life

Similar Articles

ULIPs or Pension Plans – Which is a Better Retirement Plan?

Types of Pension Plans for Your Retirement

5 Retirement Planning Tips for a Financially Controlled Post-Employment Life

Top 4 Mistakes To Avoid While Planning For Your Retirement

What are the Benefits of ULIP - Explained

Know Why You Should Stay Invested in Your ULIP Plan

Is ULIP a Good Option for People Above 60?

How can NPS help you save tax?

Benefits of Early Retirement Planning in India

Why Should Retirement Planning Be on Top of Your Priority List?

Terminologies You Should Understand About Retirement Plans

Invest for your second innings with a guaranteed savings plan

How Does NPS Work?

10 Steps to Figure Out How Much Money You Will Need After You Retire

What Happens If I Stop Paying My ULIP Policy Premium After Paying the First Premium? Will I Still Get The Return?

What are the Charges Levied on ULIP?

How To Choose The Right Pension Plan?

Understanding Annuity Plans

What is the Difference Between EPF, VPF, and PPF? What are Their Tax Benefits?

Long Term Investment Guide for Your Retirement

Does Having Both ULIP Plan and Other Health Insurance Plan Make Sense?

5 Notable Investment Options for Retirees

Save Early to Keep Living Your Dreams Post Retirement

Is ULIP A Good Investment Option?

At What Age Should You Start Your Retirement Planning?

What is the Estimated Return Percentage on ULIP? Do Investors Get Compound Interest?

What are the Differences Between ELSS ULIP and Mutual Funds?

Benefits of Early Retirement Plans

Retirement Planning Guide for Working Men and Women

How is ULIP NAV calculated? How is the return calculated in ULIP?

Why Should You start Retirement Planning as soon as you start a job?

What are the Uses of ULIP?

Retirement Planning for Millennials

Here's What Retirement Would Look Like 30 Years From Now

What are the Advantages and Disadvantages of ULIP?

Pros and Cons of Retirement Annuities

The Significance of Number 8,000 in Retirement Planning

How To Keep Your Retirement Accounts from Being Hacked?

ULIP: Can You Surrender ULIPs or Withdraw Money from It?

How Can I Achieve My Wealth Goal with ULIP Investment?

5 Reasons Why ULIP Plans are One of The Best Retirement Planning Instruments

7 Secrets that can Make Your Post-Retirement Phase Prosperous

8 Charges in ULIP That You Must Know

What is a Retirement Plan - What are its Features?

Best Insurance Plans for a Guaranteed Monthly Income After Retirement!

Top 6 Flexible Benefits That ULIPs Offer

What are the Chances of Losing all my Money in ULIP and How Much Return Should I Expect?

How to Win at Retirement Savings?

Can I Surrender My ULIP Policy after 2 Years?

What is ULIP and Its Benefits?

FAQs on Taxation of ULIPs

ULIP Tax Benefits: यहां निवेश करने पर मिलते हैं 5 बड़े फायदे

What are ULIPs and their Types?

ULIP Plan or Traditional Insurance Plans - Which is better?

Calculating a Retirement Corpus that can Support Your Lifestyle

5 Steps to Gift a Smart Retirement Plan to Your Parents

Un-Retirement - Are You Ready For It?

A Quick Guide to Retirement Plans

A Beginner's Guide to Understanding 401k Retirement Plan

यूलिप के 8 शुल्क

Who Gets the Benefit After the Maturity of ULIP: The Proposer or The Life Insured?

5 Reasons to Buy ULIP for a Secured Financial Future

How Does Pension Plans in India Works?

Are Annuities Great For Early Retirement?

Is it Advisable to Withdraw the ULIP Insurance Policy After 5 Years?

What are the Instruments Available for Building a Retirement Corpus?

How Is ULIP Different from Other Life Insurance Plans? Where Can I Invest - ELSS, ULIP, or PPF?

Retirement Planning at 50? You Are Still Good to Go

Give Your Retirement Savings A Booster-Shot with Annuities

What Are Retirement Pension Plans?

What are the Rules for Exit From NPS?

Different Types of ULIP Investments in India

Why are ULIPs One of the Best Tax Saving Instruments?

Is ULIP Better Than FD?

How to Choose the Best ULIP Plans to Invest in 2022?

What are the minimum and maximum investment in ULIP? Would the Whole Amount Insured in The ULIP Insurance be Invested in the Market?

Importance of Retirement Planning

Single Premium ULIP or a PPF - Which One is Better?

How Quickly is Fund Switch Effected in ULIPs? Is it Done the Same Day or After a Particular Number of Days?

5 Common ULIP Myths That You Should Stop Believing

Can NRIs Invest in ULIP Plans Offered in India?

Top 4 Myths About ULIP Investments You Should Know

How To Invest Money In ULIP?

What is Partial Withdrawal in ULIPs?

What Happens to ULIP Premiums Paid if the Market Crashes?

यूलिप के फायदे (Benefits of ULIP in Hindi)

How Much Corpus Does One Need for Retirement?

What are the 4 Financial Phases of Retirement? How to Budget For Each One?

Is the ULIP Policy Surrender Value Taxable?

How to Build a Tax-Free Pension Income for Retirement?

What tax benefits are there on saving for retirement?

Which Is Better: ULIP or SIP?

Ten Signs That You're Ready to Retire

Why ULIP Should Be a Part of Your Investment Portfolio?

NPS for Housewife

What is the difference between Life Insurance and ULIP?

Is it Suggestible to Take a ULIP Plan Linked with a Term Plan?

What is an Annuity Plan and How Does Annuity Plan Works | Kotak Life

How Can ULIPs Help You Plan for Your Child's Future?

Different Types of Retirement Schemes

What are the things to consider before buying ULIPs?

ELSS vs ULIP: Which is a Better Investment?

What Are Superannuation Benefits?

Top 6 Reasons Why You Should Get A Pension Plan

Benefits Of Retirement & How Investments Can Help You Enjoy Them

How Do Annuity Options Work In NPS

Managing Your Retirement Income with an insured retirement plan

How should one decide on fund allocation within NPS?

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

How has ULIP Grown Over the Last 3 years?

Annuity Plan | How to Choose the Right Annuity Plan | Kotak Life

Importance of financial Planning for Retirement

What is the Death Claim Payable in the Case of ULIP?

What is Lock-In Period in ULIPs?

Types of Annuity Plan | Annuity Definition - Meaning & Key Benefits | Kotak Life

Retirement planning with a systematic life insurance plan

Retirement Planning - How To Calculate Your Retirement Premium in India?

10 Steps to Figure Out How Much Money You Will Need For Your Post Retirement Plans

Looking for Ways to Earn Lifetime Income in Retirement? Here Are 6 of the Top Options

Is ULIP a Complex Financial Product?

Meaning of Sum Assured in a ULIP

Why Should I Invest in ULIP?

Do Pension Plans Allow any Death Benefits?

Difference Between Unit-Linked Insurance Plans and Non-Linked Plans

Demystifying the Retirement Planning Process

What is NAV in ULIP, and How is it calculated?

Top Investment Options for Retirement Planning

Types of Retirement Plans

Worried About Running Out of Money in Retirement? 4 Tips to Avoid This Crisis

Retirement and Pension Plans in India- What are Your Options?

Is It Worth Buying ULIP Plans For 10 Years?

How Safe is it to Invest in ULIP plans?

Are You Planning an Early Retirement? Here's Why Buying Annuity Plan Will Make Sense

Which Pension Plan Suits You best?

Getting Close to Retirement? Six Key Retirement Planning Tips That Can Help You Retire

What Are Mortality Charges In ULIP?

Why You Should Invest In An Annuity Plan?

What is the Minimum Lock-in Period for ULIP?

How Has NPS Performed in Comparison with Other Instruments?

Which are the Best ULIP Plans in India for Children?

Retirement Planning Guide: These 5 Steps Will Help You Towards a Safe, Secure and Fun Retirement

What is Premium Redirection in ULIPs Plans | ULIP Insurance Plans | Kotak Life Insurance

Do ULIPs Give Good Returns On Investments?

Why Should You Invest in NPS?

What To Do With Your Retirement Accounts During An Employment Lapse?

How To Make Most of Your Money After Retirement?

What are the Maturity Benefits in a ULIP Plan: Fund Value Sum Assured or Only Fund Value?

How To Calculate The Present Value And Future Value Of Annuities?

6 Signs That You Are Not Financially Ready For An Early Retirement

What is Fund Value in ULIP?

Advantages of Pension Schemes and Retirement Plans

Saving for approaching retirement with retirement insurance

Tips to invest your voluntary retirement scheme money

How Does ULIP Work in India?

Inflation: A Key Factor to Consider into Retirement Planning

Why Are ULIPs Called Flexible Investments?