Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak Guaranteed Fortune Builder

A plan that offers guaranteed income for your future goals. Know more

Kotak e-Term

Protect your family's financial future. 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 life cover. Know more

Kotak e-Invest

Insurance and Investment in one plan. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Here's Retirement Planning Guide for Working Men & Women

Read here some essential tips for retirement planning for working men and women on this article. Visit Kotak Life to know more on Retirement Plans

  • Mar 11, 2021

A secure retirement is a dream of many but the reality of a few. This is because of the lack of retirement planning, especially for young men and women. For working men and women, basically between 25 and 35-years of age, retirement might be the least of their worries. However, it is the most critical time to think about retirement because retirement planning requires time and an efficient strategy, which works best when deployed early in life.

Here is a retirement planning guide for working men and women to secure their golden years:

  • Identify your financial needs and create retirement goals: The first step in creating a fool-proof retirement plan is to know how much you would require during the non-working years of your life. It is important to remember that with time your needs will increase, they never reduce. As you grow older, you would need more money to take care of your medical expenses, support your standard of living, and even create an emergency corpus. As per experts, you would need at least 10-15 times your current monthly income to support your golden years. Based on your needs, you can set your retirement savings goals and figure out effective methods to reach the target.
  • Start saving early in life to accumulate significant corpus in the long-term: Irrespective of how small the amount is, it is essential to start saving as early in life as possible. When you are working and young, you have a defined income source, fewer responsibilities, and a physically fit body. Hence, the idea of saving might not appear attractive. But during retirement, you will have a pile of medical expenses in addition to several responsibilities. Therefore, it is best to set a savings target and aim to achieve it.
  • Invest wisely to optimise returns for your future: Investments lay strong foundations for the coming years. So, the sooner you begin making wise investments, more secure your retirement years will be. Starting early helps you take advantage of the power of compounding, and also structure your portfolio as per your financial needs, goals, risk tolerance, age, etc. You can opt for Kotak Retirement and Pension Plans to take care of yourself during retirement. These plans help your secure a sense of self-reliance, by guaranteeing a relaxed retired life, assurance of savings and above all your emotional well-being.
  • Plan for emergencies to minimise the burden on your retirement savings: The value of an emergency fund is non-negotiable. A significant component in retirement planning is to create an emergency fund for those unplanned events. Ideally, you should set aside three months of your living expenses in a contingency reserve. Also, be strict with the usage of this money, and set guidelines for its usage. Alternatively, you can create an emergency corpus by investing in secure options like life insurance and health insurance plans. Kotak Life offers various life insurance plans to meet your retirement needs. These policies will act as your reliable assets for times of need.
  • Work longer to save better for the retired years: Life expectancy numbers have recorded a sharp increase. Also, mounting living expenses require you to work longer than expected and ensure you accumulate significant funds for your retirement. Moreover, you should ideally start planning for your post-retirement career during the working years of your life. This will help you stay independent in the long-term.


Retirement planning is an exercise you should take up as you begin working. Both working men and women should understand the different retirement plans that can work best to their advantage and secure their non-working years.

Kotak Life Time Income Plan

Download Brochure


  • 6 Plan Options
  • Tax benefits ^
  • Higher annuity rates for higher purchase price
  • 4 Annuity Modes

Ref. No. KLI/23-24/E-BB/1052


- A Consumer Education Initiative series by Kotak Life

Similar Articles

Benefits of Annuity Plan Investment

What Are Mortality Charges In ULIP?

Benefits of Early Retirement Planning

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

5 Best Investment Options for Senior Citizens in India

7 Secrets that can Make Your Post-Retirement Phase Prosperous

How Does ULIP Work in India?

What is the Minimum Lock-in Period for ULIP?

Why is it Good to Have a Retirement Plan Before Your Marriage?

What tax benefits are there on saving for retirement?

Retirement Planning for Millennials

Managing Your Money After You Retire

What are the Rules for Exit From NPS?

4 Tips to Avoid Running Out of Money in Retirement

How Does NPS Work?

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

Guide to Long Term Investment

How Much Corpus Does One Need for Retirement?

Here's are Advantages of Pension Schemes and Retirement Plans

Benefits of Early Retirement Planning in India

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

Early Retirement Planning Tips

14 Tips to Ensure Successful Retirement Planning

15 Passive Income Ideas for Seniors to Boost Retirement Income

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

The Rise of ESG Investing in Retirement Planning

ELSS vs ULIP: Which is a Better Investment?

Mistakes You Must Avoid While Planning Retirement

Importance of Retirement Planning

Demystifying Retirement Financial Planning

Plan Your Retirement in India - Retirement Calculator

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

3 Ways to Save Early to Keep Living Out Your Dreams Post Retirement

Turbocharge Your Retirement Savings with Annuities: Unlock Greater Returns

How to Maximize Your Retirement Savings with a Pension Scheme in India

NPS for Housewife

Turbocharge Your Retirement Savings with Annuities: Unlock Greater Returns

How To Check EPF Claim Status- The Complete Process

Here's Benefits of Post Retirement Investment Options

Retirement planning with a systematic life insurance plan

The Significance of Number 8,000 in Retirement Planning

A Quick Guide to Retirement Plans

6 investment options for the retired

How Has NPS Performed in Comparison with Other Instruments?

How Do Annuity Options Work In NPS

Understanding Annuity Plans

Which Is Better: ULIP or SIP?

Ten Signs That You're Ready to Retire

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

Retirement: A New Start to Life!

Types of Pension Plans and Their Tax Benefits

7 Best Guaranteed Income Plans 2023 in India Their Eligibility, Features & Benefits

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

How should one decide on fund allocation within NPS?

What is a Retirement Plan - What are its Features?

What is an Annuity Plan, and How Does Annuity Plan Work?

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

How to Save for Retirement With Retirement Investment Plans?

Tips to invest your voluntary retirement scheme money

Embracing the FIRE Movement: Financial Independence and Early Retirement

How to Win at Retirement Savings?

Reasons you should Buy a Retirement & Pension Plan

What is a Defined Benefit Plan and How it Works?

Long-Term Investing: Boost Retirement Income with an Income Booster

Pension Funds In India – Meaning, Overview, How Do Pension Funds Work, Types, Pension Plan Features and Tax Benefits

Terminologies You Should Understand About Retirement Plans

What are the Differences Between ELSS ULIP and Mutual Funds?

Top Investment Options for Retirement Planning

Retiring soon? Here’s why buying annuity plans may make sense

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

How to Protect Your Retirement Account from Hackers

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

What Are Superannuation Benefits?

Retirement Planning at 50? You Are Still Good to Go

Meaning of Sum Assured in a ULIP

Mastering the 30:30:30:10 Rule: A Guide to Effective Retirement Planning

Is an Annuity a Good Investment Option?

Types of Pension Plans for Your Retirement

Inflation: A Key Factor to Consider into Retirement Planning

Do Pension Plans Allow Any Death Benefits?

How to Calculate Your Retirement Corpus?

What are the Charges Levied on ULIP?

What are the Benefits of ULIP - Explained

What Is A 401(k) Retirement Plan?: A Beginner's Guide

Types of Retirement Plans

What Retirement Would Look Like 30 Years From Now

Retirement Planning: Use our Retirement Calculator to Plan Ahead

What Are Retirement Pension Plans?

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

Is ULIP Better Than FD?

Importance of financial Planning for Retirement

Different Types of Retirement Schemes

How To Choose The Right Pension Plan?

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

Changing Jobs? Reinvest Your Retirement Funds

How Can NPS Help You Save Tax?

Is it possible to live a financially independent life, even after you retire?

Know the Pros and Cons of Retirement Annuities

Which Pension Plan Suits You best?

What are the Instruments Available for Building a Retirement Corpus?

Which are the Best Investment Plans for Indian Senior Citizens in 2022?

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

Right Age for Retirement Planning and How to Go About It

Top 3 Reasons Why You Should Start Retirement Planning Early

How to Register An EPF Grievance Online

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

Gift Your Parents a Sound Retirement Plan