Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

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

Retirement Planning Guide for Working Men and 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.

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

Kotak e-Invest

Download Brochure


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

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


- A Consumer Education Initiative series by Kotak Life

Similar Articles

What is the difference between Life Insurance and ULIP?

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

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

Why ULIP Should Be a Part of Your Investment Portfolio?

5 Common ULIP Myths That You Should Stop Believing

Give Your Retirement Savings A Booster-Shot with Annuities

Importance of Retirement Planning

Top 6 Reasons Why You Should Get A Pension Plan

What are Fixed Maturity Plans and Why Should I Invest in Them?

What is the Minimum Lock-in Period for ULIP?

Do ULIPs Give Good Returns On Investments?

How Do Annuity Options Work In NPS

How Does NPS Work?

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

How has ULIP Grown Over the Last 3 years?

Top Investment Options for Retirement Planning

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

How To Keep Your Retirement Accounts from Being Hacked?

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

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

Benefits of Early Retirement Planning in India

How Much Corpus Does One Need for Retirement?

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

Save Early to Keep Living Your Dreams Post Retirement

What Are Superannuation Benefits?

What are the Rules for Exit From NPS?

How Has NPS Performed in Comparison with Other Instruments?

How To Choose The Right Pension Plan?

How to Win at Retirement Savings?

What are the Charges Levied on ULIP?

Advantages of Pension Schemes and Retirement Plans

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

Why You Should Invest In An Annuity Plan?

Know Why You Should Stay Invested in Your ULIP Plan

What Are Retirement Pension Plans?

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

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

Can NRIs Invest in ULIP Plans Offered in India?

Retirement Planning at 50? You Are Still Good to Go

Importance of financial Planning for Retirement

Retirement Planning: Use our Retirement Calculator to Plan Ahead

Are Annuities Great For Early Retirement?

Un-Retirement - Are You Ready For It?

A Beginner's Guide to Understanding 401k Retirement Plan

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

Best Insurance Plans for a Guaranteed Monthly Income After Retirement!

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

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

What are the Uses of ULIP?

Do Pension Plans Allow any Death Benefits?

What Are Mortality Charges In ULIP?

Is ULIP a Good Option for People Above 60?

Is It Worth Buying ULIP Plans For 10 Years?

Invest for your second innings with a guaranteed savings plan

NPS for Housewife

How Safe is it to Invest in ULIP plans?

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

Is ULIP Better Than FD?

Why Should You Invest in NPS?

Types of Pension Plans for Your Retirement

What are the things to consider before buying ULIPs?

A Quick Guide to Retirement Plans

Tips to invest your voluntary retirement scheme money

Retirement: A New Start to Life!

Calculating a Retirement Corpus that can Support Your Lifestyle

7 Secrets that can Make Your Post-Retirement Phase Prosperous

Saving for approaching retirement with retirement insurance

FAQs on Taxation of ULIPs

यूलिप में 8 शुल्क जो आपको अवश्य जानना चाहिए

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

What are ULIPs and their Types?

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

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

How can NPS help you save tax?

Retirement Planning for Millennials

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

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

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

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

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

What is Fund Value in ULIP?

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

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

Types of Retirement Plans

5 Notable Investment Options for Retirees

Benefits Of Retirement & How Investments Can Help You Enjoy Them

Top 4 Myths About ULIP Investments You Should Know

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

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

5 Steps to Gift a Smart Retirement Plan to Your Parents

Top 6 Flexible Benefits That ULIPs Offer

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

What are the Instruments Available for Building a Retirement Corpus?

How Can I Achieve My Wealth Goal with ULIP Investment?

Ten Signs That You're Ready to Retire

Is ULIP a Complex Financial Product?

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

How should one decide on fund allocation within NPS?

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

Can I Surrender My ULIP Policy after 2 Years?

Benefits of Early Retirement Plans

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

How To Make Most of Your Money After Retirement?

How Does ULIP Work in India?

The Significance of Number 8,000 in Retirement Planning

Inflation: A Key Factor to Consider into Retirement Planning

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

Different Types of Retirement Schemes

What is a Defined Benefit Plan and How it Works?

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

Top 4 Mistakes To Avoid While Planning For Your Retirement

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

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

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

What are the Differences Between ELSS ULIP and Mutual Funds?

Which Pension Plan Suits You best?

Different Types of ULIP Investments in India

What tax benefits are there on saving for retirement?

ELSS vs ULIP: Which is a Better Investment?

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

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

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

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

What is Partial Withdrawal in ULIPs?

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

Meaning of Sum Assured in a ULIP

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

Retirement planning with a systematic life insurance plan

Demystifying the Retirement Planning Process

Understanding Annuity Plans

EPF Grievance Management: All You Need to Know

Which Is Better: ULIP or SIP?

What are the Benefits of ULIP - Explained

What is Lock-In Period in ULIPs?

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

Is ULIP A Good Investment Option?

Terminologies You Should Understand About Retirement Plans

How Does Pension Plans in India Works?

Long Term Investment Guide for Your Retirement

Pros and Cons of Retirement Annuities

What Happens to ULIP Premiums Paid if the Market Crashes?

What is a Retirement Plan - What are its Features?

5 Reasons to Buy ULIP for a Secured Financial Future

यूलिप और उनके प्रकार क्या हैं?

ULIP Plan or Traditional Insurance Plans - Which is better?

At What Age Should You Start Your Retirement Planning?

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