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.

Top 3 Reasons Why You Should Start Retirement Planning Early

Planning retirement as soon as you start a job helps in viewing your life goals and the path to achieve them. Here are a few more reasons visit now to know.

  • Feb 15, 2022

Retirement may feel like it is long away when individuals are in their early 20s, 30s, or perhaps even 40s. Everyone, however, must realise that setting good retirement plans at a young age is an essential part of financial planning. Having a retirement plan as soon as you start a new career not only ensures a steady stream of income but also helps you avoid medical emergencies, achieve life goals, and become financially secure in the future.

Saving for retirement entails formulating financial investment options and setting aside assets to help you live your post-retirement life comfortably and achieve your life goals. When you take a new job, investing your assets in a good retirement plan can provide you with a comprehensive view of your life goals and the path to achieving them. Here are a few more reasons as to why you should start early retirement planning.

Good ROI

When you save money in a savings account, you get only a few benefits. However, if you start financial planning from a young age or when you start a new job, you’ll make a higher profit and get better returns on your financial investments. Investing your money in a pension plan as soon as feasible also helps you maximize your returns by providing you with more quantifiable profits.

Tax Benefits

When you start planning for the future immediately after acquiring a job, you will be able to take advantage of several tax benefits that you might not be able enjoy if you wait until later to save and plan for retirement. As per Section 80C of the IT Act of 1961, you can easily get tax exemptions on the premiums you pay for retirement plans. Furthermore, retirement plans can help you increase the extent of your tax returns.

You do not want to have to tackle financial issues in case of medical emergencies in the future. That can drain you and your loved ones mentally. Hence, if you are the primary breadwinner in your household, it is critical to start saving for retirement as soon as you start working. Investing as soon as you begin a new job will allow you to amass as much money as possible, thereby allowing you and your loved ones to live a happy and stable life. These investments will also help your family maintain financial stability in the event of your death.

The Big Picture

As you become older, life throws a lot of crucial questions at you. Most of the time, the solutions aren’t straightforward or clear-cut. These life choices have a significant financial impact and can’t (or shouldn’t) be made in isolation. Knowing where you stand with your retirement savings plan gives you the necessary perspective to make informed decisions. This, in turn, also enables you to make better financial and personal decisions.

These are just a few of the reasons why you should begin early. However, you will also find several other convincing factors when you conduct your own research. Start today for a better and brighter tomorrow!

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

Guide to Long Term Investment

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

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

4 Tips to Avoid Running Out of Money in Retirement

Is an Annuity a Good Investment Option?

Mistakes You Must Avoid While Planning Retirement

What are the Charges Levied on ULIP?

Which Is Better: ULIP or SIP?

Gift Your Parents a Sound Retirement Plan

What Are Superannuation Benefits?

Understanding Annuity Plans

6 investment options for the retired

Ten Signs That You're Ready to Retire

How Has NPS Performed in Comparison with Other Instruments?

Benefits of Early Retirement Planning

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

Here's Benefits of Post Retirement Investment Options

Is ULIP Better Than FD?

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

Reasons you should Buy a Retirement & Pension Plan

How to Register An EPF Grievance Online

Important Questions To Ask Yourself Before Choosing A Good Retirement Plan

How to Protect Your Retirement Account from Hackers

Which Pension Plan Suits You best?

What Retirement Would Look Like 30 Years From Now

Retirement Planning at 50? You Are Still Good to Go

Retirement: A New Start to Life!

7 Secrets that can Make Your Post-Retirement Phase Prosperous

Different Types of Retirement Schemes

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

What are the Instruments Available for Building a Retirement Corpus?

Here's are Advantages of Pension Schemes and Retirement Plans

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

What is a Defined Benefit Plan and How it Works?

Importance of Retirement Planning

Importance of financial Planning for Retirement

Know the Pros and Cons of Retirement Annuities

How to Win at Retirement Savings?

Right Age for Retirement Planning and How to Go About It

5 Best Investment Options for Senior Citizens in India

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

Top Investment Options for Retirement Planning

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

NPS for Housewife

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

Types of Pension Plans for Your Retirement

How to Calculate Your Retirement Corpus?

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

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

How Do Annuity Options Work In NPS

A Quick Guide to Retirement Plans

What are the Differences Between ELSS ULIP and Mutual Funds?

Retirement Planning for Millennials

How Much Corpus Does One Need for Retirement?

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

Retirement planning with a systematic life insurance plan

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

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

Demystifying Retirement Financial Planning

Inflation: A Key Factor to Consider into Retirement Planning

15 Passive Income Ideas for Seniors to Boost Retirement Income

How should one decide on fund allocation within NPS?

Turbocharge Your Retirement Savings with Annuities: Unlock Greater Returns

What are the Rules for Exit From NPS?

Meaning of Sum Assured in a ULIP

How To Check EPF Claim Status- The Complete Process

ELSS vs ULIP: Which is a Better Investment?

What tax benefits are there on saving for retirement?

Types of Retirement Plans

14 Tips to Ensure Successful Retirement Planning

What is the Minimum Lock-in Period for ULIP?

Retirement Planning: Use our Retirement Calculator to Plan Ahead

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

Benefits of Annuity Plan Investment

How Does NPS Work?

Plan Your Retirement in India - Retirement Calculator

Types of Pension Plans and Their Tax Benefits

How Can NPS Help You Save Tax?

What are the Benefits of ULIP - Explained

The Significance of Number 8,000 in Retirement Planning

How to Save for Retirement With Retirement Investment Plans?

Do Pension Plans Allow Any Death Benefits?

Turbocharge Your Retirement Savings with Annuities: Unlock Greater Returns

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

Managing Your Money After You Retire

Embracing the FIRE Movement: Financial Independence and Early Retirement

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

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

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

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

What is a Retirement Plan - What are its Features?

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

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

What Are Mortality Charges In ULIP?

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

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

Changing Jobs? Reinvest Your Retirement Funds

What Are Retirement Pension Plans?

Benefits of Early Retirement Planning in India

Tips to invest your voluntary retirement scheme money

How To Choose The Right Pension Plan?

Early Retirement Planning Tips

How Does ULIP Work in India?

Here's Retirement Planning Guide for Working Men & Women

The Rise of ESG Investing in Retirement Planning

Terminologies You Should Understand About Retirement Plans

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