Post retirement planning is also as important as retirement planning if not more. People are often confused when it comes to post retirement planning. The rising costs in almost every sector, be it health, lifestyle, travel, vacation, entertainment etc. have the potential to throw any budget out of gear.
Whenever a person prepares a financial plan for his retirement, he estimates the needs according to a projected economic situation and lifestyle requirements. However, things can turn in an instant. For example who would have predicted that the inflation rate in India will touch 12 percent, while it was just around 5 percent a year ago? The cost associated with every conceivable item has skyrocketed during the past one year. This is a practical example of how fluid the situation can be when it comes to finances. The inflation is very much unpredictable and eats into your savings.
