Does your job not have a pension?:Start saving now for old age, build a retirement fund, understand the details from experts

Awareness bout retirement planning in India is very low. There are millions of people in the country who do not plan for retirement in time. Because of this, they face financial crises in old age. According to a survey by ‘Grant Thornton’, India’s leading professional services firm, a large number of people are not saving enough for retirement. According to this survey conducted in 2025, about 50% of private sector employees invest very little money for retirement, while most people set aside only 1-10% of their income for it. Therefore, today in the ‘Your Money’ column, we will learn that- Question- What is a retirement fund and why is it important? Answer- A retirement fund helps deal with future emergencies. It also eliminates dependence on family and relatives after retirement. Why is it important? Question – Why is financial freedom important in old age? Answer- Financial freedom means being able to cover your own expenses. After retirement, the source of regular income ends. Without savings, one might have to depend on others. Financial freedom is important because- Question- How to start building a retirement fund? Answer- Building a retirement fund requires planning. Let’s understand it through a graphic- Question- What is the benefit of starting investment early? Answer- Understand all benefits from the pointers- Question- Where to invest for a retirement fund? Answer- The investment option depends on your age, risk appetite, and the time remaining until retirement. Understand this with a graphic- Question- What is the role of inflation in retirement planning? Answer- Understand it with pointers- Question – What are the benefits of retirement planning? Answer – Proper retirement planning has many benefits. Let’s understand it through a graphic. Question- Who should pay more attention to retirement planning? Answer- Retirement planning is essential for everyone, but some people should prioritize it more. Question- Which mistakes should not be made during retirement planning? Answer- Some mistakes should not be made while building a retirement fund. Let’s understand them with a graphic-
Question- How much savings are necessary for retirement? Answer- Its answer depends on the individual’s lifestyle and expenses- Question – How important is health insurance in retirement planning? Answer – Health insurance is a very important part of retirement planning, because- Question – How can sources of income be created after retirement? Answer- It is important to maintain a regular income after retirement.