The Need of Financial Planning for Graceful Retirement Tremendous medical advancements have led to increased life expectancy and improved health outcomes. So, retired life indeed becomes a second opportunity for elders to lead life to the fullest while enjoying independence and dignity. Well, that sounds appealing and interesting, right? Yes, these dreams can be turned into reality if there is adequate planning to ensure the financial security of seniors. Though many governments may offer certain benefits of senior social security, it may not be sufficient to cover all daily living and healthcare needs. Therefore, savings for retirement must start well in advance during their career stint to handle various contingencies.
Seniors encounter many challenges after retirement in the transition to aging and are likely to face several post-retirement issues. Increasing inflation, declining health, expensive medicines, limited savings and resources are just a few. Fortunately, most of these hurdles can be overcome by making the right monetary investments and choosing reliable senior care options like assisted living facilities. Athulya Assisted Living, a premier state-of-art elderly living home in Chennai, is one such promising choice. It offers affordable spaces with flexible rental options for the retired communities of India. The enriching lifestyle at Athulya Assisted Living ensures seamless aging with its incredible and carefully planned senior-friendly amenities. These well-crafted homes provide a safe haven for elders where they can even pursue their post-retirement hobbies with full freedom. Staying here ensures that their lifetime savings are put to the perfect use for leading a meaningful retirement life independently. Why financial planning is needed for graceful retirement? • Equips elders to deal with unprecedented situations in life including unexpected medical emergencies. Such planning becomes particularly relevant to private sector employees and businessmen who may not be eligible for retirement benefits and social security schemes that are aided by the government. • Allows proper fund sourcing to sustain the increased longevity of life without depending on others for basic living needs and medical expenses. This also promotes optimism for leading a healthy lifestyle which becomes a huge incentive in itself for proper financial planning.