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Guaranteed* Income throughout life




* T&C apply | BJAZ-WB-EC-05007/23


*Conditions Apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

Bajaj Allianz Life Guaranteed Pension Goal -A Non-Linked, Non- Participating, Deferred & Immediate Annuity plan (UIN: 116N167V10)

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


*Conditions Apply – The guaranteed benefits are dependent on the purchase price & annuity option chosen. For more details please refer to sales brochure.

Bajaj Allianz Life Guaranteed Pension Goal -A Non-Linked, Non- Participating, Deferred & Immediate Annuity plan (UIN: 116N167V10)

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

5 Financial Decisions You May Regret If You Didn't Start Planning For Retirement Early

In an ideal situation, people plan for their post-retirement period, and benefit as they have their finances in order. However, there is a tendency for the younger generation not to consider retirement planning, or to put it off. However, it is essential to think of senior years and a time when you will not be employed. The importance of having a retirement plan in place couldn’t be stressed more for the simple reason that you need financial security when you retire.

If you are a salaried employee, you probably think that your retirement benefits from your employer will tackle all your retirement expenses. The amounts you receive as company retirement benefits may not be enough to handle expenses during retirement. During your retirement, you must have a sufficient corpus to cover your current lifestyle expenses, taking a steady inflation rate into account. You also have to think of any emergencies that may require funding post retirement. Finally, you may want to fulfil certain wishes that you were unable to during your working life. All this takes financial decision-making and planning while you are young. If you do not plan for retirement, or take any decisions that are hasty, you may regret them later.


5 Financial Decisions You May Regret after Retirement if you haven’t started the financial planning early in your life


A retirement plan takes time to formulate, so you have to make that time during your youth. This can be done by calculating your yearly income and deciding what amount of money you will need to live comfortably after you retire. Financial planning while you are earning also includes making particular investments to make your wealth grow over time. Nonetheless, you may not have thought of retirement, and here are some financial decisions you may regret when it is too late:

1. Postponing Investing Decisions –

Saving for retirement may be a good plan. However, cash lying in the bank, without it growing into more cash, is not a feasible way to accumulate a substantial retirement fund. Your money has to be saved and invested in a timely manner. Many people postpone saving and investing till they have an income they think is enough to meet their “requirements”. The sooner you invest, the more time you have for wealth to grow.

2. Opting for Early Retirement –

Few people choose to retire early then the age prescribed in their respective organisation for retirement. There are certain employers who allow you to extend your retirement date by a few years. Moreover, if you are a skilled professional, you will be able to use your experience and ability and may work on a freelance basis even after you leave active service.

3. Avoiding Health Insurance –

A retirement calculator can help you to decide how much of a corpus you will need for retirement. Nevertheless, a part of your retirement plan may be to consider buying certain insurance products while you are young. One of these, and most essential even in youth, is health insurance. You may be healthy, but life is unpredictable, and a comprehensive health plan covers you for a long duration, right into your retirement. Besides this, you get tax benefits and savings on premiums when you buy health insurance at a young age as per provisions stated in Income Tax Act, 1961. Also, it is easier to meet the criteria of eligibility for a suitable plan while you are in sound health when young.

4. Ignoring Term Insurance –

A suitable retirement plan involves you opting for some form of life insurance. Term insurance may be an effective way to financially protect your loved ones and you from any unforeseen circumstances, like your demise.




In case you do not plan ahead, you could find yourself faced with costs post-retirement, not to mention untold stress. This is something that no individual should have to go through. Hence, it is worth saving and investing, and considering buying insurance products, at a young age.


#Survey conducted by brand equity – Nielsen in March 2020

~Tax benefits as per prevailing Income tax laws shall apply. Please check with your tax consultant for eligibility.

**Past performance is not indicative of future performance.

The above information is for general understanding and is meant to educate the general public at large. The reader will have to verify the facts, law and content with the prevailing tax statutes and seek appropriate professional advice before acting on the basis of the above information.

The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on carefully before concluding a sale.