If you are planning retirement then do not forget about these mistakes.

People often make big mistakes while planning retirement. Here are some things that you should not forget during retirement planning.

New Delhi: If you are around 40 years old then now it is time that you should start planning for your retirement. However, the experts say that you should start planning your retirement from the first day of your job. But be cautious if you do not save money for the evening of your life on the day of your earning then it can be very difficult because as the age of retirement comes, neither your body will be as tight as before, nor will you Will be

People often make big mistakes while planning retirement, which you should not even forget about. Here are 5 tips for work that you should not forget during retirement planning.

1. Do not anticipate inflation
If you save money in planning, but do not calculate the inflation of years to come, then you may have a big problem and your saved money will not last long.

Understanding the expenses
Most people believe that their expenses will be reduced at the time of retirement because their responsibilities will decrease, such as the work of the house like EMI and children's marriage, they have been dealt with. But this is not always the case, because these responsibilities will get furious but due to your increased age, expanses like medical and travel will have increased. So do not underestimate the expenses and save enough money.

3. Earning money
from your savings before retirement. If you withdraw money from your savings schemes, policies, mutual funds before retirement, then remember that you will not have much money to spend after retirement.

4. Not to be disciplined in retirement planning
If you do not start saving money early then you will not have the money you have in the end. So, save a lump sum every month and definitely do not make your planning flexible, work with discipline on it. 5. Save Money in Debt Instruments

5.
If you look for money in Debt Instruments ideally, then you should gradually reduce the equity component from your savings, so that your corpus is safe and your risk is reduced. You should be present in certain fixed equity funds or equities near the retirement, so that you can earn more money on your money. Remember not only increases money by saving, but rather increases investing. 

6. Taxation
If you save only money in Senior Citizen's Schemes, Fixed Deposit and Post Office (MIP), then remember that taxes are taxed. So you can take such a savings instrument like SWP (Systematic Widrall Plan) which you can get in Debt Mutual Fund and there is less tax on them.