It could be time for retail investors to think seriously about their tax and retirement plans for the upcoming year 2023 as the end of the year gets closer. Individuals should start planning for their retirement at an early age in order to save enough money for their retirement since this financial year 2022 has been defined by record-high inflation and numerous interest rate hikes. By conducting an interview with Dr. Suresh Surana, Founder, RSM India, he said in today’s scenario, most of the individuals start their retirement planning, right from an early age, so as to accumulate sufficient funds for their retirement. Many individuals still prefer to work till the time they can fulfil their work commitments and are physically fit. On the other hand, with increasing stress/work pressure and reducing average life expectancy in India, there is also a trend wherein some individuals who have accumulated sufficient funds for their retirement, take early retirements i.e. in the age of late 40’s or in early 50’s. Nevertheless, it is also seen that many individuals fail to plan for their retirement.
