What to Do After Retirement in India? Best Post-Retirement Career Options

What Are the Things to Do Post-Retirement?

What Are the Top 5 Career Options for Work after Retirement in India?

FAQs about What to Do After Retirement in India

How can I beat inflation and build a post-retirement fund?

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To beat the impact of inflation and create a post-retirement corpus, you should ideally build a sound diversified and balanced investment portfolio. You can buy stocks from small, mid and large companies with vital financial records. If you cannot analyse financials independently, you can invest in mutual funds, as only expert fund managers supervise these.

Is it essential to have medical coverage after retirement?

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It is imperative to get yourself covered under a health insurance plan. Otherwise, you can spend all your life savings on tackling health emergencies. After such events, it may become difficult for you to make ends meet. An active health insurance plan will help you cover all your medical expenses, safeguarding your savings.

What can be some leisure time activities for retired individuals?

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You can engage in story books, hobbies, gardening, cooking, etc., to pass your leisure time. You can also get together with friends and loved ones to spend quality time with them.

Can I buy term insurance after retirement?

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Most insurance policies have an upper age limit, typically between 60 and 65 years. However, term insurance can be beneficial for covering final expenses, paying off debts, or leaving an inheritance. If you're in good health, you may still be able to obtain a policy, but premiums will be higher.

What type of life insurance is suitable for retirees?

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For retirees, the most suitable life insurance policies are whole life insurance or universal life insurance is suitable. It provides a death benefit and a cash value component that can be accessed during retirement. This can help cover unexpected expenses, provide financial security, and supplement retirement income.

How can I prepare for medical expenses post-retirement?

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Medical costs tend to rise with age. Hence, to prepare for medical expenses post-retirement, you must:

  • Keep a separate emergency fund that can be used for health issues.
  • Invest in a comprehensive health insurance plan that covers hospitalisation, treatments, and critical illnesses. 
  • Get government health insurance plans that are affordable and provide vast coverage.

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