Answer to Question #147928 in Marketing for kamakshi dargan

Question

Sanjay Bhatia, (age 30 years) works with a pharmaceutical company and has not yet started to invest for his retirement. Sanjay is married to Preeti (age 28 years) and they have one son aged 2 years. Sanjay wants you to prepare a plan for him to retire latest by age 55. (You can make any assumptions to further build up your case.)

Answer 1

Retirement planning is done to have a secure retirement. The plan helps you build a financial cushion where even without employment you can be able to sustain your family. Sanjay should start making monthly contribution to the retirement benefits authority or a bank offering a retirement plan. He could also invest in a a stock market or start a business to ensure he has a source of income even after retirement