DIFFICULTIES IN POST-RETIREMENT FINANCIAL PLANNING: A STUDY OF DELHI NCR

Abstract

A person's commitment to an organisation is influenced by a variety of factors, including working conditions, coworkers, superiors, subordinates, future opportunities, etc. in a company. People prefer to retire later when conditions are favourable because they would like to stay employed and with their company for a longer period of time. The perspective on retirement life and post-retirement financial planning has changed over time as a result of evolving knowledge and technological advancements. Retirement was previously only accepted in its most obvious form because it was seen as an obvious time-based event in people's lives. But as time has passed, people's perspectives, attitudes, and behaviours towards retirement have changed as a result of their increased understanding of the value of post-retirement financial planning. A positive outlook on retirement influences better post-retirement financial planning, and the other way around. Clarity in objectives is a key factor in achieving satisfactory results from any life decision. People now recognise the value of goal setting thanks to increased education and awareness. Setting specific goals aids people in living the expected retirement life. Goal determination also serves as a guide when juggling multiple objectives to prevent goal conflict. Assigning a priority to retirement goals is aided by the goal-setting process. In a perfect world, post-retirement financial planning would last a lifetime. Although it can start whenever a person wants, it will work best if it is part of initial financial planning. . Consequently, depending on when to start, it becomes necessary to view post-retirement financial planning as a holistic process. Because of this, it is clear that post-retirement financial planning should always begin as early as possible. In fact, the earlier one begins, the better the chances are for planning how to accomplish various life stage goals.