3 signs of secure retirement planning

3 Signs of Secure Retirement Planning

Secure your future with smart retirement planning. Here are 3 signs you’re on the right track toward financial independence

Written by : Knowledge Centre Team

2026-02-17

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6 minutes read

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An average Indian lives to be 69 years old, with women expected to live to 70 years, while men live approximately 68 years. This increase in life expectancy means that you need to save diligently for your old age. Most people retire at the age of 60, which means there is considerable time left after you stop earning a regular income; However, you still need to sustain your family and yourself. This highlights the importance of planning for retirement early in life, ideally in your 20s.

If you have judiciously been setting aside a part of your income for your retirement corpus through a pension scheme, endowment plan, or other instruments, you are at an advantage as compared to others. This means you are prepared to enjoy a comfortable retirement life and are well-equipped to deal with unexpected life events in the future. You can take care of your dependents, your health and medical needs, if any, as well as fulfill your dreams right into the sunset years of your life. 

Let's take a look at a few signs that indicate your planning for retirement is on the right track:

Key Takeaways 

  • A secure retirement plan adapts to different life stages and investment goals.

  • Calculating future expenses with inflation ensures financial readiness post-retirement.

  • Regularly reviewing and rebalancing your portfolio keeps your plan aligned with changing needs.

  • Diversification and insurance safeguard your corpus against market and health risks.

  • A ULIP can support long-term goals with flexible fund options and dual benefits.

Periodic Review of Your Portfolio

If you are aware that you need to employ different strategies at different stages of your life to create wealth for the future, you are on the right track.  Investing in ULIPs in your 20s should be the first step towards getting higher returns while taking more risk. However, as you approach your 40s, you can plan to shift your money into low-risk instruments to save it from any market fluctuations and optimise your savings. Here’s how you can do it:

  • Rebalance Your Portfolio as Your Goals Evolve: It is advisable to periodically rebalance your portfolio to maintain the right asset allocation as per your changing goals. As you move through different life stages, your risk tolerance and investment horizon shift, and your portfolio should reflect that. 
  • Diversify Across Multiple Asset Classes: Diversifying across asset classes such as gold and real estate can help manage risk more effectively in the long term. Each asset class reacts differently to market conditions, so spreading your investments reduces the impact of any single market downturn.
  • Secure Your Health with the Right Insurance Cover: Including health insurance or critical illness cover in your retirement strategy can prevent unexpected medical costs from derailing your financial plan. It ensures that you can focus on recovery without having to dip into your retirement corpus.

Consider purchasing a retirement plan, such as a ULIP, which comes with the flexibility of investing as per your risk appetite with a plethora of funds to choose from. For instance, consider ULIPs from Canara HSBC Life Insurance, which allow you to benefit from market movements by adjusting your investment strategy according to market conditions, thereby protecting and growing your investments.

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You Know How Much You Need to Save

Before you invest in a pension scheme or a retirement plan, it is important to understand the funds that you would require once you do not have a regular monthly income. Here is how to approach it.

  • Calculate Monthly Expenses to Set a Realistic Target: The first step is to calculate your monthly expenses in retirement. This is where you need to factor in the rise in inflation that could impact your lifestyle choices and purchasing power. Consider fixed and variable costs, such as rent, groceries, transport, utility bills, insurance premiums, and leisure expenses.
  • Factor in Inflation and Healthcare Costs: Ignoring the effect of inflation could make your savings insufficient for your retirement and make you financially vulnerable. Inflation in India has averaged around 2.82% in recent years. Even a modest increase can significantly reduce your purchasing power over a 20-30-year retirement.
  • A Clear Corpus Goal Reflects Strong Planning: If you have intelligently computed the amount you would require to tide you through the retirement phase of your life, and are on the path to accumulating the corpus, it is a good sign. A well-defined corpus target helps you stay disciplined and make better investment decisions along the way.

    If you have clearly identified your retirement needs early on and started working towards them with a defined goal in mind, you are in a better position than most.

You Have Created a Sizable Corpus

In case you have been regularly investing in a pension scheme, it clearly indicates that you are close to achieving your financial goal of retirement. A corpus ensures the following:

  • Your Lifestyle Goals are Now Within Reach: Whether you want to travel the world or realise any other long-lost passion, which you did not have time for when you were working, you now have the funds to pursue. You no longer need to postpone your dreams and wishes that you have been postponing for a long time. You can easily finance your ambitions or those of your spouse.
  • You’re Financially Prepared for Health Emergencies: With a well-planned corpus, you can lead an active and fulfilling lifestyle without financial constraints. From taking care of you and your spouse to having a financial backup for unexpected medical conditions related to old age, you have it all covered.
  • You Can Retire Without Financial Dependence on Others: One of the clearest signs of successful retirement planning is the ability to live independently without relying on children or extended family for financial support. It gives you the freedom to make choices that suit your lifestyle, while preserving your financial dignity.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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