Retirement is the time of your life when you should stop worrying about everything else and just enjoy your life. Do the things you have always wished to do but have been unable to do the same due to work responsibilities. Some of you would like to take up gardening while others would like to travel the world and so on. But these things would only be possible if you have enough saving and if your pension amount is good such that you would not need to worry about money to sustain yourself as well as your family. If your saving is not good and your pension amount is meagre or if you do not receive pension at all, your retirement life can be worse than your work life and the reason is apparent.
Hence to avoid getting into this stressful situation and spend your retired life in peace, you should plan much ahead of your retirement if your company does not have any pension policies or if the pension amount given is very small. The very first thing you should do is save. A little saving from your salary every month can do wonders after all those years of hard work and you will be surprised at how much you have saved after your retirement, if you start saving from the very beginning of your career. Just consider this, how much do 100 multiplied by 12 months multiplied by 30 years minimum make? 36000 and if you invest this amount on some policy, you would accumulate interest on this amount too. That makes it around 40000 approximate. Just 100 each month can make this difference to your life.
The second thing you should do is opt for a pension plan like annuity. There are numerous pension plans offered by various companies, annuity is just one of them. these pensions plans are nothing but arranging for your own pensions after retirement. Take for example an annuity policy. You pay an annuity offering company a certain amount of money for a certain period of time, say till your retirement. After that time period is over the company would start paying you back with your own money along with the interest accumulated on it. It is much like saving mentioned above with the only difference that your saved money you can withdraw at any point of time in an emergency but by opting for a retirement plan you will be paid in instalments or as a lump sum amount, as per the contract, only after the stipulated time period is over. Hence getting a policy done over and above your monthly saving is a very smart move in planning for your retirement.