Psst! You'll Need More Than Hard Work and Skills To Achieve Your #LifeGoals. 
Retirement

Psst! You'll Need More Than Hard Work and Skills To Achieve Your #LifeGoals. 

January 29, 2021, 6:23 PM IST

As the women in the world break new ground and achieve more than they ever have, this success has not come easy. It is the culmination of years of hard work and ceaseless planning for a better world. Here are a few examples of what future-ready thinking and building contingencies can do to affect the fabric of the world.

Indian sportswomen Sakshi Malik, Mithali Raj, Mary Kom, Karnam Malleswari, Saina Nehwal, Hima Das & P.V Sindhu

Yes, these are all very different women who share some incredible accomplishments in the world of sport. But every one of them has one thing in common. Each of them had to defy the odds to rise above hardship and achieve the pinnacle of their careers. Between them are wins of Olympic medals, great sportsmanship and the resolve to be trailblazers well after all the fanfare settled. 

Avani Chaturvedi, the first woman pilot from India to fly a fighter jet

This small-town girl, from the district of Rewa in Madhya Pradesh, was no stranger to ignoring stereotypes and dreaming big. She recently made history by being India's first woman pilot to fly a MiG-21 fighter jet in Jamnagar, Gujarat. Unlike many others around her, persistence, planning, and willingness to be daring in the face of disillusionment was needed.

American Supreme Court Justice Ruth Bader Ginsburg

Ginsburg was the first Jewish woman and the second woman to serve on the Supreme Court of the United States from 1993. She came from humble roots in Brooklyn, New York.

During the early 1960s, she worked with the Columbia Law School Project on International Procedure, learned Swedish and co-authored a book on gender equality. During her life, she achieved many firsts and spent most of her legal career advocating for change in how the law sees women. 

American politician, attorney and vice president-elect of the United States, Kamala Devi Harris

The first female vice president and first woman of colour to hold the position, Kamala Harris's meteoric rise to this place in history is all over the news. But it has come hard-won with great foresight and skill and willingness to think beyond the current state of the world and see possibility.

Every mother anywhere

The fearless Indian mother could be anyone. These are the women that forge our future generations by defying all kinds of odds. They work in the background moulding young minds and burning the midnight oil to make sure their careers soar side by side. Each of them reminds us that hard work will help us go the distance in life. But a little purposeful planning will take you further and make all the long hours and sacrifice worthwhile. 

For the rest of us who are inspired by these powerful women, where do we start? A great place to start is to make yourself independent, even post-retirement. Lucky for us the HDFC Life Pension Guaranteed Plan has a vision for the future that is as detailed as it is robust. A plan is built on thought, ambition and the conviction that making ourselves independent is the best way to have an extraordinary post-retirement life.

Why HDFC Life Pension Guaranteed Plan?

This is a single premium annuity product which promises to give you a regular guaranteed income for your lifetime. This is particularly useful if you have some money lying idle that you would like to invest. But, for an income stream to work harder, you need both the availability of options and the power to choose based on your needs.

HDFC Life Pension Guaranteed Plan provides a range of benefits and options that include the ability to take the plan on a Single or Joint Life basis.

In terms of the Single Life option, the annuity will be payable in arrears as per payment frequency chosen by you, for as long as the person is alive. On death the annuity payments will cease and no further benefits will be payable. This is a great idea if you want a higher monthly income.

In the case of a Joint life annuity, it is payable in arrears as per payment frequency chosen by you, for as long as either one of the two people is alive. Here benefits only stop when both people are no longer alive.This option is better if you want to have peace of mind that your spouse or partner will continue to receive an income every month, even after you're gone.

If you are already financially comfortable, you might want to receive your payouts on an annual, quarterly or half yearly basis. This means you have a small balloon of money to use for travel plans, family functions and even as spending money for something special. 

If you think you want to add a top up, this plan makes it easy to increase your annuity payouts through the top-up option. This extra annuity amount will be based on how much you top up and the annuity rates are at the time of top-up.

In addition to all these there are also a number of tax benefits that you can avail off as per the law prevailing on the date of payout. Get in touch with your tax consultant to find out exactly what kind of relief you will be eligible for. 

At this point, it's prudent to stop and consider these options. Ask yourself what kind of support you think you will need. What would it take for you to feel secure and confident in your senior years? What kind of savings would your ideal post-retirement life require of you?

It's easy to look at the leaps these women have made, and both wonder how they managed it and how you can make your mark. How would you like to be remembered? In your 20's and 30's living carefree and from paycheck to paycheck might be okay but once you're past that, acting fast to prepare for the next stage of your life is the smartest thing you can do for yourself and your family. Your independence will lighten the load of responsibility on your children and loved ones and afford you the kind of unencumbered joy you can only get from being secure. 

Head to HDFC Life right now and check out more details on how you can look forward to your most exciting, future life.

This is Partnered Post.