Discontinuing an SIP doesn’t leave any such immediate adverse impact on your finances. Nonetheless, it can be equally painful in the long term. When you discontinue an SIP, you potentially compromise on your retirement savings.
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Anyone who is financially free can retire from whatever hassles them early and pursue various work options that make them happy although this may not necessarily come with commensurable monetary rewards.
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By the time we have crossed the 50-year threshold and are left with limited years of earning, we are almost done repaying our existing loans. Retirement planning thus never comes into the equation and we are left with no choice but to depend on others during the most vulnerable years of our lives.
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If you wish to retire early, say at 50, your retired life would be longer than your working span. Unless you save enough while you are earning, your retired life can’t be as peaceful as you would expect it to be.
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Union cabinet’s recent decision will put NPS on a similar footing to PPF in terms of taxability.
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