Introduction

  • At The Legal Bank, we believe retirement planning requires a 360-degree approach which begins with understanding clients – their needs, risk appetite & various life-stage goals – to draw up their asset allocation plan and monitoring it on a continuing basis. We will be the customer’s retirement friend – advising and developing tailor-made solutions across various asset classes to help plan for their retirement. We are different from a Wealth Advisor/Investment Planner/ Insurance Agent. While these have a targeted audience with a specific objective either to cover their life risks or ensure a better return on investments, the scope of The Legal Bankis focused on advising solutions aimed at retirement security. This includes the entire gamut of services in terms of Advisory, Insurance, Asset Allocation, Investments & Retirement Planning.

  • We offer a “lifetime” solutions and advice to our clients, to look at the entire span of their lives. Our team will guide you in accumulating a retirement corpus for fulfilling your goals and achieving a financially independent life after retirement. This includes facilitating the most economic insurance covers and also guidance to optimize tax benefits. We also provide an actuarial estimate of post-retirement expenses and a tax-efficient alternative to the annuities offered by Insurance companies, on the Mutual Fund platform.

  • Clients need an expert who puts their interests above everything else and is equipped to provide them with customized solutions. The Legal Bankis an expert, which can deliver a holistic retirement plan using various tools, products, knowledge and other infrastructure to enable clients achieve their financial goals.

Why Retirement Planning

  • It is estimated that in 2050 the number of dependent adults in India will reach the number of dependent children for the first time, making retirement planning necessary.

  • To achieve your various life-stage goals and to maintain your desired lifestyle during your retirement years, you need to make prudent investments during your working years, putting your hard-earned money to work for you in your golden years. Retirement planning has been offered as a holistic solution in India aimed at enabling people to achieve their financial dreams both pre and post-retirement.

  • There are many reasons to why planning for retirement is important like any other goals:

  • 1. Increase in life expectancy:

  • Better healthcare and medical help is a prime reason why our generation will live longer. But, with advanced medical facilities, one needs to chalk out a proper plan to sustain the health expenses in the long run.

  • 2. Pension Funds:

  • The employer or government funded pension schemes are less likely to sustain the income needs post-retirement.

  • 3. Change of social structures:

  • Many retirees don’t prefer depending on their relatives or children for meeting post-retirement expenses. Maintaining independent lifestyle is sustainable only when backed with a financial cushion.

  • 4. The desire to remain contributor:

  • The want to contribute to the family by providing and supporting the kids or grandkids at milestones of their life remains even after retirement is inevitable.

  • 5. Rest and Relaxation:

  • After fulfilling all your responsibilities, you may want to build a retirement corpus to go on holidays, to pursue a hobby etc.

  • 6. Lack of social security system

Types of Investment Products

  • Life is full of tough choices. One of the toughest is how and where you should invest your hard-earned money, to have a comfortable retirement. To make the best decision, our team has a variety of investment products for our clients to choose from, some of these include:

  • 1. Equities:

  • When you purchase stocks in a company, you become a part owner of the business.

  • 2. Mutual Funds:

  • When you buy a mutual fund, you’re pooling your money with other investors to pay a fund manager who’ll select and manage a group of securities for you – typically a mix of stocks, bonds and other smaller investment vehicles.

  • 3. Exchange Traded Funds (ETF):

  • Like Mutual Funds, ETFs are a collection of securities like stocks and bonds. A key difference is that they trade like stocks on an exchange.

  • 4. Bonds:

  • When you buy a bond, you’re essentially lending your money to an organization.

  • 5. Senior Citizens Saving Scheme (SCSS):

  • This is the safest investment option for senior citizens. You can gain an interest of 9.2% p.a with a maturity period of 5 years.

  • 6. Reverse Mortgage:

  • A financial agreement in which a homeowner relinquishes equity in their home in exchange for regular payments.

  • 7. Liquid Funds & Fixed Deposits:

  • As senior citizens, you might need to put some amount aside as an emergency, alongside making sure that the amount earns decent returns.

  • 8. New Pension Scheme (NPS):

  • It is a voluntary, defined contribution retirement savings scheme

  • You can become our partner for excellent results in your firm for research. Thelegalank is working in Jaipur, Dehli, Mumbai, Bangaluru, India, France, Asia Pacific and all over the world.

Methodology

  • In order to plan for our client’s retirement, we go through a five-step process, which are:

  • 1. Vision:

  • We start by getting to know each other. We want to understand your unique circumstances, personal objectives, and what you are concerned about most for retirement.

  • 2. Assessment:

  • We seek to understand where you stand financially in terms of retirement savings and investment and whether your current portfolio matches your future retirement needs and goals.

  • 3. Strategy:

  • Create a strategy that will help you work towards your retirement vision. This customized retirement plan typically includes an Income plan, Investment plan, Tax Planning and even Estate Planning.

  • 4. Action:

  • At this stage, we implement our strategy and carry out all the required paperwork and other requirements of the process.

  • 5. Ongoing Relationship:

  • We constantly monitor and adjust your strategy, and even assist you post retirement.

  • To deliver customized solutions to clients consistently and methodically we provide an integrated retirement planning platform for client servicing and planning. Our key features include:

  • 1. Web-based application to capture, analyze and deliver end-to-end solutions.

  • 2. Secure login with any time, anywhere access.

  • 3. Client records for future evaluation and re-balancing.

  • 4. Personalized reports and solutions backed by credible research.

  • You can become our partner for excellent results in your personal retirement planning. Thelegalank is working in Jaipur, Dehli, Mumbai, Bangaluru, India, France, Asia Pacific and all over the world.

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