When investing for retirement, remember the following :
Have an Emergency Fund – You should have at least 3 to 6 months of your expenses as an emergency fund in liquid form like a savings account etc.
Have a Health Insurance – At this age, people usually undergo health issues and this may lead to high medical expenses. So, having a health insurance plan is a must.
Be disciplined – Once you have decided your estimated retirement corpus, you need to put efforts and consistently save for it. Only then you will reach the desired goal and lead a stress-free post retirement life.
Focus on diversification – When investing for retirement, do not choose only one option. Choose to diversify your investment.
The government has launched various schemes for retirement planning like the Senior Citizen Saving Scheme, Pradhan Mantri Vaya Vandana Joyana etc. There are many other fixed income instruments like Post Office Monthly Income Scheme etc.