Mam , I am married since 2000. I have a male child.My wife is a working lady doing Govt. service . Since 2017 I found her behavior towards me & my child has completely changed . She always used to tell lie .She has affair with one of her colleague . She is being completely supported by her family specifically her mother.Without my knowledge she borrowed around 10 lakhs from neighbors of my rented premise at high rate of interest. When the matter come to my knowledge I cleared 7 Lakhs taking loan from Bank . After that she took more loan & left me. Since then , I never inquired about her, never lodge FIR or apply for divorce.I tried to forget her. I have no affair or any mood for remarriage . Rather ,I took care of my child & after rigorous follow up & support , my son cleared NEET & continuing MBBS in Govt. college.My son is aware of everything.He also has no interest towards her mother. In the mean time she has cleared my bank loan & trying to come to me.For this she is pressurizing me.She has no changes.Please suggest what to do.I have no interest towards her.

Ans: It sounds like you've had to make some difficult financial decisions due to the challenges posed by the pandemic. Planning for retirement can be daunting, especially when unexpected events like reduced income or unexpected expenses arise. Here is a 10-point checklist you can follow to plan for your retirement given your current situation:

1. Assess your current financial situation: Take stock of all your assets, savings, investments, and any other sources of income. This includes your remaining PF balance, any other retirement accounts, investments, and savings.

2. Estimate your retirement expenses: Calculate your expected expenses during retirement, including housing, healthcare, daily living expenses, and any other costs you anticipate. Be realistic in your estimations.

3. Consider your sources of income: Apart from your PF, consider any other sources of income you may have during retirement, such as pension plans, rental income if you have any other properties, investments, or any other assets.

4. Review your investment strategy: Given your limited time until retirement, it's crucial to ensure that your investments are aligned with your retirement goals and risk tolerance. Consider consulting with a financial advisor who can help you optimise your investment portfolio for retirement.

5. Maximise your savings: Since you have two years until retirement, try to maximise your savings during this time. Cut down on unnecessary expenses and consider additional income streams if possible.

6. Explore retirement options: Look into various retirement options available to you, such as annuities, systematic withdrawal plans, or any retirement benefits you may be eligible for from your employer or government.

7. Consider downsizing: If your current living situation is not financially sustainable during retirement, consider downsizing to a smaller home or relocating to an area with a lower cost of living.

8. Plan for healthcare costs: Healthcare expenses tend to increase during retirement, so make sure you have a plan in place to cover these costs. This may include purchasing health insurance or setting aside funds specifically for medical expenses.

9. Create a contingency plan: Prepare for unexpected events by having a contingency plan in place. This could include building an emergency fund or having insurance coverage for major expenses.

10. Regularly review and adjust your plan: Life circumstances and financial markets can change, so it's essential to regularly review and adjust your retirement plan as needed to ensure you stay on track to meet your goals.

It's understandable to feel concerned about your financial security in retirement, but with careful planning and prudent financial management, you can work towards a comfortable and secure retirement. Consider seeking guidance from a financial advisor who can provide personalised advice based on your specific situation and goals.