retirement plans.1. Cut back expenses, invest savingsThe AMC in its note asks investors to trim expenses wherever possible.
This is especially true if you are facing a job loss or income cut. “The lockdown is a boon as it enables us to easily cut back on shopping, eating out, travel and everyday commute.
Use this timewisely to cut back on unnecessary expenses. The more you save today, the more you can invest...and therefore the better your chances are of building a healthy retirement corpus," says the note.2.
Realign your goals, add more income streamsAccept that your pre-Covid investment strategy may not serve you well post-Covid.