Best Place To Invest Money After Retirement

Best Place To Invest Money After Retirement – Our team of experts will answer your questions about personal finance aspects. If you have any questions, please contact us directly.

I am 45 years old and earn 1.5 lacs after tax. I have a portfolio of Rs 1 million in mutual funds and fixed deposits and own a house with no debt. I have a company health plan that I can continue after retirement. y My current monthly expenses are Rs.50,000 and I want to retire at the age of 60 years. How can we generate a regular income of around `1 million per pension? Naveen Kukreja, co-founder & ap; CEO, Paisabazaar: Your portfolio of Rs 1 billion is in a comfortable position to earn Rs 1 crore after retirement. You should divide your portfolio between equity mutual funds and fixed income instruments in the ratio of 4:1. Assuming an annual return of 10%, your portfolio should grow to around Rs 4.17 crore by the time you reach 60. Diversify your equity portfolio across flexible cap, large cap and aggressive hybrid fund categories through SIP over the next 12-18 years. lamp. You can consider direct plans of PGI India Flexi Cap Fund and Parag Parikh Flexi Cap Fund for the flexi-cap category; ICICI Prudential Sundefined and Kotak Equity Hybrid Fund and ICICI Prudential Equity and Debt Fund for the aggressive hybrid category. For fixed inco instruments, you can invest Rs 1.5 lakh per year in PPF from additional savings. Also invest additional monthly surplus in 4:1 ratio in equity mutual funds and fixed investment instruments as mentioned above for larger retirement corpus. When you retire, keep at least 50% of your portfolio in high-yield fixed deposits with monthly payment options. A tax return of 6% should be enough to build up an income after retirement to maintain an additional buffer during inflation and downturn cycles. You should also ensure that you have adequate life and health insurance for you. Buy a terry insurance policy with a coverage of 2.5-3 million rubles. Even if you have a corporate health insurance, make sure the cover size is at least Rs 1 lakh, with a basic health plan of Rs 5 lakh and a super additional cover of `95 lakh. You can buy super top-up plans from Niva Bupa or Aditya Birla to enjoy good coverage at low cost.

Best Place To Invest Money After Retirement

Budget Highlights Budget 2024: Budget Details I am 40 years old and earn a monthly salary of Rs 1.25 lakh. I have around 20 lakhs in PPF and plan to use part of this corpus for wedding this year. I have about 4 million rubles in standard cash funds. I want to take a floating health plan. I also have insurance for 75 GEL. I just quit my job as a pensioner and plan to withdraw Rs 13 lakhs. I have a hoe loan obligation of 16 million GEL. What should your retirement strategy be? Kurian Jose, Executive Director, Tata Pension Manager: We agree with your decision to take a cheaper health plan and recommend that you increase the cover to Rs 1 crore. You should avoid withdrawal from PPF as it is a tax efficient tool. For a prudent pension corpus, you should transfer your pension funds to the National Pension System (NPS) instead of withdrawing them to avoid tax. You can also start saving 10% of your basic salary in NPS through your company’s HR, which can help you claim tax deductions of up to Rs 7.5 lakh per year. For other purposes such as raising children and buying a home, limit your expenses to 70% of your salary, and the EI stipend loan is 40-50% of that income. Put the rest in a regular fund.

Retirement Budget Calculator

I am 32 years old and single. I have Rs 3,000 SIP in equity hybrid mutual fund and Rs 4,000 SIP in equity builder value fund. y portfolio costs 10 GEL. I also have shares worth Rs 5 lakh besides investing in NPS and PPF. How much should I invest to receive 1 million GEL per month as pension? Vidya Bala, Co-Founder, Prieinvestor.in: We claim that you are looking for an income of 1 lakh after every 60. Instead of coming up with an arbitrary number, use an online calculator to see whether the amount is reasonable. For example, if your monthly expenses are 50,000 rubles and the existing corpus is 15 million rubles (based on the amount you specify), you can be sure of a high average inflation, for example 6%. We assume that current investors can earn an average of 10% over the long term and, after retirement, a safer fixed income investor of 6.5%. With a life expectancy of 80 years, the fourth claim after inflation would be Rs 2.55 lakh at retirement at the age of 60. So, you need 5.8 million retirees. If you save 20,000 rubles a month, you should be able to reach your goal.

(Disclaimer: The views expressed in this column are those of the author. The facts and opinions expressed here do not reflect the views of www.econoicties.co.) Some people in India do not have a financial plan for their retirement years. . However, in these critical times, when healthcare costs are on the rise and financial support for children is not being relied upon, it is important to ensure that your retirement corpus provides maximum benefits.

Your regular income stops in retirement, and without adequate investments and savings, it can be difficult to maintain your current lifestyle after retirement.

If you put money in a bank savings account, the interest rate is lower than the inflation rate, which means that it will not meet your needs in the future.

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Without retirement planning, you may be dependent on others for financial assistance and may be severely limited in an emergency.

The retirement investment option you choose should not only increase your savings, but also provide you with regular income throughout your golden years. Consider the following factors while choosing an investment plan.

These points will allow you to estimate the retirement corpus you need, which will help you determine the right retirement investment plan.

MF is a good option to build retirement corpus. They can give 12% to 15% annual returns over a period of time.

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However, interest rates are not fixed. You can choose different types of schemes like equity, debt and balanced funds. Initially, you can invest in equity funds, and when you retire, you can switch to debt funds.

You can regularly invest small amounts through Systematic Investment Plans (SIPs) in the best mutual funds for retirement and build a large corpus in the long term.

PPF is a government-backed scheme and your investment is eligible for tax benefits under Section 80C of the Income Tax Act, 1961.

Amount up to INR 1.50 lakh per annum is eligible for tax deduction. It has a lock-in period of 15 years and the interest rate is set by the government.

How To Save For Retirement

FDs have been a popular investment option for decades. These deposits offer guaranteed returns over the investment period.

Traditionally, only banks offer FDs; However, some non-banking financial companies (NBFCs) also offer corporate FDs. Generally, the interest offered by NBFCs on FDs is higher than bank deposits.

You can opt for Cumulative Deposit which helps in building a large corpus as the interest is reinvested along with the principal. Most deposit issuers offer higher interest rates to senior citizens. Alternatively, if you want to get regular income, you can opt for non-cumulative FD.

This scheme is aimed at senior citizens who want income after retirement. You can invest up to INR 15 lakhs in the Senior Citizen Savings Scheme (SCSS) and earn a predetermined interest rate on that amount.

Planning For An Interest Only Retirement Fund

The scheme matures in five years, but has a provision to extend the duration of the investment up to three years from the maturity date. Interest is paid at monthly intervals.

You can invest from INR 1500 to INR 4.50 Lakhs in POMIS. The scheme has a term of five years but does not offer tax benefits. POMIS is not recommended if you are in a higher income tax bracket as compensation is taxable.

It is a guaranteed pension scheme that offers monthly payments for ten years. PMVVY is extended till 31st

You can invest as little as INR 1.50 to get a monthly pension of INR 1000. There is no tax benefit on investment in this scheme. After three years, you can get a loan of up to 75% of the deposited amount.

Retirement Planning: How Much Do You Need To Save For A Happy Retirement?

In general, the demand for real estate continues to increase due to the increasing population in the country. Usually, when you invest in real estate, it continues to increase in value over the years.

However, before investing, choose your location carefully to ensure maximum price growth. You can earn regular rental income from your property investment, which will secure your stay

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