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Sanjeev Govila |458 Answers |Ask -Follow

Financial Planner - Answered on Feb 17, 2023

Colonel Sanjeev Govila (retd) is the founder of Hum Fauji Initiatives, a financial planning company dedicated to the armed forces personnel and their families.
He has over 12 years of experience in financial planning and is a SEBI certified registered investment advisor; he is also accredited with AMFI and IRDA.... more

Question by Suraj on Feb 16, 2023Hindi

Money

I have 6 lack where is invest this amount for getting benefits after my retirement my retirement period only 12 years balance.

Ans: The best way to prepare for your retirement which is long time away, 12 years in your case, is to go in for Equity based products.

I do not advise you to go in for direct stocks with this money if you have no idea of the stocks market. Rather you should go in for a good portfolio of Equity Mutual Funds and continue with it. Apart from this bulk money, also put in SIPs and occasional additional money in the portfolio to make it bigger for a comfortable retirement.

When you retire and need money from this corpus, SWP (Systematic Withdrawal Plan) is the best and most tax-efficient way through your mutual funds portfolio to do it. It will be better if you get in touch with a good financial planner to execute it.

Also read this article by me to learn more on how to plan a retirement corpus:
https://www.moneycontrol.com/news/business/personal-finance/bucket-strategies-to-plan-income-from-retirement-corpus-9541101.html

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

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