I want to know how can I save tax on sale of house property and what is rec bond

Ans: At 47, with a solid corpus of ?2.3 crore and monthly savings of ?1.25 lakh, you're on a strong financial path. If you continue saving for 5–8 years, assuming modest growth (10% annually), your corpus could grow to around ?4.5–5.5 crore—potentially sufficient for a comfortable retirement, especially if expenses are kept in check.

Buying a house isn’t strictly necessary unless emotional security or future housing stability is a priority. Renting can remain viable if you're disciplined with investments and ensure rising rents don’t strain your retirement income. You may also consider buying a smaller house closer to retirement, funded partially by your corpus, without compromising long-term returns.

Also factor in your son’s engineering expenses in the next few years, which could temporarily reduce your savings rate. Ensure you’re adequately insured (life and health) and have an emergency fund. A financial plan aligning your retirement income needs with inflation-adjusted expenses will help fine-tune your decisions.
Regards, Nitin Narkhede -Founder Prosperity Lifestyle Hub,
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