Hello Sir... I am now 41 years old... Only P. F as my savings... As per my current salary... I can save about 5K per month... Where should I invest for some good saving for my retirement
Ans: You may choose to invest in NPS ie National Pension Scheme, which will allow you to claim exemption over and above the limit of ₹150,000=00 and also to earned pension after you retire. This is government created retirement corpus. You may invest ₹1000-₹1500 per month and depending on your age and retirement tenor, you may get monthly pension from ₹4000 to 5000/-
From the balance ₹4000/-, you may invest ₹2000=00 into , post office monthly investment scheme, since this will give you safety, better fixed return and compounding effect on your investments which you will invest every month. Present returns which the post office monthly schemes offer is upto 7.75%.
Rest of the ₹2000/- per month, you can save for 5 months and every 5 months, you may buy close to 5 gms of gold.
The above investment plan, will give you capital safety, capital appreciation and pension , all together as accumulated package.