Am a working professional of 40 yrs age. I have only a small amount in my PPF account. Earlier I had not planned any proper savings for future due to my irregular incomes. Now I have decided to go for some planned savings in Mutual funds through SIP/one-time payment. Please suggest some mutual funds which will give high returns.
Also I want to know should I go for NPS. My main financial goal is retirement planning. Also I want a guaranteed monthly income in case of job insecurities. Please guide me.
Ans: Hi Sasmita Guru. Getting started on your retirement planning is never too late. Diversify your asset allocation by investing in NPS along with mutual funds.
If you are seeking high-risk investments, I would recommend investing in small-cap, mid-cap, and flexi-cap funds. Additionally, you can invest in categories like balanced advantage and bluechip funds for low risk.
Mutual funds never provide guaranteed income; for that you may look for annuities.