How to Invest for a Good Retirement Fund All the studies done around the world have told that now the average age of a person has increased a lot. A normal healthy person can now live to the age of 85. In such a situation, the question arises that after retiring at the age of 58, how will he live his life without regular salary or income. Therefore, retirement planning at the right time is very important for every person. In the case of retirement planning, invest in such instruments which are safe and give regular income. Such as PPF, Monthly Income Scheme of Post Office, Bank FD, NPS etc. But it should also be kept in mind that the returns should not be eaten up by rising inflation.
right investment decision
Suppose after retirement you will live for 30 years. During this period, if the inflation rate reaches eight percent, then you should think about investing in such instruments which are giving more returns than this. It should also be kept in mind that the return of our investment should be enough to meet our basic needs. For example, if today our blood test is being done for Rs 2500, then according to the inflation rate of 11 percent (in the case of medical services), after 15 years this price will increase to Rs 11,961 and after 20 years 20 thousand rupees. Therefore, always keep in mind whether the return of investment will be able to beat inflation or not..
Always keep these three things in mind during retirement planning
- Your investment return should be enough to meet your routine needs
- May your earnings maintain lifestyle standards
- Your return should be enough to meet emergency needs
How right is it to invest in shares?
It is generally advisable to invest in instruments with safe returns for retirement funds. But it is for everyone that the interest in this is very less. For example, bank FDs are currently giving only six percent interest. Therefore, choose such instruments in which the benefit of equity investment is available. Like Equity Mutual Fund. Through SIP i.e. Systematic Investment Plan in Equity Mutual Fund, you can take advantage of higher returns by investing in stocks. However, do not invest all your investments in stocks. The best advice is to diversify your investments. That is, do not invest all in one place.
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make a will
It is necessary for every senior citizen to get his will done as soon as he is alive. In his absence, who will have the right over his property, it should be decided. Sometimes one of the husband or wife dies first. In such a situation, in the absence of a will or the nominee in the investment instruments, the surviving spouse is not able to get its benefit. So, as soon as you are alive, nominate the person to whom you want to give your money after you are gone. So that if you are not there, your life partner will not face any problem.