Investment plan for retirement: If you too are planning for retirement but don’t have the option of a regular pension, then in this way you can invest your earned money and arrange funds for expenses.
Retirement Investment Plan: If you are about to retire soon, but do not have any pension plan, you should plan your deposits in such a way that a lump sum amount is arranged every month. So that you can keep up with your expenses. Experts say that it is good to plan monthly withdrawals for post-retirement expenses.
This ensures your independence from the system and also prevents your savings from running out quickly. Many retirees use their retirement corpus to build a portfolio of debt, equity, and hybrid schemes of mutual funds besides bank deposits, Senior Citizen Savings Scheme (SCSS), and Pradhan Mantri Vaya Vandana Yojana (PMVVY).
Take care of inflation
If you are retiring in 2-4 years, then the most important consideration will be the rate of inflation. Considering the current inflation of more than 6 percent, if you need Rs 80,000 every month in 2030, this amount will reach Rs 1.27 lakh.
Actually, the plan behind investing in different asset classes is to withdraw money from them at different stages. If you are planning to go into debt investment only, then you will need more amount for good returns, which is not advisable.
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Invest here too
In such a situation, you should invest only a part of your portfolio in equities, so that the risk is limited. You can deposit money in FD, Debt Fund, and Senior Citizen Savings Scheme for the post-retirement phase.
Invest in multiple places
Senior citizens can also invest in the Savings Scheme, the Pradhan Mantri Vaya Vandana Yojana, the Debt Fund, and the Hybrid Fund. It can also be deposited in equity funds for better returns. There is also another option to invest in balanced funds.
By keeping the investment strategy in this way, you will get an average of the returns of each option. Here, if the risk in any option is high, then it will continue to be compensated by the other balance fund and there will be no loss of money for your expenses. Do not forget to consult your expert before making any investment.
