are you really worried of old age?
In India the population of older people has gone very high in past few decades and i am sorry to say that most of them donot have proper funds to meet all their expenses.
In India there are no adequate provisions for the older people and hence they have live not a better life.Even if employees get lumpsum after retirement,they purchase new cars, furniture but not much provision is made for retirement or a regular income in life.Private companies,corporations businessman,and even government employees after 2005 donot have proper retirement provisions.
i would like to say that we need to save very early, as early as age of 30,but not later than 40, to get good retirement benefits,i.e Pension or annuity.
now the question arise how much should we invest and where. In my view investments can be made in any of the insurance company having Pension plan. to give you a clear picture i will give you an example- a male of 30years, if invest 10000 rs per year regularly for 30 years,, he gets nearly a pension of 2.5lacs per year ,assumed @10-15%return.similarly at 40 years a male has to invest rs.35000 per year or 3000rs. p.m. at age 50 one has to invest 1lac per yr for the same pension. EARLY YOU START LESSER YOU HAVE TO PAY.
the fund that should be selected is BALANCE FUND as it has 50%in debt and 50% in equity so the risk factor is minimized. as in long terms we cannot take high risk due to market fluctuations.
in my view i think i have cleared the picture of Retirement benefits.any one having any querry can approach at ravi.upadhyaya@yahoo.com.
In India there are no adequate provisions for the older people and hence they have live not a better life.Even if employees get lumpsum after retirement,they purchase new cars, furniture but not much provision is made for retirement or a regular income in life.Private companies,corporations businessman,and even government employees after 2005 donot have proper retirement provisions.
i would like to say that we need to save very early, as early as age of 30,but not later than 40, to get good retirement benefits,i.e Pension or annuity.
now the question arise how much should we invest and where. In my view investments can be made in any of the insurance company having Pension plan. to give you a clear picture i will give you an example- a male of 30years, if invest 10000 rs per year regularly for 30 years,, he gets nearly a pension of 2.5lacs per year ,assumed @10-15%return.similarly at 40 years a male has to invest rs.35000 per year or 3000rs. p.m. at age 50 one has to invest 1lac per yr for the same pension. EARLY YOU START LESSER YOU HAVE TO PAY.
the fund that should be selected is BALANCE FUND as it has 50%in debt and 50% in equity so the risk factor is minimized. as in long terms we cannot take high risk due to market fluctuations.
in my view i think i have cleared the picture of Retirement benefits.any one having any querry can approach at ravi.upadhyaya@yahoo.com.
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