Many of us realize that investments and insurance shouldn’t be mixed. You will get low life cover and poor returns, especially with traditional life insurance plans. If you are young and make such mistakes, you still have time to make up for such mistakes. However, if you are retired or close to your retirement, the hit to your finances will be much bigger. It is not just … [Read more...] about You may not need Life Insurance during Retirement
Plan to start saving for your retirement? Where should you invest? Let’s look at various products where you can invest in. Defined Benefit Plans from Employers Pension plans from Insurance Companies National Pension Scheme (NPS) Retirement Plans from Mutual Funds Disciplined investing in Mutual funds (along with PPF, EPF etc) In this post, I will compare … [Read more...] about Retirement Planning: Pension plans or Mutual Funds?
You invest in pension plans to replace your salary during your retirement. Apart from pension plans from insurance companies and New Pension Scheme, there are retirement plans from mutual funds too. Though not pension plans in the strictest sense, you can use retirement plans from mutual funds to save for your retirement. These plans differ from pension plans in many ways. For … [Read more...] about Should you invest in Retirement Plans from Mutual Funds?
Once you retire from work, you need to replace your salary with some other sources of regular income. You do that by deploying your retirement corpus into the right investment products. When it comes to investments, retirement comes with its own set of problems. You need to generate a regular income. Income should grow with inflation. Your investment should be reasonably … [Read more...] about Best ways to generate Regular Income during Retirement
A Public Provident Fund (PPF) account has been and remains one of the favorite investment tools for most people. And why not? You get tax benefits for investing in PPF account and interest earned is tax-free. There is no tax implication even at the time of withdrawal. A maturity period of 15 years instills strong investment discipline. If asked, most of us won’t be able to list … [Read more...] about How to use PPF account as a pension tool?