As a senior citizen, I am currently getting a compounded return of 7.5% on Fixed Deposits (FDs). Is there a better option for a senior citizen without compromising on the safety of capital?
– Name withheld on request
You can consider a combination of Senior Citizen Scheme (SCSS), Pradhan Mantri Vaya Vandana Yojana (PMVVYY), and hold Maturity Target-Date Index Debt Fund to get a good result. Given that inflation has risen sharply, you may also need to consider adding some index and/or flexi-cap funds to the portfolio to help the portfolio beat inflation, even if it does add some incremental volatility to the portfolio. can add.
I am 40 years old, I have a house and a car. I don’t have any debt. I do not have any health or life insurance policy but have medical insurance cover from my employer. i want to save 1 crore for my child’s education and marriage which is almost 15 years from now. I too want 4 crores on my retirement. i have savings 10 lakhs can I invest in FD 2.4 lakhs per month in Mutual Funds (MFs) and keep for a longer period. I can take moderate risks. Please suggest a good investment plan.
—Name withheld on request
Approximate for your child’s education and marriage 40,000 should enable you to achieve your goal 1 crore in 15 years, and for retirement a 10 lakh investment and per month investment of approx. 1 lakh per month for 20 years, a 4 crore value can be obtained. Keeping in mind that it may be possible to achieve two of your goals with the savings of 1.4 lakh per month, your saving potential 2,40,000 per month will help in potential situations where your savings rate falls, or allows you financial freedom earlier. It is important to consider purchasing an independent health cover and term life coverage to ensure that the risks of achieving your financial goals are well covered. Considering that you have long-term goals, you can consider a combination of active and passive funds with a good track record, such as Parag Parikh Flexi Cap Direct Growth, UTI Nifty Index Direct Growth), and ICICI Prudential Balanced Advantage Fund Balanced profit funds like Growth. Which will automatically transfer between equities and bonds. While there are some restrictions on international mutual fund investments at present, the addition of an international index fund would also be important after the completion of SEBI’s ban on new investments.
Vishal Dhawan is the founder and CEO of Plan Ahead Wealth Advisors.