My father is about to retire, he is government employee. He will get around 70 lakhs as retirement corpus.
Some of the critical information is:
He would receive monthly pension since he is a govt. employee
He has health insurance or alternative options for health care
He already own a house he live in and hence no rental cost or EMIs
Kids are already married and settled, hence no dependency.
How and where should we invest money? As we are from small city, Gorakhpur Uttarpradesh, suggest best possible options
If the current money is just for future estate creation, then he has to do asset allocation between debt and equity and accordingly invest.
Sir please guide us properly. Actually I have very little knowledge about investment and that is the reason i asked this question on this forum as I started following your blog for fews days and found it very useful. We need some extra money every month as pension is not very much. Basically we want money to grow as well as get safely good return.
Please send me a personal email to [email protected]. Because I have to know more details (whcih are your personal and it is not proper that you share such vital information in such public platform).
I have two questions
1. I am investing 1.5L/annum in Sukanya Account on my daughters name for last 4 years. Still it is a good thing to keep on investing? I also invest in equity mutual funds regularly through SIP.
2. Can you write some article on retirement planning.For example I shall put a use case for this. It should reasonable solve this problem.
I am now 45 years, working in IT sector. I have one daughter, 7 years old. I would like to financially retire ( I may continue to work in social sector with less or zero income) say after ‘x’ year. ‘x’ may be >= 0.
I have following financial state:
a) 2 flats – Present valuation a
b) 1 residential site – Present valuation b
c) Equity MF – Present valuation c ( I can give more details on which are the funds, etc)
d) Equity stocks – Present valuation d
e) Debt Mutual funds – Present valuation e
f) PF+PPF+Sukanya+NPS = Present valuation f
g) Bank balance = Present valuation g
I can give life and health insurance details, present monthly expense, etc data.
I need to calculate with reasonable accurarcy for my future expense, considering the following.
1) Expense till average life expentancy
2) Education/marrage expense for kids.
I know it is a complex thing to do, considering there are lot of uncertainty. But if we could approach to solve this to a certain extent is also good.