I am 50 yrs old and working for reputed PSU. I have completed around 23 years of service till now. Since our company is going under heavy loss for last few years, the central govt has decided to privatize our company and give us a golden handshake. Now as per my calculation I might get around 50 Lakh including PF & VPF gratuity. I don’,t have any other source of income. My monthly household expense is 25000/-P.m Kindly advice how and where to invest safely so as to get around 25000/- income per month.
Thanks & Regards
Considering Rs.3,00,000 a yearly requirement, with 7% return on investment, I don’t think it is tougher for you to generate from Rs.50 lakh. However, to make sure you protect the inflation for future expenses, you must find some ways to generate that much of income.
I suggest you the safe plans like Jeevan Akshay VI – LIC’s Single Premium Pension Plan Reintroduced or Pradhan Mantri Vaya Vandana Yojana -LIC’s 8% Guaranteed Pension Plan