Dhan Ki Baat Ep 17 | How to Plan for a Comfortable Retirement

Dhan Ki Baat Ep 17 | How to Plan for a Comfortable Retirement

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Video Editor: Vivek Gupta

Who doesn't want to live a comfortable life post retirement? Your personal finance expert Gaurav Mashruwala brings to you some hacks that are aimed at helping you plan for a carefree life after retirement.

How to Invest for Retirement?

There are many ways to invest. You can invest in the share market. You can also invest in debt management i.e. PPF or FD. Otherwise, there is the NPS (National Pension Scheme) which is the government's pension scheme where you can invest a fixed amount of money to a mutual fund every month. You are spoilt for choice, but the big question that arises here is – where to invest, when to invest and how much to invest.

Does Age Dictate the Pattern of Investment?

According to Gaurav Mashruwala, if you have your retirement plan by the age of 30, not only is that a brilliant plan but also enables you to take more risks in life. At this age you can invest in the share market, and expect good returns to the risks that you take. You can always opt for the NPS scheme but don't invest much into it. Don't turn a blindeye to EPF and PPF.

In most offices, EPF gets deducted automatically from your salary. Keep investing in it steadily. If you start investing from an early age, it minimises tension later. 

What Can People Who Are Between 35 and 50 Do?

You can still invest in the share market, and in mutual funds but plan your strategy according to your goals. Home loans, your children's education, their marriage and providing for your parents, are some factors that you must keep in mind when planning out your investment strategy. Divide your money between equity and debt accordingly so that you can avoid problems in the future.

Don't invest much in equities if you are past the age of 50. You can invest equally in debts and equities. Insurance scheme plans have become expensive over time, so be careful when buying one. If you plan your retirement at an early age, then even a minor investment can boost your plans heavily.

Send your questions to dhankibaat@thequint.com

(This article was originally published on Quint Hindi)

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