Savings Must ?
Thank God I continue in NPS till age 65!
Sathyamoorthy Retd BSNL Trichy. more
Govt must look in to the Financial Grievience of Senior Citizens. more
It is important for everyone to understand to some extent about the time value of money, that is purchasing power in future. Good example is that one cannot buy the same product with same amount of money. Like, Gold, petrol, osmetis, food products and so on.
It is important to save from the beginning of the employment to know about investment to be Financially independent after retirement. Investing depending on what for and when and how much required. Other factors to be considered are the age, their financial commitments, dependants. Seek some advisors / experts advise. Know about the type of investment risk involved and what is it one looks for. The return and risk go together.
Mutual Fund is one good option and what scheme one investing depends on the return expected and risk one can take. Many schemes are their and one has to choose depending on the need. for shorter term like one/two year safety is important. Longer period over 5 years one can take some risk to get better return or wait for some more time to get the benefit of higher return.
While one can approach an financial advisor, there is need to understand the investment strategy more