Top Investment Options for Retirement Planning

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Top Investment Options for Retirement Planning

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  • 26th Apr 2022
  • 2,657

Top Investment Options for Retirement Planning

Retirement is a stage that may feel like a long way off when you’re young. But, on the other hand, financial planning is very important if you wish to retire with dignity and luxury. Whatever your dream retirement phase looks like, whether it’s a relaxing time at home with family and friends or an adventure-filled trip across the world, you’ll need money. Choosing the best investment plan for retirement implies a constant flow of income after retirement. It means putting money away and investing it, particularly for that purpose.

You can have different goals in mind for your post-retirement life. But, at the same time, you also might want to continue living your comfortable life without worrying about money. You may outline the road to reaching your life objectives without relying on money if you prepare ahead of time, which is possible only if you start investing today.

Here are the top 5 investment plans for your secured and comfortable retirement planning.

  • National Pension Scheme

The National Pension Scheme is a government programme that aims to provide employees with social security that leads to an after-retirement investment plan. This plan is open to employees in the private, government, and public sectors. NPS can also be invested in by people who work in the unorganised sector. Under this plan, employees can deposit the amount in a pension account at regular intervals.

They can draw out a portion of the corpus when they retire, while the remainder is paid out as a monthly income. In addition, contributions to the NPS are tax-deductible under Section 80C of the Income Tax Act of 1961.

  • Unit-Linked Insurance Plan

ULIPs allow investors to pick from various sources, including debt funds, balanced funds, and equity investments. You can pick one of these alternatives based on your risk tolerance. For example, you may invest in equities if you are willing to accept a large risk, or you can enrol in balanced funds if you want a diversified portfolio. If you don’t want to take any risks, you can invest in debt funds. A fundamental benefit of ULIPs is choosing from a variety of funds based on market circumstances. As an outcome, you may get a better return on your money.

  • Bank Deposits

Savings and surplus cash is parked in bank deposits, which is a conventional method. You can put your money into regular deposits (RDs). These provisions allow you to invest a certain amount regularly and provide significantly better returns than a traditional savings account. You can invest in fixed deposits if you have a lump sum amount and want to put it aside as an after retirement investment plan. FDs offer a highly attractive rate of return, and you might amass a substantial sum by the time you retire.

  • Public Provident Fund

The Public Provident Fund (PPF) is a government-sponsored savings programme that falls under Section 80C of the Income Tax Act of 1961. Investing in a PPF might save you up considerably each year in taxes. In addition, you may invest up to ₹1,50,000 per year in these accounts, which have a 15-year lock-in period. Investing in a PPF is a great strategy to save for retirement since it has a high rate of return.

  • Stocks

Stocks are liquid financial instruments that are quickly liquidated. They reflect your stake in a corporation or a publicly-traded organisation on a stock exchange. It is, nevertheless, a highly volatile and high-risk investment because it is a financial asset directly tied to the market. Stock-related investments might potentially result in a loss of capital. They may, however, make huge riches if they grasp the money market and know the correct firms to invest in from a long-term and futuristic perspective.

Some of the assets listed above are related to financial markets, while others are fixed returns. Fixed income and market-linked assets occupy a space in the wealth generation process. The investments related to the market have a high potential for high profits, but they also have a high potential for high risk. On the other hand, fixed-income investments assist in the preservation of gathered funds to reach the desired outcome. Therefore, it’s critical to use the best of both environments for long-term goals.

Every earning individual should seriously consider where to invest money after retirement so that they may live a financially self-sufficient retirement. When various options are accessible, it is only prudent to take advantage of them and maintain a balance among assets while considering risk, taxation, and time horizon.

- A Consumer Education Initiative series by Kotak Life

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