Retirement planning and options at the age of 26?
I'm 26, single, earning about 3 LAC PA Man in Delhi, India, I want to start planning and investing / saving for retirement early. Can anyone guide me with retirement plans better than I can consider various other options and that too should be included for a body safe and healthy retirement. Consider me not to make any investment now and Give your answers for entry into employment.
You are someone in the early years of your career. I am pleased that you ask these questions now. There's nothing like starting early, investing in your life and use the power of compounding to your advantage. To understand the power of compounding, in this excellent article in http://www.valueresearchonline.com/story/h2_storyView.asp?str=4007 Next, you can invest in a combination of the following strategies, depending on your risk profile to invest, as indicated below. Invest only money you do not need. Get into the habit of saving 30-35% of your salary regularly. Create an emergency fund, roughly equal to 4-6 months of monthly expenses regular. Once that is covered, you can have funds that you will not need to say for the next 3-5 years for current expenses and emergencies. Use these funds to invest wisely. You need to stay invested for the long term, since you want capital growth. Conservative risk profile (you seem be of this type, someone who wants his principle of being secure and is looking for a decent growth over the long term) 1. PPF (Public Provident Fund) – account can be opened with any State Bank of India branch. This gives you a compound return of 8% per year, is currently tax free, and is the safest instrument available. Invest 50% of funds in this sparable 2. A fund like HDFC Prudence balance Fund – The mutual fund invests in equity (65%) and debt (35%) of the instruments. This is one of the safest funds with extensive experience in more than 14 years, and was funded to provide a return of about 20-25% per year. This fund has one important virtue: it manages to lose more of the class in average in periods of decline. Add to that his tendency to Top Charts & you get a safe and secure funds in HDFC Prudence. Invest 30% of the funds of caution HDPC. HDFC Prudence check fund analysis at http://www.valueresearchonline.com/funds/fundanalysis.asp?schemecode=600 3. Equity Diversified MF-like SBI Magnum Contra, Reliance Growth. These funds are to have a locker in the long term, very good in providing good returns with low to medium risk. They been among the top fund ratings for a very long time. Invest the remaining 20% in funds like these Check out more on the funds rated http://www.valueresearchonline.com/toprated.asp profile moderate risk (someone who can take a little more risk with some of his money) PPF -40% -30% HDFC Prudence, SBI Contra or Reliance Growth Fund -30% Risk Profile aggressive (someone who can take more risks with some of his money) PPF-20%, HDFC Prudence -30%, SBI Contra or Reliance Growth – 50%
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