Deva
 |
pension plans , kids plans are the sugar coated ones to target our sentiments and fear of future, nitin.
dont you here about ULIPs.(Unit Linked Insurance policy)
Go for it.
because it give more return since it linked with market.
It give more return than endowment pension plans, ( jeevan nidhi)
Rs 2000 per month, for 20 years in ulip can give you between 42 lakh - 1 crore after 20 years according to the fund you choose in ULIP. that money u can invest in any FD and enjoy the monthly interest as pension
beware! dont buy any ULIP. Analise it.most having heavy hidden charges ( especially allocation charges), which eaten up your capital indirectly.
there are ULIPs with lesser charges and high returns. mail me. I will send files regarding ULIPS and how to select ULIPS.
my mail id is
devaraj0910@yahoo.com |
Varun Ahuja
 |
try out the HDFC pension/HDFC tax saver schemes. You are young, can invest in equities, invest throuh SIP (systematic investment program, where you dont have to invest all money at one time, but invest a part every mth, say 2000 every mth)
This way, you dont have to time the mkt ... in case its up, like now, you invest at high, but whenit falls, you also invest 2000 at lower levels... and hence, it averages out. Within 10yrs etc, mkts are certain to go above these levels, and hence, the SIP keeps making sense.
Other than that, if you want life insurance and pension both, try out LIC, like LIC jeevan suraksha... it charges pretty low premiums, which wud be deducted from ur investments and pay back the returns at retirement.
Suppose you invest 24000 per annum, it deducts say 8000, from it as premium for providing life insurance ... the rest 16000 is invested in a fund ,which keeps on multiplying till your retirement.
The best part... u pay premium only for say, 15-20yrs and thereon, you dont pay premium, but will remain insured for the net corpus value times 10 and will get the value accumulated at 58. Hence, be insured for 35yrs (23 to 58) while paying premium for only 20yrs. (till 43yrs of age)
If you are very risk-averse abt investments, then Public provident fund, PPF, can be a good option, where u can invest a max of 70000 per annum and get a fixed return of 8% per annum, compounded semi-annually. It is tax deductible, like the others above.
The advantage here is, your cash gets locked for 15yrs. thereafter, you can withdraw the money accumulated, or keep it invested and add more, till whatever age u want. Also, its secured by Govt of India, so pretty risk-free.
Am happy you have started investing for pension from so early age, ppl usually start after say 30yrs of age whch makes them invest more and accumulate still less than what u can by investing less. Thats the power of compunding. |
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