Planning Retirement
Retirement planning and options at age 26?
I'm 26, single, earning about 3 Lac pa Male in Delhi India, I want to start planning and investing / saving for retirement ASAP. Can someone guide me with the best pension I and can consider various other options should also be included for a healthy body and secure retirement. Consider me no investment in time and give your answers to a starter in Job.
You are someone in the early years of your career. I'm glad you ask these questions now. There is nothing like starting early, investing in your life and use the power of compounding to your advantage. To understand the power returns compounds, consider this excellent article http://www.valueresearchonline.com/story/h2_storyView.asp?str=4007 Then you can invest in a combination of strategies following, depending on your risk profile to invest, as indicated below. Investing more than money you do not need. Make it a habit save 30-35% of your regular salary. Create an emergency fund, roughly equal to 4-6 months of regular monthly expenses. Once that is covered, you may have funds that you will not need to say for the next 3-5 years for ordinary expenses or emergencies. Using these funds to invest wisely. You need to stay invested for the long term, since you want capital growth. Conservative Risk Profile (you seem to be this type, someone who wants that principle to be safe and is looking for 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 8% return per year, is currently tax free, and is the safest instrument available. Invest 50% funds sparable in this 2. A fund balance as HDFC Prudence Fund – this mutual fund invests in equity (65%) and debt (35%) of the instruments. This is one of the safest funds with a great track record over 14 years, and has been giving back mixing approximately 20-25% per year. This fund has one important virtue: it manages to lose less than the category average in periods of decline. Couple this with his Top Charts trend and you have a Safe & secure funds in HDFC Prudence. Invest 30% of funds in HDPC Prudence. Check out HDFC Prudence fund analysis at http://www.valueresearchonline.com/funds/fundanalysis.asp?schemecode=600 3. Equity Diversified MF-like SBI Magnum Contra, Reliance Growth. These are funds with excellent long term record in delivering high returns to low or moderate risk. They were among the top fund ratings for a very long time. Invest the remaining 20% in funds like these Check out more about the top rated funds at http://www.valueresearchonline.com/toprated.asp Moderate risk profile (someone who can take a little more risk with some of his money) PPF -40% -30% HDFC Prudence, SBI Contra or trust fund Growth -30% Aggressive Risk Profile (someone who can take higher risks with some of his money) PPF-20% -30% HDFC Prudence, SBI Contra or reliance growth – 50%
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