If there is a guy 21 years of age and he wants to opt for pension plan at this age ? The vesting age is 45 years . Is it advisable for hom to go for pension for such a long term
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Insurance itself is a week investment. You are being charged for the insurance and historically your rate of return is lower tan other investments.
Talk to a reputable financial adviser.
opt for term insurance for life cover. it is like car insurance where u get nothing on maturity but loss to car is covered. it is very cheap.
then invest the remaining money every month in a good diversified equity mutual fund under SIP. in sip u pay a fixed amount every month like a recurring deposit a/c in bank. at the age of 45, stop sip and start SWP to get monthly income as per your needs. u can change ur amount of deposit/withdrawal under SIP/SWP from time to time.
SIP=systematic investment plan
SWP= systematic withdrawal plan
Well . . . its a good Q considering the kind of buoyancy the market is experiencing.
Investment in India is currently hot in the stock markets. The whole world wants to invest here. What with the FDI inflows and growth patterns.
But the Q which will answer your Q is whether or not you already have invested in Insurance. If you are covered for life, its time to move into MF’s, Stocks, Bonds et al. If you wanna get the best of both worlds, invest in Insurance Funds. But the important thing to remember is that one SHOULD ALWAYS have life cover. The earlier you start the better.
And its a good idea to start a pension fund while you are still young. The earlier you start, the better for you old life. . trust me.
cheers!. . happy investing