Hi Friends, My mother is getting retired from her govt service this August. She is such a hardworker who had been tiring all her life for our(me and my brother) betterment. Now we are well settled and i am very happy that my mothers legs will get rest. She has given her 35 yrs of essential service successfully. She wants me to suggest her a best plan to invest all her retirement amount. so that she doesnt need to depend on any of her kids financially. So please share your parents experiences in this regard in india and let me know the best way for her peaceful retired life.. I also want you all to pray for her goodhealth and peace.
Your query shows u r a very affectionate,most understanding daughter:thumbsup.I do understand your concern.I will do some little research & get back to you.I have heard about lic retirement plans as the agent often visits my off,others also i will check & tell. I will def pray for her well being.Its def a great feeling to look up at our mom now as she deserves the best.:cheers
Anu, You have not mentioned if your mother is entitled to a pension (though you have mentioned govt.service). investing for returns depends majorly on any outstanding loans, entitlement to pension, medical insurance and things on the same line. If she is not getting any pension, and also medical, since she will be 58/60 first ensure a good health policy as doing it at a later period will become very difficult. There are fd's with a extra percent for senior citizens is an option. you can also look at the national pension scheme that has been recently announced by the Pension Fund Regulatory and Development Authority. You can also look out certain short term mutual funds too, with the o or reduced entry load from 1st of August, mutual funds do look attractive, but go in for a already proved performer.
Yep....she will be getting pension which will be enough for their expenses. Also came to know new things from your reply.Thanks for the time shanti and ambika.
