Mutual Fund Calculator: Here is how you can solve your money making problems! Get Rs 1 lakh as monthly pension by doing this. In the wake of growing medical expenses and other regular expenses, ensuring lots of money in bank account is not easy. One must invest in those options that help you get monthly pension. Means, even when you are not working, the money you earned while working should continue to work for your post-retirement needs. According to tax and investment experts, one should start at the beginning of one’s career, but even when your age is above 55, you are not too late.
Money Guru Tips
According to Hemant Rustagi, CEO at Wiseinvestor Private Limited having Rs 10 lakh in hand at the age of 57 is not a big ask. This Rs 10 lakh can help an investor to create Rs 1 lakh monthly pension. He said that for this post-retirement goal, one will have to invest in equity savings fund and short-term income fund. He said that these funds will help an investor to achieve Rs 1 lakh monthly pension post-retirement.
Which mutual funds to invest in?
Rustagi said, “Kotak Equity Savings, HDFC Short Term Income Fund and ABSL Short Term Fund are some of the major plans that an about to retire person can think of investing in.” He said that such funds are helping those investors who forgot to think of an avenue for regular income post-retirement at the early phase of one’s career.