I am 30 now, i can invest around 10k per month. I want to lead a peacful life after retirement and i need to give support my child's future. Please suggest the best way to go ahead.
Thanks for your help in advance - seenu
- Get a life insurance policy to secure your child/family in case of eventuality - for this go for a pure term policy for a long period.
- Second you think of various avenvues where you can invest your savings ie 10K per month - see the pros and cons and current market conditions of each.....see 4-5 avenues dont stick to one.
- Thirdly from the avenes chosen see how much you can alocate to each given your total savings till date - if you dont have sizable sum then allocate gradually over time. One investmnet which you cannot ignore is Gold - Apart from all other investments you make invest in Gold whenever prices drop or whever you have savings which you dont need for short term needs. Even buying 4-5 grams a month can help you accumulate a good sums. But also keep a watch on prices regulary so that you can sell during a good period or buy during crashes.