Life after retirement
Retired life is a period meant for a life relaxation and quietness. It is a time when you want to live peacefully after a whole life of hard work. In such a period, it would be very depressing to not have a regular source of money. Financial planning done before and after retirement can easily help you solve all such problems. Here are some of the best investment options you can follow.
There are various options which help you to secure your financial position after retirement. Some of them are EPF, VPF, and NPS. EPF stands for Employee Provident Fund. It is compulsory for all companies having more than 20 employees. Both the company and the employee pay fixed percentages of money which is used later for the pension scheme. You also get a fixed interest on this amount. Voluntary Provident Fund (VPF) allows you to increase your contribution to the EPF above the fixed sum that has to be paid. This is very beneficial if it is practicable because it will help provide you with additional help during your post-pension days. There are various other pension and insurance schemes introduced by the government as well as by private companies.You can also put your money into annuities and they will ensure that you get a fixed amount of money every month which would be almost like a salary after retirement. It is important to study all these available options and choose the one that suits your financial conditions. The more you are able to save and invest, the safer and more secure your future and old age will be.
Equities and mutual funds
These are options for people who had started their retirement planning earlier and have spare cash available after retirement. Investing in equities needs to be planned and diversified. Only then will it provide you with good capital gains in the long term. Investment in mutual funds needs to be calculated. There is the temptation of high profits but losses are equally probable in mutual funds. One huge loss may be enough to jeopardize all your retirement planning. It is very important to consider the risk factor. It is advisable not to go for mutual fund investments unless you have some experience in the field.
These can prove to be very useful if you are looking for security in investment. They will not give you as much returns as successful stock market investments can. But in your old age, when peace seems more important than a little extra money, it is better to play safe. So treasury bonds can be a good option because they will assure you of a fixed amount of return and will not require a lot of work.
You can go for fixed deposits if you are not willing to take any risk at all. Being a senior citizen, you will not only get a higher rate of interest but also other benefits when you invest in fixed deposits.
If you choose the best binary options among the numerous available ones, it will be a very good investment. They will provide you with quick income and good returns. It is a short term investment which will also serve the purpose of keeping you a little busy during your retirement period.