Dear Sir,
My mother has recently got her PF amount of Approx. 7 lacs after relieving from the job. I need your advice that where we should invest this money so that it can grow faster in max. in 5-6 yrs (with tax deduction rebates) as my Mother age in 59 yrs at present, she will be 60 in January\'2017.
Kindly advise accordingly.
Regards, Deepak Joshi
Hi Deepak,
At this age, its not recommended to put money in any risk associated investments (like equities)
1. As you mother is going to turn 60 in few months, I would suggest to put 50% of the money in FD as senior citizens
get more ROI comparetively. Please understand that it can’t beat the inflation, but its more safer and can be used in emergency
purposes.
2. 20% can be used to clear any outstanding bills like home loans or any other liabilities.
3. Remainin 30% can be invested in debts.
I’m just anybody like you, so please lets wait for Sreekanth’s inputs on this.
Thanks,
Ravi A.
Dear Ravi..Thank you for sharing your views. Appreciate it!