My close friend has retired last month and received 1.2 crore. he asked me for advise on investment because he found me reading some books and blogs on this topic, but actually i have little idea overall, so i thought of asking all of you learned persons for some idea and also started making some plan for him.
as i am a regular reader of this forum and have benefitted great myself so i asked him various questions and answers are as below ( as i understand these are few basics required to make some plan for his investing) :-
he is 53 year old, retired last month, received 1.2 crore from his employer, will get govt pension of 50000 pm, wife employed in govt job 47 yr and earning 43000 pm, only daughter 19 yr old , student of 1 st year graduation ( likely to study for at least 5 more years before start earning or get married), pension and wife pay of about 90000 pm more than sufficient for monthly expenses including daughter education, only goal is to grow wealth and hand over to daughter after she turns 25 yr and/or to fund her PG (masters in english literature) abroad (UK) if she decides to go and which will not be possible with pay+pension.
if you give me suggestion, i will formulate a plan and put it on this forum for further discussion.
specific suggestions and specific queries will be appreciated. generalised info is already cluttering the net.