POSTED BY September 17, 2012 2:27 pm ONE COMMENTON
I am 23 (unmarried) IT professional. I want to know about long term savings, retirement options, best investment options and tax saving methods.
We are a 3 member family and we have an after tax income of 19Lpa. The expenses will not go beyond 3Lpa. I would like to save 15Lpa to build a good retirement corpus and retire young.
1. Mom is highly educated non earning member (I can invest lot of money in her name)
2. Dad is in 10% slab. Dad would be retiring after 6 years with a 50% salary pension
3. I am in IT with 14Lpa salary in cash, I need to have some liquid cash as a protection from recession
Can you help me choose the best investment plan so that I can build a considerably good amount of retirement corpus which can last long? Here are few considerations:
Investment area: Real estate / Equity / FDs / NSC / Gold. I already have PPF
1. Least tax (We are already paying 2L of tax)
2. Best ROI
3. Inflation + Inflation after my marriage
4. Best insurance plan
5. Some money for charitable funds