Best Investment Ideas for Individuals Nearing Retirement Age

Having sleepless nights because you are nearing 50 and you do not have any significant savings until now that can be called your financial planning for retirement? Fret not as we have got you covered for your retirement.

At the age of 50, it is highly likely for you to be at your peak in terms of finances and earnings. This makes it easy for you to keep aside a handsome sum after paying all your dues and considering all other personal expenses. This extra amount of money can be parked in any investment vehicle that offers a good rate of interest. In this regard, you can consider the share market. However, without significant knowledge of the ins and outs of the share market, parking your funds there can be a risky prospect.

You can look for safer options like Fixed Deposits from banks and Non-Banking Financial Companies (NBFCs) wherein you can earn steady but assured interest. You can choose the tenure of investment accordingly while considering both your current and future financial scenarios.

After reaching the age of 60, you can transfer the same funds to an FD for senior citizens where your investment will earn a higher rate of interest.

Read about: What is a Difference Between Recurring Deposit or Fixed Deposit