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Experts recommend reduction of PPF account lock-in period to less than 15 years
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Govt retains small savings rates for Q2
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Government retains small savings rates for Q2
thehindu.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindu.com Daily Mail and Mail on Sunday newspapers.
Senior Citizens: Need to do Sound Financial Planning
Backdrop:
For a person who is just retired say, at the age of 60, financial independence becomes crucial. This is because there is no fixed recurring future income or cashflow whereas he / she has to take care of him / her and may be spouse too, for remaining period of life say, for another 10 to 15 years considering the average life expectancy in India. Even if one has children, dependence on them on a continuing basis is not a viable option.
Absence of any social security mechanism or health care system in India makes the situation more precarious for many elderly people particularly from lower income group. Stress of financial dependence is one of the primary causes of mental anxiety among many elderly people.
The best fixed income investments in a low interest rate regime © Faizan Javed The best fixed income investments in a low interest rate regime
Some argue that interest rates (and not stock markets) are true indicators of economic growth in the country. When interest rates were 12-14 percent, way back in the early 2000s, our economy was growing at lightning fast speed and now when the rates are down to 4-5 percent our growth has also slowed down drastically.
Double-digit interest rates from fixed deposits (FDs) or other fixed interest bearing instruments that we used to earn 10 years back, now look like a pipe dream. The trajectory seems to be moving downward – at the least, we do not see high interest rate FDs coming back in the near future.