Life is beautiful and one should enjoy it to the fullest. Life offers you so much that you don’t even have to ask for anything if one stays patient. You have everything going for you if you have your basic needs taken care of. But in order to sustain a life of joy and happiness, you have to have sound health.
You need good health to enjoy the wealth you have accumulated over the years. The cost of treatment and the expenses have skyrocketed over time. You need protection against escalating cost of treatment in the event of an accident or sickness that might impact you or any member of your family. All that you need is health insurance. Once you have guarded yourself against the huge financial cost of meeting such misfortunes as an accident or a disease through either health insurance or personal accident insurance, you can pull through your life with a peace of mind.
It is better to invest for good returns long before you turn fifty. Many people miss this opportunity of investing when they are young and the moment, they near the age of retirement, they want to make the most of their investment quickly. But there are no schemes that guarantee high return and low risk. While selecting your investment option, you must match your own risk profile. The younger you are, the less risk-averse you are because you have so many years ahead of you. You can invest in equity which is risky in short term but it gives you high returns in long term.
You should also have personal accident insurance for your protection. Though it is tricky to pick the right stock for investment and to plan out proper timing of entry and exit in a scheme, equity investments have been able to deliver high returns over a long period. You can also diversify your investments to the risks inherent in these schemes.
Equity mutual fund is another option for one who has so many years before one turn fifty. These funds are managed by fund managers who have the knowhow the how to manage and diversify the portfolio. You don’t have to keep track of it yourself. And if you want steady returns, you may opt for debt funds. These investments are less volatile than hence, safer than equity.
National Pension Scheme is another good idea. It is aimed at your years of retirement when you lose your source of income through salary. It is a blend of equity, term deposit, corporate bond and government security.
It is wise to plan for your days of retirement. All you have to do is have expert advice and some research in the arena of mutual funds and other investment options.
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