How to save money in order to live happy without tension even after retirement?



Please give me a general formula which can give me an idea on saving the money.
Assume that I’m living in a family consisting of 5 members.
Where i can invest and at what proportion to reduce the payment of tax?

How to save money in order to live happy without tension even after retirement?
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2 Replies to “How to save money in order to live happy without tension even after retirement?”

  1. hello sir
    monthly small (500,1000,2000,)investment in mutual founds & insurence
    invest some amount in sharemarket but go long term.


  2. You have mentioned your age and the amount to be saved.

    Okay. Keeping cash in hand or in SB account of Bank is loss. The purchasing power of the money is being reduced because of the inflation in our country. If the inflation is 8%, any investment which is not yielding less than the inflation is loss.

    There are five main investments:

    1. Bank / Post office: They offer about 8% interest. This is risk free but definitley no gain having considered the inflation.
    2. Shares & Mutual fund – Risky but based on the market you can win or loose.
    3. LIC – gain when the insurer dies before the policy expires
    4. Real estate – This is always profit making investment. Since we cannot produce an inch of land, the supplly will not be increased. This is the time to invest. Selection of the land is important.
    5. Gold – go for gold to keep the value in line with the global inflation.

    Last but not lease, dont put all your eggs in a single basket.

    If you have huge money. get a bank loan which you can repaly till your retirement. With these money buy a house and give it for rent.

    Once you retired, th bank loan due will be over. Now you can get the rent from the house or houses. That can be used for your food and medical expenses. You need not depend on others for money.

    Have a nice and peaceful life.





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