Retirement planning plays a vital role in an individual's life as it aids in preparing for future Financial needs.
Here are five schemes one can consider to invest for their retirement,
Public Provident Fund
It is a government saving scheme in which you can start investing with only Rs 500, and invest up to Rs 1.5 lakh. The lifespan of this investment can be 15 years.
Insurance
Life insurance has dual benefits: one is saving, and the other is security
National Pension System
This is a government- initiated pension scheme to facilitate social security for the working class, including employees from the government and private
Mutual Funds
It is one of the popular market-linked investment schemes. The returns are in the range of 12 percent to 15 percent a year for investment tenures of 3 years or more.
Bank Deposits
Bank deposits are the traditional form of saving money. It is done by making regular deposits in your saving bank account.