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Money talk: How to retire early

Last updated on: August 13, 2013 15:00 IST

Money talk: How to retire early

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In an online chat with Get Ahead readers on August 12, Sanjay Tripathy of HDFC Life answered their queries about pension plans and retirement.

Here's the unedited chat transcript:

vaibhav likhar: Dear sir, please advice policy which give me retirement benefit considering today i earn 70k after age of 60

Sanjay Tripathy: If you are looking at market linked returns then you may look at unit linked products else for steady returns you may consider traditional pension plans

Abhishek-Mande: I burnt my fingers in MFs should i be investing in them anymore?

Sanjay Tripathy: If you look for safer and steady returns then you may consider traditional products of insurance co. for example personal pension plus from HDFC Life.

r v: Dear Tripathy ji, I am 43 and would love to retire at 55. Kindly advice.

Sanjay Tripathy: You can go for a systematic investment. Insurance products can offer the right horizon and with capital guarantee feature can be a good option

gohil paresh: Dear Sir, I'm 33 rightnow i want to retire @ 43, pls advise

Sanjay Tripathy: If you are looking at 10 years of investment horizon then you need to invest at least Rs 5 Lakhs each year to receive a desired corpus which can give you a steady and guaranteed return for next 30 years

Gadgets-Gaming: Dear Tripathy Sir, I am 25 now. How do retire by ay 50? Give me some dos and don'ts of retirement planning plz.

Sanjay Tripathy: You have the right investment horizon. All you need to do is to invest regularly and in the right asset class. If you are looking at market linked returns then you can go for unit linked plans. For safer returns you may consider long term conventional insurance plans.

rajat misra: why does one have to work or save. Can't we just enjoy life and do away with the monetary system.

Sanjay Tripathy: Good thought.. Pl read Rich Dad Poor Dad - a book by Robert Kiyosaki

r v: Dear Tripathy ji, I am 43 and would love to retire at 55. Kindly advice.

Sanjay Tripathy: Since you have 12 years investment you have to adequately select your investment corpus and investment asset. A balanced portfolio of equities and debt can be ideal option

shashidhar bs: which is best pension plan my age is 33 and suggest how much to invest

Sanjay Tripathy: Since you have 12 years investment you have to adequately select your investment corpus and investment asset. A balanced portfolio of equities and debt can be ideal option.

shashidhar bs: which is best pension plan my age is 33 and suggest how much to invest

Sanjay Tripathy: If your investment horizon is till age 60 you can look at NPS or alternatively you can consider pension products from insurance cos.

mysore-lakshminarayan: I am 49 earning 60 K. Any scheme to get pension after 62 years.

Sanjay Tripathy: The ideal product can be NPS.

arun venkata: I am 30 and would like to retire at 40. I have a corpus of 20l and have invested in real estate to the tune of 50l current worth and have an outsanding loan of 28l. What do u suggest?

Sanjay Tripathy: You can invest in single premium pension plan and at the time of retirement you can encase the asset created along with the pension kitty to buy an annuity which will give you a steady income for life.

indianbangger: one lakh per year in PPF thats the best

Sanjay Tripathy: You should have a diversified portfolio of PPF, insurance plans and long term investments in mutual funds.

Sambhaji Bhosale: I am 33 and investing around 1.5L combinely for PPF, salary PF and LIC policies. Will that be sufficient for my retirement @45. Please guide if not...

Sanjay Tripathy: The amount you want to invest will depend on the retirement income you are looking into. Looking at the current rate if inflation the income your corpus may generate can fall below the desired income.

Sanjay Tripathy: The amount you want to invest will depend on the retirement income you are looking into. Looking at the current rate of inflation the income your corpus may generate can fall below the desired income.

Padmanabhan Venkatesh: I am 59 & retiring in a year. Have 40 lacs in hand including retirement benefits. How should I invest?

Sanjay Tripathy: You have to invest in an annuity. Choose from a range of annuity providers for the best rates and annuity options.

Ravi Rao: I am 59 and hope to work another few years. How best do I invest present amount of some 40 L

Sanjay Tripathy: You can invest in a single premium product for a tenure linked to your retirement age. At retirement you will get annuity. Alternatively you can invest in an annuity plan and start receiving income.

rajat misra: Is it worth saving money when value of money is depreciating so fast. Like time wasted can never be returned same way can a depreciated money be of any worth later in life.

Sanjay Tripathy: Your investment should able to generate a return which can beat inflation rate. The best option is to invest regularly and for a longer period to enjoy the benefits of rupee cost averaging and compounding.

Sambhaji Bhosale: I am 33 and looking for 1 L per month after my retirement @45. What investment/plans you suggest to achieve this. Please give some examples in terms of numbers

Sanjay Tripathy: Since your investment horizon is 12 years, you should ideally choose an investment mix between debt and equities. You may go for insurance products of life insurance cos.

nikhil kamat: I am around 34 and have a outstanding loan of 11l..suggest any method to repay the same quickly & investment for future..

Sanjay Tripathy: You have to repay from your existing savings and from your current income.


Photographs: Uttam Ghosh/Rediff.com