Father’s Day 2024: Think of your father’s future with these 26 funds to take care of his financial needs
Retirement is inevitable, and the older generation, which often trusted fixed deposits, can struggle with financial planning due to inflation reducing post-tax returns. The fear of outliving savings is a real concern due to the constant devaluation of money.
Explain the benefits of mutual fund investments. Mention the different types of mutual funds for various financial needs. For short-term needs, suggest debt mutual funds. This is useful if your dad is nearing retirement or already retired. For younger dads, talk about equity mutual funds for long-term goals.
Best MF to invest
Looking for the best mutual funds to invest? Here are our recommendations.
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You can consider a retirement mutual fund scheme. These schemes are designed to help individuals save and grow their wealth for retirement. Offered by various mutual funds, these funds cater to long-term financial needs during retirement.
For retired dads, talk about the Systematic Withdrawal Plan. He can invest part of his retirement corpus in a mutual fund, based on his risk profile, and withdraw a fixed amount regularly through SWP.
Be sure to consider a few key points. Choosing the right mutual fund based on your risk profile is crucial. Conservative investors should stick to debt mutual funds. Also, select the withdrawal rate carefully. To avoid touching the principal, withdraw less than the scheme’s returns.
There are around 26 solution oriented- retirement funds in the market which have completed one year of existence. These schemes have
