How to choose a retirement plan? Please provide your view on Exide Life Golden Years Retirement Plan.
- Rahul Sheorey
Exide Life Golden Years Retirement Plan is a traditional non-participating variable insurance pension plan. Any retirement plan which has in-built insurance element in it should be avoided. This policy is costly and lacks transparency as well. These type of policies do not even provide returns that beat inflation, even a bank fixed deposit will give you better guaranteed returns. For your long-term investment needs like retirement, you must invest in equity mutual funds based on your risk tolerance. Choose a top-rated balanced scheme and start investing every month via a Systematic Investment Plan (SIP) if you a first-time investor in stocks. However, if you are familiar with the stock market, you can invest in a diversified equity mutual fund scheme. You must choose the SIP route as this will help you to average your purchase cost and enhance your returns.