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.
This article was originally published on March 11, 2016.
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