The last supper? Not if you plan it right

In our previous segment, we delved into tailored investment strategies for individuals aged 35 to 50. Now, we shift our focus to the financial considerations and model portfolios designed specifically for those in the 50 to 60 age bracket. Ideal portfolio for 50 to 60-year-olds Aneesh Mathew and his wife Rita, a 50-something couple earning a combined salary of Rs 5 lakh per month, are on the cusp of retirement. They have successfully handled their life's primary responsibilities. Their daughter is now financially independent, and their younger son is nearing graduation. Yet, they wonder if they could secure a serene retirement for themselves. It's pretty standard for someone of Mr Mathew and his wife's age to see their needs and wants undergo a transition. They are at a stage where they have savoured a sumptuous thaali but wonder if they can afford more such indulgences in the future. Fortunately, they can. Our number crunchers doubled up as chefs to serve a piping-hot thaali that can be customised to meet the needs, desires and responsibilities befitting someone in their 50s. Monthly expenses (35-35 per cent of income) stay with you lifelong, though they keep changing over time. For example, Mr Mathew and his wife now live in their own house. They do not pay any rent. What's more, they have paid off their home loan, too. However, if you live on rent, this component of your finances will remain high throughout. Or, if you're a homeowner still paying an EMI, you must account for that until the loan is fully repaid. In short, depending on your circumstances, this component will vary. Priority: Very high. Investment horizon: It's a lifelong process. What you should do: Keep your money in a bank savings account. Medical emergencies (10-12 per cent) can be