I have just retired. I do not have any pension and have got my provident fund settlement from company of Rs. 25 lakhs. I would like to invest it in a safe, risk-free instruments and also get good returns.
Typical Media answer:
This is your life time saving, and you are correct, YOU SHOULD NOT TAKE RISKS. We suggest you invest the same in a bank fixed deposit or a post office savings scheme. You may be able to get a better return in mutual funds, but we think you should stick to this, because of the risk involved.
THIS WAS PERHAPS THE ANSWER EVERY media expert (Television, Web, blog, magazine,…) would give.
However the answer is PLAIN STUPID and DUMB advice. The correct answer is much longer…would love it if any ‘NON-EXPERT’ can answer this question! Will answer it in a few days…
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