Can anyone advise them what and how much should they invest or buy?

My parents are nearing their retirement age and want to plan for their retirement in order to have good finances after retirement.

Public Comments

1. Take care of following for happy life after retirement-- • Balanced stock allocation; don’t keep all eggs in one basket and balance your risks • Plan Product allocation- Decide how much retirement income should be generated from mutual funds and other conventional financial plans and how much should come from variable and life annuities. The best thing is to allocate your money to different retirement products for best risk-management policy. • Life annuities—These will give you’re a fixed monthly income for the whole of your life as a retiree. • Know your income gap—You must calculate your income gap, that is, the income required for meeting requirements for your living after deducting guaranteed income from government schemes, pensions and annuities. If the savings are around thirty-five times more than your income, then you are certainly at a low risk of outliving your retirement amount.