My father a retired senior citizen of 63 years of age has about 60L parked in FDs which are returning about 10-10.5 % pa for about 10 years. He has already submitted 15H to avoid TDS. He receives his interest money in a savings account directly every quarter.
Now the problem is that except for 15-20k which is used for day to day expenses per month he has no idea about what to do with the remaining amount.
Can some one please guide us here considering his advanced age, what are the best investment options for him that can give him money in the short term of about 3-5 years and also tide over inflation so that all the money kept in FDs does not lose its value.
Besides this he has about 40L profit from a property sale which after indexation calculation comes to about 25L which he has to invest in a property or tax saving bonds. What are his options here and also he is thinking of putting the rest of the 15L into FDs. He already has some investments in real estate and does not really want to buy another property.
He has never dealt in mutual funds and stocks before, so what are his best avenues for investment considering he is such a conservative investor. But the good news is that he is now ready to enter the world of mutual funds and being only a novice in this field, I thought of asking the experts here. Please help us park his funds in the best possible way.
Now the problem is that except for 15-20k which is used for day to day expenses per month he has no idea about what to do with the remaining amount.
Can some one please guide us here considering his advanced age, what are the best investment options for him that can give him money in the short term of about 3-5 years and also tide over inflation so that all the money kept in FDs does not lose its value.
Besides this he has about 40L profit from a property sale which after indexation calculation comes to about 25L which he has to invest in a property or tax saving bonds. What are his options here and also he is thinking of putting the rest of the 15L into FDs. He already has some investments in real estate and does not really want to buy another property.
He has never dealt in mutual funds and stocks before, so what are his best avenues for investment considering he is such a conservative investor. But the good news is that he is now ready to enter the world of mutual funds and being only a novice in this field, I thought of asking the experts here. Please help us park his funds in the best possible way.