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  • Category: Miscellaneous

    Be careful and avoid slip between the cup and the lip

    We save money when we are earning and see that we will have some reserves to utilise after our retirement. We all should be very careful in investing this amount in various instruments like MF. FD or shares etc. We should be very alert in choosing the correct instrument to park our funds.

    A friend of mine who retired recently drawn his PF amount. He gave that amount to a very well-known person who offered a very high rate of interest instead of investing it in a standard institution. After 6 months that person disappeared and my friend is in very deep trouble now.

    So, I advise all the members to avoid risks in saving their money so that their retired life will be happy. We should not trust known people also in money matters. These days people are not hesitating to deceive others. So advise all to be careful and avoid slip between the cup and the lip.
  • #743694
    When it comes to the money matters then we should be very careful and alert and should not believe anyone even if he is near and dear to us. The lure of money can make even an honest person to behave in a wrong and deceitful fashion.
    An ordinary person who has earned some money by struggling three to four decades in jobs during his prime time has to keep that money safely in low risk areas. It doesn't matter even if the gains or returns on that capital are less. If he loses that money by getting deceived by someone then it will be a very sorry state of affairs and his old age will be in danger.
    It is always desirable to keep the money during the old age in low risk areas preferably government securities.

    Knowledge is power.

  • #743696
    After reading the post my thoughts went to so many retired persons who are unable to decide as to what would be best place to invest their hard earned retired money and though the banks and post office savings are the best bets, the interest rates are too low and thus the elders are confused and wants better returns on their investment and end up as failures and that is shocking because as the elder they must draw wisdom and advice others for good trait but here the elder himself done wrong thing and lost every money. What I feel that govt at center should have one good scheme for the elders that must secure their investment, take care of their health needs with comprehensive insurance and assure monthly release of money to take care of their daily needs. Then only the elders would feel the security of life and have the respect at the home
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #743699
    Once the employees are retired from their jobs, they get handsome amount by way of their accumulated fund of PF and Gratuity amount. Though the funds accumulated are not enough sometimes depending upon their longevity and the inflation deprived them of the essential needs. However, they may enjoy relief by investing the corpus in the suitable investments. Looking up at the fixed deposits of the banks, customers have lost its attractiveness due to low payouts of interest. They are lured by the the false promises of their near and dear ones of getting handsome money if they spare the same to them for a certain period. The fact is otherwise. At least, the government should come up with some plan to protect their money with the appropriate instruments so that they are not deceived by their relatives.

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