My father is going to retire.Where he should invest Rs. 17 Lacs for regular income as well as for its growth?

My father is going to retire on 30th Sep'08. Where he should invest Rs. 17 Lacs for regular monthly income (Approx. 10000) as well as for its growth?

Public Comments

1. i think maybe in india he should invest and buy something such as a hotel or a shop and have different people hired to run it. It would bring in a steady income without having him to do much. Another thing is you should start investing in american companies overseas in india. im sure you have many of those eh grrr. A company such as A t and t or an electronics company would be perfect. Theyre stocks stay relatively stable and you would do fine with that.
2. Better to buy agri land whereever you get considerable price. Four acres of coconut giving yield will be better than investing money anywhere.
3. I feel without taking any risks your father should put money in either post office( Monthly return scheme) or plain and simple fixed deposits, where one can earn decent interest of 9 to 10 percent depending upon the Bank. It is his hard earned money and he should be careful.
4. There are many insurance companies offering monthly plans. There are mutual funds with that kind of offers too. If you are looking for a high return on your investments you can enter stock market your self and start making money. Even commodity market offers a good investment option. You have to learn the basics before planning these investments. Bank savings are not profitable these days. If you are interested commodity futures on gold is a very good opportunity too.
5. now sharemarkets are the only source to invest and earn a quick growth
6. Invest in any MIP (Monthly Income plan).
7. hi sanjeev this is ibrar and i am a investment adviser from chennai. now we r in a days in which investment planning is more important than any other things( we have to beat the inflation and meet the high living costs). first of all pls plan ur investment before investing it. you can diversify your investment in mutual funds, ULIP(Unit Linked Insurance Plans), FD and in share market. As a investment advisor i suggest u to invest in ULIP's (specifically monthly income plans )as of now for which u will get (tax benefit, insurance, attractive returns) a bunch of benefits. because all other investments will miss one of these benifits. so best suitable is ULIP. in this u have lot of funds depends on ur strategy. (low risk, moderate risk,). i can guide u for all ur investment needs and i will do all the planning for you. if u want more details you can contact me. my id is ibrar3@yahoo.co.in my no is 919788011322. thank you.
8. Consider fixed deposit schemes for at least part of your father's investment since they are safe. Visit ratekhoj.com (http://www.ratekhoj.com/fixeddeposit/index.php) to get the best fixed deposit rates in India.
9. post office monthly income scheme
10. Ask him to invest in bank FD where current rate of interest is between 9 to 10 per cent. This will give me around 13000 per month a good 33% more than his investment. Do not invest in MF, ULIP, Land etc. which will give him more tension than returns.
11. well ask you father to visit a certified financial planner.
12. Well, like most of the answers received thus far, there are abundance of alternatives. It can be land, FD, MF, ULIP, SIP, etc etc. In fact, it all depends on the risk apetite of this investment. Since this is retirement money, I assume it to be PF or superannuation returns. Therefore, probably I believe that risk apetite should be very low. FD interest is taxable plus there is a lock in period and monthly outflow feature may not be available. MF / ULIP / SIP are all speculative in nature. Perhaps a pension plan can solve the need better. Assuming age 60, it can easily yield more than 10,000 p.m. plus giving full security and guaranteed return of capital. I design various such special pension plans from LIC. Contact: 09322197831 / bhushansheth@gmail.com
13. Do not invest in any product of an Insurance company. Best options are : Senior Citizen Scheme. Debt Funds of MFs like MIPs, Income Funds etc. MIS of Post Office FDs of bank. Small amount in equity MFs. Ensure that he has a medical insurance policy to take care of hospitalisation.