My mother recently retired after working for several years in a government-aided school. She has received Rs 6 lakh as gratuity, besides other pension benefits. Where can she invest this sum for the next 7-8 years?
Arup Ganguly, Kolkata
She appears to be a first time investor and hence it would be advisable if you look for a fund which is stable with returns over this period that you could consider. Invest in a balanced fund like ICICI Pru Balanced or ICICI Pru Balanced Advantage fund to invest in. Both of them are suitable for investors who are new to investing and are looking for funds that have low volatility. You could invest through SIPs in any of them and stay invested for the long run. Ensure that you review the performance of the fund at least once a year to ascertain its progress.
