I am retiring in the next 3 years at 59. Where do I invest my money?

 Here are some investment options to consider for retirement in the next 3 years at 59:

Government-backed schemes

• Public Provident Fund (PPF): PPF is a long-term savings scheme offered by the Government of India. It offers attractive interest rates and tax benefits. You can invest up to ₹1.5 lakh in a year in PPF.

• National Pension System (NPS): NPS is a retirement savings scheme offered by the Government of India. It is a flexible scheme that allows you to choose your investment mix and withdrawal options.

• Senior Citizen Savings Scheme (SCSS): SCSS is a savings scheme offered by the Government of India to senior citizens. It offers a guaranteed interest rate and tax benefits. You can invest up to ₹15 lakh in a year in SCSS.

Debt instruments

• Fixed deposits (FDs): FDs are offered by banks and other financial institutions. They offer a fixed interest rate for a fixed period of time.

• Bonds: Bonds are issued by governments and companies. They offer a fixed interest rate and regular income.

• Debt mutual funds: Debt mutual funds invest in a variety of debt instruments, such as government bonds, corporate bonds, and money market instruments. They offer lower risk than equity mutual funds, but also lower returns.

Equity

• Equity mutual funds: Equity mutual funds invest in a variety of stocks. They offer the potential for higher returns than debt instruments, but also higher risk.

• Exchange-traded funds (ETFs): ETFs are baskets of stocks that track a particular index, such as the Nifty 50 or the Sensex. They offer a diversified way to invest in the stock market.

Insurance

• Annuity plans: Annuity plans offer a guaranteed income stream in retirement. You can purchase an annuity plan with a lump sum payment or through regular contributions.

• Retirement pension plans: Retirement pension plans offer a regular income stream in retirement. You can purchase a retirement pension plan with a lump sum payment or through regular contributions.

Which investment option is right for you will depend on your individual needs and risk tolerance. If you are retiring in the next 3 years, you may want to focus on investment options that offer lower risk and guaranteed returns. However, if you have a long time horizon, you may want to consider investment options with higher potential returns, such as equity mutual funds and ETFs.

It is also important to diversify your investments. This means investing in a variety of different asset classes, such as debt, equity, and real estate. This will help to reduce your overall risk.