If you are a self-employed of in a profession which does not enable you to invest into an Employee Provident Fund, then you must start and invest into Public Provident Funds. The benefits are many but tax benefits and guaranteed returns at 8% are at the top of the list. Not only will your retirement be in hassle free incomes but also your chances of getting into any unnecessary debt like personal loan or home loan are cut down to nil.
If you have a working spouse, do persuade them to open a PPF and exhaust the maximum limit of investing Rs70000 each. Together you can guarantee a regular income after your retirement. Investing in SIPs is also advised since, for young couples, they have a much longer earning capacity, so generating income from that avenue is also sought after.
Diversification of fund investments is something that we come across every single day. Having a good balance between debt equity must also be ensured. If you are a young working couple, it is best advised to start off by investing a considerable amount into equities and the rest in debt. Reverse the ratio once you are approaching retirement. With that you are opening another income avenue.
Try not to invest a lot in health covers. Be reasonable and invest a suitable amount into health insurance depending on your incomes, so as to not deviate from equities investments. NPS(New pension scheme) is another option that private employees like doctors can look into a sit is long term and is best suited if you have an equity-linked retirement planning.