Post Office Monthly Income Scheme:\u00a0<\/strong><\/p>\nBy helping you save a particular amount each month, this option is a great scheme by the government. Senior citizens look for a fixed income every month, and Post Office Monthly income is extremely beneficial for them.<\/p>\n
There is no limit to the number of accounts for a particular customer; however, the maximum amount that can be deposited is limited.<\/p>\n
National Pension System:\u00a0<\/strong><\/p>\nOffering retirement benefits, the government of India has taken this initiative and introduced a National Pension System that benefits all the citizens, especially the senior citizens.<\/p>\n
Offering benefits like liquidity and flexibility through two accounts, tax, partial withdrawal, etc., it is a perfect option for senior citizens who look for a stable income.<\/p>\n
Mutual Funds:\u00a0<\/strong><\/p>\nInvesting in mutual funds can give you higher investment return and hence are a suitable investment option for senior citizens and pensioners. Large-cap funds are low risk, and small-cap funds offer a high risk. You can search for the best mutual fund investment options that suit you the best and invest in the same.<\/p>\n
Post Office Fixed Deposits and Recurring Deposits:<\/strong><\/p>\nWith additional safety, post office fixed deposits, and recurring deposits are pretty much similar to Bank FDs and RDs. You can open a 5 year RD account and invest a small amount of money. There is also no limit to the number of bank accounts that you can open. It is a viable option for senior citizens and pensioners.<\/p>\n
Insurance Premiums:<\/strong><\/p>\nThere are some options for investment available, like Endowment Plans and Unit Linked Insurance Plans. Research before you pick any of these options and opt for the one with the lowest charge. Some of the insurance charges are fund management, premium allocation, policy administration, etc.<\/p>\n","protected":false},"excerpt":{"rendered":"
Senior citizens need a sense of security and a means of regular income. They seek options that will ensure high investment and sufficient returns keeping in mind safety at the same time. To enjoy the retired life in luxury and relaxation, they need a sense of stability and inflow of regular money. There are some […]<\/p>\n","protected":false},"author":1,"featured_media":949,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[156],"tags":[3405,3406,3404],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/posts\/948"}],"collection":[{"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/comments?post=948"}],"version-history":[{"count":1,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/posts\/948\/revisions"}],"predecessor-version":[{"id":950,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/posts\/948\/revisions\/950"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/media\/949"}],"wp:attachment":[{"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/media?parent=948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/categories?post=948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.voozon.com\/wp-json\/wp\/v2\/tags?post=948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}