Wealth Management Strategies for Senior Citizens to Achieve Rs 1 Lakh Monthly Pension

Monday, 23 September 2024, 02:27

Business news reveals that senior citizens can secure a monthly pension of Rs 1 lakh through strategic investment options and financial planning. Key aspects include inflation adjustment, risk appetite, and investment in fixed deposits and equity mutual funds. Experts recommend a corpus of Rs 1.2 crore to Rs 1.5 crore for achieving this goal with an expected return rate of 8-10%.

Indiatimes — Wealth Management Strategies for Senior Citizens to Achieve Rs 1 Lakh Monthly Pension

Investment Options for Senior Citizens

As senior citizens confront the challenge of securing their financial future, several investment options emerge as viable pathways to achieving a consistent monthly pension.

Inflation Adjustment Considerations

When planning for a monthly pension, it's crucial to account for inflation adjustment in order to maintain the purchasing power of savings. Fixed deposits provide a safe but lower return, while equity mutual funds offer higher potential growth.

Recommended Corpus and Returns

Experts suggest a corpus between Rs 1.2 crore to Rs 1.5 crore.
Expected return rates should be around 8-10%.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.