Investment for Senior Citizens
Goal of senior citizens is WEALTH PROTECTION
Senior citizens should invest in following products:
1. Debt Mutual funds
2. Bank FD
3. Senior Citizen Scheme
4. Balanced mutual funds
5. High Dividend stocks.
1. Debt mutual funds invest in fixed deposits, Corporate Bonds and Government bonds.
There are many types of Debt Funds you need to do research because some debt funds are misleading and they invest in shares also.
Safest debt funds : Liquid funds and Arbitrage funds
2. Senior Citizens need regular income for Health and Living.
If one has adequate funds in Debt products then some amount can be invested in MF.
3. Safety is important than growth
4. Senior Citizens should have more component of DEBT than Equity.
5. Person can have Income from
Rent from property
Dividend from shares
Interest from FD
Capital gain from Debt fund SWP
6. SWP: You can decide Fixed amount, then MF will liquidate units and transfer money to your bank account
7. After 60 age, you need to start shifting from Equity to Debt products