Investment Planning- Any person after an age wants to live his life in peace. Those in government jobs get pension after retirement, but those doing private jobs and doing their business do not get any such facility. In such a situation, if you are looking for regular income to make life easier after retirement and are planning to invest, then this news can be useful for you.
Here we are telling you many investment options for regular monthly income, which you can choose-
Fixed Deposits
Fixed deposits are the first choice of investors for investment. You can make Fixed Deposit in Bank FD, Post Office and NBFCs. NBFCs and companies give higher returns as compared to banks and post offices. Senior citizens get additional discounts. However, these fixed deposits carry some risk of default due to sudden changes in government policy or external factors of the company. Presently the interest on FD is around 5.30 percent per annum. The interest earned from FDs can be withdrawn on a regular basis, giving investors the option of an assured monthly income.
Post Office Monthly Income Scheme (MIS)
This investment option can prove to be better for people without any risk. You have to deposit lump sum money in this scheme i.e. invest only once in MIS account, after which you can earn every month. Let us tell you that there is no effect of market fluctuations on any scheme of the post office. Post office MIS is currently getting 6.6% annual interest.
Monthly Income Plan
Monthly Income Plans (MIPs) are mutual funds that primarily invest a small portion in fixed income and equity-related instruments. Fund houses regularly pay their investors with a steady income. The amount is not fixed and depends on the performance of the fund.
There are also possibilities of negative returns in this.
Government bond
Long term government bonds are also an option to earn regular income. Though the maturity period is quite long, investors can use it to earn income throughout the year.
