Safe Investments for Senior Citizens

Safe Investments for Senior Citizens

Senior Citizens means people having age more than 65 years. For a Senior Citizen, the main financial goal is not the growth of the Capital at high risk. But for them, The Goal is to preserve the Capital as well as beating the inflation to protect the purchasing power of the Capital and at the same time regular income from the Capital.

Here are few Safe Investments for Senior Citizens -

01) GOI Bonds – Government of India 8%, Savings Taxable Blonds are the safest investment vehicle. They not only give the Capital Protection Guarantee but also provide the regular income 6 monthly.

02) Bank FDs – Another Great Investment option for Senior Citizens is Bank Fixed Deposits. They are also safe and provide you good returns.

03) Post Office Senior Citizens Scheme – This is Best Investment for senior citizens I think. Because they provide 0.5-1.0% higher annual return than any other post office savings schemes. Post Office Senior Citizen scheme is launched by Government of India only and you can subscribe this scheme at wide network of post offices all over the India.

04) Debt / Monthly Income Mutual Funds – Another Best Senior Citizen scheme is Mutual Funds. Now a days, Mutual Funds are so well managed that, you can just divert your money towards the fund manager and he will manage your money. Debt & Monthly Income Mutual Funds are the Best options

05) Start Your Own Business – Well, Yes. You have read right. I am talking about starting your own business as a senior citizen. You will now think that, How can a Business be a Safe Investment? Well, A Business can be a safe Investment as well as fun for the Senior Citizens. Just ask your self that, What is your PASSION? And develop a Business around that Passion. If you love to read a book than start a Book renting Business on small scale. If you love to cook and eat than start a small restaurant. There are several advantages of starting your own Business as a Senior Citizen.

One advantage is that, Your Business will provide you a steady Income even without your presence to run it. And second thing is that, Your Business will be a great time pass for you. The Best thing about starting your own Business is that, once it grows to certain size, you can hire managers to run it and after that, it will run without your presence.

Another great thing about starting a Business is that, you can pass on your Business to your grand children also. A Business is something which will run and grow automatically even without your presence. So Business is not risky at all. Don’t afraid of it.

So all of the above are the Best Safe Investments for the Senior Citizens. Kindly let me know if you know any other Safe Investment for Senior Citizens.