4 Schemes to Earn Regular Income After Retirement
The post-retirement period is a special phase in most people’s lives. You’ve worked hard, accomplished your major goals, taken care of your responsibilities, and you’re now looking forward to a well-deserved period of relaxation and leisure.
You are also able to enjoy the fruits of your financial planning. The big difference is, you may not have a regular income now. You may dip into your retirement corpus, but inflation, market volatility and unexpected expenses may dent its value. At the same time, rising life expectancy might make that corpus seem a little smaller than you first thought. You might begin to worry about managing your monthly expenses. To stay on top of these expenses and achieve your ambitions in retirement, it would be useful to maintain a regular source of income.
A detailed personal finance plan can help you measure the income you need, and therefore the kind of income sources you should explore: To help you get started, here are four instruments you can rely on to generate a regular income and enjoy your life after retirement:
Senior Citizen Savings Scheme (SCSS)
Post Office Monthly Income Scheme
Pradhan Mantri Vaya Vandana Yojana (PMVVY)
Schemes like the above mentioned can give you a steady income, in order to meet your expenses and live the good life, even as you maintain a healthy retirement corpus. Do consult your financial advisor to start maximising your funds for a secure retirement.
Source: 1. https://www.centralbankofindia.co.in/en/Senior_Citizen_Deposit
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