As Senior Citizen, once a person retires and has a corpus in hand, the prime objective of a retired person is capital protection as well as regular cash flows. There are various investment instruments available for senior citizens from where they can get cash flows.:

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Senior Citizen Saving Schemes

Senior Citizen Saving Schemes(SCSS) is a savings scheme for senior citizens in India that is backed by the government. It is designed to provide financial security and regular income to senior citizens. The scheme offers an interest payable quarterly, and has a tenure of 5 years, which can be extended by an additional 3 years. The minimum investment amount is Rs. 1,000, and the maximum investment amount is Rs. 30 lakhs. Individuals who are 60 years or older are eligible to invest in the scheme. The interest earned on the investment is taxable.

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Pension funds with immediate annuity

The funds from a pension fund can be used to purchase an immediate annuity, thereby converting the accumulated savings into a guaranteed income stream. The annuity payments can be tailored to the individual's needs, such as receiving fixed monthly payments or adjusting for inflation. The amount of income received depends on factors like the initial investment, the individual's age, and prevailing interest rates at the time of purchase.

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Bank / Corporate Fixed Deposits

Bank fixed deposits are a popular investment option for individuals seeking a secure and stable return on their savings. A bank fixed deposit, also known as a term deposit, is a financial instrument offered by banks where an individual can deposit a specific amount of money for a fixed period of time, typically ranging from a few months to several years. The return gained on this deposit is higher than that gained in the Savings account. This is subject to reinvestment risk wherein if the interest rates of the country go down, the returns would be less as well.

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Post Office Schemes

Post office offers time depositis a fixed deposit scheme with various tenure options ranging from 1 year to 5 years. The interest rates are fixed at the time of investment and paid out annually or compounded quarterly, depending on the chosen option.

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Mutual Funds (Systematic Withdrawal Schemes)

A Systematic Withdrawal Scheme (SWP) is a feature offered by mutual funds that allows investors to withdraw a fixed amount of money from their investment at regular intervals. To know more about SWP and Mutual Funds.

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Real Estate Rental Income

Real estate rental income can provide a consistent source of passive income for property owners. By leasing out their property, landlords receive regular rental payments, which can contribute to their financial stability and help cover property expenses or serve as an additional income stream.

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Dividends from Stocks

A dividend from stocks refers to a distribution of profits or earnings that a company makes to its shareholders. When a company earns a profit, it can choose to distribute a portion of those earnings back to its shareholders in the form of dividends. Dividends are typically paid out in cash but can also be distributed as additional shares of stock or other forms of property.

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Reverse Mortgage

A reverse mortgage is a financial product that allows homeowners, usually seniors, to convert a portion of their home equity into cash or a stream of income while still retaining ownership of the property.Homeowners can receive the loan proceeds as a lump sum, fixed monthly payments, a line of credit, or a combination of these options. The choice depends on the homeowner's preferences and financial needs.