Retirement should be all about checking points off your bucket list and to have a relaxed life. Although everyone desires a smooth and relaxed retired life, very few of us can get one. One of the major tension post retirement is the tension to manage the finances. Nevertheless, there are many smart investment options for senior citizens that can help you manage finances in a better way. However, multiple investment options make it a complex task to choose one of the best schemes.
If you are a retiree or are planning your retirement soon, you need to invest in safe investments like senior citizen FDs to avoid the market risks. Additionally, if you want to enjoy a retired life which is totally independent of the market risks you are recommended to take the following steps:
#1 Say No to Investments that are Subject to Market Risks
Though the stock investments returns are higher, they are not safe. As the returns are dependent and market performance you don’t get fixed returns through such investments. Additionally, it is said that the stock market hasn’t seen this much volatility since the financial crisis as much it has seen in the beginning of 2018. Therefore, investing in stocks or similar schemes like mutual funds or bonds should be out of the scope to lead a financial smooth retired life.
Additionally, you should also say no to the investment schemes whose returns might get affected by the market fluctuations. The interest rate of many investment schemes like pension schemes, senior citizen saving scheme or other monthly income scheme can change during economic inflation. Therefore, you should invest in schemes like Senior Citizen Fixed Deposits that gives you guaranteed returns at a rate that was promised during your investment. Another benefit of investing in fixed deposit is you can invest for a short-term or long-term flexibly according to your plans and requirement.
#2 Don’t Compromise on Your Returns
When you deny the market risks in your investment plan, you might have to forsake many good schemes with higher returns. Although it may sound sad, but it is not completely true. There are investment schemes that provide you better returns that are safe and guaranteed and do not involve market risks. However, to get the maximum returns out of your investment you should research thoroughly and divide your retirement corpus in suitable plans. While there are a few investment schemes that are the safest investment options for senior citizens senior citizen fixed deposit aces the list.
Where Should You Invest?
Investment in company fixed deposit can give you high returns as compared to bank FDs. The Bajaj Finance Fixed Deposit provides you FD facility at a senior citizen FD interest rate of 8.75%. Additionally, you can get the benefit of flexible tenor and better liquidity with fixed deposit investments. You can calculate the return that you will get at the end of FD maturity period through the FD Calculator. You will get the exact same amount after your FD matures as much it is showed by the FD calculator. Moreover, you can refer to a guide on getting higher returns through your FD investment to make the most out of your FD investments.
