World Senior Citizens Day 2023: From Mutual Funds to bank fixed deposits to PPF. Best investment options for elderly

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equity funds carry higher risks, debt funds can provide stable income, making them suitable for elderly investors seeking steady returns. “However, it's essential to choose funds with lower volatility and a history of consistent performance," said Amit Gupta, MD, SAG Infotech. FDs are known for their security, making them an attractive option for senior citizens.

Gupta said that FDs assure a fixed interest rate over a predetermined period, but their returns might be relatively lower compared to other investment avenues. Nonetheless, they offer stability and can serve as a part of a diversified investment portfolio, he added. PPF and post office savings schemes are government-backed instruments that emphasize safety and long-term growth.

PPF, in particular, offers tax benefits Post office schemes like Senior Citizens Savings Scheme (SCSS) provide regular income at a higher rate, catering directly to the needs of elderly individuals. “When considering these investment options, it's prudent to consult a financial advisor. Their expertise can help in crafting a well-balanced investment strategy that aligns with the individual's financial situation, goals, and risk tolerance.

Diversification across multiple instruments can help mitigate risks and ensure steady returns," said Amit Gupta. For senior people looking for investing choices, gold may prove to be an appealing option, particularly when you consider its long record of stability as well as preservation. “Gold is frequently regarded as an insurance policy against rising inflation plus economic volatility.