9 Retirement Planning Strategies for Regular & Safe Income | Senior Citizen Saving Scheme & MORE
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- เผยแพร่เมื่อ 14 มิ.ย. 2024
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In this video, I delve into 9 retirement income strategies that can help you secure a comfortable financial future. For senior citizens (and even those in their 40s and 50s), it is increasingly important to have a retirement plan in place that will provide steady income to support your lifestyle. I cover a range of options in this video including senior citizen fixed deposits, Senior Citizen Savings Scheme (SCSS), Post Office Monthly Income Scheme, Government securities, rental income, annuities, mutual funds, reverse mortgage and more. I have explained every retirement strategy is sufficient detail including how it can fit into your overall retirement plan. By the end of the video, you will have a better understanding of the various retirement income options available, and be able to make an informed decision on which approach is right for you.
❤️ I hope you LIKE this video and if you do, then please SHARE it with your parents and other senior citizens so that they too can receive the benefits of this knowledge. Thanks!
👉 Video Chapters:
00:00 Retirement Income for Senior Citizens
00:59 1. Senior Citizen Fixed Deposit
04:14 2. Senior Citizen Savings Scheme (SCSS)
06:35 3. Post Office Monthly Income Scheme (POMIS)
07:33 4. Mutual Funds
09:51 5. Government Securities
12:14 6. Annuities
14:03 7. Rental Income
15:52 8. Reverse Mortgage
18:02 9. Active Income
👉 Resources and Reading Material:
‣ Post Office Monthly Income Scheme: www.indiapost.gov.in/Financia...
‣ Good Article by Capitalmind: www.capitalmind.in/2022/06/si...
‣ Latest interest rate on SCSS, Sukanya Samriddhi, National Savings Certificate and other small savings schemes: economictimes.indiatimes.com/...
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Disclaimer: I am not a SEBI registered investment advisor or research analyst. The content posted on this platform is purely for educational purposes and none of it constitutes investing or trading advice. Viewers should do their own research and diligence before investing or acting on the information presented
![ทัศนศึกษาโรงงานผลิตโค้ก [THAI/ENG SUB]](http://i.ytimg.com/vi/M9y-TJBNem0/mqdefault.jpg)
Simply genius.
SHARED THE VIDEO.
Wow! What a comprehensive and insightful video.. Great job! I will file this into my playlist of all-time favourite videos. Thank you!!
Glad it was helpful! Wishing you the best Ajay
This is a comprehensive list of investment options for senior citizen. I think one of kind video on youtube.
Kudos ❤
Glad you found it useful.
Thank you . This has been a valuable presentation.
You're very welcome
Thank you for this extremely informative video. You have covered so many options in one video.
Thank you very much. Glad you found it useful
Thanks for very detailed and useful information
Most welcome! Glad you liked it
Thanks for sharing valuable information, God bless you
Most welcome. Glad you liked it 🙌
Thanks Shankar. Very informative presentation. ❤
So nice of you. Most welcome, Karthikeyan
Very nicely explained, thank you. 🙏
Most welcome Harshvardhan ji, glad you found it useful
Really appreciable well designed content 🙏
Thank you very much!
Informative video. Thanks for putting so much hard work for us.
Most welcome, glad you found it useful
Excellent information. I thought that I knew many things about finance but you have added much more to my knowledge. Thanks for sharing such helpful videos
Glad you are finding the videos helpful
Thanks for the lovely work. It'll really help my dad.
Glad to hear that! Many senior citizens are too boxed with what they already know so this video has been designed to open them up a bit. However, before he takes any decisions, please ensure you carefully explain him the risk & return matrix. He shouldn't be taking a lot more risk for pennies.
Thanks for working out such a nice information..
My pleasure! Glad you found it useful
Excellent video as always😊👏👌
Thank you so much
Great video Shankar! Very informative.
Thank you very much!
Wonderful Content as Always
I appreciate that. Thank you!
Great content and information, as always.
A decade away from my retirement, but what a solid BASE to look forward
Thank you very much. Yup, a good time to review and progress for you from here
Best presentation. God bless you❤
Thanks a lot 😊
As usual an excellent session again Shankar. Getting into detail on every aspect is too good to learn and understand easily.
Thanks a ton, Gopi 🙌
Excellent
Thanks!
Thank you very much Bikash. Glad you found the video useful and will put some of it into action. Much appreciated!
Educative and insightful video with calming voice
Thankyou sir.
Most welcome. Glad you found it useful
As always,you through light on unknown points even on common topics.. you give us a changed perspective sir 😊new options in this case
So nice of you. Glad you found it useful
Very nice and understanding explanation
Thank you very much!
Excellent way of explaining
Thank you!
Excellent as always 🤟😎
Thank you!
What a beautiful way of simplifying things, dear Shankar. Please keep this up. I have subscribed!
Glad you liked it and welcome aboard
Learnt new things .Thanks
Glad you hear that.
Mr Shankar Nath - You are GODS GIFT TO RETIREES & THOSE WORRIED ABOUT "COMMON SENSE" PLANNING FOR THEIR RETIREMENT
Thank you. Glad you found it useful
Very nice explanation!👌👍
Glad you liked it!
Excellent information
Glad it was helpful!
You are an inspiration for upcoming content creators
Thank you very much, Vikram. Much appreciated
@@shankarnath I'm also thinking of becoming a creator and your hard work truly inspires me
@@vikram0607 Wishing you the best.
Wah wah wah wah! Love the way you explain sir.what a detailing❤
Thank you very much!
Absolute Gold!
Thanks!
too good sir surely will share with friends kudos
Thanks a ton Jitender ji .. very kind of you. Do help out your elders if they need any help with their finances. As a high savings country, many senior citizens have maturing fixed deposits etc. and they often struggle with what to do with that lumpy money
Thank you very much sir. God bless you
Thank you very much Sushil ji
Very nice & informative video.. just subscribed..
Thanks and welcome aboard
Excellent one sir. Expecting a lot of videos on less explored financial options/products.
Thanks a lot.
Most welcome
Service to Humanity!
Sir, maine bahut financial youtuber or Influencer ka content dekha hai, but your knowledge and information is much much deeper and in a easy to understand. Respect you.
Thank you very much Sushil ji.
Valuable information
Thx 🙌
Sir extraordinary content explained crisply in a very simple way… way to go
Thanks a ton. Glad you found it useful
Sir, really a very useful information to retirees and god bless you sir for your detail explanation without hiding anything 👍🙏
Thank you very much. Glad you found it useful
Very nice, friendly and highly professional..🙏🙏
Glad you liked it!
Appreciate your humility to reply a layperson like me💕💕🙏🙏
Shankar Ji very very useful content and many many thanks... from all SC....
Always welcome :)
Shankar sir, you are doing a good job, good in depth content
Thank you
Great video! Thank you, Please make part 2 of this video with Tax Liabilities of the differnt schemes. Also best way to optimise withdrawals.
Thanks for the suggestion
This is such high quality content! Kudos to you, Shankar!
Thank you very much 🙌
Hi Shankar -if i need to connect with you , how can I reach you?
@@ayeditya I'm on hello@beginnersbuck.com
Sir, I am seeing it first time, very clear ideas & all schemes clearly explained, myself taken screen shots of your various charts, I am going to retire in this year, it will be very helpful to me. Thank you so much, Bring more and more videos.
Best wishes for future journey.🙏
Thank you very much Shriniwas ji. Glad to see that you found my content relevant and potentially useful.
Thanks
Thank you for your kind appreciation and this gratuity
This is one of the most brilliant information i have recently come across, a lot of great information shared with a great efforts put in to made it as useful as possible, you are extraordinary sir, thanks for the info.
Most welcome, Ravikumar. Glad you found this collection of instruments useful. Please do share it with your friends and well-wishers.
Vry engaging and clear video 👌
Glad you liked it
Brilliant Elaboration
Thank you!
Very interesting as i am in the mentioned age group to work on my Sr. Citizen income portfolio. Thanks Mr.Shankar for putting this together. Really helpful. I will post it in my other Social media platforms!
Hope you find it useful, Mr. Subramaniam. And thanks for the shares! 🙌
Sir ur putting lot of effort in your video .keep going 1 million will be soon coming 😊.with ❤ from Bangalore
Thank you so much 😀
Great content
Thank you
Good one
Thank you!
Excellent coverage. NPS should have had a mention as one of the instruments. It only got a cursory mention in the annuities section.
In my view, NPS is a pre-retirement instrument and the 9 options explained here were all post-retirement instruments. One can invest in an NPS only until the age of 65 & one has to withdraw/buy annuity by 70 years -- so it really doesn't serve the purpose of retirement income. If you have a counterview, please let me know. Thx for the suggestion!
Hi Shankar ji, thanks a lot for sharing a variety of financial avenues that a senior citizen (like my 66 year old Mom) can benefit immensely. As her only son, I have been working hard since a decade so that she can streamline her income and build wealth too in her golden years. Thanks again for highlighting the financial instruments in details for the senior citizens. I’ll definitely share this video with her. Also, happy ‘Rongali Bihu’ (it’s the biggest festival of spring, Mother Nature which signifies colours of joy and start of Assamese New Year). 🙏
Happy Rongali Bihu to you, Partha ji. I was reading about it yesterday along with news of investments announced by PM Modi incl. AIIMS Guwahati. At my home, we celebrate the commencement of Tamil New Year. I wish you and your family a wonderful year ahead .. and happy to know you found the video content useful.
Shankarji goo for people without pensions from their employment when they were productive.
Thanks Shankar, very useful information because very soon I will retire from work, need to invest my retirement accumulation very securely to protect myself and my dependents.
Most welcome, glad to know you found this helpful .. and wishing you the best!
Thanks for sharing the useful information.
Started with certificates 😂😂😂. Good Creativity 👏👏
Most welcome
very informational video ShankarJi. Used to watch many of your videos on ET Money. My request for this video would be to add max investment limits in the summary matrix for each investment vehicle especially the Govt related schemes. Kudos & keep up the good work.
Thank you for your appreciation and suggestion
Hi Shankar, I have been a viewer of your videos since the last few months and I must say I look forward to new content from you every week. This video in particular will be useful for my relatives who are senior citizens and are looking for avenues to invest a portion of their money.
I would also like to tell you that I provide high quality captions/subtitles on videos, and I was thinking they can be a good addition to your videos. I'd be willing to add captions for completely free to your first upload, and if it is something that you'd like to have going forward in each of your uploads then maybe we can get in touch!
(Added bonus is I'm also a Chelsea FC fan :D)
Hello Gokul,
1. Thank you very much for your continued patronage. I hope your relatives find the video useful
2. I have been adding subtitles in all my videos. My understanding is - for users who need it (esp. if they are watching while transiting & w/o headphones), they can tap on the CC button and read it. If you have something else in mind, please write to me at hello@beginnersbuck.com .. thanks!
Thank you very much for the information shared. Can you please share some video on people in private jobs with no or very less post retirement benefit from their employers.
Most welcome. I think you are referring to pre-retirement investments. That's a big topic in itself. I don't have a video on it yet.
Thanks a lot for this wonderful video. 11:20 speaks about many ways, it would be helpful to add an example of them in the description. Particularly, I tried to find out about aggregation platforms, and could not find any.
Most welcome and thanks for your suggestion
Sir
I was wondering how you place the video on need time. Yesterday I was trying to explain the same options to my parents. Now, I can have a great clarity on my explanation. Again I'm comment one. Thank you sir 🙏
Most welcome, hope you & they find it helpful. I gave my father a preview earlier today and he liked it
Sir, would you advise investing retirement corpus (some amount) in RBI SGB and RBI Flexi Bonds?
Amazing opening with the certificate image😂.
Thank you!
Investing in low volatility and high dividend yield stocks are also an option for retirement.
What a fine video Shankar! Very interesting to know about the reverse mortgage product. Is it available only for senior citizens? Is it available on a house that is rented out to someone else and also for a plot of land with no house on it? Maybe you cam share some materials about it as there are so many questions on reverse mortgage.
Thank you. Yes, a lot more information is available on the Internet esp. bank websites. Some links:
homeloans.sbi/products/view/reverse-mortgage-loan
www.unionbankofindia.co.in/english/personal-retail-reverse-mortage.aspx
www.indianbank.in/departments/ind-reverse-mortgage/#!
www.idbibank.in/reverse-mortgage-loan.aspx
bankofindia.co.in/star-reverse-mortgage-loan
Plz do one video on best SWP scheme?
Thanks for the suggestion
Great content!. Can you please create dedicated video on Real estate (rental, buy commercial vs flat vs plots).. would love to hear your perspective..
Thank you! I'll add investing in real estate (physical) to my content queue
@@shankarnath Thank you
Sn excellent video and your coverage of the schemes is very comprehensive. But somehow the Reverse mortgage has not picked up in India
Thank you very much
Hi @shankar.can you please do a deep dive on a reverse mortgage. There are some fine prints on what purpose the monthly money received can be used for.
Kindly create a video exclusively for the same.
Thanks for the suggestion
Thanks sir for your great videos...eagerly waiting to see latest from on et money genius as its been now more than 1 year hows the returns comparing to bench mark
Thanks for the suggestion
Very informative video. I wonder why you haven't included ppf. A corpus gathered over 20-30 years can ultimately lead to healthy annual withdrawal of interest / capital to fund retirement.
Thank you. The video was on post retirement income strategies i.e. AFTER a corpus has been accumulated. PPF is one of the many instruments that is used to accumulate a corpus.
A great video I stumbled on. Thank you. Do suggest some interest free income, specially useful for those Sr. Citizen who get pension just within tax-free limit of 5L.
BTW I am now your subscriber
I am 69 years old.
Welcome aboard sir. Do you mean "interest free" income or "tax free" income? If it's tax-free, then there's always:
a) PPF
b) life insurance traditional plans (I don't like these much as they give ~6% returns)
c) tax-free bonds
d) ULIP (this is OK, but please go for low cost ULIPs only & allocate in debt)
I think there arent't many options here and over time I've encouraged my parents to think in terms of opting for high return instruments like a balanced advantage fund where the returns over time are higher (10-11%) and an LTCG tax of 10% (after a 1 lakh exemption) means they make 10% return on capital. Please do consult a good financial advisor for more details on this, thanks!
I've invested in Balanced Adv, Flexi-cap, and small cap.
Sir which mid cap mutual fund is best for long term sir..
Hi Shankar ji, I plan to add pginvit 10% on debt portfolio , it is good?
Hi Shankar please do a video on SWP it's pros and cons for a senior citizen
Thanks for the suggestion .. I'll try 🙌
Until then .. From a senior citizen perspective, an SWP helps set up a regular stream of income from MF investments and discounts any impulse decisions any investor might take.
The major disadvantage is that it can erode capital in a bearish market. But honestly, I don't think a senior citizen should think about what-if situation and focus more on the primary goal i.e. receive regular income
Great Video.. I would like to suggest you make some content on NRI investments in India for both debt and equity, also may be highlight the tax implications..
Thanks for the suggestion
Out of many options described in the video one may select few to generate regular income as per own requirement. Just to add only that much income should be generated by using these options that is required for managing once periodic expenses, as extra income generated will burden you with extra taxes. 2nd only annuity can lock decided fixed return for rest of the life of the investor.
Thx for sharing your views
Very nice information 😊; However, just wondering people in theirs 20s or 30s should focus on what Corpus amount for their retirement at age 50-60- or maybe 70?; I think if we will be an advanced economy by then we probably may have much less interest rate maybe 5% or even below. So, is it good to relax and plan considering 8% or above for a retirement planning. Obviously one can expect 12% returns atleast in good equity debt AI mix.
Thank you, glad you found it useful. I prefer reviewing the factors every three years and being conservative in my assessment
Dear Shankarji,
Big fan of yours since your ET Money days.
I have a question on Target Maturity Funds.
How to best use TMF?
Can this be used to build a corpus like a Bank RD over a 5+ years ?
i.e. can we use SIP in target maturity funds create a small corpuses at different period of time ?
i.e. Child Education , a down payment on home purchase etc. ?
A video on TMF and how to use it will be very helpful
Thank you for your suggestion
Good video for senior citizens, can you share where do early retirees invest,
Thank you. I don't have specific information on where early retirees invest but if I can proffer a guess, it should be a mix of equities and bonds. The equity ensures the portfolio remains above inflation while the debt part ensures cushioning from shocks.
@@shankarnath Thank you!
I like your reverse mortgage idea. If I have 2 houses, can I reverse mortgage the 2nd house and also rent the house.
Kindly check with your bank on the process, pros and cons. Different banks have different terms and conditions, please understand them
Can you make a video for investment opportunities for central / State govt pensioners from their retirement benefits.
Thanks for the suggestion
Excellent consolidated information. If you can make video on people in age group of 45-50 Yr covering retirement planning options like Differed Annuity , NPS etc in detail will be helpful.
Thanks for the suggestion
Sir please make video on hinglish language...
Very interesting video 👍Can you please share the link where we can buy Govt Bonds..RBI retail online. Thanks
rbiretaildirect.org.in/ .. specifics on the steps are available on the Internet, please read those too as it requires the opening up of an RBI account aswell. Thx!
This video is gold.
I keep on reviewing gold nuggets u have shared.
1. Could u pls share if NSC and SCSS interest is taxed as FD or is taxed only at the time of maturity.
2. Government securities - if i want to invest in government bonds, not buy from secondary bond market, how do i do that. I havent see govt issuing bonds in a long long time.
Hello, I can't be sure as tax is not my strong suit. There was an article on this very point on livemint but I still not certain, maybe you can have a look at that. The article also mentions the email id of the author, perhaps you can contact him for advice. Link: www.livemint.com/money/personal-finance/national-saving-certificates-nsc-income-tax-rules-on-interest-explained-11664976013730.html
Thank u so much.
Really appreciate your prompt response.
Hi Shankar. Thanks for your video. What about corporate bonds and NCDs especially the ones backed by state government
Most welcome. Which state backed instrument do you have in mind?
I eas referred to UPPCL and Andhra Padesh State Bewersge ltd
Is reverse mortgage an established product in India?
Hello Sir .. Thanks for educating in a comprehensive and elaborative way. It is highly appreciated if you let us know whether you are providing personalised financial planning services and / or services regarding overall mutual funds portfolio for SWP and growth perspective. Pls give your contact details in that case.
🙏
Hello Vidula - not currently due to paucity of time, but I'm working the specs for a paid model. Please allow me until the 1st week of May to get back on this.
In dept fund what happens to interest of liquid fund overnight fund or any other dept fund what haapen to interest do we receive interest or it is kept by mutual fund and our profit is just increase in NAV
It depends on whether you are going for growth or IDCW plan.
Great video.. Can you pl throw more light on State Govt bonds .. Some of them are offering int rates upto 11-12% .. For example Andhra bonds .. UP bonds.. Why there's so much difference? Are they safe ??
Thank you. Are you referring to State Development Loans (SDL)? Pls read up more about it on mf.nipponindiaim.com/knowledge-center/what-are-debt-funds/state-development-loan
Can you please make a vedio on SLBM
Thanks for the suggestion
Hi sir , thanks for this wonderful video . Regarding the scss scheme , my dad had invested in the same last dec . Regarding the 30lakh investment , is this already active and can senior citizen directly invest 30lak today if they go for both himself and spouse each totalling to 60 lakh ?
Most welcome. You can enquire if the 30 lakhs functionality is live from your nearest bank or postoffice. Many might have even announced it on their website
Thanks sir
Shankar ji,
Whether annuity is advisable for retired person or SWP from a mutual fund is good option.
Whether annuity is good considering return point of view.
In my view, annuities should not be looked from only returns standpoint. Infact, returns is a bit later. The primary way to look at them is in terms of predictability. In the example I gave, 10 lakhs at age 45 .. is 11,192 rupees every month from year 57 onwards for the rest of one's life. Now this is a good framework and there are some consumers who'll say "well, let me put in 10 lakhs every 2-3 years in a similar deferred annuity plan so that I can receive a higher monthly income as I get older". A fixed return has its charm and I believe annuity seekers would look at it that way.
Coming back to returns, this depends from insurer to insurer and there are many variants of annuities. A discussion with an agent is a good way to understand all the available options.