My father will retire in April 2012. Please tell me where I can invest money for him so that he gets a regular monthly income after retirement.
-Anonymous
If your father is unlikely to get any income by way of pension, then he should invest in some guaranteed return-oriented investment like the Senior Citizens Saving Scheme, which yields 9 per cent and gives out an income every quarter. He can also invest in Post Office Income Schemes or Post Office Deposits, which can both yield monthly income. Once you’ve invested an amount so that the regular income need is fulfilled, a part of your money must be invested in equities to be able to beat inflation. Your investments in equity should be regular and for the long run, even when you're investing through retirement.
This article was originally published on March 27, 2012.
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