Mis-selling of investments: What should senior citizens do?

According to reports, SEBI, the markets regulator, recently issued notices to certain mutual fund houses for selling small-cap funds, a high-risk investment over the short term, to super senior citizens (individuals over the age of 80). Mis-selling of financial assets is an age-old issue. Even mutual funds are not untouched by this. This unethical practice by some agents and distributors can have significant risks to all investors. It can be particularly damaging for senior citizens. Unlike younger individuals, senior citizens may not have the luxury of time to recuperate from financial setbacks, potentially jeopardising their retirement savings. Therefore, it becomes imperative for investors, particularly the elderly, to arm themselves with the knowledge to navigate these financial traps effectively. Knowing what you want from your investments is key. Hence, in this article, we'll guide seniors through the steps they should take and share suitable investment options tailored to their goals. Are you seeking a steady income stream? If you're looking for steady income from

This article was originally published on April 09, 2024.