Widely read:
What would be your advice to manage Rs 20 lakh available to invest for an 80-year-old widow who wants to live off the interest? Her children can support her to some extent, but she would ideally like to be independent.
- Lakshmi
Of the Rs 20 lakh, invest Rs 15 lakh in Senior Citizen Saving Scheme (SCSS). That is the highest yielding government-backed guaranteed return instrument available to senior citizens.
If its interest is the only income, it will also be tax-free. But the maximum money that can be invested in SCSS is Rs 15 lakh. Invest the remaining Rs 5 lakh in equity funds in a staggered manner. It will help protect the worth of your capital.
This article was originally published on December 13, 2021.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
