POSTED BY July 16, 2013 12:57 pm COMMENTS (6)ON
My mom has retired and is a senior citizen. Her retirement corpus is around 50L. I wanted to check with the group here to find out the best options to investment this corpus with the following goals:
1. Monthly income of ~15K
2. Investing the rest of the amount in safe instruments for growth.
P.S: ~3L-5L of emergency fund has been kept aside already and is not included in this amount.
For now; I have done the following:
a. Invested 15L in SCSS (post office) at 9.3% p.a. quaterly interest which could give around ~11.5K monthly
b. I have also invested 5L in Fixed deposits at 9.5%p.a. for 3 years which amount to 3.9K monthly.
So, overall I think the ~15K monthly would be met and this was the best of my knowledge. I would like to get a quick opinion on ([a] and [b]) to know if I haven’t goofed up big time.
Now for the part  which is to invest the rest of the money in safe instruments. I would like to know what are the possible options. Here is what I’m thinking:
– Fixed deposits are at a high; and I don’t see any other instruments giving better returns at low or no risk. Does it make sense to lock on to these for the next ~5 years?
– Are co-operative banks a safe bet or is it best to stick to PSUs? What is safer co-operative vs private banks?
– Can you recommend some banks whose fixed deposits could yield better returns?
– I have been reading of bonds / corporate fixed deposits – what is a better way to invest in them? Also, is it a good time to invest in a particular category of MFs?
– Does it make sense to invest in NSC or KVP considering they are capped at ~8.4 for now?