–Rsb Singh
You have not shared your financial details. So we will not be able to offer personal advice. However, we would offer you some pointers that you may find useful.
You should be extremely careful with your retirement corpus. If you have a monthly pension from the government or employer, you can take some risks. Otherwise, your first priority should be to use the corpus to ensure regular income that can be used to take care of your monthly expenses. You should invest in a Senior Citizens Savings Scheme or Post Office Monthly Income Scheme to get government-backed assured income. To supplement the income, you may also invest in safer debt mutual funds.
You should be extremely careful about investing in equity schemes. As you know, equity schemes invest in stocks. Stocks are extremely risky and volatile. That is why equities are recommended only for long-term investors. You should take a relook at your equity schemes and find out whether you are okay with the risk. You should also find out the categories and the extra risks involved in investing in them. We typically ask retired investors to stick to large cap schemes and flexi cap schemes if they can stay invested for seven to 10 years. If you can’t take the extra risk or give the necessary time, you should stay away from equity mutual funds.
