Q: I earn Rs 10,000. How can I make that money grow? Am I eligible for a loan at the age of 68 years?
Answer: You cannot get unsecured loans unless you have a regular income from salary or business (not from Investments). However, you might be able to get loan against securities (like shares). To make money grow, you can invest in equity, however you should be fine with the risks and downside as well. The time horizon for this should be 5 years+. At 68, you can opt for a reverse mortgage if you have a house.
Shweta, Certified Financial Planner
Expert @ InvestmentYogi