Q: I am a 65 year old War widow and do not have any children or successors. I have a fund of Rs 6 lakhs with me and wish to invest it so that I can earn atleast Rs 6,000 every month. Please suggest me how best I can go about investing my money towards my requirement.
Answer: You can invest the entire amount of Rs 6 lakhs in Senior Citizens Savings Scheme and earn Rs 4,500 per month. However if you are particular about earning not less than Rs 6,000 per month, then you would need to take risk on some amount of the funds you have and invest it in equity based funds.
Shweta, Certified Financial Planner
Expert @ InvestmentYogi