As a senior citizen where should I invest

As a senior citizen you should invest in schemes/ investment options which suits your risk profile. Based on your risk profile, there are variety of options available to you. As you have not mentioned your risk profile, we are sharing an article on the relevant topic. As the article is one year old, please check the interest rates while investing in fixed income instruments.

https://www.advisorkhoj.com/articles/retirement-planning...

Within mutual funds you have two option - MIPs and Balanced Funds. Balanced funds are more riskier than MIPs but have given better return as the equity component is higher in balanced funds.

From the above two category of funds, you can either opt for dividend payout or SWP option. How the balanced funds work and what is SWP, you can read all this in the following articles -

https://www.advisorkhoj.com/principalmf...

https://www.advisorkhoj.com/articles/Mutual-Funds...

https://www.advisorkhoj.com/post-your-queries...

Please also check this SWP Calculator https://www.advisorkhoj.com/mutual-funds...

Once you have understood the various concepts about the funds and the ways to get regular income, you may contact a mutual fund advisor in your city and invest with his help.

Thanks for writing to Advisorkhoj.