Tips for Senior Citizens to Reach Financial and Emotional Independence
Senior Citizen Day 2019 : After spending decades of your life fulfilling personal and professional commitments, you look forward to living your golden years stress-free and to the fullest. Now, while life indeed begins at retirement, it is also true that you retire from work and not from life. This means that you still need a steady stream of income to meet your household and medical expenses and fulfil your retirement dreams without depending much on your children or lowering your standard of living. Here are some tips that can help senior citizens achieve their financial and emotional freedom: Invest Wisely After the retirement, your risk appetite goes considerably down because your monthly salary discontinues. Hence, you should build a financial portfolio that maximizes returns and minimizes risks on your investments while generating a regular income and growing your money. You can invest the balance 15-20% in low-risk mutual funds and/or tax-free bonds to fetch bette...