My father will be retiring in six months. He has accumulated a corpus of close to ₹5 crore and wants to invest in instruments that are not risky so he can live off the interest accumulated. He has, among other investments, put in ₹15 lakh in SCSS (senior citizen savings scheme). His mutual fund (MF) allocations include ₹2 crore in short term funds, ₹1 crore in floating rate funds, ₹50 lakh in balanced advantage funds, ₹25 lakh in overseas MFs, and ₹25 lakh each in conservative hybrid funds and liquid funds.
India: Life market expected to grow by 15% in next 3-5 years
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