I have 83 lakh of rupees. I will retire next month. Where should I invest so that I get a minimum of 3 lakhs as a fixed monthly income? 

With 83 lakhs in hand and retirement just next month
I understand your feeling completely

Because This money is your whole life's hard work and I know that you want peace, security and a fixed income every month

So let me tell you the truth as a friend with a very clear heart

To get 3 lakhs every month as a fixed income from 83 lakhs is practically not possible in any safe investment

Because
3 lakhs per month means 36 lakhs per year

That is more than 43% return every year on 83 lakhs

And I am telling u from my whole expert experience that

No bank,

no government scheme,

no fixed income plan in India or anywhere gives you 43% fixed and safe return

Always remember my onething that
If someone is promising you for the same then be very careful because it is almost always a fraud or very high risk

So what is realistically possible as per my best of the study?

Now u have to understand me very carefully that

If we invest 83 lakhs safely today with a mix of good and trusted options then you can expect around 7.5% to 9% per year

That means around Rs 55,000 to Rs 65,000 per month fixed income and that it is possible then when you have  planned it very carefully

Here I am writing some best options about how many retired people I know and how they are planning in the same way :

1. Senior Citizen Savings Scheme (SCSS): This is the first choice for most senior citizens You can invest up to Rs 30 lakhs because At present it gives around 8.2% interest so Your interest comes every 3 months and it is very safe because it is backed by the Government of India

2. Post Office Monthly Income Scheme (POMIS): You can invest up to Rs 9 lakhs individually because It gives you a fixed amount every month and as per my Observation it is Very safe for regular monthly expenses

3. RBI Floating Rate Bond or Bank FDs: Keep some money like:- Rs 20-25 lakhs in good bank FDs or RBI bonds Ladder them  like :- 1 year, 2 years, 3 years, 5 years  so you always have liquidity and better interest

4. Pradhan Mantri Vaya Vandana Yojana type Annuity plans: LIC and other companies have monthly pension plans for senior citizens so if You give them lump sum then they give you a fixed pension for life and as per my best of the study The return is around 7.5% to 8%

5. Mutual Fund - Systematic Withdrawal Plan (SWP): If you can take a little bit of market risk then keep around 15-20 lakhs in a good balanced or debt mutual fund and take a monthly withdrawal here I want to add something  clearly that This is not fully fixed but it can give you a little higher monthly amount than only FD

Now I would say that
With a mix of these 4-5 places your 83 lakhs can give you a safe, regular, tension-free income of around Rs 60,000 per month and your capital also remains safe
This is the honest reality

Now it'
My sincere advice to you

"do not go behind any scheme that promises 3 lakhs fixed per month on 83 lakhs otherwise You will lose your hard-earned retirement money, it is  Better to have a smaller amount but it must be guaranteed and it should be peaceful income than to lose everything in the hope of a very big income"

And I would suggest u to sit with a trusted financial advisor or your bank manager once before you invest

Take your family with you to discuss your monthly expenses and  health needs then only decide

I am sharing this information with you not just as financial information  but as a well-wisher who cares for your peaceful retirement

Now I am writing
A little about me

For many years I have dedicated my entire life to the welfare, wellness and happiness of our senior citizens

I have seen up closely that how our elders struggle after retirement not only for money but for health, for respect, for good peace of mind as well as for relief from body pain

That is why I have been working day and night for their good health, safe investments, happy retirement and overall well-being

And my real earning is smile of a senior citizens because
Their smile is my biggest reward

If you want to know more about healthy and happy living after 60 then I have created some resources with a lot of study and research for our senior community
You will find priceless health tips to make life healthier, richer and happier

For more information dedicated to the welfare and well-being of senior citizens, visit the official website:

https://sites.google.com/view/acupressure-massage-spa-therap/home

And here is also a unique treasure of invaluable health formulas that make the lives of senior citizens healthy, prosperous and happy which is now available on this dedicated blog:

https://share.google/C10HuHmKMCUcm1wcV

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