5 Ways to Ensure Regular Monthly Cash Flow Post-Retirement

Some of the biggest challenges people face while planning retirement are:

(1) deciding how much is okay, how much will be enough to survive retirement, and
(2) ensuring sufficient and regular cash flow every month. The task is demanding in nature but once accomplished, can secure your retirement just like that. Best is to start planning your retirement from a very early age and devise a feasible strategy.

Your retirement strategy should include the following things:-

• Right investment options

Choosing the right investment Plans is the key to a good retirement strategy. Hence, you have to assess your needs and decide the amount of risk you can take while choosing the investment tools. Also, you have to make sure the collective interest income would be sufficient for you post-retirement.

You can go with the following investment tools:-

• Fixed Deposit 
• Senior Citizen Fixed Deposit 
• Mutual funds 
• Equity-linked mutual funds 
• Debt funds etc.

Note: Senior Citizen FD schemes come with a higher TDS exemption limit and offer a higher ROI to the investors.

• Budget

Secondly, you must set your budget right. Analyze the past and future trends and predict the future cost of living. Refer to your parent or other people who have already retired and decide a fitting budget.

• Maturity time of all investments

Given that you’ll be investing in multiple schemes, you have to dedicate the maturity time wisely. The focus should be on maintaining a regular cash flow and hence, assign different maturity dates to all your investment. 

Read This for More Details: 5 Ways to Get Monthly Income When you have Retired