By 2050, the demographic of Indian senior citizens is set to hit the 340 million mark. When it comes to financial support, many Indian seniors have traditionally relied on family. However, changing social dynamics present unique financial challenges for those in retirement.
Currently, only about 23 per cent of the elderly have access to any form of pension. Also, the lack of familiarity with digital banking and modern financial instruments can leave them vulnerable to financial mismanagement and fraud. ADVERTISEMENT To build resilience post-retirement, Indian senior citizens need accessible financial education and tailored advice.
, we roped in fintech entrepreneur Bhuvan Rustagi, the co-founder and COO of Per Annum; and tax expert Manikandan S from Cleartax who take us through four alternative investment options that can help to secure your father's future. As our parents or in-laws reach their 60s, navigating the can become challenging. In these circumstances, alternative investment options offer the advantage of providing a stable and secure future for them and their families.
These investment instruments are an excellent way to diversify portfolios with options like P2P lending, non-convertible debentures (NCDs), government schemes and real estate investment trusts (REITs). This diversification helps senior citizens manage their finances smoothly and build resilience for the future. Alternative investments not only help diversify their portfolios but also offer inflation-.
