Worried about your income after retirement? You can generate a steady monthly income of up to ₹1 lakh by strategically investing in government-backed savings schemes. These options offer high security and attractive interest rates, making them ideal for senior citizens.

Key investment avenues recommended by experts include:

• Senior Citizen Savings Scheme (SCSS): Offers a competitive interest rate of 8.2%, with payouts every quarter.
• Post Office Monthly Income Scheme (POMIS): Provides a steady 7.4% annual interest, perfect for those seeking monthly returns.
• RBI Floating Rate Savings Bonds: A highly secure instrument currently yielding around 8% interest, though rates may fluctuate over time.

To achieve an income of ₹1 lakh per month, a total corpus of approximately ₹1.5 crore needs to be distributed across these schemes. However, experts advise diversifying your portfolio rather than putting all funds into a single scheme. Always consider inflation and potential changes in interest rates before making long-term commitments. Proper planning today ensures a stress-free financial future tomorrow.