Passive Income: Continue earning even after retirement! These 5 passive income methods can make your old age carefree..

After retirement, income stops, and expenses remain—this is the biggest concern. While you're employed, you receive a monthly salary, but without a steady source of income after that, financial stress sets in. Passive income is a great solution. It provides a steady monthly income without any effort. Let's explore what passive income really is and the five most reliable ways to earn it after retirement.

What is Passive Income?

Passive income means income that you receive repeatedly without any work. Such as rent, interest from fixed deposits or mutual funds, or earnings from the sale of digital products. Once you've worked hard, this income continues to flow.

1. Senior Citizen Savings Scheme (SCSS)

SCSS is one of the safest and most popular options for retirees. It's a government-guaranteed scheme with a tenure of 5 years, and interest is credited to your account every quarter.

Interest rate: Around 8.2% (currently).

Investment limit: Up to a maximum of ₹30 lakh.

Benefits: Secure returns, tax benefits, and quarterly income.

2. Renting Out Property
If you own a flat, shop, or house, you can rent it out to generate a fixed monthly income.

Benefits: Regular income begins once you find a tenant.

Note: Keep the lease agreement in writing and ensure the tenant's KYC is complete.

Risk: Property damage or delayed rent, but this is a great option in the long term.

3. Dividend-yielding mutual funds or stocks
If you can take a little risk after retirement, dividend stocks or mutual funds can provide excellent passive income.

Benefits: Annual dividends along with capital appreciation.

Recommendation: Invest in long-term, stable funds.

4. Monthly Income Scheme (Post Office MIS)
The Post Office Monthly Income Scheme (MIS) is a reliable option. Your money is safe, and you receive fixed interest every month.

Investment limit: ₹9 lakh (single account), ₹15 lakh (joint account).
Interest rate: Approximately 7.4%.
Term: 5 years.

5. Annuity Plans or Pension Schemes
If you want to receive monthly pension-like money after retirement, an annuity plan is ideal. In this scheme, you deposit a lump sum amount and receive a fixed income for life. The size of the income depends on your investment and the type of plan you choose.

Disclaimer: This content has been sourced and edited from Dainik Jagran. While we have made modifications for clarity and presentation, the original content belongs to its respective authors and website. We do not claim ownership of the content.