Passive Income: No more money worries after retirement! 5 solid ways to generate passive income and earn a regular income..

The biggest problem after retirement is the cessation of income, while expenses continue as before. During your working years, you receive a salary every month, but after retirement, if there is no stable source of income, the financial pressure increases. In such a situation, passive income emerges as an excellent solution.

Passive income means earning money without having to work repeatedly, with money coming in every month or at a fixed interval. Let's explain what passive income is and which 5 methods of passive income can prove to be the most reliable for generating regular income after retirement.

First, understand what Passive Income is.

Passive income is income that you receive without having to work daily or repeatedly. It requires some initial planning or investment, but after that, the income comes in automatically. Examples include rental income, interest from government schemes, dividends, or pensions. This is considered crucial for financial security after retirement.

1. Senior Citizen Savings Scheme (SCSS)
SCSS is one of the safest and most reliable investment options for retired people. It is a fully government-guaranteed scheme that provides a regular income on the investment.

Interest rate: Approximately 8.2% (current rate).
Investment limit: Up to ₹30 lakhs.
Duration: 5 years.
The biggest advantage of this scheme is that the interest is credited directly to your account every quarter. Tax benefits are also available.

2. Renting out property
If you own a flat, house, or shop, renting it out can be a strong source of regular income after retirement.

Advantage: Once a tenant is found, a fixed amount is received every month.
Note: Make sure to have a written lease agreement and complete the tenant's KYC verification.
Risk: Sometimes rent may be delayed, or the property may be damaged.
In the long term, this method proves to be quite stable and profitable.

3. Dividend-Paying Stocks or Mutual Funds
If you are willing to take a little risk, dividend-paying stocks and mutual funds can generate good passive income.

Advantage: Capital growth along with dividends every year.
Suggestion: Choose funds with a strong track record.
This option is best for those who want to see their money grow even after retirement.

4. Post Office Monthly Income Scheme (MIS)
The Post Office MIS is ideal for those who want to avoid risk and receive a fixed income every month.

Investment Limit: ₹9 lakh (Single), ₹15 lakh (Joint).
Interest Rate: Approximately 7.4%.
Tenure: 5 years.
The money invested in this scheme is safe, and the interest is credited to your account every month.

5. Annuity Plan or Pension Scheme
If you want to receive a regular income like a pension every month after retirement, an annuity plan is a good option. You invest a lump sum amount, and in return, you receive a fixed income for life. The amount of income depends on your investment and the plan you choose.

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