
Before making any investment decisions, it is essential to calculate one’s actual financial needs carefully. This involves estimating how much money one would need on a monthly basis to cover all your expenses.
When considering investment plans for senior citizens, numerous factors must be taken into account due to the challenges associated with generating a consistent income from their accumulated savings. Given that these funds often constitute the entirety of their financial resources, seniors typically gravitate towards more conservative investment strategies.

Before making any investment decisions, it is essential to carefully calculate one’s actual financial needs. This involves estimating how much money one would need on a monthly basis to cover all your expenses.
It is also important to consider any additional sources of income you may have, such as rental income, pension payments, or contributions from family members. Additionally, you should calculate what percentage of your total investment corpus you plan to use each year to ensure that you are not depleting your funds too quickly. By carefully evaluating your financial situation and needs, you can make more informed investment choices that align with your long-term goals and objectives.
“As our parents or in-laws officially enter the golden years of their lives, financial security/stability becomes a major challenge for them. In the absence of a secondary income source, managing home and social commitments becomes troublesome. It also puts forth the need for alternative investment channels that offer financial stability. In addition to the usual age-old options like FDs, bonds, etc., alternative investment tools offer stable returns and can be a great value addition to their financial portfolios,” said Bhuvan Rustagi, Co-founder and COO, Per Annum.
Talking about alternative investment, Rustagi said P2P lending is one of the viable alternative investment options available today for individuals looking for stable returns, especially for people nearing retirement age.
Peer-to-peer (P2P) lending constitutes a major progression in the realm of alternative finance, providing online platforms that directly connect lenders with borrowers. These digital marketplaces facilitate loan acquisition without the need for traditional financial intermediaries like banks.