Retirement Planning: Secure Your Future with Passive Income Streams

• Passive income is crucial for financial security after retirement, providing regular earnings without daily effort.
• Options include Senior Citizen Savings Scheme (SCSS) with 8.2% interest, offering quarterly payouts.
• Renting out property (house, flat, shop) can provide a steady monthly income to cover daily expenses.
• Dividend-paying stocks and mutual funds offer periodic dividends and potential capital appreciation for those willing to take some risk.
• Post Office Monthly Income Scheme (MIS) provides a low-risk, fixed monthly income with an interest rate of 7.4%.

Why It Matters: Plan for retirement with diverse passive income sources like SCSS, rentals, and dividend investments for financial stability.