Investment Schemes for Senior Citizens to Build Emergency Fund

Life can be unpredictable, and having an emergency fund is important, particularly for older people.

This is money set aside for unexpected costs, like medical bills.

Some options for senior citizens include government-backed schemes like the National Pension Scheme, which gives regular income, and the Senior Citizen Savings Scheme, which offers a safe way to save money.

Another option is the Post Office Monthly Income Scheme, which gives a set income each month.

RBI bonds and Equity Linked Savings Scheme (ELSS) are also mentioned as potential investment vehicles.