Senior citizens tell Portfolio what draws them to mutual funds despite the investment risks

“The best time to plant a tree was 20 years ago. The second best time is now” — this Chinese proverb may also work well for people living in retirement. There are various investment options that suit retirees, such as Senior Citizens’ Savings Scheme (SCSS), Post Office Monthly Income Scheme (POMIS), Pradhan Mantri Vaya Vandana Yojana (PMVVY), immediate annuities, bank fixed deposits (FDs), tax-fre...