Retirement is the stage when person ceases to work entirely. Physically, this stage is marked by the poor concentration and lack of excitement for the new tasks. The normal age for a person to retire is over 50, though a person can also get an early retirement. Every retired person gets some retirement income at this point of time because his physical conditions make him incapable of getting an equivalent job again.

However, there has been a controversy over retirement age. If we talk about the overall results, then it comes to be below 50's. A person should seek retirement once he gets over 50. Pension after retirement is considered as the right of an employee. Retirement income is provided by the government itself. In case of early retirement, the pension is issued by the government but the person has to rely on his own sources because the time for retirement income could be stretched from 2 to even 7 years. So, a retired person should also look for some honorary job to support his expenses. I will talk about the different career options for retired people, but before that let me explain how you can invest your retirement income judiciously.

For investing your income, you should list your goals according to the money you have got and your preferences. Each goal must be framed with utmost thinking and intelligence. Take an example of buying a car. If buying a car is your goal, then keep it in the category of short-term goals because it does not take time to purchase. You only need money, you will go to the show room and bring it to your home but providing an education to your children is somewhat a steady and long process, so you can place it in the mid term goals and so on. Clear your present financial status. How much you can afford to spend, how much you save that you attain a safe position till the particular time etc. Decide your limit, the limit of risk you can take in your implementations.

The second step should be to invest your retirement income from where you can derive maximum gains. Many retired people invest in fixed return policies. But there is a limited development in these instruments. Bonds and bank savings imply taxes on the money. So, the best investment would be the mutual funds. They are much more than the shares. You can choose any fund suitable to your time duration. You can take the advice of the professionals for making your investment more comfortable and profitable.

Apart from investment, if you want to increase your retirement income, you can turn to jobs for retired people. These jobs include providing assistance to doctors, educating the children living in slums and so on. The pay might be low but the respect and importance that every retired person would like to seek will be definitely there.