A retirement corpus of ₹50 lakh is essential for ensuring financial stability during retirement. CA Suresh Surana emphasizes the importance of a diversified investment strategy that includes the Senior Citizens Savings Scheme (SCSS), which currently offers an interest rate of 8.2% per annum. This scheme provides predictable quarterly income, making it suitable for seniors. Surana suggests allocating funds across various asset classes to balance income stability, liquidity, and long-term growth. A proposed allocation includes ₹15 lakh in SCSS, ₹12 lakh in liquid or debt mutual funds for emergencies, ₹15 lakh in equity or hybrid mutual funds for growth, and ₹8 lakh in direct equities or index funds as an inflation hedge. This balanced approach can help generate a monthly income of ₹20,000 to ₹30,000, while also protecting capital for future needs. Surana advises seniors to avoid common investment mistakes and to regularly consult with a certified financial advisor to adjust their portfolio according to changing financial circumstances and goals.