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Investment Portfolio of Senior Citizens in Greater Noida
RAHUL KUMAR
CHAPTER 1
Introduction
A citizen is a person who has the lawful right to belong to a specific country. He has the right to take part in the legislative proceedings of the state to which he belongs. People who are more than sixty years old are commonly stated to as senior citizens or pensioners. This refers to people whose phase in life is usually called old age, though there is no specific way to recognize the formal stage of a normal life duration. People are said to be senior citizens when they reach the age of sixty because that is the age at which most of the people be pensioned off from work. Senior citizens are of four types. First are those who involve in enjoyable searches in the trust that they functioned tough all their life and now are in a feeling to enjoy life. Second belongs to the category that turns to spiritual searches of attending spiritual discourses, deliberation camps and reading of sacred scripture and the like. The third group continues in the same professional practices or business or similar activities and the actions continue so that they can pass time, meet people and sense desirable. They obtain admiration from others as a stuff of repetitive tasks, but slowly the distance rises and they acquire traditional importance. Fourth category moves out of their known circle and engages in actions that interest them and are meaningful to them. During their work life, these doings could have remained remote or simple hobbies. They take interest in public matters, social deal or arts and meet people outside their sphere. They join or form unpaid organizations of diverse types. The problem of ageing is one of the significant areas that concerns with socio-psychological factors. Elderly people are becoming one of the significant groups in the society. Ageing is an inevitable phenomenon in all living organisms. Ageing is a complex process involving biological, psychological, social and environmental components. Psychological ageing is a result of the deterioration of biological process, slowing down of psychological activities like memory, intelligence, emotional reactions and verbal ability. Sociological ageing is the completion of adult social roles and the inability to continue the roles and it becomes difficult for these people to live as a self-sufficient member of the family or the society. The concept of ageing and position of the aged form an integral part of the institutional and ideological culture of a society. Social development of a country depends on its economic growth and provision of social and economic security to all sectors of the population. The ageing of the population is a factor, which needs to be included in the political, economic and social equations.
The study analyses the investment pattern of the senior citizens in Greater Noida City. The study has been conducted from the point of view of the senior citizens who have invested their money in different investment avenues. Instead, the study could also be gauged from the angle of the institutions offering investment avenues. In the present study, the researcher has looked into the issues as the third party. The study covers the investment avenues of the senior citizens, the investment pattern of the senior citizens, attitude of the senior citizens towards investment and the factors influencing the attitude of the senior citizens towards investment.